State elections results will provide fodder to the markets for a few days

Election results will keep market participants glued to the political landscape for the next few days - probably the most expensive elections from the point of the view of public health

India is currently in midst of a tsunami of Covid cases with daily numbers close to 4 lakh, which is 4x the peak of the first wave seen in 2020, and we don’t seem to be anywhere close to a peak yet. There are strong chances that there will be lockdown in more regions in May as the numbers climb. So far, the stock markets are blissfully ignoring the humanitarian crisis, assuming that this is a passing phase and all will be well in the next couple of months once the vaccination drive picks up. However, the pipeline for vaccine