Indian shares flat as Hero MotoCorp, Reliance offset tech losses

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, February 26, 2016. REUTERS/Shailesh Andrade/File Photo

BENGALURU, July 2 (Reuters) – Indian shares were unchanged on Friday, as gains in Hero MotoCorp and Reliance Industries were offset by losses in heavyweight information technology stocks.

By 0400 GMT, the blue-chip NSE Nifty 50 index (.NSEI) was down 0.02% at 15,676.25 and the benchmark S&P BSE Sensex (.BSESN) fell 0.04% to 52,299.41.

While declining COVID-19 cases, easing of curbs and a surge in vaccinations have helped the indexes hit record highs recently, they’ve struggled this week amid a lack of fresh domestic triggers, and are on track to post a weekly loss of more than 1%.

India’s largest motorbike maker Hero MotoCorp (HROM.NS) gained as much as 1.6% after posting higher sales for June.

Conglomerate Reliance Industries (RELI.NS) rose 0.7%, continuing its recovery after a

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Indian shares gain on auto, tech boost; Cipla rises

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, February 1, 2020. REUTERS/Francis Mascarenhas/File Photo

BENGALURU, June 30 (Reuters) – Indian shares rose on Wednesday, helped by automakers and information technology stocks, while drugmaker Cipla climbed after getting a regulatory nod to import partner Moderna’s COVID-19 vaccine.

The blue-chip NSE Nifty 50 index (.NSEI) rose 0.34% to 15,801.80 and the benchmark S&P BSE Sensex (.BSESN) gained 0.36% to 52,741.22 by 0354 GMT.

Markets have struggled for momentum this week after briefly scaling record highs on the back of declining COVID-19 cases, easing of pandemic-induced restrictions and a surge in vaccinations.

On Wednesday, gains in automaker stocks a day before their monthly sales supported the markets, with the Nifty Auto index (.NIFTYAUTO) gaining 0.59%. Maruti Suzuki India (MRTI.NS) rose 1.7% and was the top percentage gainer on the Nifty 50.

The Nifty IT

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Companies Struggle to Keep Their Tech Workers From Logging Off

Many information-technology workers in the U.S. are on the hunt for new jobs, seeking a wider array of remote work options, better chances for promotions and bigger paychecks, as Covid-19 restrictions ease and the economy rebounds.

That has many employers redoubling efforts to recruit and retain skilled IT workers, who were already in short supply before the coronavirus pandemic.

“Companies across all industries are struggling to secure this talent and in many cases new hires are simply replacing recent departures,” said

Craig Stephenson,

managing director of the North America technology officers practice at consulting firm

Korn Ferry.

At the same time, demand for workers with expertise in engineering, cloud computing, data analytics and cybersecurity has never been higher, as companies retool post-pandemic operations with digital technology, Mr. Stephenson said.

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Lawmakers should treat crypto like gold or real estate: Indian tech magnate

Indian technology mogul, Nandan Nilekani, has urged local lawmakers to allow citizens to speculate on crypto assets.

The co-founder and chair of Infosys, an Indian multinational information technology firm, has urged regulators to embrace digital assets and get a handle on accommodating the technology.

Speaking to the Financial Times, Nilekani warned that prohibitive regulations could result in significant missed opportunites for India, asserting that a more permissive approach would let the country to tap into the $1.7 trillion digital asset market and allow “crypto guys to put their wealth into India’s economy.

However, Nilekani is not bullish on an unfettered crypto market for India, asserting cryptocurrencies are too volatile and energy-intensive to use as a means of payment. Instead, he believes the Reserve Bank of India’s Unified Payments Interface infrastructure offers superior infrastructure for real-time payments.

Instead, the tech mogul advised allowing Indian’s to access crypto assets for speculation

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