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Nashik (Maharashtra) [India], May 24 (ANI): Actor <keyword id="478412" type="General" weightage="80" keywordseo="nitesh-pandey" source="Orion">Nitesh Pandey</keyword>, who was best known for his role as <keyword id="960950" type="General" weightage="50" keywordseo="dheeraj-kapoor" source="Orion">Dheeraj Kapoor</keyword> in <keyword id="5026" type="General" weightage="50" keywordseo="rupali-ganguly" source="Orion">Rupali Ganguly</keyword>'s famous TV drama '<keyword id="15588" type="General" weightage="80" keywordseo="anupamaa" source="Orion">Anupamaa</keyword>' was found dead at a hotel in Nashik, the police said. According to Mumbai police, Nitesh was found dead at a hotel in Igatpuri, Nashik in Maharashtra. "Prima facie, the cause of death seems to be a heart attack," the officials said. They said that a police team is present at the hotel and an investigation has started. "Hotel staff and people close to him are being questioned and a post-mortem report is awaited," the police said while adding that further investigation into the matter is underway. More details are awaited. The actor was known for working in TV shows such as '<keyword id="17504173" type="General" weightage="50" keywordseo="manzilein-apapani" source="Orion">Manzilein ApApani</keyword>', 'Astitva...Ek Prem Kahani', 'Saaya', 'Justajoo' and 'Durgesh Nandini' and in films including 'Om Shanti Om', '<keyword id="29320" type="General" weightage="80" keywordseo="khosla-ka-ghosla" source="Orion">Khosla Ka Ghosla</keyword>', 'Badhaai Do', '<keyword id="853887" type="General" weightage="50" keywordseo="shaadi-ke-side-effects" source="Orion">Shaadi Ke Side Effects</keyword>', and 'Rangoon'. He also worked in theatre shows Pandey like 'Aastha' and 'Misal Pav'. Indeed, his passing away has created a vacuum. Recently TV industry also witnessed the loss of Aditya Singh Rajput and <keyword id="1759792" type="General" weightage="50" keywordseo="vaibhavi-upadhyay" source="Orion">Vaibhavi Upadhyay</keyword>. (ANI)

Khosla ka Ghosla and Anupamaa actor Nitesh Pandey found dead at Nashik hotel

It was 3 a.m. on Friday when all the four convicts in the Nirbhaya rape case were taken out from their barracks for a brief time. They were already awake as the "fear to be hanged" did not allow them to sleep. When the jail authorities asked them to finish their routine work and wear the new clothes provided by the jail authorities, they all broke down and fell at the feet of the jail staff. "It's not right to reveal their identity, but they were not in the right state of mind and wanted to talk to jail workers but could not say a single word. They even refused to have tea when it was offered," a <keyword id="56350" type="LOCATION" weightage="20" keywordseo="Tihar-jail">Tihar jail</keyword> source said. According to a Tihar headquarters source, "At around 5 a.m. the DCP of West District reached to meet these convicts. The Jail Superintendent introduced them to the DCP. Thereafter, they completed the <keyword id="65964" type="PERSON" weightage="20" keywordseo="Documentation">documentation</keyword> formalities." "After completing the documentation, they were taken out from their cells and their faces were covered with cloth," he added. An officer, requesting anonymity, told IANS: "They were not reacting to anything before their faces were covered but soon after they realised that they have reached the hanging room, one of them broke down and started crying and screaming. He almost fell down on the floor. But the jail staff took him to the hanging platform". Each of the convicts was accompanied by six wardens who took them to the hanging platform. When their feet were being tied, one of them started resisting but the security personnel restrained him. The convicts' hands were tied when they were taken out of their cells. Now, it was the time to deliver justice to Nirbhaya. All the convicts were supposed to be hanged at the same time but Pawan was the only hangman there to pull the lever, hence, the jail staff helped in pulling the other handles. Finally, at 5.30 a.m. when Jail Superintendent S. Sunil signalled that it was time to hang the convicts, Pawan and the other persons pulled the handles. After 30 minutes, the doctor who was present there, declared the convicts dead and their bodies were sent for post-mortem to <keyword id="114717" type="PERSON" weightage="20" keywordseo="Deen-Dayal-Upadhyay">Deen Dayal Upadhyay</keyword> hospital.

