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Stock Market Updates: Sensex, Nifty Lose Early Gains Due to High Volatility; Tata Steel Drops 10%

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Stock Market Updates: Sensex, Nifty Lose Early Gains Due to High Volatility; Tata Steel Drops 10%

The Sensex and Nifty opened in the green on Monday, following a volatile week, as SGX Nifty futures faded early gains. The Sensex was up 288.99 points, or 0.53 percent, to 54615.38 at 09:16 IST, while the Nifty was up 77.80 points, or 0.48 percent, to 16344. In terms of the overall market, 1563 shares have advanced, 531 shares have declined, and 98 shares have remained unchanged in the first session.

The top gainers on the Sensex were Maruti, NTPC, M&M, Titan, Nestle, Asian Paints, IndusInd Bank, Ultratech Cement, Kotak Bank, and Dr Reddy’s, which rose up to 4%. Tata Steel, on the other hand, has lost 10% of its value.

Steel stocks are likely to experience a short-term correction as the imposition of export duties on certain steel products is detrimental to the sector, whereas a reduction in customs duties on raw materials and the resulting lower steel prices would benefit sectors like construction, capital goods, and automobiles.

Metal stocks, on the other hand, fell as steel export duties were raised. Tata Steel and JSW Steel both fell 10%, leading the Sensex and Nifty indexes lower.

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Markets in general were mixed. The BSE MidCap index increased by 0.16 percent, while the BSE SmallCap index fell by 0.11 percent.

The Nifty Metals index fell more than 6%, while the auto index gained more than 2%. Real estate and consumer durables were also up. While the Nifty IT and financials gained only slightly.

The ‘risk-off, risk-on roller coaster market,’ according to Dr VK Vijayakumar, chief investment strategist at Geojit Financial Services, is set to continue in the near term. Last Friday’s rebound in the S&P 500 from bear market territory could indicate that the market is unlikely to turn long-term bearish. The market will be closely watching macroeconomic data from the United States in the coming days. The government’s aggressive anti-inflation measures, such as lowering excise duties on gasoline and diesel and other initiatives to lower steel prices, will relieve the RBI of some of its inflation-controlling responsibilities. Despite the fact that this is a positive from a market standpoint, the government’s additional borrowing and fiscal deficit exceeding budget estimates are areas of concern.”

Fears of a recession pushed the S&P500 into a bear market briefly on Friday before closing flat. The Dow ended the day unchanged, while the Nasdaq fell 0.3 percent. However, stock futures in the United States gained more than 1% on Monday.

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This morning, Asian markets were mixed. On Monday, Asian stocks were hit by persistent concerns about inflation and rising interest rates, as well as fresh selling in technology stocks, which weighed on Chinese markets. After U.S. stocks ended the previous session with negligible gains for the day, MSCI’s broadest index of Asia-Pacific shares outside Japan was flat. This month, the index is down 3.6 percent. The Hang Seng Index fell 0.38 percent, while the mainland’s CSI300 fell 0.37 percent, indicating a negative tone. The Nikkei stock index in Japan was up 0.8%.

 

Lifestyle

10 best activities hacks for the better lifestyle for Business Managers.

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10 best activities hacks for the better lifestyle for Business Managers.

Business managers, known for their dynamic and demanding roles, are now adopting innovative activity hacks to improve their lifestyle and well-being. Recognizing the importance of work-life balance and personal wellness, these leaders are implementing a range of activities to foster physical health, mental clarity, and overall satisfaction in their professional and personal lives.

Mindfulness at Work lifestyle

Business managers are incorporating mindfulness practices, such as meditation and deep breathing exercises, into their daily routines to reduce stress and increase focus in high-pressure situations.

Regular Exercise Breaks

Amid tight schedules, managers are embracing short exercise breaks, such as brisk walks or stretching exercises, to stay active throughout the day and boost their energy levels.

Nutrition and Healthy Eating

Prioritizing their well-being, managers are adopting healthier eating habits, including nutritious snacks and well-balanced meals, to sustain their energy during demanding workdays.

Time Management Workshops

Business managers are attending time management workshops to enhance their organizational skills, enabling them to efficiently juggle multiple responsibilities and achieve better work-life integration.

Skill Development Seminars

Recognizing the value of continual growth, managers are attending skill development seminars to stay updated on industry trends and enhance their leadership abilities.

Flexible Work Arrangements

Some forward-thinking companies are offering flexible work arrangements to business managers, providing the freedom to create a more harmonious work-life balance.

Social Engagement

Building a sense of camaraderie, managers are engaging in team-building activities and networking events to foster positive relationships within their professional circles.

Unplugging from Technology: In a digital era, managers are prioritizing personal time by unplugging from technology during non-working hours, allowing for genuine relaxation and recharging.

Pursuing Hobbies and Interests

Managers are rediscovering their passions outside of work, be it painting, gardening, or playing a musical instrument, to unwind and find fulfillment beyond their professional roles.

Encouraging Employee Wellness

Some managers are also promoting wellness initiatives within their teams, encouraging their employees to embrace similar activity hacks and lead healthier lives.

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