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Key Indian equity indices open in green

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The key Indian equity market indices on Thursday opened higher despite muted trend of global markets amid trade war leaving financial markets in a state of uncertainty.

The Sensitive Index (Sensex) of the BSE, which had closed at 35,645.40 points on Wednesday, opened higher at 35,703.17 points.
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Minutes into trading, it was quoting at 35,647.34 points, up by 1.94 points, or 0.01 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,769.90 points on Wednesday, was quoting at 10,767.10 points, down by 2.80 points or 0.03 per cent.

Expectation of a healthy rural demand on the back of the government’s enhanced farm sector support had buoyed the key Indian equity indices on Wednesday.
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Additionally, positive economic data on services sector and healthy buying in automobile and banking sector stocks pushed the indices higher, despite broadly negative global cues.

The Sensex was up by 266.80 points or 0.75 per cent at the Wednesday’s closing. In the day’s trade, the barometer 30-scrip sensitive index had touched a high of 35,667.31 points and a low of 35,309.67 points. The Nifty, too, was up by 70 points or 0.65 per cent.
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On Thursday, Asian indices were showing a negative trend. Japan’s Nikkei 225 was quoting in red, down by 0.71 per cent while Hang Seng was down by 0.66 per cent, South Korea’s Kospi was also down by 0.52 per cent. China’s Shanghai Composite index was trading in red, down by 0.63 per cent.

Overnight, FTSE 100 closed in red down by 0.27 per cent on Wednesday.

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Good news waiting for central government employees in month of March!

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New Delhi: The National Democratic Alliance (NDA) led by Prime Minister Narendra Modi at the Centre might announce good news related to minimum pay of central government employees in the month of March.

The central government is likely to implement the recommendations of the Seventh Pay Commission in March month. In a recent meeting of the National Joint Council of Action (NCJA) in New Delhi some proposals related to enhancing the minimum grade pay of central employees were discussed during meeting.

Though many associations of the central government are not aware of any such a proposal but at present, central employees get a minimum wage of Rs 18,000.

They are demanding a hike of up to Rs 8,000 in the minimum pay and increase in the fitment factor from 2.57 times to 3.68 times.

 

Let month of March come and good news wait for central government employees!:

 

As we all know that Lok Sabha elections just a few months away, the Modi government is leaving no stone unturned to woo its employees. If the minimum wage of the central employees does not see an increase, then their Dearness Allowance (DA) will definitely be increased.

According to some news reports said the Modi government is keen to increase the minimum pay of central government employees, but it will increase the burden on the public exchequer.

However, it is expected that the much-awaited decision by the central government is likely to be announced in the month of March. The Modi government has also stepped in to provide travel-related benefits to its employees in election season.

Now the Central employees will be able to travel through private airlines to visit the home and other parts of the country (Jammu and Kashmir and Andaman and Nicobar) under the LTC benefit.

 

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