Monsoon, macro-data lift indices to new closing high, realty stocks rise (Roundup)

9

Mumbai, Sep 2 | Healthy monsoon season, as well as better-than-expected macro economic data and inflow of foreign capital, lifted India’s key stock indices to close at record high on Thursday.

Initially, both key indices — S&P BSE Sensex and NSE Nifty50 — had a gap up opening and kept rising through the day to close almost at the intra day high.

Globally, Asian markets closed on a mixed note as investors waited for the US jobs data, while European stock markets traded largely unchanged on Thursday.

Nifty50 reached a fresh record high of 17,245.50 points, while Sensex reached a record high of 57,892.37 points.

On sector-specific basis, the auto index was the sole loser during the day’s trade, while realty, consumer durables, IT, and FMCG were the main gainers.

At the end of the day’s trade, Sensex settled at 57,852.54, higher by 514.33 points, or 0.90 per cent, from its previous close.

Nifty closed at 17,234.15 points, higher by 157.90 points, or 0.92 per cent, from its previous close.

“Nifty reversed the losses of the previous day and nullified the bearish signal,” HDFC Securities’ Head of Retail Research, Deepak Jasani, said.

“Advance decline ratio has improved to much above 1:1. FPIs seem to be in a mood to keep buying Indian stocks. The Nifty keeps breaching resistances one after the other in fresh territory. Nifty could now stay in the 17,340-17,154 band for the next 1-2 sessions.”

Motilal Oswal Financial Services’ Retail Research Head Siddhartha Khemka said: “Going ahead, the market is likely to continue with its positive momentum as economic recovery and vaccination drive both continue their northward journey.”

“Though the long term trend is positive, one cannot ignore bouts of volatility, given risk of third wave of pandemic, commodity-linked inflation, high earnings growth expectation leading to rich valuation.”

Geojit Financial Services’ Research Head Vinod Nair said: “Economic data is nudging the performance of core sectors like capital goods and industrials while the recent high performance of the market is also tempting investors to shift to safer defensive sectors.”

“All major sectors followed the market trend while the auto sector lost ground due to weak sales.”

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 Campusutra.com  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

LEAVE A REPLY

Please enter your comment!
Please enter your name here