Nirbhaya convicts broke down just before they were hanged

<ul><li>And, as the Narendra Modi-led <keyword id="58687" type="ORGANIZATION" weightage="20" keywordseo="Bharatiya-Janata-Party">Bharatiya Janata Party</keyword> (BJP) government gears up for Delhi elections next month, Goel seems to be confident that the BJP will form the government in Delhi. </li><li>Goel, who became the president of BJP’s Delhi unit in 2013 argued that the two opposition parties — Congress and <keyword id="6354944" type="DEFINITION" weightage="20" keywordseo="aam-aadmi-party">Aam Aadmi Party</keyword> (AAP) — may forge an alliance in the upcoming assembly elections. </li><li>This is the first time that the national capital is going to polls after the Lok Sabha elections. In the 2019 Lok Sabha elections, BJP bagged all the seats in Delhi.</li></ul>Former Union Minister and senior BJP leader <keyword id="81821" type="PERSON" weightage="20" keywordseo="Vijay-Goel">Vijay Goel</keyword> is facing heat in the national capital amid the agitation around the JNU mob attacks and protests over Citizenship Amendment Act (CAA). And, as the Narendra Modi-led Bharatiya Janata Party (BJP) government gears up for Delhi elections next month, protests became a key electoral issue. In spite of it all, Goel is confident. "In the last Lok Sabha election, BJP won all seven seats and by that calculation, we won 65 Assembly seats in Delhi. We also won the last Delhi municipal corporation election. People of Delhi have seen development by the Modi government," Goel told ANI. ‘Blame game’ — The battle is on As campaigning is heated from both sides, the ruling AAP and the BJP engaged in a blame game. Goel, who became the president of BJP’s Delhi unit in 2013 argued that the two opposition parties — Congress and Aam Aadmi Party (AAP) — may forge an alliance in the upcoming assembly elections as both are in accord for protests over CAA, corruption and NRC (National Register of Citizens). Symbolic violation of odd-even rule As Delhi heads to assembly polls, pollution crisis, cracking down on unauthorised residential colonies and a full statehood are the key issues brought up by the AAP. However, the BJP calls it an ‘election stunt.’ A few months back, the Arvind Kejriwal-led AAP rolled out the odd-even scheme in Delhi to cut down on pollution levels. As a response, Goel said he would deliberately ride an odd-numbered vehicle on an even day, violating the rule. "My violation of odd-even scheme of the Kejriwal government will be symbolic because it's an election stunt and drama in view of assembly election," Goel <a href="https://www.news18.com/news/politics/bjp-mp-vijay-goel-says-will-violate-odd-even-scheme-calls-it-election-stunt-by-kejriwal-govt-2372387.html">told</a> PTI. However, taking a cue from the AAP, the BJP government rolled out the ‘jahan jhuggi wahin makaan’ (a home in place of a slum) scheme. It is dedicated to providing homes to over 20 lakh people living in the slums. Goel said that this housing scheme will be implemented on their newly claimed land. On January 10, BJP announced its 15-member election committee constituting the president <keyword id="6361217" type="PERSON" weightage="20" keywordseo="Manoj-Tiwari">Manoj Tiwari</keyword> and all the MPs in the state including Vijay Goel and <keyword id="322190" type="PERSON" weightage="20" keywordseo="Satish-Upadhyay">Satish Upadhyay</keyword>. This is the first time that the national capital is going to polls after the Lok Sabha elections. In the 2019 Lok Sabha elections, BJP bagged all the seats in Delhi. See also: <a href="https://www.businessinsider.in/delhi-election-2020-atishi-an-oxford-graduate-and-rhodes-scholar-is-drawing-up-aaps-agenda-in-the-national-capital/articleshow/73186471.cms">Delhi Election 2020: Atishi, an Oxford graduate and Rhodes scholar is drawing up AAP’s agenda in the national capital</a> <a href="https://www.businessinsider.in/gautam-gambhir-vs-atishi-marlena-from-east-delhi-election-results-2019/articleshow/69457119.cms">Gautam Gambhir wins his debut election from East Delhi</a> <a href="https://www.businessinsider.in/politics/elections/news/delhi-election-2020-gopal-rai-a-minister-with-multiple-portfolios-who-like-to-flash-aaps-report-card-as-he-seeks-votes/articleshow/73242360.cms">Delhi election 2020: Gopal Rai, a minister with multiple portfolios who likes to flash AAP’s ‘report card’ as he seeks votes</a>

Delhi Election 2020: BJP’s Vijay Goel, who ‘deliberately’ broke traffic rules in Delhi, hopes to re-create Lok Sabha success

A recent study has revealed has a word of caution people working irregular hours with night and rotating shifts are at greater risk of developing type 2 <keyword id="6359018" type="UNKNOWN" weightage="20" keywordseo="diabetes">diabetes</keyword>. 

