After opening the day in the red, Indian share markets have continued to trade on a negative note. Sectoral indices are trading on a mixed note with stocks from the metal sector and the capital goods sector witnessing maximum selling pressure. Realty sector is witnessing buying interest.
The BSE Sensex is trading down 213 points (down 0.7%) and the NSE Nifty is trading down 74 points (down 0.8%). Meanwhile, the BSE Mid Cap index is trading up by 0.3%, while the BSE Small Cap index is trading flat. The rupee is trading at 64.22 to the US$.
As per an article in the Economic Times, there’s seen a pick-up in the activity in job markets lately. This comes as big recruitment firms witnessed a more than 10% YoY increase in July hiring.
The above growth was led by sectors such as banking and financial services, ecommerce, consumer goods, and telecom.
Furthermore, as per executives from recruitment firms, sectors which were subdued on the jobs front such as manufacturing, information technology (IT) and industrial services, are also said to pick up steam in the next few months.
The above development can come as a welcome breather for India, which is staring at a job crisis.
One shall note that India also faces threat from demographic disaster. Over 30% of India’s youth is unemployed, as can be seen from the chart below:
Demographic Disaster in the Making
So while the above development of job activity points towards an improvement, one shall keep an eye out for how the trend plays out in the next few months.
For investors, it becomes especially important to prepare oneself and one’s portfolio for any negative surprises that stem out of this scenario of joblessness in India.
Moving on to the news from the IPO markets. Cochin Shipyard made a flat debut today as the company’s share got listed at a 0.7% premium over its issue price on the BSE.