Indian stock markets were closed today on account a festival. Asian markets were trading with losses following worries over rising covid cases across the globe.
The Japanese Nikkei was down nearly 2 per cent, while the Hong Kong's Hang Sang was down 1.5 per cent in trade.
The Sensex fell in the last one hour of trade on Monday, led by declines in Cement stocks and IT Stocks, even as news of fresh curbs and lockdown continued to impact sentiments. The state of Jharkhand announced a lockdown, while Maharashtra announced new curbs, which left analysts worried over economic growth.
Indian markets are expected to be volatile when trading resumes on Thursday, with the focus continuing to be on Covid 19 cases and lockdowns.
"State Governments battle with the surging covid numbers and implementing stricter local restrictions the markets started giving up gains," said Sandeep Gupta, Group Head - Dealing & Advisory, Broking & Distribution, Motilal Oswal Financial Services, following Monday's trade.