The lockdown announced in March completed one-month last week. It's also been a month since the market recovery started after hitting lows in March.
On the other hand, India has not seen a decline in the number of infected cases fromCOVID-19.
Lockdown was first announced on March 25 to contain the spread of COVID-19.
After a knee-jerk reaction and hitting 2020's closing low of 7,610 on March 23 to factor in expected weakness in earnings and economy in FY21. The market has recouped 21 percent of losses since then.
The market has seen been rangebound lately with no clear direction. Some of the factors responsible for that - no vaccine found on virus yet, no trend of major decline in each day new infections, weak management commentaries after Q4 earnings, closure of schemes by Franklin Templeton fund and delay in biggest stimulus package from government though other developed nations announced trillions of dollars package to boost economy.
"The rising cases of coronavirus infections and no success in drug development so far are worrying about the markets. Investors are still struggling in evaluating the impact of coronavirus pandemic on business as companies refrain from giving guidance," Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services told Moneycontrol.
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