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Equities slip on negative global cues, volatility on F&O expiry (Roundup)
Mumbai, March 28 (IANS) Key Indian equity indices on Wednesday closed on a lower note — amid volatility infused by March futures and options (F&O) expiry — as negative global markets, along with heavy selling pressure in metals, banking and healthcare stocks, hampered investors’ risk-taking appetite.
On a closing basis, the Nifty50 of the National Stock Exchange (NSE) fell by 70.45 points or 0.69 per cent to 10,113.70 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 32,968.68 points — down 205.71 points or 0.62 per cent from the previous session’s close.
The BSE market breadth was bearish with 1,758 declines and 895 advances.
In terms of the broader markets, the S&P BSE mid-cap index fell by 0.53 per cent and the small-cap index by 0.92 per cent.
“Markets ended lower on Wednesday after two sessions of gains and ahead of a long weekend. The losses came on the back of negative Asian and European equity markets,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“It was also the derivative expiry day of the March series as also the last trading day of the month, quarter and fiscal year,” he added.
On the currency front, the Indian rupee weakened by 20 paise to close at 65.18 against the US dollar from its previous close at 64.98.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 1,190.55 crore, while the domestic institutional investors purchased stocks worth Rs 1,960.67 crore.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market slid on the expiry day due to volatility in global market and last leg of redemption ahead of introduction of LTCG (long term capital gains) tax.”
“We expect domestic volatility to normalise as declining yield and inflation may provide room for the Reserve Bank of India to extend their neutral stance, against rate hike expectation. Result season will be next major trigger as earnings growth remain in the initial stage of recovery while investors are focused on the possibility of further upgrade,” he added.
Almost all sectoral indices of the BSE ended with losses, barring the S&P BSE consumer durables index, which rose by 52.46 points, and the oil and gas index, up 9.19 points.
The S&P BSE metal index plunged by 276.75 points, followed by banking index by 176.92 points and healthcare index by 151.15 points.
Major Sensex gainers on Wednesday were: Wipro, up 3.27 per cent at Rs 281.45; Coal India, up 2.94 per cent at Rs 283.50; Hero MotoCorp, up 2.30 per cent at Rs 3,545.50; Yes Bank, up 0.49 per cent at Rs 304.90; and IndusInd Bank, up 0.43 per cent at Rs 1,795.60.
The Sensex losers were: Tata Steel, down 3.25 per cent at Rs 570.90; Bharti Airtel, down 3.05 per cent at Rs 398.90; Adani Ports, down 2.93 per cent at Rs 354.65; Sun Pharma, down 1.95 per cent at Rs 495.40; and ICICI Bank, down 1.94 per cent at Rs 278.40.
–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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