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Indian equity indices end higher on firm global cues (Roundup)

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Mumbai, April 9 (IANS) The key Indian equity indices rose on Monday in line with their international peers after signs emerged over easing of recent global trade protectionist measures.

According to market analysts, other global cues such as supportive US-based macro-economic data, and healthy buying in consumer durables, banking and oil and gas stocks aided in the equity indices’ northward trajectory.

Index-wise, the wider Nifty50 of the National Stock Exchange (NSE) ended the day’s trade at 10,379.35 points — up 47.75 points or 0.46 per cent from its previous close.

The barometer 30-scrip Sensex of the BSE, which opened at 33,608.59 points, closed at 33,788.54 points — up 161.57 points or 0.48 per cent from its previous session’s close.

The Sensex touched a high of 33,697.51 points and a low of 33,501.37 points during the intra-day trade.

The BSE market breadth was bullish with 1,642 advances and 1,087 declines. Similarly, the market breadth was positive on the NSE.

“The gains came on the back of positive global cues as they rallied on the expectation that a full blown trade war between the United States and China could be averted,” Deepak Jasani, Head, Retail Research, HDFC Securities told IANS.

He further said that broad market indices like the BSE mid-cap and small-cap indices gained less, thereby underperforming the main indices.

According to Vinod Nair, Head of Research, Geojit Financial Services, markets extended gains tracking positive cues from Asian and European peers on account of lower than expected US non-farm payrolls easing concerns about sharp rise in US interest rates.

On the currency front, the Indian rupee weakened around five paise to end at 65.02 against the US dollar.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 1,300.93 crore, while the domestic institutional investors purchased stocks worth Rs 359.35 crore.

Sector-wise, S&P BSE consumer durables index, gained the most, with 377.24 points followed by, banking index, up 250.76 point and oil and gas index, up 225.89 points.

Top losers among the BSE sectors were: S&P BSE information technology index, down 112.58 points, S&P BSE Teck (technology, media and entertainment), down 64.68 points and healthcare index, down 35.86 points.

Major Sensex gainers on Monday were: Axis Bank, up 3.44 per cent at Rs 517.90; Mahindra and Mahindra, up 2.15 per cent at Rs 786.00; ITC, up 2.05 per cent at Rs 265.95; IndusInd Bank, up 1.90 per cent at Rs 1,858.45; and Hindustan Unilever, up 1.18 per cent at Rs 1,391.85

Top losers on Sensex were: Tata Motors (DVR), down 2.11 per cent at Rs 202.05; Indosys, down 1.62 per cent at Rs 1,110.95; Tata Motors, down 1.53 per cent at Rs 358.30; Bharti Airtel, down 1.21 per cent at Rs 380.75; and TCS, down 0.97 per cent at Rs 2,921.15 per share.

–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

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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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