Indices at previous closing
Nifty50: 17,222 ▼22 (-0.1%)
Sensex: 57,595 ▼89 (-0.1%)
Nifty Bank: 35,527 ▼620 (-1.7%)
For more updates on F&O, click here.
Teamlease says hiring trend to continue
The management of the flexi-staffing company has reportedly said that it expects the strong trend of hiring to continue over the next few quarters. It added that sectors such as BFSI, e-commerce, consumer and retail are witnessing much stronger demand.
The company also said that salary inflation was substantially high last year. The general staffing and IT businesses witnessed salary hikes of 10% and 12%-13%, respectively. Meanwhile, shares of Teamlease were up 0.1% yesterday.
Tarsons confident of a larger market share
According to reports, the recently listed labware product maker’s management has said that it will be able to hold 25% market share going forward. It currently holds 12.5% market share in the Indian labware markets.
The management said that it is entering the cell cultures and PCR products segment. It also said that it will be increasing its capacity for existing as well as new products. Meanwhile, shares of Tarsons Products were down 1.2% yesterday.
Oil to stay above $100 per barrel
Crude oil prices are unlikely to drop below the $100 per barrel mark till there is a ceasefire between Russia and Ukraine, according to experts at KPMG. Prices have continued to move upward as the sanctions have impacted Russian output.
It’s important to note that Russia accounts for the supply of nearly 3 million barrels of oil per day. Experts believe that a positive outcome could emerge if the markets get a better idea of how long the war could continue.
Sectoral indices (March 24)
| Top gainers | Top losers |
| Nifty Media ▲ 5.9% | Nifty Bank ▼ 1.7% |
| Nifty Metal ▲ 1.5% | Nifty Financial Services ▼ 1.5% |
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.3% |
| Nikkei 225 (Japan) | ▲ 0.3% |
| Hang Seng (Hong Kong) | ▼ 0.4% |
| SSE Composite (China) | ▲ 0.0% |
| Dow Jones (US) (March 24) | ▲ 1.0% |
| NYSE (US) (March 24) | ▲ 0.8% |
| Nasdaq (US) (March 24) | ▲ 1.9% |
| S&P 500 (US) (March 24) | ▲ 1.4% |
Fact of the day
India is now the sixth largest stock market in the world with a market capitalization of over $3 trillion.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.