Markets in India to gain in future despite global meltdown

Sun, 16 Jun 2019

Markets in India to gain in future despite global meltdown

ANI
11 Oct 2018, 20:55 GMT+10

New Delhi [India], Oct 11 (ANI): Amidst a stable Indian stock markets outlook, the developments in the United States are affecting the markets across the world, said a top Finance Ministry official on Thursday.

"The US companies fear their competitiveness to be hit due to the US-China tariff war," the Finance Ministry official said while elaborating on the higher rates that are affecting the profitability of the US companies, thereby impacting US markets.

The ministry official added that India stands to gain in the future despite the global meltdown. "Indian equity market down only 2.5 percent today, which makes the markets reasonably stable," he added.

He added that the International Monetary Fund (IMF) has downgraded the Gross Domestic Product (GDP) projections of the US and China.

However, the IMF on Wednesday said that risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further.

Talking about the Indian Rupee, which touched a fresh record low of 74.46 per dollar on Thursday, the Ministry official said that Rupee should now start strengthening from the current levels.

"Our main worry is on Rupee, Current Account Deficit (CAD) balance of payment. The government has a strategy in place to deal with Rupee, CAD if need be," he added.

"National Housing Bank has rightly decided to increase refinance window," he added while commenting that the move has helped ease liquidity among housing finance firms. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Mexico Star.

More Information

North America

Iran might scale back from nuclear deal commitments

Tehran [Iran], Jun 16 (ANI): Iran on Saturday signalled that it might further scale back from its commitments signed under ...

Walkover puts teen Auger-Aliassime into Stuttgart final

Stuttgart - Canadian teenager Felix Auger-Aliassime reached his third ATP final in Stuttgart on Saturday as his compatriot Milos Raonic ...

India imposes retaliatory tariffs on American goods

New Delhi [India], June 15 (ANI): India on Saturday imposed retaliatory tariffs on American goods, less than two weeks after ...

Netherlands see off Cameroon to clinch last 16 berth at World Cup

Valenciennes - Vivianne Miedema became her country's all-time record goal-scorer with a brace as the Netherlands saw off a spirited ...

Walkover sends Canadian teen Auger-Aliassime into Stuttgart final

Stuttgart - Canadian teenager Felix Auger-Aliassime reached his third ATP final in Stuttgart on Saturday as his compatriot Milos Raonic ...

'Exuberant celebrations are part of a World Cup'

Paris - United States coach Jill Ellis insists her team's allegedly over-exuberant goal celebrations in their record demolition of hapless ...

International

Sexual abuse and rape of older persons becoming more prevalent

As the world was marking World Elder Abuse Awareness Day on Saturday, the UN independent human rights expert mandated with defending the rights ...

Showdown looming in Persian Gulf

Two oil tankers were attacked on June 13 off the coast of Oman, forcing the crew members of one burning ship to ...

United States comes under fire over Iran accusation

RAS AL KHAIMAH, UAE - U.S. allegations that Iran was behind the attack on two oil tankers in the Gulf ...

WHO considering declaring international emergency over Ebola

KAMPALA, Uganda/GENEVA, Switzerland - Fears are escalating over the potential spread of the deady Ebola virus, after a third case ...

Two oil tankers in Gulf abandoned by crews after explosions

MUSCAT, Oman - Two large oil tankers have reportedly been hit by explosions in the Sea of Oman.The attacks took ...

Bulk of child labourers being exploited are in Africa and Asia

BRUSSELS, Belgium - The number of children working in agriculture has increased by 10 million since 2012, which is why ...

Movie Review

Toni Erdmann [DVD]