Sensex tanks 678 points; Nifty ends below 17,700
The Hindu
Tech Mahindra was the top loser in the Sensex pack, shedding over 3%, followed by NTPC, IndusInd Bank, Kotak Bank and Reliance Industries.
Equity benchmark Sensex tanked 678 points on Friday, tracking losses in index majors Reliance Industries, Infosys and HDFC Bank amid a weak trend in global markets.
The 30-share index plunged 677.77 points or 1.13% to end at 59,306.93. Similarly, the NSE Nifty fell 185.60 points or 1.04% to 17,671.65.
Tech Mahindra was the top loser in the Sensex pack, shedding over 3%, followed by NTPC, IndusInd Bank, Kotak Bank and Reliance Industries.

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.










