markets slipped over 1% on Wednesday amid fears authorities may tighten restrictions further as covid-19 cases continue to surge.According to reports, Maharashtra chief minister Uddhav Thackeray has called a cabinet meeting later today to discuss the covid-19 situation in the state.Also Read | Field report: A groundswell of anti-incumbency in Mamata’s BengalBenchmark share index Sensex was down 1.2% or 575 points at 49475.57 points, while Nifty declined 171 points to 14643.65 points."The market may remain volatile in the near term, given weak global cues, high bond yields, rising commodity prices and risk of increase in inflation.