	Researchers at NGO United World Against Diabetes observed the sleeping pattern and blood sugar levels of professionals working in shifts at IT and BPO companies in Pune for about two years.
 "We found that any amount of shift work is linked to around 10% greater risk for developing type 2 diabetes.Those working in rotating shifts on regular basis were at 40% greater risk of developing type 2 diabetes," researcher <keyword id="3449295" type="UNKNOWN" weightage="20" keywordseo="lalit-kumar-upadhyay">Lalit Kumar Upadhyay</keyword> said. 

	A total of 1,266 employees, mainly working in shifts at IT firms and call centers in and around the city , were observed as a part of the study. The employees were in the age bracket of 20 years to 42 years. Between 2014 and 2016, the researchers kept a tab on the blood pressure, weight and random blood sugar levels of the employees. "Employees whose blood investigations showed elevated sugar levels were followed up consistently to arrive at their risk for developing diabetes. Other than diabetes, the employees working mainly in night shifts were also suffering from obesity, some even had high blood pressure and were suffering from insomnia," Upadhyay said.
 

	
		International research has also proved that type 2 diabetes is more prevalent among those who work in shifts. Workers that have rotating night-time and daytime shifts have an increased risk of 42 percent. Men alone have a risk increase of 35 percent. 
	 
	
		Working in shifts can disrupt a person’s biological clock, which can lead to a number of health problems. The best way to reduce your risk of type 2 is to maintain a healthy weight through regular physical activity and by eating a healthy balanced diet.

Working in shifts? You are at a higher risk of developing diabetes, here's why

Recently, <keyword id="23555" type="COMPANY" weightage="40" keywordseo="Globallogic">GlobalLogic</keyword>, an IT outsourcing firm that was started by 4 IIT graduates, was acquired by <keyword id="6406022" type="COMPANY" weightage="80" keywordseo="Apax">Apax</keyword> for a sum of $ 420 million. We had an exclusive chat with Tarun Updhyay, Co-Founder of Globallogic about the new deal and what is in store. Here is what he had to say: 
 
Why did you take the decision to go for a buyout deal instead of raising additional funding? 
It has been done from the perspective of long-term shareholder interest. It made more sense to go for a buyout. 
 
Is there any specific reason to bring in Apax as partners? Will GlobalLogic operate as a separate entity post acquisition or will it be a part of iGate? Along with the stellar reputation of Apax, they had two specific things going for them. One, they are not focused on a particular country but are a global fund. Two, they prefer long-term <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">investments</keyword> with a growth focus. That made the Apax deal a great win-win for all parties involved. 
 
I expect GlobalLogic will continue to operate as a separate entity for the foreseeable future. 
 
Is it going to be one of the biggest exits for VC investors in <keyword id="3658" type="COUNTRY" weightage="40" keywordseo="India">India</keyword>? What’s you take on this? 
Indian entrepreneurs have finally started to get their share of large, successful exits. This trend is only going to grow. There are many small and large Indian-owned companies that are focused on global markets. So we should see many more large exits from India-based and Indian-owned companies. 
 
Three of GlobalLogic founders including me are now focusing on our new start-up hCentive, which is already valued upwards of $125 million. 
 
Why did you discard the IPO plan in the first place? 
The IPO market has its own complexities, especially for such a diverse and global operation as GlobalLogic. It made more sense to find one buyer at this stage, rather than go for the public markets. 
 
How will the acquisition benefit GlobalLogic? 
GlobalLogic will benefit from the global presence of Apax and their vast portfolio across various industries. We anticipate that the company will continue to grow. 
 
How do you view the global market for software development outsourcing? Does India still hold a key position in this space? 
Software development outsourcing industry in India will continue to grow, although the margins will come under more pressure. 
 
The large pool of trained and globally exposed IT professionals is finally leading to a sea of change in the industry mindset. Many more of the upcoming companies are now building interesting, innovative products that target the worldwide market. That is the real opportunity. 
 
