Sensex sinks 621 points amid global sell-off
The Hindu
BSE index ended at 59,601 while Nifty plunged to 17,745
Equity benchmark Sensex plummeted 621 points on Thursday, weighed by deep losses in index majors HDFC twins, Reliance Industries and TCS amid a sell-off in global markets.
World stocks spiralled lower after minutes of Federal Reserve's recent meeting indicated that the U.S. central bank may hike interest rates faster to cool inflation, traders said.
The 30-share BSE index ended 621.31 points or 1.03% lower at 59,601.84. Similarly, the NSE Nifty plunged 179.35 points or 1% to 17,745.90.

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.

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.










