Spike in Covid-19 cases takes toll on business recovery SECTIONS Last Updated: Mar 09, 2021, 07:27 AM IST Share Synopsis Nomura Global Markets Research flagged that the sharp resurgence in pandemic cases in some states and the expected spike due to upcoming elections in five states may have a deeper effect if mobility gets affected. Getty Images The Nomura India Business Resumption Index (NIBRI) fell to 95.2 for the week ended March 7 versus 98.5 in the week before as both Apple driving index and the Google retail and recreation indices took a hit while power demand and labour participation rates fell as Covid cases rose.