The next worldwide software success may come from India! 
 
We are sure it is a bit early to ask, but has an Indian or global roadmap been decided? Can you shed some light on it? 
It is certainly too early for a new roadmap. It might take some time for things to evolve.

EXCLUSIVE – Tarun Upadhyay, Co-Founder Of GlobalLogic, Talks About Its Acquisition By Apax

Tensions in Middle-East are rapidly inching closer to their zenith, with Iran firing about 200 ballistic missiles at Israel late yesterday night. In response today, the Indian markets witnessed their worst decline in two months, with Sensex dipping around 1,769 points, or 2.1% to close at 82,497.10. <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> followed suit and was also down by 2.1% to close the day at 25,250.10. As a result, about Rs 11 lakh crore were wiped off the market today. The decline was broad-based, with sectors like realty (dipped by over 4%) auto, and energy suffering the most. Broader indices also fell, losing nearly 2% each. The Hang Seng index, which had rallied over 14% during the last week, largely on the back of various stimulus measures announced by the central bank to stir consumption in the Chinese economy, also slumped around 1.47%. With the possibility of an all-out war between Iran and Israel looming on the horizon, threatening to happen sooner than later, markets are expected to remain volatile in near future. Even the India VIX, seen as a gauge of uncertainty and investor fear in the market, jumped over 9% during the day. The war could throw a huge spanner on India's crude oil import plans. As of August 2024, about 44.6% of India's crude oil imports came from <keyword id="19904316" type="General" weightage="20" keywordseo="middle-east" source="keywords">Middle East</keyword>. Israel has already promised significant retaliation, in response to Iran's attack in the days to come. And the strong possibility of a full-blown Israeli attack in Middle East, particularly major oil fields in Iran has sent the crude oil prices surging. Closer home, ONGC (Oil and Natural Gas Corporation) was amongst the biggest gainers on NSE today. <h2>Should Indian investors worry? </h2>But is the impending action in Middle-East the only reason behind today's drastic fall? Vishnu Kant Upadhyay, AVP, Research &amp; Advisory at Master Capital Services notes that while it plays a significant role, other factors are also at play. "Recent regulatory changes in the F&amp;O segment by SEBI is expected to impact trading volumes, as retail participation may decline due to the increased contract size and limits on weekly expiries. Meanwhile, strength in the Chinese market, following the People’s Bank of China (PBoC) stimulus package, has also diverted foreign investment to China, where valuations remain more attractive compared to India", he noted. But Upadhyay believes that the extension of losses in Indian markets wont last long. "From a technical perspective, as long as prices hold above the 25,250–25,100 zone, any decline could present an opportunity to build fresh long positions. A stock-specific approach is advisable, with sectors such as Oil, IT, PSU Banks, Metals, and Chemicals likely to outperform in the coming days", he adds. Shrikant Chouhan, Head Equity Research, Kotak Securities observes that as long as market is trading below 25,365/82,800, the weak sentiment is likely to continue. On the down side, it could slip till 25,150-25,025/82,200-82,000 as well. On the other side, one quick technical pullback is likely if the market succeeds to trade above 25,365/82,800. Above the same, it could bounce back till 25,475-25,500/83,100-83,300. The current market texture is volatile hence; level based trading would be the ideal strategy for the day traders. <h2><keyword id="20760178" type="General" weightage="20" keywordseo="mutual-fund-investors" source="keywords">Mutual fund investors</keyword>, stay put</h2>In the aftermath of a <keyword id="19968045" type="General" weightage="20" keywordseo="market-correction" source="keywords">market correction</keyword>, most mutual fund investors often face a critical decision- should they stop their SIPs (<keyword id="21047553" type="General" weightage="20" keywordseo="Systematic-Investment-Plans" source="keywords">Systematic Investment Plans</keyword>) or to view the downturn as a valuable opportunity to acquire more mutual fund units? By continuing SIPs during such downturns, investors can take advantage of 'rupee-cost averaging,' i.e. accumulating more units when prices are down. This approach not only lowers the average cost per unit, but also positions the portfolio for greater returns when the market eventually recovers, and softens the impact of short-term volatility. Swapnil Aggarwal, Director, VSRK Capital explains that alongside maintaining regular investments, revisiting your asset allocation is also essential in these turbulent times. A well-diversified portfolio, that balances equities with safer assets like bonds can withstand market fluctuations more effectively. You can consider shifting some investments into bond funds or other stable instruments, which can provide a cushion against further declines. <h2>What happens next? </h2>While the immediate impact of a market correction may lead to declines in the NAV (Net Asset Value) of mutual funds, disciplined investors can view this as a moment to reassess their strategies. Focusing on your <keyword id="20908416" type="General" weightage="20" keywordseo="long-term-financial-goals" source="keywords">long-term financial goals</keyword> will let you turn market volatility into opportunity! The market will remain keenly focused on the evolving situation in the Middle East. What will also be equally important are the US monthly jobs data due tomorrow, which could determine the size of Fed's next interest rate move in November.

