Prime Minister Narendra Modi on Wednesday hinted that the nationwide coronavirus lockdown will likely be extended. The 21-day lockdown which started on 24 March is slated to end on 14 April. There are indications that it will not be feasible to lift the restrictions.
Zee Business Managing Editor Anil Singhvi said that this was a big development and would impact the markets as well in case the lockdown period is extended. He further said that these indications are a forewarning for people to be prepared for some really tough times.
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— Zee Business (@ZeeBusiness) April 8, 2020
The PM may also speak to the Chief Ministers of the states.
Urging the investors to be extra cautious, Anil Singhvi said that it could be a double whammy in terms of number of people getting affected from the Coronavirus disease and also the time that may take for things to come back to normal. He said both these factors are unknown under the current circumstances.
He asked investors not to get carried away in a bear market. “Overreaction” could be dangerous for the investors. The news at this point in time is not that great, he concluded.
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As per the information available on the Ministry of Health and Family Welfare, 4643 people have been infected from the coronavirus infection while 149 succumbing to it. The number of people who have recovered from it stand at 401.