Coronavirus Impact: Anil Singhvi says panic is no more visible in markets, but investors must be careful

Coronavirus Impact: Amid rising case of Coronavirus infection in India and other countries, Zee Business Managing Editor Anil Singhvi has said that market is range-bound and it will continue to remain sideways for a few more sessions. The Market Guru was of the opinion that COVID-19 panic is no more visible in the global markets that includes Indian indices too. Singhvi said that it would be difficult to gauge the impact of Coronavirus on Indian markets - opening of Mumbai and Delhi is vital.

Speaking on the Coronavirus visibility in the current markets, Anil Singhvi said, "At a time when we are witnessing rising number of Coronavirus cases, there is  no panic of the virus in the markets. In fact, yesterday we witnessed rally at the Dow Jones though the US is reporting around 40,000 new Corona cases per day. So, the Corona panic is definitely no more visible in the markets but yes, it is still around and one has to be careful while making any investment or trade related decision."

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बाजार से कोरोना का डर निकलना सही...अनिल सिंघवी ने कहा- बाजार में बड़ी तेजी या मंदी का माहौल नहीं लेकिन सावधानी जरूरी...बोले- इकोनॉमी के लिहाज से मुंबई, दिल्ली का खुलना अहम#EditorsTake #CoronaVirus #COVID19 #Unlock2 #Sensex #Nifty @AnilSinghvi_ pic.twitter.com/rHeZrV0JnC

— Zee Business (@ZeeBusiness) June 30, 2020

The Market Guru said that the market is range-bound and it is expected to remain in the same tepid trade pattern till Dow and Nasdaq shows some upside movement.

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Commenting on the Coronavirus impact on Nifty, Sensex and other Indian indices, Singhvi said, "It's difficult to count the COVID-19 impact on the Indian markets till its economic capital Mumbai and political Capital Delhi completely come out of the Coronavirus lockdown." He said that once both Mumbai and Delhi get unlocked completely, then we will be able to witness the political and economic movement in full swing and only then will we be able to assess the impact of Coronavirus on Indian indices.