Nifty, Sensex in freefall today as Iran mounts attack on Israel. Here's what experts think you should do

Assured of a <keyword id="22615464" type="General" weightage="20" keywordseo="quarterfinal-berth" source="keywords">quarterfinal berth</keyword>, India will aim for consistency when they take on reigning champions <keyword id="19949441" type="General" weightage="20" keywordseo="Belgium" source="keywords" meta.keywordsubtype="org" meta.entityname="Belgium" meta.hostid="261" meta.entityid="Belgium">Belgium</keyword> in their tough penultimate Pool B match of the <keyword id="20028513" type="General" weightage="20" keywordseo="Olympic-Games" source="keywords">Olympic Games</keyword> on Thursday. The Red Lions are leading Pool B with three wins from as many matches, while the Indians are a rung below in the second place with two wins and a draw. Mighty Australia are placed third with seven points from two wins and a loss. <keyword id="19907360" type="General" weightage="20" keywordseo="Argentina" source="keywords" meta.keywordsubtype="org" meta.entityname="Argentina" meta.hostid="261" meta.entityid="Argentina">Argentina</keyword> have also qualified for the quarterfinals with four points from three games, which includes a win, a draw and a loss. <keyword id="19916454" type="General" weightage="20" keywordseo="New-Zealand" source="keywords" meta.keywordsubtype="org" meta.entityname="New Zealand" meta.hostid="261" meta.entityid="New Zealand">New Zealand</keyword> and <keyword id="20054308" type="General" weightage="20" keywordseo="Ireland" source="keywords" meta.keywordsubtype="org" meta.entityname="Ireland" meta.hostid="261" meta.entityid="Ireland">Ireland</keyword> are out of the race after suffering three consecutive losses. Only the top four can make the last-eight stage cut. The Indians started their campaign on a shaky note with a close 3-2 win over New Zealand and then scored a last-minute goal to salvage a draw against former champions Argentina. But against Ireland, it was a completely different performance from the Indians, at least in the first two quarters. They dominated the possession with one-touch play to score two goals in the first quarter which proved vital in the end. India skipper Harmanpreet Singh once again rose to the occasion, first converting a penalty stroke and then finding the net from a set piece in the second quarter to hand his side the win. The Indian mid-field, led by veteran and four-time Olympian Manpreet Singh and vice-captain Hardik Singh, also brought their A game to the table, creating several chances for the forward-line. The likes of Mandeep Singh, Lalit Upadhyay, Gurjant Singh and Sukhjeet Singh sparkled upfront by keeping the pressure on the opposition defence. Against Ireland on Tuesday, India opted for one-to-one short passes to build their attacks, instead of going for aerial balls. Right-back <keyword id="20708828" type="General" weightage="20" keywordseo="jarmanpreet-singh" source="keywords">Jarmanpreet Singh</keyword> has been a revelation in the tournament so far and was omnipresent, be it in defence or creating chances from flanks. Another player who deserves credit is Amit Rohidas, who produced a rock solid performance at the back. He defended the penalty corners brilliantly being the first rusher and from one-on-one situations. But it is India's wall, goalkeeper PR Sreejesh, who is living up to his reputation in his Olympic swansong. He made multiple good saves against Ireland in the last two quarters to hand his side the win. After Belgium, India will end their pool engagements against nemesis Australia on Friday.

