Indian equity benchmarks ended on a higher note on Wednesday. Indices made a cautious start, amid reports that workers in India are facing increased burnout due to lack of separation between work and personal life as well as concerns of contracting COVID-19. Close to one-third of workers in India cited increased rates of burnout over the past six months with the lack of separation between work duties and personal obligations as negatively impacting their well-being. Traders took note of report that the RBI is widely expected to keep rates steady when its two-day monetary policy committee (MPC) meeting concludes on October 09.
equity benchmarks gained traction and remained higher for the almost whole trading day, taking support with report that companies garnered more than Rs 1 lakh crore from the capital markets in August, a surge of 64 percent from the preceding month, with private placement of debt instruments emerging as the most preferred route for financing business needs. The funds have been mopped-up mainly for business expansion plans, loan repayments and working capital requirements.
On the global front, European markets were trading mostly in red after mixed economic data. Asian markets ended mostly higher on Wednesday, after Fitch Ratings maintained sovereign ratings of South Korea citing strong external finances, steady macroeconomic performance and sufficient fiscal headroom going into the coronavirus pandemic. The sovereign ratings were maintained at 'AA-', with a stable 'outlook'. Although the pandemic has weighed on economic growth and public finances, domestic control of the virus accompanied by a robust policy response have limited the severity of the Market.