Indian shares slid over 1 percent on Monday, erasing half of Thursday's gains as the Nifty failed to hold the 9,000-mark. The indices declined as the government is set to extend a lockdown to contain the spread of the coronavirus, while a rise in oil prices also weighed on sentiment. The initial 21-day lockdown announced by PM Modi was due to end on April 14. As of Monday, the country has reported 9,152 confirmed cases and 308 deaths.

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The sentiment was also hit by a more than $1 a barrel jump in oil prices after top producers agreed to their biggest-ever output cut. India is one of the world’s top oil importers, making it susceptible to higher crude prices.

The Sensex ended 470 points lower at 30,690, while the Nifty shed 118 points to end at 8,994. Meanwhile, the broader indices were also in the red. Nifty Midcap fell 1.4 percent and Nifty Smallcap lost 0.5 percent in trade today.

On the Nifty50 index, L&T, Hindalco, Bharti Airtel, Adani Ports, and Dr Reddy's were the top gainers while Bajaj Finance, Zee, Bajaj Finserv, M&M, and Titan led the losses.

Among sectors, realty, financial, and auto fell the most, whereas Nifty Pharma and Nifty Metal were in the green for the day.

Zee Entertainment Enterprises plunged 7.5 percent after announcing Thursday it would invest Rs 522 crore ($68.59 million) in its technology arm SugarBox.

Meanwhile, pharma stocks continued to rally with Glenmark Pharma leading the gains, up 22 percent. Aurobindo Pharma, Lupin, Dr Reddy's and Biocon also rose 2-10 percent.

First Published:Apr 13, 2020 3:34 PM IST