Business
Resident doctors to vote on strike action in pay row with Scottish Government
Resident doctors in Scotland are set to be balloted on industrial action after a union accused the Scottish Government of “going back” on a pay agreement.
BMA Scotland said the Government pledged in 2023 to make “credible progress” towards restoring pay to 2008 levels in each of the next three years.
However, it said the Government’s pay offer for resident doctors – formerly known as junior doctors – for next year would see them receive a real-terms pay cut.
The union added that the “unacceptable” offer is below the level recommended by an independent pay review, and the lowest uplift for resident doctors anywhere in the UK.
Dr Chris Smith, chairman of the BMA’s Scottish resident doctor committee (SRDC), said: “In our pay negotiations this year, the Government has shamefully reneged on the deal we agreed in 2023, and we therefore have been left with no choice but to move forward with plans to ballot members for strike action in order to protect that deal.
“This agreement was the only thing that prevented strike action by resident doctors in Scotland in 2023 and we remain the UK’s only resident doctors not to have gone on strike since it was agreed.
“But that will be forced to change if our agreed deal is ignored. By going back on the deal, the Scottish Government have knowingly and severely increased the likelihood of us choosing the path of industrial action and the disruption to the NHS that will cause.
“To be absolutely clear, on our side, we want a negotiated settlement, as we have achieved each of the past two years.”
Dr Smith said there is still time to avert industrial action, but a “real improvement” in the offer is needed.
“The offer this year is likely to be less even than RPI inflation, which means that it would have constituted a real-terms pay cut – we are already 17% worse off than our peers were in 2008 and this would have made that worse,” he said.
“It is completely unacceptable and it is clear that this is a far cry from the credible progress on the path to pay restoration that we were promised.”
Dr Smith warned that without an acceptable offer the NHS risks losing resident doctors to “other professions and countries”, which he said would have “disastrous consequences for a heath service already on its knees”.
He continued: “The decision to ballot for strike action has not been taken lightly, but frankly we have been left with no other choice.
“We are not asking for more – we trusted the Scottish Government in accepting the pay deal and are simply asking that they now deliver that deal.”
Health Secretary Neil Gray said he “did not recognise” claims the Government has backtracked on the 2023 agreement, pointing out that resident doctors received uplifts of 12.4% in 2023/24 and 11% in 2024/25.
“These were the highest pay awards across the public sector that, I believe, were justified to begin the process of delivering on the 2023 agreement in good faith,” he said.
“While I respect the BMA’s right to pursue this course of action, I am nonetheless disappointed that resident doctors have chosen to be in dispute with the Scottish Government.
“I have made a fair, affordable, equitable pay offer of 4.25% for 2025/26, with a further 3.75% for 2026/27.
“That’s the same offer that nurses and other NHS staff chose to accept earlier this year and shows the value we also place on the role that resident doctors play in our hospitals and health clinics.”
Business
Stock market today: Which are the top losers and gainers on March 6- check list – The Times of India
Benchmark equity indices Sensex and Nifty fell sharply on Friday, retreating by more than 1 per cent after a brief recovery in the previous session as escalating tensions in West Asia and surging crude oil prices weighed on investor sentiment.The 30-share BSE Sensex declined 1,097 points, or 1.37 per cent, to close at 78,918.90. During the session, it had plunged 1,203.72 points, or 1.50 per cent, to 78,812.18. The NSE Nifty dropped 315.45 points, or 1.27 per cent, to settle at 24,450.45.
