Global cues dent equities; metal stocks fall (Roundup)


Mumbai, Oct 1 | Weak global cues along with profit booking dented India’s key equity indices — S&P BSE Sensex and NSE Nifty50 — for the fourth consecutive session on Friday.

In the day’s trade, the market struggled at lower levels after a gap down opening. It mildly recovered towards the end of the day.

Globally, Asian equities traded sharply lower as risk sentiment soured amid growing worries that inflation may persist even after global growth has peaked.

European equities started the day on a lower note, as concerns about economic stagflation and US monetary policy combined with surging energy prices and risks of a slowdown in China’s industrial, property sectors could prolong a downturn in global stock markets.

On the domestic front, metals and consumer durables indices rose the most, whereas realty, telecom and IT indices fell the most.

The 30-scrip S&P BSE Sensex closed at 58,765.58 points, down 360.78 points or 0.61 per cent. The Sensex opened at 58,889.77 points from its previous close of 59,126.36 points.

Besides, the NSE Nifty50 closed at 17,532.05 points, down by 86.10 points or 0.49 per cent.

“On daily charts, the Nifty has formed a ‘doji’ like pattern after a downgap suggesting a possible halt to the fall temporarily,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

“A range of 17,355-17,452 could be an important support for the Nifty while 17,620 could act as a resistance. 17,792 on the upside seems difficult to breach in the near term,” he added.

According to Siddhartha Khemka, Head, Retail Research, Motilal Oswal Financial Services: “Equity markets started the month of October on a negative note, reflecting weak global sentiments.

“On the macro front, September auto sales numbers came in lower than expectations. The government on the other hand is exploring banning of diesel generators in the residential areas as it aspires to move towards cleaner energy.”

Vinod Nair, Head of Research at Geojit Financial Services, said: “Despite favourable growth in India’s core sector output, which accelerated by 11.6 per cent in August from 9.9 per cent in July, domestic indices were in the red, reflecting weak global cues and losses in heavyweights.

“High Eurozone inflation at 3.4 per cent in September slowed global growth and the existing Chinese crisis bolstered global sell-off. The auto sector is holding on despite weak sales, in anticipation of festival demand, as numbers from major manufacturers showed fall in September sales mainly due to semiconductor supply shortage.”

Source: IANS

Next Story

Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal


Please enter your comment!
Please enter your name here