Indian stock benchmarks kicked off Tuesday's trade in the green after a lull in the previous session, largely tracking firm overnight gains in the US markets.

Indian Stocks In Green Tuesday; US Fed Minutes Eyed For Fresh Cues

by Manisha Das

NEWS HIGHLIGHTS

Indian stock benchmarks kicked off Tuesday's trade in the green after a lull in the previous session, largely tracking firm overnight gains in the US markets.

New Delhi, Nov 21: Indian stock benchmarks kicked off Tuesday's trade in the green after a lull in the previous session, largely tracking firm overnight gains in the US markets.

At the opening bell, Sensex and Nifty indices in India were around 0.5 per cent higher each from their Monday closing. Barring Nifty FMCG, all other sectoral indices were substantially this morning with Nifty Metal the top mover.

On Monday, markets started the week on a subdued note and closed almost unchanged.

"Amid all, we reiterate our bullish view on the index and suggest continuing with the "buy on dips" approach. Traders should stick with the other performing sectors and utilise this phase to gradually add quality names," said Ajit Mishra, SVP - Technical Research, Religare Broking.

Going ahead, the US Federal Open Market Committee minutes from its last meeting, due on Tuesday, will be eyed by investors for fresh market direction. The minutes will likely give some idea about the future course of monetary policy action of the US central bank.

This week will also see several IPOs up for subscription in the Indian stock exchanges. Reportedly, Tata Technologies, Indian Renewable Energy Development Agency (IREDA), Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery will be opening their IPOs for subscription.

"While the recent softening of inflation in the US & India and the negative trend of crude are expected to help the view on global equity and India in the short term. In that context, the ease in FIIs selling is helping the domestic markets but continues to consolidate primarily due to India's premium valuation relative to global peers," said Vinod Nair, Head of Research at Geojit Financial Services.

"In this scenario, the IT sector is benefiting; however, valuation continues to be on the higher side compared to long-term history, suggesting a cautious approach in the sector in the medium term," added Nair.

(ANI)

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Musk's X Sees Wave Of Resignations From Sales Team After Giving Bonus: Report

by Pabitra Mohan Senapaty

San Francisco, Dec 1: Elon Musk-run X Corp has witnessed a wave of resignations from the sales team over the past month, media reports said.

According to a report by Claire Atkinson, the sales staff started exiting the company shortly after X gave out bonus checks in November.

The microblogging platform has experienced a wave of resignations from both senior and junior employees, making this a chaotic month for the site and its owner.

According to the report, X is running its headquarters with a skeleton crew and its advertising business is losing money.

Meanwhile, Musk stunned the world when he told advertisers to "go f*** yourself" late on Wednesday after some top companies pulled advertising on his platform over his endorsement of anti-Semitism.

At The New York Times' DealBook Summit, when Andrew Ross Sorkin asked the X owner about pauses in advertising, Musk replied: "Don't advertise."

"You don't want them to advertise?" Sorkin asked him. "If somebody's going to try to blackmail me with advertising, blackmail me with money? Go f*** yourself," Musk said.

Musk's remarks came after he promoted an anti-Semitic post on X last month and faced a storm of criticism. However, he apologised for what he called his "dumbest" ever social media post on Semitism.

Companies that have paused or pulled advertising on X in the last few weeks include Apple, Comcast/NBCUniversal, Disney, Warner Bros. Discovery, IBM, Paramount Global, Lionsgate and the European Commission.

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Suvendu Adhikari Files RTI Seeking Details Of Recruitment In State Health Services Since 2011

by Pabitra Mohan Senapaty

Kolkata, Dec 1: The leader of opposition in West Bengal Assembly, Suvendu Adhikari, said on Friday that he has filed an application under Right to Information (RTI) Act seeking details of all recruitment made in the state health services since 2011, the year Trinamool Congress came to power by ending Left Front's 34-year rule.

Adhikari said he suspects massive irregularities in the recruitment in state health services, just like the alleged school jobs and municipal recruitment scams, which are being probed by central agencies.

“I have been informed by my reliable sources from within the West Bengal Health Recruitment Board that there have been serious irregularities in the recruitment process since 2011. Transfers are effected according to the whims and fancies of a few influential individuals. In order to get to the bottom of this, I have filed an application under the RTI Act,” Adhikari said.

In the application to the state public information officer of the Health & Family Welfare Department, a copy of which is available with IANS, Adhikari has sought to know the number of people recruited by the department since 2011.

He has also sought the numbers and names in a yearly order along with the categories of positions and designations for which the recruitment were made.

“Kindly provide the name of the hospitals or any other place of work (if applicable) along with the location details where they were initially posted,” the application read.