Sensex rises over 150 points in early trade
The Hindu
The broader NSE Nifty tops 15,850
Equity benchmark Sensex surged over 150 points in early trade on Tuesday, July 27, 2021, tracking gains in index majors HDFC Bank, ICICI Bank and Tata Steel amid a positive trend in global markets. The 30-share BSE index was trading 155.51 points or 0.29 per cent higher at 53,007.78 in initial deals, while the broader NSE Nifty rose 48.15 points or 0.30 per cent to 15,872.60. Tata Steel was the top gainer in the Sensex pack, rising more than 1 per cent, followed by ICICI Bank, HDFC Bank, IndusInd Bank, Maruti, Titan and SBI.
GCCs keep India’s tech job market alive, even as IT services industry embarks on a hiring moratorium
Global Capability Centres, offshore subsidiaries set up by multinational corporations, mostly known by an acronym GCCs, are now the primary engine sustaining India’s tech job market, contrasting sharply with the hiring slowdown witnessed by large firms in the country.
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.
Indian stock markets closed lower amid volatility, with key firms lagging as global trends influenced trading activity.
Bharti and Warburg Pincus invest in Haier India, acquiring a 49% stake to enhance growth and innovation in consumer durables.
India's net FDI remains negative for October 2025, with outflows surpassing inflows amid trade deal uncertainties.
Bombay High Court halts fraud notices to Anil Ambani, questioning banks' compliance and the audit's validity.
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The rupee gains 12 paise to 89.51 against the U.S. dollar, buoyed by RBI's liquidity support.
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