Quarters berth sealed, Indian men's hockey team set for first real test in Olympics against Belgium

Paris: The Indian Men's <keyword id="20016187" type="General" weightage="20" keywordseo="Hockey" source="keywords">Hockey</keyword> Team went down fighting against <keyword id="19906844" type="General" weightage="20" keywordseo="Germany" source="keywords" meta.keywordsubtype="org" meta.entityname="Germany" meta.hostid="261" meta.entityid="Germany">Germany</keyword> as they suffered a 2-3 loss in the 2nd semi-final of the ongoing <keyword id="20006192" type="General" weightage="100" keywordseo="Paris-Olympics" source="keywords">Paris Olympics</keyword> on Tuesday. <keyword id="20349470" type="General" weightage="20" keywordseo="Harmanpreet-Singh" source="keywords">Harmanpreet Singh</keyword> (7') and Sukhjeet Singh (36') netted a goal each for <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, while Gonzalo Peillat (18'), Christopher Ruehr (27'), and Marco Miltkau (54') found the back of the net for the Germans. India were quick to get off the blocks in attacking mode and put Germany on the back foot by winning two consecutive penalty corners early in the first quarter. However, Germany's solid defence blocked India captain and drag-flicker Harmanpreet Singh's shots. India maintained pressure deep inside Germany's circle, with Vice Captain Hardik Singh showcasing his exceptional dribbling skills. India's relentless attacking approach earned them a series of penalty corners, with Harmanpreet Singh converting the fourth one in the 7th minute to give India a well-deserved lead. This goal marked his eighth in the tournament. Meanwhile, Germany switched to a possession-based game to relieve the pressure, but they couldn't mount any significant threats, ending the first quarter with India leading 1-0. Germany began the second quarter strongly, matching India in the early exchanges. Within the first three minutes, they earned a penalty corner, which Gonzalo Peillat converted in the 18th minute to level the score. Despite this, India continued to apply relentless pressure. In the 20th minute, Abhishek had a powerful shot on goal from inside the D, but Germany's defender Mathias Mueller deflected it wide. A few minutes later, Lalit Kumar Upadhyay had a chance to score, but his shot went over the goalpost. Germany then won a penalty corner against the run of play, and Peillat's shot struck Jarmanpreet Singh's foot, resulting in a penalty stroke. Christopher Ruehr quickly converted the stroke in the 27th minute, flicking it to the right of India's goalkeeper PR Sreejesh. At halftime, the score was 2-1 in favour of Germany. Determined to bounce back, India started the third quarter aggressively, winning consecutive penalty corners. However, Harmanpreet Singh's shot was saved by Jean-Paul Danneberg. Undeterred, India continued to press for an equalizer, which they found in the 36th minute when a penalty corner flick by Harmanpreet was deflected in by Sukhjeet Singh. With the score tied, both teams intensified their attacks, frequently testing each other's defences. Despite the increased efforts, neither team could break the deadlock, and the third quarter ended with the score level at 2-2. The fourth quarter began with Germany making swift passes and penetrating India's defence to win a penalty corner, but Sanjay made a stunning goal-line save to prevent Germany from taking the lead. However, Germany continued their relentless attacks and finally broke through in the 54th minute when Marco Miltkau scored after receiving an assist from Teo Hinrichs on the left flank. This goal eventually proved decisive, as Germany won the match 3-2 to make it to the Final. In the bronze medal match, India will lock horns against Spain on Thursday.

Paris Olympics: India go down fighting against Germany, to play Spain for bronze medal in Hockey

