Mumbai, June 29: The Indian stock markets started the week on a negative note echoing weak cues from the global stock market. The Sensex was trading at 34,723, down 447 points at 10:15 am on Monday.  Nifty, on the other hand, was at 10,250, down 132 points as global markets ended weak due to the rising coronavirus cases that dashed hopes of a recovery across the globe.

Axis Bank, IndusInd Bank, and Bajaj Finance shares slid over 4 per cent each. S&P had downgraded the ratings of both Axis Bank and Bajaj Finance during the weekend.

The losses in banking, financial services and metal stocks dragged the markets lower. China's Shanghai Composite, Hong Kong's Hang Seng and South Korea's KOSPI indices were down 0.80 per cent, 1.06 per cent and 1.20 per cent at the time. India’s COVID-19 Tally Inches Closer To 5.5 Lakh Mark, Death Toll Mounts to 16,475.

India reported 380 deaths and 19,459 new COVID-19 cases in the past 24 hours. Positive cases in India increased 5,48,318 including 2,10,120 active cases. The number of cured, discharged and migrated was at 3,21,723 cured. The death toll, on the other hand, jumped to 16,475 deaths.

(The above story first appeared on LatestLY on Jun 29, 2020 10:21 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website