Oil, gas, petroleum, power and retail were the sectors that led the annual growth. Overall online job demand in the oil/gas/petroleum and power sectors rose 30% in May, the Monster Employment Index noted
New Delhi: Recruitment trends improved last month, primarily driven by increased hiring activities in sectors such as oil, gas, petroleum, power and retail, reports PTI quoting job portal Monster.Com.
Indicating better hiring trends, the Monster Employment Index—a monthly gauge of online job demand—climbed 12% in May 2011 as compared to the year-ago period.
“The index continues to record a positive year-over-year trend, with strong pockets of demand for professionals within the IT, oil/gas and automotive sectors," Monster.Com’s managing director (India/West Asia/South East Asia) Sanjay Modi said in a statement today.
Oil, gas, petroleum, power and retail were the sectors that led the annual growth. Overall online job demand in the oil/gas/petroleum and power sectors rose 30% in May.
“Sales and business development occupations recorded notable expansion in online demand, while opportunities in finance and accounts declined,” the statement said.
As per Monster.Com, Coimbatore saw the highest annual growth among cities in terms of job opportunities.
“All cities monitored by the index have registered positive annual growth indicating substantial opportunities for workers in these key markets,” Mr Modi noted.
If Nifty falls below 5,480, the market will head lower
The market opened flat ahead of the weekly food inflation figures, with the Sensex just one point over its previous close of 18,395 while the Nifty shed three points to resume trade at 5,524. Concerns about the slowdown across the world also kept investors guarded. The Sensex touched its intra-day high in the first hour of trade at 18,450 and the Nifty climbed to 5,540 in noon trade.
The gauges were range-bound, when the announcement of a nearly one percentage hike in food inflation numbers put some pressure on the market, pushing the indices to intra-day lows in noon trade. At the day's low the Sensex was down 67 points at 18,327 and the Nifty had lost 25 points to 5,502.
Subsequently, some buying in select stocks along with a positive opening on key European bourses enabled the domestic indices inch into the green, even as volatility continued through the session. The market closed near the opening levels with the Sensex shedding nine points to 18,385 and the Nifty losing six points at 5,521.
Today the Nifty was not able to touch the first resistance of 5,550, signalling a pause in the uptrend. However, we can still expect the current upmove to continue if the Nifty can manage to stay above 5,480.
The advance-decline ratio on the National Stock Exchange was 607:780.
Among the broader markets, the BSE Mid-cap index was down 0.12%, while the BSE Small-cap index added 0.08%.
BSE Consumer Durables (up 1.44%), BSE Capital Goods (up 0.92%) and BSE Power (up 0.30%) were the noteworthy gainers in the sectoral space. The losers were led by BSE Auto (down 0.57%), BSE Healthcare (down 0.32%) and BSE IT (down 0.15%).
NTPC (up 1.74%), Larsen & Toubro (up 1.27%), BHEL (up 0.91%), Reliance Industries (up 0.71%) and TCS (up 0.59%) were the top performers on the Sensex. The laggards were Jaiprakash Associates (down 1.85%), ONGC (down 1.80%), State Bank of India (down 1.31%), Hero Honda (down 1.29%) and Reliance Communications (down 1.27%).
The top Nifty gainers were SAIL (up 1.94%), L&T (up 1.66%), NTPC (up 1.51%), Axis Bank (up 1.43%) and BHEL (up 1.25%). The major losers were Ambuja Cement (down 2.13%), Jaiprakash Associates (down 2.09%), BPCL (down 2.02%), ONGC (down 1.87%) and Kotak Bank (down 1.57%).
Economic concerns continued to roil the Asian markets for yet another day. Adding to the disappointing jobs data from last week, Australia created only 7,800 jobs in May, after a fall of 29,000 in April, government data showed. Hong Kong shares fell for a sixth straight session, mainly on a sell-off in banking stocks. The Chinese benchmark index closed at its lowest in four-and-half months on concerns about further rate-tightening steps by the country's central bank.
The Shanghai Composite tumbled 1.71%, the Hang Seng fell 0.23%, the Jakarta Composite declined 0.51%, the KLSE Composite shed 0.06%, the Straits Times was 0.17% down, the Seoul Composite ended 0.57% lower and the Taiwan Weighted fell 0.07%. Bucking the trend, the Nikkei 225 gained 0.19%.
Back home, participation by institutional investors was meagre on Wednesday. Foreign institutional investors were net buyers of stocks worth Rs50.43 crore and domestic institutional investors were net buyers of equities worth Rs85.47 crore.
Prime Minister’s Economic Advisory Council chairman C Rangarajan exuded confidence that headline inflation would decline down to 6.5% by March 2012 and that monsoon would lead to a decline in prices from the current level of 8.66% (April)
New Delhi: On a day when food inflation again breached the 9% mark after a gap of two months, prime minister’s top economic advisor C Rangarajan today said prices will decline by the end of October in the event of a good monsoon, reports PTI.
“If the monsoon is favourable, food prices will come down over the next 2-3 months. Overall inflation rate will come down slowly by October-end”, Prime Minister’s Economic Advisory Council (PMEAC) chairman C Rangarajan told reporters here.
Mr Rangarajan also exuded confidence that headline inflation would decline down to 6.5% by March 2012 and that monsoon would lead to a decline in prices from the current level of 8.66% (April).
“Once the monsoon picture becomes clear, I expect decline in prices. We could see WPI (wholesale price index based inflation) at 6.5% by March-end,” Mr Rangarajan said.
Food inflation jumped to a two-month high of 9.01% for the week ended 28th May on account of costlier fruits, onions and protein-based items.
The PMEAC, which proposes to come out with its Economic Outlook for 2011-12 next month, today held detailed discussions with industry leaders during which the issue of inflation figured prominently.
The industry representatives also expressed concerns over high interest rate and its impact on economic growth.
Other issues that came up for discussion include land acquisition laws, slow growth in exports in certain sectors like textile, infrastructure bottlenecks and other impediments threatening the industrial growth.