Stock Market

Sensex, Nifty consolidate; Lupin, Adani Ports top gainers


Chillicious Team

2:55 pm IT jobs:

Jobs in the Indian IT sector are likely to remain stable at least till 2020 as per a report from World Economic Forum, Parliament was informed today.

“According to a research report from WEF released recently, jobs in India’s IT sector are likely to remain stable at least up to 2020,” IT and Communications Minister Ravi Shankar Prasad said in a written reply to Rajya Sabha.

Prasad further said according to Nasscom, the Indian information technology (IT) and information technology enabled services (ITeS) industry continues to be the largest private sector employer and a net hirer of personnel and employs about 3.7 million people.

“Further, as per Nasscom-Mckinsey study ‘Perspective 2015’, about 1.2-2 million people will be added to the IT-ITeS workforce by 2020,” the minister said.

2:45 pm RBI & Finance ministry meet: Finance Ministry and Reserve Bank officials will meet on March 18 to decide on the borrowing calendar of the government for April-September period of the next fiscal.

In the Budget, the government has pegged gross market borrowing at Rs 6 lakh crore, up from Rs 5.8 lakh crore in the ongoing fiscal. Gross borrowing includes repayments of past loans and interests.

“The market borrowing calendar for the first half of next fiscal would be decided on March 18. RBI and Finance Ministry will a call on whether to front load the borrowing in such a manner that it is non-disruptive,” a source said.

As per the Budget, the net borrowings from market in next fiscal would be Rs 4.2 lakh crore, down from Rs 4.4 lakh crore in the current fiscal.

2:35 pm Europe rallies: European equities were trading higher following the European Central Bank’s (ECB) decision to introduce more aggressive easing measures.

Germany’s DAX was 2 percent higher, while the FTSE 100 was up 1.5 percent and the Frech CAC40 rose 2.14 percent.

The sector showing by far the biggest gains was banking, up 3 percent.

2:15 pm Tata Motors arm to launch robot: Tata Motors arm TAL Manufacturing Solutions is set to launch its industrial articulated robot named BRABO priced between Rs 4 lakh and Rs 10 lakh in the Indian market.

The company is also eyeing the SAARC markets with its customisable indigenously developed robot that can handle payloads of 2, 5 and 10 kg targetting medium and small enterprises, TAL Manufacturing Solutions said in a statement.

TAL Manufacturing Solutions Executive Director & CEO Rajesh Khatri said: “We are quite excited and aspire to robolutionize the industry with our strong value proposition.

As an aspiring nation looking to fast-tracking its industrial growth, affordable automation is the need of the hour, he added.

Also read – Global mkts to remain range-bound; better to be cautious: Sanger

2:00 pm Market Check

The market continued to consolidate in afternoon trade due to lack of major domestic and global cues. The Sensex rose 62.22 points to 24685.56 and the Nifty climbed 10.65 points to 7496.80.

The broader markets were volatile too but the market breadth remained weak as about 1448 shares declined against 996 advancing shares on the BSE.

Lupin and Adani Ports topped buying list on Sensex, up around 1.5 percent while Coal India and ONGC fell around a percent.