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Positive global cues, banks stocks push equity indices higher (Roundup)
Mumbai, March 27 (IANS) Extending gains for the second consecutive session, the key Indian equity indices on Tuesday closed in the green as positive global cues, along with healthy buying in banking and metals stocks, gave a boost to investors’ risk-taking appetite.
According to market observers, positive global markets on the back of easing trade war fears among major world economies, coupled with the Central government’s plan to reduce borrowing, uplifted investors’ sentiments.
However, caution ahead of March derivatives expiry on Wednesday added to the initial volatility in the key indices.
On a closing basis, the Nifty50 of the National Stock Exchange (NSE) edged higher by 53.50 points or 0.53 per cent to 10,184.15 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,174.39 points — up 107.98 points or 0.33 per cent from the previous session’s close.
The BSE market breadth was bullish with 1,852 advances and 806 declines.
In terms of the broader markets, the S&P BSE mid-cap index rose by 1.06 per cent and the small-cap index by 1.36 per cent.
“Markets ended with modest gains on Tuesday. The gains came on the back of positive Asian and European equity markets. Sentiments turned positive on easing trade war fears between the US and China,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Cut in government’s borrowing plan and ease in global trade tensions lifted the market to float above the 200 DMA. Banks led from the front while bond yield shred by 31 basis points to two months low at 7.31, supporting investors’ sentiment.”
“Mid and small-cap outperformed main indices while caution ahead of F&O (futures and options) expiry limited further upside,” he added.
On Monday, the Central government said it will borrow only Rs 2.88 lakh crore through its benchmark bond scheme in the first half of FY19 — 47.5 per cent of the total budgeted amount — as against 60-65 per cent share in this period in previous years.
The Indian rupee on Tuesday closed almost flat at 64.98 against the US dollar from its previous close at 64.87.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors purchased scrips worth Rs 1,063.12 crore and the domestic institutional investors worth Rs 2,172.91 crore.
All the sectors — barring the S&P BSE telecom index, which fell by 18.92 points — closed with gains.
The S&P BSE banking index surged by 253.46 points, followed by metal index by 224.73 points and capital goods index by 164.15 points.
Major Sensex gainers on Tuesday were: State Bank of India, up 3.04 per cent at Rs 253.85; IndusInd Bank, up 1.56 per cent at Rs 1,787.90; Tata Steel, up 1.30 per cent at Rs 590.05; Asian Paints, up 1.16 per cent at Rs 1,131.75; and Tata Consultancy Services, up 1.02 per cent at Rs 2,841.85.
The Sensex losers were: Bharti Airtel, down 2.42 per cent at Rs 411.45; Bajaj Auto, down 1.27 per cent at Rs 2,803.20; HDFC, down 0.58 per cent at Rs 1,821.95; Wipro, down 0.49 per cent at Rs 272.55; and Hero MotoCorp, down 0.44 per cent at Rs 3,465.85.
–IANS
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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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