India’s richest state has been the epicenter of an increasingly accelerating second wave of Covid infections in the country. On Monday, India reported a record 168,912 new cases, suggesting that the virus is spreading like wildfire in the country.
Maharashtra is currently under a partial lockdown on weekdays and complete lockdowns during weekends. The state reported a record 63,294 cases on Monday.
The reports have turned investors anxious about the country’s fragile economic recovery, which is likely to be hamstrung if Maharashtra goes into a complete lockdown. More importantly, with cases spiking in states like Delhi, Maharashtra and Karnataka, investors are fearful that other states may announce similar lockdowns to contain the spread.
Nifty50 was down 3.1 per cent, or 460.3 points, at 14,374 by midday on Monday, while NSE Sensex was down 3.1 per cent, or 1,522 points, at 48,069.
