After opening the day on a flat note, the Indian share markets registered marginal gains and continued to trade near the dotted line. Sectoral indices are trading on a mixed note with stocks in the auto sector and telecom sector witnessing maximum buying interest. Metal sector stocks are trading in the red.
The BSE Sensex is trading up 57 points (up 0.2%) and the NSE Nifty is trading up 10 points (up 0.1%). The BSE Mid Cap index is trading down by 0.3%, while the BSE Small Cap index is trading up by 0.1%. The rupee is trading at 67.48 to the US$.
As per an article in the Economic Times, India’s indebtedness rose sharply in both urban and rural areas over 2002 to 2013. As per a government survey, almost a third of rural households and more than a fifth of urban homes stood in debt in 2013. The survey shows that about 31.4% rural households and 22.4% urban homes were in debt, up from 26.5% and 17.8% respectively in 2002.
That said, India is just one part of the growing debt problem. Apart from India, we have the problem of a massive debt bomb in the global financial economy. As Bill Bonner lays down the facts before you, the entire world has a debt problem – with US$223 trillion in debt, about three times global GDP.
We don’t know about the timing. But the end is going to be ugly.
If you’re interested in knowing what’s really happening in the world of man and money, you can claim your free copy of Bill Bonner’s latest book, Hormegeddon.
In the news from global financial markets, the two-day Federal Open Market Committee (FOMC) policy review is set to kick start later in the day. The outcome of the meeting will be widely tracked as the Fed is likely to raise the interest rates. Moreover, bets are now also being placed on the timing of rate hikes next year.
In its last policy review, the central bank had signaled a possible rate hike in December as the economy picks up steam.
Leave A Comment