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SGX Nifty Indicates Negative Opening; Rites Announces Share Buyback of Rs 257 Crore

Global stock markets: Dow 30, -0.9%; S&P, -1.1%; Nasdaq, -1.1%; Nikkei, +0.2%; Hang Seng, -0.5%; KOSPI, +0.02%

During the last week, Nifty moved in a relatively narrow range compared with the previous weeks. Through the week, it traded near its 21-DMA. On Friday, Nifty opened on a positive note and traded in positive territory for most of the session. After 2pm, sharp selling in financial stocks dragged the market to negative territory. It lost around 140 points in a span of 30 minutes. Later, some recovery was seen as Nifty pared most of its losses.

In the last week, the reaction on sectoral indices were mixed. Nifty Pharma (+8.9%) was the biggest advancer, followed by Nifty IT (+6.4%), and Realty (+5.5%). On the flipside, Nifty Financial (-4.5%) and PSU Bank (-3.9%) were the major decliners.

As the market condition is in an Uptrend Under Pressure, investors should proceed with caution. Unless a stock shows exceptional fundamental and technical strength, no new addition to the portfolio is advised. Investors should consider booking profits in stocks that have performed well and advanced 20–25% from their ideal buy points. Looking forward, we will change the status to a Downtrend, if more distribution days are added or if Nifty breaches its 50- and 200-DMA. On the flip side, the status will be back to a Confirmed Uptrend if Nifty retakes the 11,795 level (high during the recent rally).

Key News

Rites announced the buyback of shares up to Rs 257 crore at a share price of Rs 265, which is around 4% premium to the current market price. It has fixed September 30 as the record date.

Total liabilities of the Indian government increased to Rs 101.3T at the end of Q1 FY21, from Rs 94.6T at the end of March quarter.

O’Neil Market Condition Report

For the 24 emerging markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 34%; Rally Attempt, 8%; Uptrend Under Pressure, 54%; Downtrend, 4%.

For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 34%; Rally Attempt, 8%; Uptrend Under Pressure, 58%; Downtrend, 0%.

Visit Marketsmith India to Read More About Indian Share Market News, Daily Market Tips, Model Portfolio etc.

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Chiropractors Gold Coast

If you are planning to select a Gold Coast Chiropractors, then this article will be beneficial. Before choosing a chiropractor, it is advisable to look into several factors such as fees or the payment plans, overall style, manipulation technique and the education of the chiropractor.

You should check about the fees, and the whole procedure includes which costs. Whether these chiropractor services are covered in the insurance policy or not. If in any case, the insurance company denies such services, what all are the payment modes available at the clinic for their services? It is essential to know because some clinics might offer their services using cash discounts.

Further, it would be best if you also asked about the initial consultation charges included in the procedure. Some companies might offer the same free of cost, and some may not, so these things should be cleared before choosing the chiropractors. Usually, the chiropractic keeps these fees range competitive, i.e. within the usual and customary based on the competitors in your preferred local area.

It would be helpful to even enquire about the kind of discount which is offered by the chiropractor. The clinic may offer special discounts to people for volume checkups or for their whole family checkups. Answers to all these queries will make the whole picture of the expenditure which you will be having after selecting the chiropractor.

Just one thing to keep in mind is to know whether the chiropractor uses X-ray or not. The reason behind this is that the use of x-ray by the chiropractic is debatable both for and against. It is so because many patients do not need X rays, but the chiropractor uses them jut to be sure of any possible tumour or fracture which thereby helps them in understanding as to where to adjust the spine. However, it is to be noted that in most cases, such as non-traumatic musculoskeletal pain, x-rays are not needed. The conclusion here is that unless the thorough examination of the body shows that the patient needs an x-ray, it should not be done because this may lead the patient exposed to unnecessary radiations. So, in cases where there is no improvement in health after several weeks of treatment, then x-ray is warranted.

As a general rule, X-rays are recommended in the following cases:

When patients suffer significant traumatic injuries such as in cases of a broken bone or joint dislocation. Also, in case the patient is suffering from any substantial pain from any infection or significant diseases such as cancer, possible tumour or arthritis, X-rays need to be done.
X-rays are also recommended when the patient is above the age of 50 and suffers a trauma. For patients above the age of 65 who are diagnosed with or may be at risk of osteoporosis, X-ray is needed. The need for x-ray may be realized from the fact that it helps in identifying any possible fracture or spinal instability.
X-rays are also needed if the patient is suffering from prolonged pain, or the previous treatment has not responded or resolved the issue.
As a general Chiropractic care rule, X-rays help in indicating the type of treatment which is recommended for the patient. So, enquiring about all these crucial points will help you select the best-fit chiropractor.

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Do Your Employees Need an Automated Leave Application System

The human resources department of any organization has several responsibilities, which includes everything from recruiting the right talent for the organization to ensuring employee skill development, managing the payroll and boosting employee morale. Traditionally, the task of the HR department was carried out using a paper-based system but this takes up much time and effort. To reduce the time and efforts of the HR team, organizations across the globe are investing in a Human Resource Management System (HRMS) like Digital HRMS, Beehive HR, and Bamboo HR, which automates the different HR processes.

An automated leave application system, also referred to as an automated leave management system, is one of the modules of an HRMS software. This makes one wonder what is its exact purpose. Well, as the name suggests, it is a software or a module of a HRMS software that allows employees to perform several tasks related to leave requests, just by logging in to the portal.

So, what exactly are the functions that an automated leave application system offers and how do these functions help the employees of an organization?

To begin with, it allows employees to apply for leaves with the utmost convenience, without the need to walk up to the HR and fill a form or email an application request. Yes, things can become that simple with an automated leave application system. All the employee needs to do is log in to the portal or software, click on a set of tabs, fill in the details, like From and To date, number of days, reason, contact details, place of visit, etc. and then submit the form. This automatically creates a Request on the system and the request is then sent for approval to the respective manager.

Once the request is created, the system also allows employees to monitor the status of the leave application and find out whether it has been approved. The system also allows the managers to view the Requests applied by the members of their team that are awaiting approval when they login to the software or platform.

It also allows the employees to view a history, which means the number of leaves that they have applied for over a period of time, say a month or a year. This gives an idea about how they should plan in the future. Employees can also view the Leave Calendar for that year at a single glance.

Another feature is that it allows the employees to generate reports about their leaves and even allows the HR department to view the leave history and reports of every employee in the organization.

The most important benefit of the automated leave application system is that it regulates the process of leave management, which proves to be an advantage for the employees as well and not just for the organization alone. This is because regulation of the process eliminates errors in payroll processing and thus prevents salary issues.

So, the final word is that employees in an organization indeed can benefit from an automated leave application system. What’s more, it also has several benefits in store for the organization and fetches good ROI. Hence, it is a win-win situation for both, and this is the reason organizations today are choosing HR software.

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