Stock markets:
Impact of COVID-19 on National Stock Exchange of India NIFTY 50 (1 Jan 2020 to 19 May 2020). "The NIFTY 50 is NSE's benchmark broad based stock market index for the Indian equity market."
On 23 March 2020, stock markets in India post worst losses in history.[12] SENSEX fell 4000 points (13.15%) and NSE NIFTY fell 1150 points (12.98%).However, on 25 March, one day after a complete 21-day lock-down was announced by the Prime Minister, SENSEX posted its biggest gains in 11 years, adding a value of ₹4.7 lakh crore (US$66 billion) crore for investors. On 8 April, following positive indication from the Wall Street that the pandemic may have reached its peak in the US, the stock markets in India rose steeply once again. By 29 April, Nifty held the 9500 mark.
E-commerce:
In the third week of March, Amazon announced that it would stop sale of non-essential items in India so that it can focus on essential needs. Amazon has followed the same strategy in Italy and France.On 25 March, Walmart-owned Flipkart temporarily suspended some of its services on its e-commerce platform and will only be selling and distributing essentials. BigBasket and Grofers also run restricted services, facing disruptions in services due to the lockdown. Delhi Police began issuing delivery agents curfew passes to make it easier for them to keep the supply chain open. E-commerce companies also look for legal clarity related to what are "essentials".
There are concerns as to where will the government find the funds to fight coronavirus and keep the economy alive. Experts say the task force will have to look in to NPA norms, tax payments and income support to those in the unorganised sectors. A direct cash transfer scheme for the most vulnerable is also being considered, as has happened in other countries. The Press Information Bureau brought out a fact check that stories about a financial emergency being imposed in India are fake. A financial emergency has never been imposed in the history of India as yet.
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