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Why Covid-19 crisis has failed to trigger deep stock market selloff in India?

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India’s Covid-19 crisis has so far failed to spark a deep stock selloff like that seen last year, and some asset managers point to less stringent curbs on activity as one factor at least for now.Even as the nation reports more than 300,000 confirmed infections and over 4,000 deaths a day, India’s benchmark equity index has been moving in line with regional peers.

The S&P BSE Sensex index has declined 6.6% from a mid-February peak, about as much as the MSCI AC Asia Pacific index. That compares with a 23% tumble in the Sensex in March last year when the coronavirus pandemic started to rage globally.

The Sensex is also heading for a 1% decline this week, less than the 3.5% fall for the MSCI AC Asia Pacific index.The surprisingly muted stock.

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