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Equities close flat; auto, metal stocks up (Roundup)
Mumbai, Sep 7 (IANS) Key Indian equity indices — the NSE Nifty50 and the BSE Sensex — closed on a flat note on Thursday. Healthy buying was witnessed in automobile, metal and capital goods stocks.
According to market observers, sentiments continued to remain subdued on the back of prevailing geo-political tensions as well as continous outflow of foreign funds.
On a closing basis, the wider 51-scrip Nifty50 of the National Stock Exchange (NSE) was up 13.70 points, or 0.14 per cent, at 9,929.90 points.
The 30-scrip Sensitive Index (Sensex) of the BSE witnessed almost no change from its previous close at 31,661.97 points.
On Thursday, the Sensex closed at 31,662.74 points — fractionally up 0.77 points.
The BSE market breadth was slightly bullish with 1,406 advances and 1,177 declines.
“Markets ended with marginal gains on Thursday as the Nifty continued to consolidate in a range. Metal and mining stocks were in demand while shares of index heavyweight and cigarette major ITC dropped,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Major Asian markets ended on a mixed note, while European indices like FTSE 100, DAX and CAC 40 traded higher,” he added.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Blue-chips have been consolidating in the last one month in line with the havoc in global market and outflows in FII (foreign institutional investors) money. But undercurrent is strong as shown by the positive return and outperformance of the mid and small cap stocks.”
In terms of broader market indices, the S&P BSE mid-cap index was up 0.76 per cent and the small-cap index up 0.51 per cent.
On the currency front, the Indian rupee strengthened by five paise to 64.05 against the US dollar from its previous close at 64.10.
“The outlook for Indian markets still remained subdued given continued concerns over the escalating tensions around North Korea’s nuclear test, but analysts said markets were still being supported by domestic retail investments, preventing any steep losses,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
In investments, provisional data with the exchanges showed that FIIs sold scrip worth Rs 2,606.09 crore during the week (Sep 4-6), while domestic institutional investors (DIIs) purchased stocks worth Rs 427.73 crore during the same period.
“Trading volume was 7.4 times its 20-day average. Top gainers on the NSE were Indiabulls Housing Finance, Vedanta and Eicher Motors, while top losers were ITC, BPCL and Tata Motors (DVR),” Desai added.
Sector-wise, the S&P BSE automobile index rose by 204.32 points, metal index by 193.79 points and capital goods index by 98.70 points.
On the other hand, the S&P BSE oil and gas index fell by 58.89 points, FMCG index by 23.01 points and energy index by 11.09 points.
Major Sensex gainers on Thursday were: Mahindra and Mahindra, up 1.69 per cent at Rs 1,338.75; Bajaj Auto, up 1.37 per cent at Rs 2,965.95; Dr Reddy’s Lab, up 1.24 per cent at Rs 2,223.95; Sun Pharma, up 1.06 per cent at Rs 480.05; and Power Grid, up 0.86 per cent at Rs 215.80.
Major Sensex losers were: ITC, down 1.89 per cent at Rs 270.35; Tata Motors (DVR), down 1.42 per cent at Rs 211.50; Bharti Airtel, down 1.36 per cent at Rs 397.45; Tata Motors, down 1.17 per cent at Rs 378.90; and Coal India, down 0.96 per cent at Rs 253.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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