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Mukul Kochhar, Head of Equities-India,
How are markets likely to react to this second wave of Covid which is not showing signs of peaking out?
Last year also, we were faced with a critical situation in March and we went into lockdown. The timeframe is very similar. It is April and the cases are rising very fast and the market is nervous and has also corrected partly. But there is a key difference. We have vaccines today unlike last year. The common wisdom was that it takes like close to a decade to develop a vaccine and nobody would have thought that by the end of 2020, we will have vaccines. So, now we have a weapon in a war which we did not have in March and vaccines do work.