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Equities close flat on weak global cues, profit booking (Roundup)
Mumbai, Sep 15 (IANS) Weak global cues on the back of recurring geo-political tensions, coupled with profit booking in banking, capital goods, FMCG and healthcare sectors, subdued investors’ sentiments and led the key Indian equity indices — the BSE Sensex and NSE Nifty50 — to close on a flat note on Friday.
The 30-scrip Sensitive Index (Sensex) of the BSE, which slid into the red during the day’s trade, closed with marginal gains at 32,272.61 points — up 30.68 points, or 0.10 per cent.
However, the BSE market breadth was bearish — with 1,457 declines and 1,112 advances.
On the other hand, the wider 51-scrip Nifty50 of the National Stock Exchange (NSE) inched down 1.20 points, or 0.01 per cent, to close the day at 10,085.40 points.
“Markets ended flat on Friday after a volatile session. The volatility came on the back of return of geopolitical tensions as North Korea launched a missile near east of Japan,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Major Asian markets ended on a positive note, barring the Shanghai and Straits indices. European indices like FTSE 100, DAX and CAC 40 traded lower,” he added.
In terms of broader market indices, the S&P BSE mid-cap index fell by 0.28 per cent, whereas the small-cap index rose by 0.38 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Nifty continued to face resistance above 10,100 level due to weak global cues and continued hostility in Asia. US bond yields rose as CPI August data inched higher to 0.4 per cent leading to risk of Fed interest rate hike in December.”
“Continued FII (foreign institutional investors) selling and tightening monetary policies in US will curtail the easy liquidity, which is making investors cautious,” said Nair.
In investments, provisional data with the exchanges showed that FIIs sold scrip worth Rs 8,043.58 crore during September 1-14.
On a daily basis, the FIIs purchased scrip worth Rs 418.86 crore and the DIIs (domestic institutional investors) worth Rs 125.55 crore during the day’s trade.
The Indian rupee strengthened by 4-5 paise to 64.07-08 against the US dollar from its previous close at 64.12.
“Indian shares fell on Friday tracking lower Asian markets, as geo-political tensions following another missile launch by North Korea dampened sentiment and as profit taking was seen in recent outperformers such as banks and pharma stocks,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
“Sun Pharmaceutical Industries and Dr. Reddy’s Laboratories, which gained in the last three sessions, fell 1.65 per cent and 1.94 per cent, respectively. State-owned Oil and Natural Gas Corporation, however, rose as much as 4.4 per cent, the top percentage gainer on the NSE index, and in line to snap a three-session losing run,” Desai told IANS.
Sector-wise, the S&P BSE banking index fell by 98.30 points, capital goods index by 66.19 points, and the healthcare and FMCG indices by 26.42 points each.
On the other hand, the S&P BSE IT index was up 103.78 points, Teck (technology, media and entertainment) index by 43.63 points and the oil and gas index by 43.13 points.
Major Sensex gainers on Friday were: ONGC, up 4.71 per cent at Rs 166.90; Bajaj Auto, up 3.19 per cent at Rs 3,022.05; Coal India, up 1.94 per cent at Rs 259.90; Infosys, up 1.83 per cent at Rs 908.60; and Wipro, up 0.65 per cent at Rs 285.75.
Major Sensex losers were: Dr. Reddy’s Lab, down 1.77 per cent at Rs 2,210.25; ITC, down 0.92 per cent at Rs 269.35; NTPC, down 0.77 per cent at Rs 167.30; State Bank of India, down 0.68 per cent at Rs 272.05; and Tata Motors, down 0.66 per cent at Rs 401.25.
–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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