Business News Highlights: Trading Week Ahead Shortened By Festivals, Markets To Observe Global Cues
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The stock market closed the trading week with gains after registering losses in early trade during the last trading session on Friday. After declining more than 200 points in the morning, the S&P BSE Sensex ended the trading day at 72,832, climbing nearly 200 points. On the other hand, the NSE Nifty50 breached the 22k mark in early trade, but recovered and settled almost 100 points higher at 22,097.
The markets maintained the trading pattern earlier in the week as well. Further, on Friday, the Directorate General of Civil Aviation (DGCA) imposed a fine of Rs 80 lakh on Air India for flouting flight duty and fatigue management norms. This indicated at least the third time that the carrier received penalties from the aviation regulator in a span of less than two months. The airline didn’t adhere to the rest provisions mentioned for the flight crew before and after ultra-long-haul flights, among other violations, the regulator informed.
The trading week ahead will remain shortened on account of the upcoming festivals of Holi and Good Friday. On Monday, March 25, the country will be celebrating Holi, the festival of colours, and on Friday, March 29, the Christian festival of Good Friday will be celebrated. The markets will observe a holiday to mark both festivals. The markets earlier observed a holiday at the beginning of the month on March 8 to celebrate the festival of Maha Shivratri.
According to a report by Reuters, Indian IT firm, Wipro, promoted six of its employees to senior vice president roles and 25 others to vice president roles in order to manage senior-level attrition and strengthen its internal leadership. The news agency saw two internal memos and reported the strategic hiring.
FPIs Witness Consistent Rise In Debt Investments
V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted on Saturday that foreign portfolio investment (FPI) in India during this fiscal year has shown consistent growth, particularly in debt investments, contrasting with the fluctuating nature of equity investments. He noted that this upward trajectory in debt investment has persisted into March as well, with inflows totalling Rs 13,223 crore in debt by the end of March 2022.
Indeed Introduces Specialist Media Networks For Tech Talent Acquisition In India
The employment platform Indeed unveiled its latest initiative, Specialist Media Networks, in India on Friday. Geared towards aiding employers in the recruitment process for demanding and competitive job positions, this innovative platform focuses on filling challenging roles that are often difficult to staff.
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