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Financials

Indian stocks slip as coronavirus cases jump; Hindustan Unilever drops

BENGALURU, May 7 (Reuters) - Indian stocks slid on Thursday, with declines led by banks and Hindustan Unilever, as coronavirus cases in the country crossed 50,000 despite a strict weeks-long lockdown.

The NSE Nifty 50 index was down 0.58% at 9,215.70 by 0400 GMT, while the S&P BSE Sensex fell 0.62% to 31,487.85.

The number of coronavirus infections rose to 52,952 in India, up by 3,561 over the previous day, the health ministry said on Thursday. The death toll was up by 89 to 1,783.

Shares in Hindustan Unilever fell 4.3% after GlaxoSmithKline began selling $3.45 billion worth of the company’s shares in the open market.

In a bright spot, Yes Bank’s shares jumped nearly 10% after the lender reported a surprise profit for the March quarter. (Reporting by Sachin Ravikumar; Editing by Amy Caren Daniel)

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