The Indian economy was already slowing down considerably, before the coronavirus began infecting people. Now, one has to brace for a sharper economic slowdown and if the situation gets worse, even a recession.

The attempts made at restoring the confidence of investors, traders and depositor community in the bank is for the moment causing the sucker rally in the stock. Sucker rally is basically driven by investors appetite for betting on the stock at falling rates.

The Nifty has dropped almost 24 per cent from peak levels. A drop below 20 per cent is considered a bear market. Markets have truly reached dismal levels.

Indian benchmark indices staged their biggest ever intraday recovery ever in Fridays session. Sensex jumped over 5,000 points and Nifty rose by 2,500 from their respective days lows. After the 45-minute trading halt on Friday morning, there was a sudden change in sentiment among investors.

The velocity of the stock market crash across the globe in the first two weeks has taken investors by surprise. Many analysts are drawing comparison of the March 2020 coronavirus led crash as similar to the 2008 sub prime mortgage crisis led crash across the globe.

In a holiday-truncated week, there is again seen mayhem in the Indian markets with Sensex shedding 1100 points in early trade and Nifty below 10600 levels. And the decline continues with a further deepened crisis as Sensex sees a further dip to the extent of over 1500 points.