Some experts feel that Trump's trade protectionist views could have some negative impact on India's exports and might exert some pressure on the rupee in the short term.
The Sensex surged to a record high, closing above 85,000, while the Nifty crossed the 26,000 mark, driven by gains in banking, IT, and auto sectors. Strong earnings and economic indicators fueled the rally.
The market faced broad-based selling pressure across sectors, with financial, IT, and energy stocks among the top laggards. However, select FMCG and pharmaceutical stocks showed resilience, offering some support to the market.
The Sensex surged by 443 points, closing at a new all-time high of 79,476.19, while the Nifty climbed 131.35 points to 24,141.95, both reaching fresh lifetime highs on Monday. Key contributors to the rally included Tech Mahindra, UltraTech Cement, Bajaj Finance, and Infosys.
The 30-share BSE Sensex settled up 16.17 points or 0.03 percent at 53,177.45. During the day, it had declined 389.75 points or 0.73 percent to 52,771.53. The NSE Nifty gained 18.15 points or 0.11 percent to 15,850.20.
From the Sensex pack, Maruti, M&M, Asian Paints, Bharti Airtel, TCS and Hindustan Unilever among others were the major gainers. On the other hand, Reliance Industries, NTPC, Power Grid and UltraTech Cement were the laggards.
IT services major HCL Technologies on Monday posted a 9.9 percent rise in consolidated net profit to Rs 3,214 crore for the June 2021 quarter, and exuded confidence in logging double-digit constant currency growth in FY22 on the back of a strong deal pipeline.
Budget 2020: With the US and China racing ahead of India in AI research, AI entrepreneurship and government investment in AI is much needed.
India's prowess in Information Technology (IT) sector could be utilized in an increased measure in Russia to strengthen the bilateral strategic partnership further.
The top-seven Indian based companies received only 8,468 approved H-1B visa petitions in the financial year 2017, a decline of 43 percent for these companies since the financial year 2015.
Pai, a former CFO of Infosys, said these companies are taking advantage of "over-supply" of engineers and seeking to command the market, terming this trend "totally wrong".
Rubbishing reports indicating widespread job losses in the slowdown-hit IT industry, the former Infosys CFO said that there is no crisis of jobs in the industry and that people going away is just part of normal attrition
Chinese businesses there looking to collaborate with Indian IT firms in complex areas like big data analysis to put them to wider use
The IT firm has said that it will continue to provide support to existing applicants but will not file fresh applications. EB2 and 3 visas are for skilled workers and professionals, mid and lower level employees
Calls for formation of an IT employee union gathered momentum after reports of large scale layoffs by several IT companies in view of the toughening stance on work visas and increasing automation in the industry
With top IT firms laying off professionals, the IT-software industry was hit the most with a 24 per cent fall in hiring in April this year as compared to April 2016, according to a survey by job site
The government has categoric assurance from the industry in this regard, IT Secretary Aruna Sundararajan emphasized today
In a worrying news for techies, an executive search firm on Sunday said that IT sector will witness job cuts between 1.75 lakh and 2 lakh annually for next three years.
Top Indian companies in the Information Technology sector are deliberately underpaying the freshers they hire, industry veteran T V Mohandas Pai has claimed, adding that the companies have taken advantage of the oversupply of software engineers at th
US President Donald Trump's 'buy American-hire American' campaign has sent flutter down in $150-billion Indian IT sector, which is keepping a close watch on how the new administration evolves policies around outsourcing and movement of
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