Why the markets could correct more and Vistara overtakes SpiceJet

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Editor's note: This is Street Smart, The Morning Context’s weekly newsletter on everything that impacts corporate India. Every Thursday, Street Smart will bring you an original, reported or analytical take on issues that have the potential to shake up the business ecosystem. Furquan here. As I write, the Sensex is down 774 points. It has been in correction mode for the last few days, falling over 2%. What explains the sudden softness? I look at an interesting trend, and a break in it which points to a downhill trek for the markets in the short term. Separately, Prince checks on another change, that of the pecking order of the Indian aviation industry. How did a smaller Vistara manage to go past SpiceJet? Read on.  The theatre of the absurd on Dalal Street Have you ever thought of investing in the stock markets amid this pandemic? If yes, then you are not alone. There are 2.75 crore new investors who registered with BSE in the last year—an astounding 49.4% growth year-on-year. Justifiably so because since the onset of the pandemic, barring the bear …