Retail sector surpasses pre-pandemic levels with 47% y-o-y growth: Report

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Bengaluru, May 9 | As economic activities continue to surge, the job market is witnessing recovery across several sectors that were impacted by the pandemic, showcasing the highest growth in the month of April, according to a new report on Monday.

The report by the Monster Employment Index (MEI) showed that BFSI continues to remain the fastest job recovering sector with a 54 per cent annual growth rate followed by retail that grew 47 per cent annually and then production and manufacturing industry at 35 per cent.

The re-opening of brick-and-mortar stores have resulted in a sharp rise in the retail job market. Easing of Covid-19 curbs have resulted in consumers frequenting recreational centres such as malls, creating a demand for retail talent following improvement in supply chain disruptions and global mobility resuming, growth has been witnessed in import and export (up 29 per cent) and travel and tourism (up 15 per cent) sectors as well.

“The aggressive comeback of the retail sector testifies to its resilience and potential as a strong contributor to our GDP. Tech led innovation across sectors will also ensure continued demand for tech roles across sectors as we consumers increasingly embrace a digital-native lifestyle,” said Sekhar Garisa, CEO – Monster.com, a Quess company, in a statement.

India registered an overall growth of 15 per cent year-on-year and 4 per cent month-on-month in hiring demand as a result of increased positive business sentiment in the month of April.

While leadership roles with experience of 16+ years exhibited steepest growth of 29 per cent amongst all experience levels, intermediate and mid senior level roles showed growth of 24 per cent and 22 per cent respectively. Fresher roles or entry level roles too showed stable high teenage growth.

However, media and entertainment (down 17 per cent) still observed fewer job opportunities since last year. Although a marginal dip has been registered in engineering, cement, construction, and iron/ steel (down 1 per cent), the industry has seen a revival in job activity this month, according to MEI data.

Further, Mumbai (up 29 per cent) again led all the monitored cities on a yearly basis on hiring, followed by Coimbatore (up 25 per cent), Chennai (up 21 per cent), Bangalore and Hyderabad (up 20 per cent each). Rest all metro cities Delhi-NCR, Kolkata and Pune continued to reflect a positive year-on-year growth trend in the range of 6 to 18 per cent.

“The future of the job market is looking healthier by the day. With India achieving a new milestone of touching 100 unicorns, it is only a matter of time before these disruptive companies create further employment across sectors. The emergence of fintech, edtech, and D2C brands have definitely helped stimulate economic recovery at a much faster rate than traditional companies,” Garisa added.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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