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Indian shares opened deep in the red on Monday as investors fretted over sustained rise in coronavirus<\/span> cases in the country and strict lockdowns imposed in many states.<\/p>\n The benchmark S&P BSE Sensex fell 360 points, or 0.7 percent, to 48,421 in early trade, while the broader NSE Nifty index was down 92 points, or 0.6 percent, at 14,538.<\/p>\n Reliance Industries fell 1.7 percent despite reporting sharply higher profit in Q4FY21.<\/p>\n Amara Raja Batteries lost about 4 percent. The company said it has received closure orders from the Andhra Pradesh Pollution Control Board for its plants situated at Karakambadi, Tirupati and Nunegundlapalli in Chittoor district of Andhra Pradesh.<\/p>\n SpiceJet dropped 2 percent. The airline has deferred up to 50 percent of the April salary of its employees, citing the second wave of COVID-19 pandemic as a reason. <\/p>\n SBI gave up nearly 2 percent after slashing interest rates on home loans. <\/p>\n Yes Bank tumbled 4 percent on reports it is exploring a potential bid for the Indian retail assets of Citibank.<\/p>\n Hero MotoCorp edged up slightly. The two-wheeler manufacturer has reported a 35 percent fall in April sales due to the temporary closure of plant operations and the retail outlets across the country amid the second wave of the COVID-19 pandemic.<\/p>\n Maruti Suzuki climbed 1.6 percent despite reporting a decline in passenger vehicle sales in April. Shares of Tata Motors were down about 1 percent. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div><\/div>\n