The markets are in panic, this is fear of the unknown – Cover Story News

Panic selling on the stock market, triggered by fears of largescale business disruptions caused by the COVID-19 global pandemic, saw the Sensex plunge 2,919 points on March 12, the largest-ever single-day fall.

Motilal Oswal, 58, CMD, Motilal Oswal Group

The haemorrhaging began on March 2 as news broke of fresh COVID-19 cases in the country, at the end of the day’s trade, the Sensex was down 1,200 points. But it was still at a far higher and happier perch of 38,144 points.

At the time of going to press on March 18, the BSE’s benchmark index had lost, in the space of a month, 28 per cent or nearly 11,000 points. Also, at 28,869, this was the first time since January 2017 that it had slipped below the 29,000 mark.

Graphics by Tanmoy Chakraborthy

Market participants have urged the regulator to shut down the bourses for a few days until the threat of extreme volatility passes. The markets are in panic; this is fear of the unknown, says Motilal Oswal, a chartered accountant-turned-stock broker, who started his firm in 1987. Even globally, the markets are highly volatile. There is too much fear and pessimism.


1. Investors fear the worst though nobody really knows how bad the COVID impact will be.

2. The Federal Reserve Decision to cut interest rates to zero has only exacerbated the panic.


Oswal says this kind of volatility won’t last long; he sees it as a good time to buy stocks

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