ANI
24 May 2023, 15:27 GMT+10
New Delhi [India], May 24 (ANI): Indian stock market indices traded largely steady on Wednesday morning as the US debt ceiling impasse continues to affect global markets.
Benchmark indices Sensex and Nifty rose a mere 0.1 per each when writing this report.
"Since failure to reach a resolution (regarding the debt ceiling in the US) will have catastrophic consequences for the global economy and markets, a resolution of the crisis at the eleventh hour is the most likely scenario. But markets will be on tenterhooks till then," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The debt ceiling is the amount of money the US government can borrow to pay the nation's bills. US Secretary of Treasury Janet Yellen had said her country could default in early June if the debt ceiling is not extended. But Congress seems to be divided on the consensus to raise the ceiling limit.
However, declining inflation rates in India and a possible repo rate cut by the RBI by the end of 2023 are clear positives for the market.
"The near-term scenario is uncertain but for long-term investors buying high conviction stocks on declines will fetch decent returns," Vijayakumar added. (ANI)
Get a daily dose of Mexico Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Mexico Star.
More InformationDUBLIN, Ireland: The Government of Ireland is preparing legislation to outlaw vaping, and the sale of vaping products, to those ...
Cape Town [South Africa], June 1 (ANI): External Affairs Minister (EAM) S Jaishankar on Thursday said that the BRICS nations ...
Guwahati (Assam) [India], June 1 (ANI):To mark the completion of 9 years of the Modi government and to make preparations ...
By Dr Amjad Ayub MirzaSrinagar (Jammu and Kashmir) [India], June 1 (ANI): The three-day session of the G-20 Tourism Working ...
NewsVoirNew Delhi [India], June 1: C-Quest Capital (CQC), a world-leading carbon finance business dedicated to catalysing an energy transition across ...
BusinessWire IndiaBengaluru (Karnataka) [India], June 1: The Indian real estate industry's stars gathered at the illustrious 5th edition of the ...
WASHINGTON D.C.: The Defense POW/MIA Accounting Agency has announced that 2nd Lt. James Litherland of South Williamsport, Pennsylvania, an Army ...
DHAKA, Bangladesh - The Anti-Corruption Commission (ACC) has filed a case against 13 members of Grameen Telecom's board of directors, ...
WASHINGTON D.C.: The U.S. Commerce Department has said that trade ministers from 14 countries have taken part in the US-led ...
LOUISVILLE, Kentucky: Two horses that succumbed to their injuries at Churchill Downs have become the 11th and 12th fatalities over ...
FREMONT, California: Brain implant company Neuralink announced that it has received approval from US regulators to begin human brain implant ...
JEFFERSONVILLE, Indiana: Randy Lankford, owner of Lankford Funeral Home and Family Center in Jeffersonville, Indiana, has pleaded guilty to more ...