Covid-19: The Effect on an Economy
As the world feared Covid-19 effect since December 2019, India has been on front foot in terms of predicting the impact of epidemic and protecting its citizens. Every precaution was taken by authorities to curb the spread that started from China and affected the world, especially the Western Countries. Indian impact was delayed as compared to the world, but slowly, the effects started to show on Indian Markets when on 27th Feb, Nifty broke it crucial support of 11508. On 5th March, when there was a sudden spike in active cases of Covid-19 (+22 cases in a day), Nifty broke its 11000 level and from there, markets witness a freefall and the bears entered the markets.Every sector has been affected thoroughly by this pandemic. Certain sectors have taken a deep hit in terms of returns generated, although some sectors have also recovered quickly after some news. Here is the effect of Coronavirus on Major Sectors of the National Stock Exchange.
Disclaimer: All data is as of 31st March 2020