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Indian shares nosedived in early trades on Thursday following another massive surge in coronavirus<\/span> infections in the country, and despite recovering some lost ground subsequently, remain firmly down in negative territory.<\/p>\n India reported more than 3 lakh COVID-19 on Wednesday, with as many as 3,15,660 new cases and 2,091 deaths being recorded in the country till about an hour before midnight.<\/p>\n Although the government has stated that lockdown will be a last resort, the relentless surge in new cases has raised fears that the country may have to resort to widespread restrictions to prevent the spread of the pandemic.<\/p>\n Automobile, capital goods, FMCG and consumer durables shares are among the prominent loses. <\/p>\n The 30-share BSE Sensex, which plunged as much as 500 points to 47,204.50, has recovered to 47,481.35, but still remains 224.45 points or 0.47 percent behind its previous close.<\/p>\n The broader Nifty index is down 56.80 points or 0.4 percent at 14,239.60, after tumbling to a low of 14,151.40 in early trades.<\/p>\n ended the session down 243.62 points, or 0.51 percent, at 47,705.80, while the broader Nifty index settled at 14,296.40, down 63.05 points, or 0.44 percent, from its previous close.<\/p>\n IndusInd Bank, Hindustan Unilever, Asian Paints and Mahindra & Mahindra are sliding 2 to 3 percent. Titan Industries, Axis Bank and Larsen & Toubro are also notably lower.<\/p>\n Nestle shares are down by about 1.1 percent despite the company reporting higher net earnings in the first quarter of this calendar year. The company reported a 14.6% surge in earnings in the quarter ended March 2021 at Rs 602.2 crore against Rs 525.4 crore in the corresponding period last year.<\/p>\n Wipro, Tata Steel, BPCL, JSW Steel, Sun Pharma, SBI Life, Dr Reddy’s Laboratories and ONGC are up in positive territory, gaining between 1.5 and 4.3 percent. <\/p>\n<\/p>\n<\/div>\n