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Strong IT stocks, rupee buoy equity indices (Roundup)
Mumbai, Nov 23 (IANS) Key Indian equity indices on Thursday closed in the green for the sixth consecutive session on the back of healthy buying in IT and Teck (technology, media and entertainment) stocks, as well as a strong rupee.
The indices closed on a flat-to-positive note as most gains were capped by weak global cues and selling pressure in index heavyweights like Dr. Reddy’s Lab, Bajaj Auto, Adani Ports and NTPC on the BSE.
On closing basis, the wider Nifty50 of the National Stock Exchange (NSE) was up 6.45 points or 0.06 per cent at 10,348.75 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed higher by 26.53 points or 0.08 per cent at 33,588.08 points.
The BSE market breadth was bullish — 1,415 advances and 1,284 declines.
“Benchmark indices traded in a narrow range where markets did not do much for the entire day. Weekly expiry options were the flavor of the day,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“Chinese shares tumbled on Thursday with the blue-chip index suffering its worst fall in nearly 20 months as worries about a sell-off in the bond market bled into equities,” Desai added.
On the currency front, the rupee stregthened by 33 paise to 64.58-59 against the US dollar from its previous close at 64.91-92.
Provisional data with the exchanges showed that foreign institutional investors bought scrips worth Rs 73.22 crore, while domestic institutional investors purchased stocks worth Rs 222.21 crore.
According to Deepak Jasani, Head, Retail Research, HDFC Securities, it was the sixth consecutive session of gains for the Nifty.
“Broad market indices like the BSE mid-cap and small-cap indices ended with bigger gains, thereby outperforming the main indices,” Jasani told IANS.
The BSE mid-cap closed higher by 0.30 per cent, while the small-cap index was up 0.51 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market traded between gains and losses due to subdued trend in global market. After the completion of Q2 results investors are looking for fresh triggers, upcoming state election will be a key catalyst in the direction.”
“On the global front, Fed’s divergence in opinion on inflation growth in the minutes may refrain the chair to take aggressive rate hike in Dec which is positive for Indian market,” added Nair.
Sector-wise, the S&P BSE IT index rose by 139.62 points, followed by consumer durables index by 89.74 points and capital goods index by 81.91 points.
On the other hand, the S&P BSE auto index fell by 57.70 points, metal index by 49.53 points and finance index by 12.49 points.
Major Sensex gainers on Thursday were: Infosys, up 2.60 per cent at Rs 991.40; Sun Pharma, up 1.78 per cent at Rs 544.75; Reliance Industries, up 1.60 per cent at Rs 945.15; Power Grid, up 1.04 per cent at Rs 209.20; and Axis Bank, up 0.78 per cent at Rs 544.25.
Major Sensex losers were: Dr. Reddy’s Lab, down 2.10 per cent at Rs 2,311.65; Adani Ports, down 1.71 per cent at Rs 407.20; Bajaj Auto, down 1.52 per cent at Rs 3,261.85; Asian Paints, down 1.12 per cent at Rs 1,161.25; and NTPC, down 0.94 per cent at Rs 180.
–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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