Indian shares plunged into a bear market on fears of the impact of the coronavirus, falling 13% in a day last week for the biggest decline on record A high-performing fund manager went against the crowd as the Indian stock market crashed on the virus.
We’ve “been buyers every day," said Rajeev Thakkar, the chief investment officer of PPFAS Mutual Fund. “We haven’t sold any stock." Indian shares plunged into a bear market on fears of the impact of the coronavirus, falling 13% in a day last week for the biggest decline on record.
The country has locked down for three weeks, putting 1.3 billion people into isolation. For Thakkar, this won’t be as bad for markets as the global financial crisis.