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Equities close in red as investors book profits (Roundup)
Mumbai, Oct 5 (IANS) Breaking a four-day gaining streak, key Indian equity indices — the BSE Sensex and the NSE Nifty50 — closed with marginal losses on Thursday as investors booked profits in banking, and oil and gas stocks.
The wider Nifty50 of the National Stock Exchange (NSE) closed below the psychologically important 9,900-mark. It fell by 26.20 points, or 0.26 per cent, to 9,888.70 points.
The 30-scrip Sensitive Index (Sensex) of the BSE closed at 31,592.03 points — down 79.68 points, or 0.25 per cent, from its previous close.
However, the BSE market breadth was bullish — 1,498 advances and 1,157 declines.
“After showing an upside bounce in the last four sessions, Nifty slipped into minor decline today due to profit taking and closed the day lower by 26 points. Today’s minor decline has not damaged the market breadth, which has closed on positive note on both the exchanges,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Major Asian markets ended on a positive note, barring the Jakarta Composite. European indices traded with mixed trend. While the DAX and CAC 40 traded lower, FTSE 100 traded higher,” he added.
The broader markets, on the other hand, outperformed the benchmark index. The S&P BSE mid-cap index rose by 0.49 per cent, and the small-cap index gained 0.79 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market traded range-bound with a negative bias due to lack of optimism to the upcoming earnings season.”
“However, some positive development in auto sales numbers, core sector growth and festival demand will add some light over the consolidation phase,” Nair added.
On the currency front, the rupee weakened by 13 paise to close at 65.14-15 against the US dollar from its previous close at 65.01-02.
“Shares slipped on Thursday after four straight sessions of gains as investors booked profits in oil refiners amid a lack of fresh triggers after the central bank kept rates unchanged in a move that was widely expected,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
“The RBI held its policy rate steady near seven-year lows on Wednesday after inflation surged, but looked to prop up the cooling economy by spurring banks into lending more,” Desai told IANS.
Sector-wise, the S&P BSE oil and gas index slipped by 84.59 points, followed by banking index by 84.04 points and consumer durables index by 71.50 points.
On the other hand, the S&P BSE healthcare index was up by 47.93 points, metal index by 40.37 points and basic materials index by 29.77 points.
Major Sensex gainers on Thursday were: NTPC, up 1.79 per cent at Rs 170.80; Coal India, up 1.11 per cent at Rs 273; Mahindra and Mahindra, up 0.85 per cent at Rs 1,300; Reliance Industries, up 0.61 per cent at Rs 824.20; and Tata Motors (DVR), up 0.61 per cent at Rs 241.10.
Major Sensex losers were: Power Grid, down 1.99 per cent at Rs 204.85; ICICI Bank, down 1.54 per cent at Rs 271.75; Hero MotoCorp, down 0.97 per cent at Rs 3,757.20; Bajaj Auto, down 0.94 per cent at Rs 3,139.80; and Axis Bank, down 0.82 per cent at Rs 501.15.
–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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