Indian shares fell for the fourth straight session on Monday as banking stocks tumbled on mixed expectations for an upcoming interest rate decision, while surging domestic coronavirus cases also dented sentiment. Infections in India crossed 1.8 million on Monday after a record daily jump over the weekend, which saw the country's interior minister, a close aide of Prime Minister Narendra Modi, testing positive. The Nifty index, which gained 7.5% in July, fell 0.89% to 10,976.10 by 0430 GMT, while the Sensex was 1% lower at 37,232.30.
Top medical adviser Deborah Birx says the virus is affecting rural communities as well as cities.
A $1 trillion package of stimulus checks, jobless benefit bonuses and relief for small businesses hang in the balance as Dems, GOP haggle.
Muslims worldwide have marked the Eid al-Adha holiday amid a global pandemic that has impacted nearly every aspect of this year's celebrations. Around the world, Muslims gathered with relatives or at home on Friday to mark the start of Eid. Kosovo and the United Arab Emirates also closed mosques for Eid prayers to limit the spread of the virus.
India reported nearly 55,000 new coronavirus cases on Sunday and Japan recorded more than 1,500 for a second day while Florida braced for a hurricane that threatened to hamper anti-disease efforts. A curfew was imposed on Australia's second-largest city, Melbourne, following a spike in infections. The United States, India and South Africa are struggling to rein in their first wave of infections while South Korea and other countries where the disease abated try to avert a second wave as curbs on travel and trade ease.