The Nifty 50 index fell 1.05% to 17,411.30, while the S&P BSE Sensex lost 1.10% to 59,148.50, as of 10:19 a.m. IST.
The number of active jobs has decreased by 41 percent year on year. According to Xpheno data, the sector's contribution was less than 30 percent for 21 months.
The move may also help improve delivery of services related to pensions, employee provident fund and insurance for workers before next year’s general election
Arvind Sanger, Managing Partner, Geosphere Capital Management says the magnitude of victory for the BJP suggests receding fear of the emergence of a third front.
Nonfarm payrolls increased 148,000 last month, the Labor Department said on Tuesday. While the job count for August was revised to show more positions created than previously reported, employment gains in July were the weakest since June 2012.
The rupee opens lower, tracking global dollar gains against majors. Pair at 54.36/37 versus 54.42 open, 54.285/295 Friday close.
US stocks fell about 1% on Friday as another month of tepid jobs growth underlined fears the economy was stalling, though not to the point where more economic stimulus from the Federal Reserve was imminent.
Despite a lower GDP number the US markets have rallied at about 1-2% and strong earnings along with consumer sentiments have resulted in gains in the US Market. The European markets too were faring well yesterday. Bobby Rakhit, CEO, Inside Consulting talks about the global markets in an interview with CNBC-TV18.