The stock market has gone live for the first time in over a year, and many of the major players are looking to make a quick buck.
Here’s what you need to know about the latest trading platforms.
Forex platform that will bring you a better trading experience and more reliable money-making opportunitiesFor the past few months, the Indian stock market was the top-performing in the world, with the Dow Jones Industrial Average hitting record highs and the S&P 500 hitting new highs.
The country also experienced record-breaking gains in its currencies, as India saw its benchmark rupee and the dollar strengthen by more than 3 per cent.
“India is one of the fastest-growing economies in the subcontinent and its financial sector is now growing at double digit rates,” Suresh Srinivasan, the chairman and managing director of investment advisory firm Srinivasa, told CNBC.
“That’s why, in terms of the market, we have a very good position.”
A lot of people in India have been flocking to the Indian markets since the Modi government came to power, he added.
“There is a lot of interest in India in the financial services sector and in the technology sector.”
According to a recent study by the World Bank, India accounted for one-fifth of the global population and one-third of the world’s millionaires.
It has one of Asia’s largest digital economies and a booming startup ecosystem.
In addition, India is a growing economy and a stable financial center, with a strong and stable currency.
But it is not all good news for the economy.
The economy has been battered by the global financial crisis and has been losing its momentum, said Shripad Dasgupta, chief economist at the National Institute of Finance (NIF).
“India’s growth has been going down and the country has been struggling to attract investors,” Dasgupta told CNBC on Monday.
“We have seen a lot more companies go into bankruptcy and the stock market is at record lows.
It is a sign of the times.”
The country has struggled to meet the soaring demand for its currency and has lost more than 10 per cent of its value in the last five years, Dasgups said.
The government has taken steps to curb inflation and is planning to increase the minimum wage.
But Dasguptions also warned that the current crisis will not last forever.
“India will be hit again,” he said.
“It is inevitable that there will be some slowdown, especially as inflation continues to rise.
It will take time.”
The latest developments on the stock markets and India are being followed by news of a $30 billion deal between Indian and Swiss banks to help build a massive new facility for international payments, CNBC reported.
That deal, however, was also cancelled.
The new deal was a major blow to Indian banks, who have seen the rupee plunge in recent months as investors rushed to cash out their cash holdings, and are now facing mounting regulatory and capital constraints.
The Swiss bank also announced plans to invest $1 billion in a new facility that will help build up India’s bitcoin and other crypto-currencies.
In an interview with CNBC, the bank’s managing director, Martin Gies, said the deal was in line with its strategic focus of “investing in emerging markets” and that it will allow the bank to better manage India’s nascent cryptocurrency industry.
The deal will help India develop a platform that “makes it easier for us to facilitate international payments through our global banking system,” Gies said.
“We have been developing an open platform for more than two years and this is the first step in that direction.”