The BSE benchmark, Sensex, hit a new high of 42,273.87 on January 20. It ended February at 38,297.29 points, down close to 10 per cent. While equity investments by nature carry moderate to high level of risk, the last week of February was almost a oneway drive to the bottom across most major global markets. The biggest worry was that the Covid-19 outbreak would disrupt global supply chains and impact the economic growth.
India has a few confirmed cases, and investors remain concerned about a rapid spread. And, as Chinese exports to India include everything from automobile components to electronics, consumer goods, textiles and chemicals, the outbreak there is bound to affect Indian companies. “Decline in Chinese export capacity will impact India’s output and exports from these sectors,” said Rahul Singh, chief investment officer (equities) at Tata Mutual Fund.
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