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!

Srinivasu is an accessibility evangelist with 16+ years of experience. Currently works as Senior Accessibility Program Manager at Watermark. Previousely held several positions at companies like BarrierBreak, Yahoo, PayPal, Deque, HCL etc., He believes in the teachings of Shri. Adi Sankaracharya, Swami Vivekananda. He is also Founder of ServeOM Inclusion - a platform to pormote accessibility.

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