Mumbai, July 14: The Indian stock markets have extended their losses further after opening in the negative terrain echoing sentiments from the global market. The Sensex was trading at 36,139, down 554 points. NSE Nifty, on the other hand, was down at 10,650 at 11:30 am on Tuesday.

Markets have extended their losses owing to drag witnessed in HDFC and HDFC Bank stocks, which were among the top Sensex laggards after the latter conducted a probe into allegations of improper lending practices in its vehicle-financing operation.

Investors have been extremely sceptical amid the rising coronavirus numbers across the world.  The number of coronavirus cases in India crossed the 9 -lakh mark on Tuesday. There has been an addition of 28,498 new cases and 553 deaths reported in the past 24 hours.   Singapore Recession: Country in Technical Recession as GDP Shrinks 41.2% in Q2 Vs Previous Quarter Amid COVID-19 Pandemic.

Most of the Asian shares traded in the red after US stocks retraced from their intraday highs to close lower on Monday. Rising infection cases have been worrying investors across the globe. Singapore’s economy entered a technical recession after shrinking by 41.2 percent in the second quarter compared to the previous quarter. The economy has come to a grinding halt owing to the extended lockdown that has shut down several businesses and reduced retail spending.

 

(The above story first appeared on LatestLY on Jul 14, 2020 11:40 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).