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(Bloomberg) As Covid-19 continues to ravage India, financial professionals across the country are grappling with an increasingly surreal disconnect between the epidemic’s devastation and a record-breaking boom in local markets.The world’s worst coronavirus outbreak has battered India’s economy and lifted its official Covid death toll to more than 318,000 a figure that experts say is likely a significant undercount.And yet investors continue to snap up Indian assets, fueling a 65% rally in the Nifty 50 Index over the past 12 months that has outpaced every other major equity benchmark worldwide. The measure’s surge to a record on Thursday has coincided with the fastest rate of Indian initial public offerings since 2017 and an unprecedented flood of foreign-currency bond issuance by local companies.While the combination of pandemic pain and financial-market euphoria is hardly unique to India, nowhere else has the contrast been so extreme.Bulls say the gains

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