Why did the Nifty and Sensex fall once again on Wednesday after showing a smart recovery on Tuesday?

It was actually disappointing to see the markets correcting sharply after the recovery on Tuesday. The US Fed cut did not appear to have any positive impact as markets closed in the negative once again. The sharp fall was driven by the increasing cases of Coronavirus infection in India as 30 people have already been reported to be infected by the virus in populous tourist destinations like Delhi, Agra and Jaipur. Indian government is apprehensive that more such cases may be reported in the near future, which led markets into a state of panic. Indian markets were down while most world markets were up on Wednesday.