Fag-end buying helped the domestic equity benchmarks the Sensex and the Nifty end in positive territory on May 25 on the expiry day of the May futures and options (F&O) series even as global cues were weak due to the dragging debt ceiling negotiations in the US.
The debt ceiling negotiations have dealt a blow to the risk appetite of investors as the US government has not been able to strike a deal so far on raising the debt ceiling.
“Negotiators for Democratic President Joe Biden and top congressional Republican Kevin McCarthy held what both sides called productive talks on Wednesday as they race to reach a deal to raise the debt ceiling,” reported Reuters.
US dollar and bond yields have been rising as investors are avoiding riskier equities and rushing to safe-haven assets.
Sensex closed 99 points, or 0.16 per cent, higher at 61,872.62 while the Nifty ended at 18,321.15, up 36 points, or 0.20 per cent.
(More to come)
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