After two months of net outflow, foreign investors turned buyers in <keyword id="19962054" type="General" weightage="20" keywordseo="June" source="keywords">June</keyword>, infusing Rs 26,565 crore in <keyword id="19927125" type="General" weightage="20" keywordseo="Indian" source="keywords">Indian</keyword> <keyword id="19925781" type="General" weightage="20" keywordseo="equities" source="keywords">equities</keyword>, driven by political stability and a sharp rebound in markets. Looking ahead, attention will gradually shift towards the budget and Q1 FY25 earnings, which could determine the sustainability of FPI flows, Vipul Bhowar, Director, Listed Investments, Waterfield Advisors, said. According to the data with the depositories, <keyword id="20015748" type="General" weightage="20" keywordseo="foreign-portfolio-investors" source="keywords">foreign portfolio investors</keyword> (<keyword id="19930635" type="General" weightage="20" keywordseo="FPIs" source="keywords">FPIs</keyword>) have made a net infusion of Rs 26,565 crore in equities this month. This came following a net outflow of Rs 25,586 crore in May on poll jitters and over Rs 8,700 crore in April on concerns over a tweak in India's tax treaty with Mauritius and a sustained rise in US bond yields. Before that, FPIs made a net investment of Rs 35,098 crore in March and Rs 1,539 crore in February, while they took out Rs 25,743 crore in January. The net outflow now stood at Rs 3,200 crore in the month, data with the depositories showed. Geojit Financial Services Chief Investment Strategist V K Vijayakumar said political stability, despite the BJP not getting a majority on its own, and the sharp rebound in markets aided by steady domestic institutional investors (DIIs) buying and aggressive retail buying, has forced the FPIs to turn buyers in India. However, the FPI buying has been focused on a few specific stocks rather than being widespread across the market or sectors. This is because Indian equities are still considered overvalued by FPIs, Waterfield Advisors' Bhowar said. They are favouring the financial, auto, capital goods, real estate, and select consumer sectors. "With government stability assured, impressive GDP performance and forecasts, stable consumer price index, ample forex reserves, and robust banking sector health, I anticipate a steady and substantial FPI inflow," Kislay Upadhyay, smallcase Manager &amp; Founder Fidelfolio, said. Additionally, FPIs invested Rs 14,955 crore in the debt market in June. With this, FPIs' investment in the debt market reached Rs 68,624 crore in 2024 so far. India's inclusion in the JP Morgan Bond Index is positive. In the long term, this will reduce the cost of borrowing for the government and the cost of capital for corporates. This is positive for the economy and therefore, for the equity and debt market. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank">Upcoming cars launching in India in July 2024</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

FPIs invest ₹26,565 crore in Indian equities in June

With <keyword id="19899478" type="General" weightage="20" keywordseo="US" source="keywords">US</keyword> unemployment rates jumping from 4.1% to 4.3% in July 2024, the highest ever since October 2021, global markets fear an impending <keyword id="19950649" type="General" weightage="100" keywordseo="recession" source="keywords">recession</keyword> and a slowdown hitting the world's largest economy. Amidst a weakening labor market, even as <keyword id="19950650" type="General" weightage="20" keywordseo="interest-rates" source="keywords">interest rates</keyword> remain consistent at a 23-year peak range of 5.25-5.5%, the number of unemployed people in the US inched up to 7.9 million in July. Between January and June this year, the US economy added an average of 2,22,000 new jobs every month, which were significantly lower than the monthly average of 2,51,000 in 2023, and 3,77,000 in 2022. However, in July, the economy only managed to generate 1,14,000 new jobs. Even Goldman Sachs economists have upped the probability of recession hitting the US by 2025 to 25%, from its previous estimate of 15%. And while they maintain that there still remain "several reasons to not fear a slump", it is hard to overlook the fact that July's employment figures have already breached the Sahm rule, which is considered a tipping point for foreseeing economic slowdowns. But is that indication enough, or are we reading too much into short-term market developments? Lets find out. First, what is this Sahm rule? Named after formed Fed economist Claudia Sahm, the rule says that a recession is almost certain, and more likely already underway, if the <keyword id="20054242" type="General" weightage="20" keywordseo="unemployment-rate" source="keywords">unemployment rate</keyword> (based on a three-month moving average) inches up by 0.5% from its lowest point in the past year. It has been failsafe so far, proving right for every US recession since 1970. But even as Sahm herself, and other economists believes that a recession is not imminent this time around, despite weak employment figures, the ongoing shockwaves in the global markets are hard to ignore. Japan's Nikkei 225 plunged 4,451 points today, and closed the day around 12.4% lower, registering one of the worst losses it has seen since 1987. Closer home, Sensex fell sharply from the 80,000 mark it had previously breached by about 2,500 points to trade at around 78,400.21. Nifty also dipped around 2.5%, and was trading at about 24,098 points. Vishnu Kant Upadhyay, AVP, Research and Advisory at Master Capital Services Ltd notes, the significant domestic equities sell-off has been primarily driven by weak global sentiments following disappointing U.S. economic data, particularly non-farm payrolls, manufacturing PMI, and jobless claims, which have raised concerns about a potential economic slowdown in the world’s largest economy. Additionally, the yen carry trade has further dampened global sentiment. "However, given the prevailing bullish trend, it is unlikely that prices will remain low for an extended period. A recovery from these lower levels is a probable scenario", he continued. Even Anup Kurup, CIO at InCred Global Asset Management sees this as short-term, largely because of the "positioning in the derivative markets with many players selling volatility across many asset classes. A big move up in VIX on Friday after the disappointment in the jobs report would have likely triggered margin calls on the short volume strategies, which were mushrooming off late", he explained. So, what exactly is a recession? This is when a country experiences a temporary decline in its overall economic activity, which has a cascading effect on lowering its GDP, income, sales and employment numbers. Generally, if the a country's GDP continues to fall for two successive quarters, it is said to have entered recession. When there is a recession, individuals and businesses tend to spend less, which further hinders wealth creation, industrial activity and trade, perpetuating the cycle. However, in the first three months of 2024, US household wealth skyrocketed to a record $160 trillion, while household net worth touched $5.1 trillion, largely driven by the significant exposure of Americans to the stock markets, and the subsequent gains. Notably, last recession (2008-09) was marked by ballooning household debt, which grew just 2.19% in the last quarter. So, while a recession might not be immediately on the cards, the upcoming months of September and December, where the Fed is likely to announce significant rate cuts, will be tracked intently. A rate cut would increase money circulation in the economy, thereby boosting spending and countering recession. Transfer Pricing and International Economics subject matter expert Akash Kalra notes that this crash indicates a shift from rapid growth to a slower growth trajectory, rather than an immediate recession. Despite recent weak economic indicators such as higher unemployment claims and soft data in construction, durable goods orders, home sales, and manufacturing, the overall assessment is that the U.S. economy is transitioning to a slower growth rate, which is more vulnerable but not necessarily indicative of a recession. "It is important to note that consumer spending has been growing at a moderate rate. In addition, capital spending remains strong due to robust corporate balance sheets and interest in AI technology. The housing market is subdued but stable, and government spending continues to rise. Trade positions are unfavorable but not deteriorating. The <keyword id="19904332" type="General" weightage="20" keywordseo="Federal-Reserve" source="keywords" meta.keywordsubtype="org" meta.entityname="Federal Reserve" meta.hostid="261" meta.entityid="Federal Reserve">Federal Reserve</keyword> has signaled a potential rate cut in September due to softer economic data and diminishing <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword>. Accordingly, the U.S. GDP growth is expected to slow down for the rest of 2024 before picking up again in 2025", he continues.

