Global as well as Indian domestic equities were down 5% on Thursday after Russian President Vladimir Putin announced the launch of a military operation in Ukraine. Oil prices are also rising amid the current crisis and concerns of supply disruptions.
online stock brokerage firm zerodhaNitin Kamath, Founder and Chief Executive Officer (CEO) of the brokerage said Thursday was the brokerage’s biggest day in terms of buying shares as investors took the opportunity of a downtrend in the market.
“A big reason for our growth over the past few years is that most investors have made profits. We do not provide leverage for intentional investments. In such a situation, when the markets were down 5 percent on Thursday, no one was forced to sell. In fact, it was our biggest day in terms of shares bought.”
Stock markets continued to fluctuate over the past few sessions as the Russia-Ukraine crisis worsened after Western countries imposed sanctions on Russia, while a Ukrainian delegation arrived at the border with Belarus for talks with Moscow.
The benchmark BSE Sensex closed higher for the second consecutive session on Monday, reflecting a rebound in Asian equities, even as the Ukraine crisis continued to affect western markets. India’s currency, debt and equity markets are closed on Tuesday, March 1, 2022, as a holiday. Markets will resume trading from Wednesday, March 2.
Bengaluru-based brokerage Zerodha commenced operations in August 2010. The startup was launched by Nitin and Nikhil Kamath from their own funds and has zero debt. The retail brokerage firm has more than 8 million clients who trade in stocks, currencies, commodities, mutual funds, bonds through the Zerodha app.
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