GDP Growth (Q2)
-7.5%
The economy is down primarily because of the services sector. Segments like hospitality, retail, and support services suffered. Manufacturing and technology managed to chug along. IMF and World Bank contend that global economies will be down till the end of 2021. One has to contend with the second wave of Covid in the US and Europe
The economy is yet to recover from the Coronavirus blow entirely. Yet benchmark indices, after recouping all losses suffered earlier are trading at new highs. It has created doubts among retail investors as some lost hard-earned money while others made good moolah. The mathematics doesn’t seem to match.
Meet Yash Vishwanath Bodade (18), from Nashik in Maharashtra. Earlier this year, before the stock markets went into dizzy runs, Yash received ₹2 lakh as seed capital. Of this, he parked 50 per cent in delivery-based investing and the rest in options trading. He followed a disciplined approach and stuck with a research outfit he trusted. He executed 32 delivery-based buying trades and made ₹42,000 profits on his ₹1 lakh investment. That’s a whopping 42 per cent in less than 10 months. The hyper volatility witnessed in the stock market during early 2020 was a life-time experience for Hriday Bajaj (26). He had joined his father’s Kolkata-based sub-broking in December 2019. A wise Hriday now says, “The stock market is a double-edged sword. One can earn quick money, but at the same time, lose money with double the speed.”
This story is from the December 2020 edition of Outlook Money.
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This story is from the December 2020 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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