Market Watch: Coronavirus impact! Markets may be closed temporarily; Zee Business launches campaign #BandKaroBazaar

Coronavirus, now a global pandemic has shattered markets across the globe. The Indian story is no different. The chorus is growing louder day by day for a temporary closure of the stock markets, a Zee Business Twitter poll trend suggests.

The coronavirus impact on world markets has been 'massive' with markets falling by over 20% in one month. In India, the markets have come down by 25%. The entire country is now taking measures to minimise the covid 19's reach. At the same time, the government, businesses both public and private are preparing strategies to deal with the economic onslaught. #BandKaroBazaar

Watch the Zee Business Market Poll #BandKaroBazaar

#BazaarKiBaat | बाजार में पैसा बनाने से ज्यादा लोगों की सुरक्षा महत्वपूर्ण है, मार्केट को फिलहाल बंद कर देना चाहिए: आशु मदान#NSE #BSE #Sensex #Nifty @AnilSinghvi_ @ashumadan4 pic.twitter.com/RQqoKWrwnA

— Zee Business (@ZeeBusiness) March 18, 2020

The share markets have been badly hit by the virus impact and demand for a temporary closure of the markets are now growing. While this is still at a stage of the proposal, the final call on which will only be taken by the market regulator SEBI (Securities and Exchange Board of India).

Why the growing chorus?

Financial Expert and Managing Director at JM Financial Ashu Madan believes that the move to bar short selling in the market is not enough, and seeing the magnitude of the coronavirus impact, the market may see an even bigger bloodbath, if the markets are allowed to continue functioning. He foresees the situation to get worse. At this point in time, it is not important to earn money. It is important to save investments.

Dangers for person catching infection are running high and if somebody in the brokerage house catches the infection, it would lead to a greater loss for the investors.

Why shutting down markets is a wise decision?

Ashu Madan feels that investors will get opportunities to earn money as the situation would not stay perpetually. Work from home is a good option for other sectors but the broking sector does not give such facility as there is no infrastructure or technology to facilitate broking from home - a point also endorsed by Zee Business Managing Editor Anil Singhvi.

What to do in the market?

The markets are very volatile. There is a new surprise every day for investors. The market is still struggling to find a bottom point. While the markets recovered on Friday, they have been on a continuous downward trajectory. On Wednesday, Sensex fell by over 1180 points till 12:40 pm while Nifty was down by 334 points.

See Zee Business Live TV Streaming Below:

#BandKaroBazaar is the top trending hashtag

Zee Business has launched a campaign to shut down the markets. 'कोशिशें नाकाम, बंद करना होगा काम' is the motto. The channel is running a poll on this. You can participate in the poll by opting for YES/No. You can find the hashtag on the Zee Business twitter handle and Facebook page. The hashtag is a top trend in the world while at number two in India.