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COVID-19 effect on stock market – what am I doing?

As we know, we are going through difficult times due to COVID-19 and major hit on global economy. It’s unfortunate that many businesses have come to a halt.

Yes, it’s temporary – in fact, everything in this world is temporary! Like everyone, I’m also seeing decline in my portfolio but I’m optimistic that situation has begun to improve.

Here is what I did in last few weeks. I have sold short-term mutual funds with a nominal margin. I have decided not to buy new stocks except State Bank of India. I have continued investing on daily basis on the stocks that I already have; this is helping me to reduce my average cost per share. I am making sure that I have decent cash in hand for emergency.

In addition, I’m continuing SIPs scheduled both tax saver and short-term. Overall, my portfolio health is improving. As I have said, it’s matter of just a few weeks considering if all of us feel responsible to follow directions by our governments and stay safe!

Have a wonderful day!

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