COVID second wave shaves 10% off Sensex; more downside ahead?
The Sensex crashed 10 per cent as of Tuesday's closing from its all-time high of 52,516.76 hit on February 16. The Nifty is down nearly 6 per cent to 14,296.40 from its peak
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The market continued its downturn on Tuesday after a deep crash on Monday as India fights the second wave of Covid-19. In a volatile session, the Sensex settled 243 points lower, while Nifty closed at 14,296.40. Since governments are imposing state-level lockdowns, the doubts on the nascent economic recovery are obvious. However, the announcement for a mass vaccination drive from May 1 is giving some hopes.