The NSE Nifty 50 index closed 1.3% lower at 8,993.85
Domestic stock markets fell on Monday, dragged down by financial stocks, as Asia's third-biggest economy looked set to extend a lockdown to contain the spread of the new coronavirus. The NSE Nifty 50 index closed 1.3 per cent lower at 8,993.85, while the benchmark S&P BSE Sensex slid 1.51% to 30,690.02.
India will extend the 21-day lockdown due to end Tuesday, according to a state chief minister with knowledge of discussions among top officials, although the federal government has yet to make an announcement. As of Monday, the country has reported 9,152 confirmed cases and 308 deaths.
Prime Minister Narendra Modi will address the nation at 10 AM on Tuesday, his office said in a tweet.
The country is planning to partially open up some parts of the economy to offset the economic damage of the lockdown, with the industries ministry recommending restarting some manufacturing in the auto, textile, defence, electronics and other sectors, according to a government note reviewed by news agency Reuters.
Top private-sector lender HDFC Bank was the top drag on the indices, closing 2.95 per cent lower, while conglomerate Reliance Industries slid 2.25 per cent.
Non-banking finance firm Bajaj Finance dropped 10.3 per cent and was the biggest loser in Mumbai trading.
Data due later in the day is expected to show consumer inflation in the country dropped to a four-month low in March on softer food and fuel prices and as demand likely plummeted due to the lockdown, according to a Reuters poll.
