South Africa’s business confidence dived all times economy low in April due to the imposition of lockdown in late march to slow down the spread of the COVID-19. The index slumped to 77.8 in April from 89.9 in March compiled by SA chambers of Commerce and Industry.
Fear of Missing Out (FOMO) is very real in our daily life and in current markets. As the market is going down by 10% on certain days due to Covid-19 which troubling investors whether to buy this stock or that stock.
The global market plays a very important and direct role in the local market. So, if an event is affecting the global market it will likely affect the local market. It happens because all countries are somewhere dependent on each other.
It’s only a matter of weeks, the coronavirus epidemic a.k.a COVID-19 has affected almost a third of market cap globally. This outspread of this virus has also shaken the confidence of investors by triggering panic across the globe.
Despite Yes bank share lock-in period of 3 years imposed by the Government. Yes Bank shares soar 58%, an outrageous rise in the scrip price of the shares. The government imposed this lock to shareholders holding 100 shares or more for 75 percent of their total investment for new or existing shareholders.