Nifty50 top gainers
- Bharat Electronics (1.84%)
- Reliance Industries (1.11%)
- ONGC (0.95%)
- Sun Pharma (0.84%)
- NTPC (0.68%)
- Hindalco (0.42%)
- HCL Tech (0.20%)
- Infosys (0.20%)
- Bajaj Auto (0.12%)
- Nestle India (0.12%)
Nifty50 top losers
- ICICI Bank (-3.26%)
- Eternal (-3.16%)
- Shriram Finance (-3.08%)
- Axis Bank (-2.47%)
- UltraTech Cement (-2.45%)
- Kwality Wall’s (-2.42%)
- InterGlobe Aviation (-2.41%)
- Adani Enterprises (-2.36%)
- HDFC Bank (-2.36%)
- HDFC Life (-2.31%)
BSE Sensex top gainers
- Bharat Electronics (1.84%)
- Reliance Industries (1.11%)
- Sun Pharma (0.84%)
- NTPC (0.68%)
- HCL Tech (0.20%)
- Infosys (0.20%)
BSE Sensex top losers
- ICICI Bank (-3.26%)
- Eternal (-3.16%)
- Axis Bank (-2.47%)
- UltraTech Cem. (-2.45%)
- Kwality Wall’s (-2.42%)
- InterGlobe (-2.41%)
- HDFC Bank (-2.36%)
- SBI (-2.27%)
- Bajaj Finserv (-2.25%)
- L&T (-2.21%)
The decline came as Brent crude, the global oil benchmark, jumped 2.53 per cent to $87.57 per barrel, raising concerns about inflation and macroeconomic stability.“Indian equity markets extended their decline following the prior session’s relief rally, as escalating US-Iran tensions disrupted key Middle Eastern oil and gas supplies, driving crude prices higher. A sustained rise in oil prices could weigh on investor sentiment and adversely affect India’s twin deficits, inflation trajectory, and the RBI’s monetary stance,” said Vinod Nair, Head of Research, Geojit Investments Ltd, PTI quoted.Elsewhere in Asia, South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ended higher.European markets, however, were trading in the red, while US markets ended lower on Thursday.Foreign Institutional Investors (FIIs) sold equities worth Rs 3,752.52 crore on Thursday, while Domestic Institutional Investors (DIIs) purchased stocks worth Rs 5,153.37 crore, according to exchange data.On Thursday, the Sensex had rebounded 899.71 points, or 1.14 per cent, to settle at 80,015.90, snapping its four-day losing streak. The Nifty had climbed 285.40 points, or 1.17 per cent, to close at 24,765.90, ending its three-day decline.
As the US and Israel continue strikes on Iran, and with retaliatory strikes hitting nearby Middle East states, key shipping routes are being disrupted. Oil and gas production in the region is also being affected.
The BBC’s Nick Marsh examines how the war could cause a rise in living costs around the world.
Business
Stock Market Updates: Sensex Tanks 1,100 Points, Nifty Tests 24,450; India VIX Jumps Over 11%
Last Updated:
The Nifty50 and the Sensex declined at open amid weak global cues.
Sensex Today
Indian benchmark equity indices extended their losses in a volatile trading session on Friday as investors remained cautious amid escalating tensions in West Asia linked to the US-Iran conflict.
As of 3:19 PM, the Nifty50 was trading 1.21 per cent or 300 points down at 24,465, and the Sensex was trading 1,136 points or 1.42 per cent down at 78.879.
Market volatility spiked during the session, with the India VIX rising as much as 11.31% to 19.88.
Among Nifty50 constituents, InterGlobe Aviation, ICICI Bank, and Max Healthcare Institute were the top losers. On the other hand, Bharat Electronics Limited, Reliance Industries, and NTPC Limited were among the top gainers.
Broader markets also traded lower, with the Nifty Midcap 100 and Nifty Smallcap 100 declining 0.47% and 0.06%, respectively.
On the sectoral front, the Nifty IT Index was the only major gainer, rising 0.34% on the back of gains in Persistent Systems and Infosys.
Meanwhile, the Nifty Realty Index emerged as the worst-performing sector, falling nearly 2%, dragged down by losses in Godrej Properties, The Phoenix Mills, and Prestige Estates Projects.
The Nifty Private Bank Index and Nifty Financial Services Index were also among the major laggards during the session.
Global cues
Most markets across the Asia-Pacific region traded in the red as crude oil prices climbed amid rising concerns over supply disruptions linked to the escalating conflict involving the United States, Israel, and Iran.
In Asia, mainland China’s CSI 300 Index slipped around 0.1%, while South Korea’s Kospi Index declined 1.6%.
Overnight on Wall Street, the S&P 500 fell 0.57%, while the Dow Jones Industrial Average dropped 1.61%. The Nasdaq Composite ended 0.26% lower.
Market uncertainty also intensified after Letitia James and attorneys general from 23 US states reportedly filed another lawsuit seeking to block tariff measures announced by Donald Trump.
Oil and gold prices
Oil prices surged as traders remained concerned about potential supply disruptions. According to a Reuters report, Brent crude futures rose nearly 5% to $85.41 per barrel in the previous session.
During the Asian trading session, Brent Crude Oil was trading 0.15% higher at $84.16 per barrel.
Meanwhile, safe-haven demand pushed Gold Futures up 1.34% to $5,146.39, supported by ongoing geopolitical tensions.
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March 06, 2026, 09:20 IST
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