Equity markets close flat as telecom stocks plunge

Equity markets close flat as telecom stocks plunge 

Mumbai, Sep 1 (IANS) In choppy trade on Thursday, Indian equity markets provisionally closed lower as telecom stocks plunged in the wake of Reliance Industries making its big ticket announcement on Jio.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) provisionally closed lower by 11.55 points, or 0.13 per cent, at 8,774.65 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,459.09 points, provisionally closed at 28,423.48 points (at 3.32 p.m.) — down 28.69 points, or 0.10 per cent, from the previous close at 28,452.17 points.

In the day’s trade, Sensex touched a high of 28,548.85 points and low of 28,386.61 points.

Indian security market to grow 10.6% in 2016: Gartner

Mumbai, Sep 1 (IANS) Enterprise security spending (hardware, software and services) in India is set to reach $1.12 billion in 2016 — up 10.6 per cent from $1.01 billion last year, market research firm Gartner said on Thursday.

Security spending will continue to grow in 2017 when revenue is projected to reach $1.24 billion, the firm announced during its inaugural “Gartner Security and Risk Management Summit” taking place through Friday here.

Security services — that includes consulting, implementation, support and managed security services — revenue accounted for 61 per cent of this total revenue in 2015 and this proportion will increase to 66 per cent by 2020, the company said in a statement.

“The strong growth in the security services market will be primarily because customers need external services to transform their security posture in the digital business era,” said Siddharth Deshpande, Principal Research Analyst at Gartner.

“In 2016, we are seeing large enterprises increase their security budgets to enhance their security programme and several midmarket and enterprise organisations creating new space for security spending as part of their technology budget,” added Deshpande.

Mature organisations that have begun the journey towards detection and response approaches are now looking to focus on advanced capabilities around security operations and incident response.

“Digital business moves at a faster pace than traditional business and traditional security approaches designed for maximum control will no longer work in the new era of digital innovation,” Deshpande noted.

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