No earnings? Share bazaar to the rescue

Updated: Apr 13, 2020, 09:09 IST | Sanjeev Shivadekar | Mumbai

Many who have lost their jobs due to the COVID-19 crisis, have turned to share-trading as a source of income

Nitin Hajare holds paid tutorials but on Sunday conducted a free online training session for over 125 students across the country
Nitin Hajare holds paid tutorials but on Sunday conducted a free online training session for over 125 students across the country

The COVID-19 pandemic has led to an economic crisis and many people have lost their jobs. Some of them have now turned to the share market as an alternative option to earn some money till they find new jobs. Many were unaware of how to go about this but have found plenty of help in the form of free seminars and online lectures.

A 40-year-old marketing executive employed with a prominent dairy industry in Gujarat recently lost his job. Aware that finding a new job immediately in the current scenario is almost impossible, he started looking at the share bazaar as an alternative source of income. "I attended a free seminar on how to track and understand the market. Based on these lessons, I have started trading," the Ahmedabad resident said.

Free online training
No wonder, 34-year-old Nitin Bhiva Hajare, who hails from Ahmednagar District, on Sunday conducted a free online training session for over 125 students across the country, many of them who had lost their jobs as a fallout of the COVID-19 crisis.

"I take paid tutorials for trading. But due to current situation this time the coaching was free of cost, so that maximum people get the benefit and commence earning their livelihood as early as possible," Hajare said.

Have another plan
Hajare, a farmer's son working in a Pune-based IT company and a professional option trader in the share market, emphasises that every citizen, be she/he a businessman, salaried employee or even a daily wage earner, should always focus on having plan B for financial earnings besides regular income. The tech graduate mentioned, "While making savings, citizens buy both life and medical insurance. So when one opts for two plans to secure life, why is the same logic not applied when it comes to monthly earnings? The share market is such that one doesn't have to depend on any one to offer employment. With very little investment and good study one can easily earn enough to suffice for day-to-day living."

The option trader is of the firm belief that one shouldn't give up employment or business even if they make good money in the market.

Many women are taking up dealing with shares as well. "Due to the financial downtrend in past couple of months the income from my husband's business has seen a drop and almost become uncertain. I have a kid and have to manage the home. So decided to learn market dynamics and started trading to make it a source of earning. It is working for me, at least till now," Amrita Singh, an HR professional with a Noida-based MNC firm said.

Housewives keen on shares
Thane resident Priti Rane, a former professor with a prominent Mumbai college, gave up her job a couple of years back and started teaching share market trading to students through seminars organized in Mumbai and the outskirts. She said that housewives are also interested in trading. "In many cases, educated females cannot step out of the house due to domestic issues and commitments. But, they don't want their education to go waste, and want to earn a decent amount to support the family," Rane added. A housewife from Virar said, "I am a law graduate. But my in laws are against me taking up a job. So I learnt about the share market. I have started trading as a source of earning."

Rane added instead of depending on advisory firms to suggest good stocks or investments, citizens should learn the subject and take their own decisions.

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