I am not sure if we can this a bear market, although the Nifty and the Sensex have touched 52 week low on 09 March 2020. Normally, a correction of 20% from the peak is classified as a bear market provided the markets don’t bounce back from lower levels. This does look like a very sharp correction considering that the entire 17% correction has happened in the last one month. One can argue that it is a bear market because the yields have fallen sharply. For example, it India the yields fell below the 6% mark after a very long time while in the US, the 10-year bond yields have gone below 1% for the first time in the last 150 years. Clearly, there are points of worry but we may have to wait for some time to confirm a bear market.