The sentiment across the globe improved slightly after it was announced that antiviral agent Remdesivir could be an effective COVID treatment. Additionally, a slight flattening of the infection curve in some parts of the world along with a partial opening up on lockdowns in Italy, United States and even India gave a boost to investor sentiment. Stock markets traded on a positive note despite underlying weakness. However, the consensus is that this is just a bear market rally and the equity markets will sooner rather than later resume their downward trend. Macroeconomic numbers released during the week clearly indicate the adverse impact of COVID-19 on the economic activity in the country.