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Weakness persist in markets in afternoon deals
India, Oct. 10 -- Indian benchmark indices continued to trade in red in afternoon session due to selling in frontline blue chip stocks. The sentiment remained dull as Moody's Investors Service cut India's gross domestic product (GDP) growth forecast for 2019-20 to 5.8% from the earlier estimate of 6.2%. It attributed the deceleration to an investment-led slowdown that has broadened into consumption, driven by financial stress among rural households and weak job creation. Some anxiety was also among the local traders with a private report that a workforce analysis of listed companies reveals that the job loss in public sector was one of the worst in the recent times. In contrast to an increase of 9.2 per cent headcount in private sector, the...
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