Disconnect grows in India between Covid-19’s ruination and record high markets Investors continue to snap up Indian assets, fuelling a 66% rally in the Nifty 50 Index over the past 12 months 28 May 2021 - 13:28 Nupur Acharya, Divya Patil and Baiju Kalesh India is experiencing a huge surge in Covid-19, one its health system cannot cope with. Picture: BLOOMBERG/REBECCA CONWAY Mumbai — 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-19 death toll to more than 318,000 — a figure that experts say is likely a significant undercount.