At 09:49 am, the Nifty PSU Bank index, the top loser among sectoral indices, was trading 7 per cent lower, while Nifty Realty had slipped 6 per cent, and Nifty Bank, Nifty Financial Services and Nifty Auto indices were down 4 per cent, each. In comparison, the benchmark Nifty50 index was down 2.4 per cent, at 14,485 points.
India recorded a massive surge of 1.69 lakh Covid-19 cases in the last 24 hours and curbs were imposed in different parts of the country to contain the spread of the virus. Since there has been resurgence in the pandemic and partial lockdowns, there is a likelihood of a delayed recovery in credit offtake.
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