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Markets in India to gain in future despite global meltdown

ANI  |  New Delhi [India] 

Amidst a stable Indian stock markets outlook, the developments in the are affecting the markets across the world, said a top on Thursday.

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

The added that 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 (IMF) has downgraded the Gross Domestic Product (GDP) projections of the US and

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 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, if need be," he added.

"has rightly decided to increase refinance window," he added while commenting that the move has helped ease liquidity among housing

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 11 2018. 16:25 IST