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Healthy macro-data lifts equities; metals, IT stocks surge (Roundup)
Mumbai, April 13 (IANS) Healthy macro-economic data, along with robust buying in metals, IT and healthcare stocks, led the key Indian equity indices to extend their gains for the seventh consecutive session on Friday.
Market observers said some gains were capped on the back of a sell-off during the late-afternoon trade session.
“Equity markets continued to go green for the seventh straight session, its longest winning streak since November 2017,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) edged higher by 41.50 points or 0.40 per cent to 10,458.65 points.
The barometer 30-scrip Sensex of the BSE closed at 34,192.65 points — up 91.52 points or 0.27 per cent from its previous session’s close.
However, the BSE market breadth remained bearish with 1,434 declines and 1,291 advances.
In the broader markets, the S&P BSE mid-cap index edged higher by 0.46 per cent and the small cap index by 0.26 per cent.
“Markets moved up further on Friday as the Nifty ended with gains for the seventh consecutive session. A sell-off from the highs in the afternoon session curbed the gains for the day,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Major Asian markets have closed on a mixed note. European indices like DAX and CAC 40 traded in the green,” he said.
Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund, said: “Indian markets opened the day on a buoyant note in response to positive macro-economic data released in India after trading hours, yesterday (Thursday).”
“However, bouts of volatility plagued the markets and kept any large gains at bay. Both the benchmark Sensex and the Nifty finally closed the day with marginal gains,” he added.
Official data released post market hours on Thursday showed that India’s March retail inflation eased to 4.28 per cent, while factory production growth slowed marginally in February to 7.1 per cent.
On Friday, the Indian rupee strengthened by five paise to 65.21 against the US dollar from its previous close at 65.26.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 399.59 crore, while the domestic institutional investors purchased stocks worth Rs 306.05 crore.
Sectorwise, the S&P BSE metal index rose by 139.57 points, followed by healthcare index by 75.98 points and IT index by 64.22 points.
On the other hand, the S&P BSE capital goods index fell by 64.02 points, oil and gas index by 37.04 points and FMCG index by 31.87 points.
Major Sensex gainers on Friday were: Adani Ports, up 2.66 per cent at Rs 381.95; Wipro, up 2.28 per cent at Rs 293.35; Coal India, up 1.57 per cent at Rs 285.35; Kotak Bank, up 1.52 per cent at Rs 1,148.50; and Dr. Reddy’s Lab, up 1.37 per cent at Rs 2,087.
The Sensex losers were: State Bank of India, down 1.22 per cent at Rs 251.20; Axis Bank, down 1.17 per cent at Rs 541.90; Yes Bank, down 0.66 per cent at Rs 309.40; Maruti Suzuki, down 0.65 per cent at Rs 9,138.45; and Bharti Airtel, down 0.61 per cent at Rs 377.80.
–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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