Indian markets closed in red this week. The second wave of COVID-19 is far more severe than the first wave. Only 2.5 percent of the population is vaccinated till now. Vaccine manufacturers are expected to increase production in the coming days as the US has relaxed restrictions on the export of raw materials to manufacture vaccines. Sectorally, selling pressure was seen in metals, banks, oil & gas and energy, while some buying was seen in auto stocks. Except FMCG, all other sectoral indices were trading in the red with Nifty Metal index declining over 3 percent.
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