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Equities close marginally higher; Dr. Reddy’s, ICICI Bank top BSE lags (Roundup)
Mumbai, Nov 20 (IANS) After remaining rangebound for most of the day, key Indian equity indices — the BSE Sensex and NSE Nifty50 — closed on a flat-to-positive note on Monday, with healthy buying witnessed in metals, oil and gas, and auto stocks.
According to market observers, selling pressure in IT, banking and Teck stocks, along with subdued global cues and outflow of foreign funds, trimmed gains.
The wider Nifty50 of the National Stock Exchange (NSE) closed higher by 15.15 points or 0.15 per cent to close at 10,298.75 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,359.90 points — up 17.10 points or 0.05 per cent — from Friday’s close.
However, the BSE market breadth was bullish — 1,615 advances and 1,041 declines.
“Markets ended with marginal gains on Monday after a largely range bound session. The Nifty swung between gains and losses in a narrow range throughout the session,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
“The index nevertheless ended with gains for the third straight day, indicating a positive bias,” said Jasani.
In terms of the broader markets, the BSE mid-cap closed higher by 0.63 per cent and the small-cap index by 0.81 per cent.
“Major Asian markets have ended on a mixed note, while European indices like FTSE 100 and DAX traded lower,” Jasani said, adding: “Technically, with the Nifty moving up further after the smart bounce back seen late last week, the underlying bias remains positive.”
On the currency front, the rupee weakened by 10-11 paise to 65.11 against the US dollar from its previous close at 65.01-02.
Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 358.74 crore, while domestic institutional investors purchased scrips worth Rs 613 crore.
Vinod Nair, Head of Research, Geojit Financial Services: “Market was flat today post the strong gap-up in the last trading day fuelled by sovereign rating upgrade.”
“Market may maintain its volatility till it attempt to narrow the gap and given the subdued global market as seen today,” added Nair.
Sectorwise, the S&P BSE metal index surged by 189.68 points, followed by oil and gas index by 99.23 points and auto index by 76.47 points.
On the other hand, the S&P BSE IT index fell by 44.31 points, banking index by 20.90 points and Teck index by 13.91 points.
Major Sensex gainers on Monday were: Coal India, up 1.98 per cent at Rs 278.25; NTPC, up 1.52 per cent at Rs 180.15; ONGC, up 1.41 per cent at Rs 180; Kotak Bank, up 1.30 per cent at Rs 1,037.40; and Reliance Industries, up 1.01 per cent at Rs 918.85.
Major Sensex losers were: Dr. Reddy’s Lab, down 2.05 per cent at Rs 2,277.30; ICICI Bank, down 2.03 per cent at Rs 318.50; State Bank of India, down 1.29 per cent at Rs 333.05; Cipla, down 0.99 per cent at Rs 602.60; and Infosys, down 0.99 per cent at Rs 961.35.
–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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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
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