COVID-19 impact: Bengalureans venture into share market business, investing, trading amid lockdown
Economic slowdown, risk in business, job layoffs and paycuts have pinched the common man’s wallet and many have taken to plunging their savings into the business of investing, as alternate income.
BENGALURU: As the world economy braces through the coronavirus pandemic, the Indian online broking industry seems to stand on solid ground, for now as the crisis has come as a blessing in disguise for companies with the number of clients, orders witnessing an between March and May.
Many people have opened new DEMAT accounts to venture into the business of investing and trading during the lockdown period and as a result, there has been an increase by 30-35 per cent in trading volumes and a surge for opening new accounts as well.
Economic slowdown, risk in business, job layoffs and paycuts have pinched the common man’s wallet and many have taken to plunging their savings into the business of investing, in search of an alternate source of income.
The novice investors are learning the ropes of the trade from online stock market tutors while those who don’t have any knowledge in stock markets are investing with the help of brokers who assist them with
Share brokers in Bengaluru too admit that most people have opened fresh accounts and are trying their luck in the share market.
Srinivasa, who has invested in the stock market two months back said,“I don't have any knowledge about the share market, but I have invested as per the suggestions given by my friend. I am happy with the extra money earned in the last two months, which has helped a lot during this COVID crisis.”
Simultaneously, the surge in enrolments for online courses related to share market has pushed demand for online tutors.
Satishchandra Dinakar, founder of VanijyamShala – Trading Academy, which is into stock market educational services for over 20 years said that the outbreak of coronavirus has changed the lifestyle of the
“People should first learn the foundations of investing and trading, instead of completely depending on unsolicited tip providers," Dinakar cautioned.
"With a proper mentor, learning the art and science behind trading is as easy as learning ABC. With the right knowledge and mindset, anybody can trade,” he also added.