As each day passes, market participants across the globe have to contend with newer challenges. The number of people infected with COVID-19 globally has crossed the 1 million mark. Despite a more a week of lockdown, India is yet to see its curve flattening with the number of infected increasing at a fast clip. At the same time, macro-economic data coming in is pointing to job losses and an imminent economic slowdown. In such an environment, there are days when markets bounce back to register gains. However, such movements can be tricky and can trap investors. Volatility continues to rule the markets as they oscillate between gains and losses. Indian markets started the week on a positive note after data showed that manufacturing activity in China rebounded from record lows in March and certain signs indicated that lockdown across much of Europe could be starting to have the desired effect of slowing the rate of new confirmed cases. However, these data points were lost in the sea of negative updates which eventually pulled the markets lower to trade with losses. The global risk off sentiment further exacerbated the sell-off with foreign portfolio investors selling a record Rs 65,816 crore worth of Indian equities in the month of March 2020.