COVID-19 Hits Stocks: Rupee At Record Low, Rs 11.3 Trillion Gone

If you invest right at this time, you could make some big gains. But as of now, the stock market looks worrisome.

The Indian stock market has been pummelled by coronavirus restrictions, the YES bank crisis, and falling oil prices.

(Image: Altered by The Quint)

The C-word continues to keep us on edge as India recorded its first coronavirus-related death while the worldwide death toll exceeded 4,500, sending governments into a tizzy, resulting in travel bans, cancellation and deferment of events and summits, and triggering a bloodbath in stock markets.

The rupee hit a record low of 74.5 against the US dollar, and is set to go even lower, past 75. A market crash on Thursday, 12 March, wiped off Rs 11.28 lakh crore of investors’ money from the Bombay Stock Exchange, and share markets the world over witnessed heavy losses.

So why has India’s stock market been affected so bad? How can you and I approach investments right now? And is this a good time to invest and make money?

Guest: Ritham Desai, Managing Director, Morgan Stanley India