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Q4 results lift equity indices to 3-month high levels (Roundup)
Mumbai, April 27 (IANS) Key domestic equity indices reached their new three-month highs on Friday, as better than expected quarterly results, along with healthy buying in banking and capital goods stocks enhanced investors’ risk-taking appetite.
Even positive global cues, and a massive influx of investments by domestic institutional investors (DII) supported the indices’ northward trajectory.
Accordingly, the wider Nifty50 of the National Stock Exchange (NSE) closed at 10,692.30 points, up 74.50 points or 0.70 per cent from the previous close.
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE ended higher. The Sensex, which opened at 34,747.04 points, closed at 34,969.70 points — up 256.10 points or 0.74 per cent — from the previous session’s close.
It touched a high of 35,065.37 and a low of 34,744.73 points during the intra-day trade.
The BSE market breadth was bullish with 1,401 advances and 1,234 declines. The market breadth in the NSE, too, was bullish during the day.
In the broader markets, the S&P BSE mid-cap index rose by 0.79 per cent and the small-cap index closed higher by 0.42 per cent.
“Markets closed higher on Friday led by buying in bank shares and favourable global cues. Both the Sensex and the Nifty closed at their highest levels in more than 12 weeks,” said Deepak Jasani, Head, Retail Research, HDFC Securities.
“All the Asian markets have closed on a positive note. European indices like FTSE 100, CAC 40 and DAX currently traded in the green,” Jasani told IANS.
Abhijeet Dey, Senior Fund Manager, Equities, BNP Paribas Mutual Fund, said: “Stock markets in India witnessed a gap up opening today and continued to trade firm through the day. Encouraging Q4 numbers and positive global cues buoyed investor sentiment and pushed the Sensex to flirt with the psychologically important 35,000 level.”
“Global sentiment was also upbeat after treasury yields in the US pulled back and the European Central Bank kept rates unchanged,” he added.
On the currency front, the Indian rupee strengthened by nine paise to 66.67 against the US dollar from its previous close at 66.76.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 759.21 crore, while the domestic institutional investors purchased stocks worth Rs 633.71 crore.
Sector-wise, the S&P BSE banking index surged by 559.54 points, followed by the capital goods index by 266.43 points, and the oil and gas index by 152.15 points.
On the other hand, the S&P BSE IT index fell by 142.99 points, the consumer durables by 55.31 points and the Teck (technology, media and entertainment) index by 52.62 points.
The major gainers on the Sensex were Axis Bank, up 8.97 per cent at Rs 538.90; State Bank of India, up 3.99 per cent at Rs 242.65; ICICI Bank, up 3.34 per cent at Rs 288.05; Sun Pharma, up 2.28 per cent at Rs 524.25; and Larsen and Toubro, up 2.23 per cent at Rs 1,377.00 per share.
The top losers were Tata Consultancy Services, down 2.42 per cent at Rs 3,454.80; Wipro, down 2.17 per cent at Rs 275.35; Maruti Suzuki, down 1.90 per cent at Rs 8,777.95; Coal India, down 1.64 per cent at Rs 285.55; and Hero MotoCorp, down 1.20 per cent at Rs 3,711.65 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
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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