National
Equities gain despite weak global cues, banks stocks up (Roundup)
Mumbai, April 3 (IANS) Despite volatility in the global markets, the key Indian equity indices closed Tuesday’s rangebound trade session with appreciable gains led by healthy buying in banking, auto, oil and gas, and healthcare stocks.
According to market observers, banking stocks got a fillip after the Reserve Bank of India (RBI) on Monday allowed banks to spread bond losses over four quarters, which also led to an upsurge in the benchmark indices during the closing hour of trade.
On Tuseday, the wider Nifty50 of the National Stock Exchange (NSE) edged higher by 33.20 points or 0.33 per cent to close at 10,245 points.
The barometer 30-scrip Sensitive index (Sensex) of the BSE closed at 33,370.63 points — up 115.27 points or 0.35 per cent from its previous session’s close.
The BSE market breadth was bullish with 1,848 advances and 798 declines.
In terms of the broader markets, the S&P BSE mid-cap index was up 0.92 points and the small-cap index up 1.35 points.
“Markets moved up further on Tuesday to end with modest gains for the second consecutive session. The Nifty in the process closed above the immediate resistances of 10,227 despite weak global cues,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Major Asian markets closed on a negative note. European indices like FTSE 100, DAX and CAC 40 traded in the red,” he added.
On the currency front, the Indian rupee strengthened by around 16 paise to close at 65.02 against the US dollar from Wednesday’s close at 65.18.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 376.51 crore, while the domestic institutional investors purchased stocks worth Rs 479.18 crore.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market traded rangebound throughout the day due to volatility in the global market. But towards the close, pace picked-up supported by moderation in yield and growth in core sector.”
Official data released post market hours on Monday showed that the Index of Eight Core Industries (ECI) — which represents the output of major sectors like coal, steel, cement and electricity — rose by 5.3 per cent last month compared to an increase of 6.1 per cent in January.
However, on an year-on-year basis, the ECI showed an uptrend. It had inched up by 0.6 per cent in the corresponding month of 2017.
“Yield declined amid central bank allowing the banks to spread their bond trading losses which gave a positive sentiment to banking stocks. On the other hand, investors are gradually shifting focus to upcoming Q4 (fourth quarter) results and RBI policy outcome which will dictate the market outlook in the near term,” said Nair.
Sector-wise, the S&P BSE banking index rose by 293.63 points, followed by auto index by 208.09 points and oil and gas index by 90.98 points.
On the other hand, the S&P BSE consumer durables index fell by 135.26 points, IT index by 29.60 points and Teck (media, entertainment and technology) index by 5.31 points.
Major Sensex gainers on Tuesday were: ICICI Bank, up 2.94 per cent at Rs 269.60; Mahindra and Mahindra, up 2.92 per cent at Rs 769.40; Tata Motors (DVR), up 2.22 per cent at Rs 193.40; Yes Bank, up 2.11 per cent at Rs 312.65; and Power Grid, up 1.90 per cent at Rs 198.40.
The Sensex losers were: Wipro, down 2.02 per cent at Rs 283.90; ONGC, down 1.28 per cent at Rs 177.70; Adani Ports, down 0.86 per cent at Rs 366.80; HDFC Bank, down 0.74 per cent at Rs 1,916.10; and Bajaj Auto, down 0.60 per cent at Rs 2,791.75.
–IANS
ppg-rrb/vd
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.
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
Cheers and Cheers: Barzilla’s Joyful Ode to Inclusivity and Celebration
Casino Days Reveal Internal Data on Most Popular Smartphones
Meghalaya Reserves Legalized Gambling and Sports Betting for Tourists
IPL 20202 UPDATE: KXIP vs MI IPL Dream11 Team Prediction for Today Match, Update Point Table of all Team.
In a Live debate AAP leader Syed Asad Abbas hurls abuses to BJP spokesperson Nupur Sharma.
‘India’s Most Wanted’ trailer out Arjun Kapoor on hunt of Osama-Bin-Laden
Time to move on: Sonakshi on Shatrughan’s joining Congress