With stock markets crashing worldwide, are fears of a recession loading in the US pre-mature?

<ul><li>Road <keyword id="34617" type="General" weightage="20" keywordseo="construction" source="Orion">construction</keyword> accounts for 40% of the demand for <keyword id="113636" type="General" weightage="20" keywordseo="construction-equipment" source="Orion">construction equipment</keyword>.</li><li>Some pre-buying of equipment is also likely towards the last quarter of this fiscal, says a <keyword id="183985" type="General" weightage="40" keywordseo="crisil-ratings" source="Orion">Crisil Ratings</keyword> report.Government focus on infrastructure build-out, especially roads, metros, and <keyword id="6360676" type="General" weightage="20" keywordseo="railways" source="Orion">railways</keyword> a key.</li></ul> The revenue for the domestic construction equipment sector is expected to grow by 14-15% in FY24 on the back of the government's focus on infrastructure, as per a Crisil Ratings report. Construction activity across the real estate and mining sectors will also play a supportive role. The revenue for the domestic construction equipment sector is likely to grow this fiscal on a high base of 29% in the previous fiscal. "This will be driven by continued government focus on infrastructure build-out, especially roads, metros, and railways, including projects under the National Infrastructure Pipeline (NIP)," the report reads. The increased pace of road construction, which accounts for 40% of the demand for construction equipment, augurs well for the sector's growth. Manufacturers are also witnessing robust demand from the real estate and mining sectors, as well as from contractors of bridge, airport, and metro corridor, said Poonam Upadhyay, Crisil Ratings Director. "In addition, some amount of pre-buying of equipment is also likely towards the last quarter of this fiscal, with the sector migrating to CEV Stage-V2 emission norms from April 1, 2024, which will increase equipment prices," Upadhyay added. In volume terms, the sector is projected to achieve all-time high sales of 1.2 lakh units this fiscal, compared to 1.1 lakh units in FY23. Earthmoving equipment accounted for 70% of sales volume last fiscal, material handling and concrete equipment 22%, while material processing equipment comprised the rest, the report said. (With text input from PTI)

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