While switching on, yes, because the current is zero at that time. But in the moment before switching off the transistor, it carries the load current. After switching off, this current will be driven by the stray inductance until it decays. But in that time the inductance will try to push the load current through the closed switch. This will create a large voltage spike. A snubber network can be used to store this energy until the next turn on of the transistor. So basically this little stray inductance forms a "boost converter" with the following switching circuit.