Indian shares drop as fresh coronavirus cases hit record high
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BENGALURU - Indian shares dropped on Thursday as the country's medical system groaned under an unrelenting rise in coronavirus cases, after it reported record jumps in daily infections and deaths.
The NSE Nifty 50 index fell 0.64% to 14,204.15 by 0400 GMT, while the S&P BSE Sensex declined 0.68% to 47,372.15.
In early trade, both the indexes fell as much as 1% to hit their lowest in nearly three months as a surge in COVID-19 cases and related restrictions threatened to stifle the country's nascent economic recovery.
India reported over 300,000 fresh coronavirus infections on Thursday, the highest daily rise anywhere in the world, while deaths from COVID-19 also jumped by a record.
At least 24 COVID-19 patients died in Nashik city in Maharashtra on Wednesday after the oxygen supply to their ventilators ran out, amid a nationwide shortage of the gas.
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