The second wave of Covid-19 has hit the economy and the stock market hard with normalcy taking a backseat yet again. At the bourses, portfolio returns have turned negative, with benchmark indices declining over 4 per cent each over the past one month, as investors at large book profit on fears that fresh Covid-19 related restrictions and state-specific lockdowns may pause the economic recovery.
As state governments extend lockdown amid globally record high cases in a single day, analysts fear the earnings of India Inc in the upcoming June quarter may take a hit.
"Indian economy is on a firm