National Workshop on Covid-19 and Stock Market Crash by KISS-DU
The Department of Tribal Resource Management, School of Resource Management, KISS Deemed to be University (KISS-DU) organized a national webinar on the topic ‘Stock Market Reaction to Covid-19: Strategies for Navigating the Future’. The experts opined that the sentiment in the stock markets across the world is gloomy due to the Covid-19 pandemic. This is reflected in the frequent crashes in the share markets in all parts of the world. Financial markets in India are witnessing sharp volatility currently, as a result of the fallout in global markets, they observed.
The fall is in line with the global benchmark indices as the domestic market usually tracks the major global indices and the high volatility is likely to continue in the near future as well. The outbreak has raised an alarming situation world over. Inter alia, it has caused major concerns as regards public health and global economy. The stock markets have taken a big hit, particularly in a developing economy like India with an unbridled population, remarked the experts.
Speaking at the inaugural session, Mr. Thomas Mathew, Managing Director, Orissa Capital Markets Enterprises Ltd explained the impact of the Covid-19 pandemic on the banking sector by citing examples of YES Bank and Franklin Templeton. “Government should pump more money into the economy in order to improve the economy. The investors should believe in Systematic Investment Plans and keep investing even if the market is unpredictable. The silver lining is that the confidence has not diminished and things will fall in place soon”, he suggested.
Earlier, Dr. Snigdharani Panda, in her opening remarks, spoke on the appropriateness of the topic in the present context and introduced the esteemed guests to the participants. The inaugural session was followed by a panel discussion, moderated by Dr. Liji Panda.
Dr. Sunaina Kanojia, Associate Professor, Department of Commerce, Delhi School of Economics, University of Delhi spoke about the different ways of creating financial plans. According to her, these plans will help in combating the uncertainties during the crisis. Referring to a few renowned investment management consultants she said “essential services and uncertainties will always exist, we have to devise strategies to handle the problem”. Dr. Amit Kumar Singh, Associate Professor, Department of Commerce, Delhi School of Economics, University of Delhi spoke about the modus-operandi of the IPO and elaborated it through the examples of Infosys, MRF, WIPRO and Titan. Dr. Biraj Kumar Mohanty, Associate Professor, School of Management, KIIT Deemed to be University said, “The ground realities are different, one should check the solvency, analyze the business model before investing. Loss minimization is the best way to profit maximization.”
Speaking on the occasion, Mr. Meraj Inamdar, Lecturer, National Institute of Securities Market talked about the traders and touched three key aspects of the topic, such as early regulatory development reaction to the crisis, new margin rule and its impact and a new mutual funds rule and its impact. He concluded his speech by proposing ways to safeguard retail traders.
Prof. Sasmita Samanta, Vice-Chancellor In-Charge, KISS-DU opined that webinars on such burning topics have become the need of the hour. “Academic sector has been proactive since the outbreak of the pandemic. This sector has handled the situation nicely, despite all the challenges”, she said. All stakeholders should join hands in building a knowledge-based society and generate food for thought for intellectual consumption. KIIT and KISS buckled-up and took prompt action during this crisis, right from making Covid care hospitals to lending a helping hand to the families of the victims of the Covid-19 pandemic, added Prof. Samanta.
The webinar struck a discourse on how the pandemic poses a huge threat to the stock market especially in a developing economy like ours. The intellectually stirring webinar witnessed national and international participants from Saudi Arabia, Bahrain, Nigeria, Oman and Indonesia. The discussion was followed by a question and answer session.
Dr. Prashanta Kumar Routray, Registrar, KISS-DU in his concluding remarks summed-up the session. On behalf of KISS and the organizing team, he appreciated the contributions of the dignitaries gracing the occasion. Ms. Yasmin Khatun and Mr. Udayana Mohanty along with other members of the School coordinated the event.