Connect with us

Top News

Nifty50 at record high; global cues, fund inflows boost equities (Roundup)

Published

on

Mumbai, Sep 18 (IANS) After almost a month-and-half, the NSE Nifty50 closed at a new record high on Monday as positive global cues, along with healthy buying in automobile, capital goods and consumer durables stocks, lifted investors’ sentiments.

According to market observers, the rally of the indices, along with persistent pumping in of funds by domestic investors (DIIs), was aided by fresh influx of funds by foreign institutional investors (FIIs).

The wider Nifty50 of the National Stock Exchange (NSE) touched a record high of 10,171.70 points during intra-day trade. It earlier touched an intra-day high of 10,137.85 points on August 2.

In addition, the index closed at a fresh high of 10,153.10 points — up 67.70 points or 0.67 per cent. Previously, it had closed at a high of 10,114.65 points on August 1.

The 30-scrip Sensitive Index (Sensex) of the BSE, too, traded within a range of around 200 points.

On a closing basis, the Sensex rose by 151.15 points, or 0.47 per cent, to 32,423.76 points.

The BSE market breadth was bullish with 1,540 advances and 1,080 declines.

“Nifty rallied further on Monday on the back of positive global cues to close at new highs. Broad market indices like the BSE mid-cap and small-cap indices rose more, thereby outperforming the main indices,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

“Major Asian markets have ended on a positive note. European indices like FTSE 100, DAX and CAC 40 traded higher,” he added.

In terms of broader market indices, the S&P BSE mid-cap index rose by 0.73 per cent and the small-cap index by 0.87 per cent.

Vinod Nair, Head of Research, Geojit Financial Services, said: “Market advanced and touched another historic high on firm global cues. Strength in rupee and a gradual pick up in FII buying has increased the liquidity in the market.”

“On the other hand, focus has now shifted to tomorrow’s (Tuesday’s) Fed policy meet. The consensus is showing status quo in interest rate while investors are keenly looking for any announcement for trimming the balance sheet,” Nair added.

The US Fed’s Federal Open Market Committee will meet on September 20-21.

During the day, the Indian rupee weakened slightly by six paise to 64.13-14 against the US dollar from its previous close at 64.07-08.

“FIIs selling in the cash market was lower at Rs 78 crore and DIIs continued to be net buyers,” said Anita Gandhi, Whole Time Director of Arihant Capital Markets.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the NSE index hit an all-time high, joining a rally in Asian shares, with banks, diversified conglomerates and automobile firms leading the gains.

“Retail investors are pumping in close to Rs 5,000 crore in mutual funds through systematic investment plans or SIPs,” Desai told IANS.

All the sub-indices of the BSE witnessed healthy buying barring the oil and gas index, which fell by 10.23 points (0.07 per cent).

Sector-wise, the S&P BSE automobile index surged by 304.13 points, capital goods index by 267.63 points, and consumer durables index by 259.42 points.

Major Sensex gainers on Monday were: Bajaj Auto, up 3.57 per cent at Rs 3,129.80; Hindustan Unilever, up 2.73 per cent at Rs 1,279.50; Larsen and Toubro, up 2.09 per cent at Rs 1,237.80; Coal India, up 1.89 per cent at Rs 264.80; and Tata Motors (DVR), up 1.83 per cent at Rs 233.15.

Major Sensex losers were: ITC, down 0.95 per cent at Rs 266.80; Tata Steel, down 0.92 per cent at Rs 673.05; ONGC, down 0.90 per cent at Rs 165.40; State Bank of India, down 0.70 per cent at Rs 270.15; and Sun Pharma, down 0.53 per cent at Rs 521.

–IANS
ppg/ag/dg

Continue Reading

Top News

Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

Published

on

By

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.

Continue Reading

Trending