Top News
Weak global cues subdue equity indices; Sensex down over 300 points (Roundup)
Mumbai, Sep 3 (IANS) Weak global cues along with a slowdown in the manufacturing sector plunged the key Indian equity indices nearly 1 per cent on Monday after the indices started the day’s trade on a sharply higher note.
Globally, investor sentiments were subdued owing to the concerns of escalation in the US-China trade war, according to analysts.
The Nikkei India Manufacturing Purchasing Managers’ Index was registered at 51.7 in August, compared to 52.3 in July, which further dampened the domestic sentiments.
The indices had opened sharply higher on the back of healthy April-June GDP data released last week but could not hold on to the gains.
Although the market saw a gradual decline from the highs throughout the day, a major drop in the indices occurred around the last hour of trade.
Index-wise, the Nifty50 on the National Stock Exchange (NSE) closed at 11,582.35 points, lower by 98.15 points or 0.84 per cent from its previous close of 11,680.50 points.
Similarly, the barometer S&P BSE Sensex closed in the negative territory. It had opened at 38,915.91 points, closed at 38,312.52 points, lower by 332.55 points or 0.86 per cent from the previous close of 38,645.07 points.
Volatility in the market can be gauged from the fact that it traversed from the day’s high of 38,934.35 points hit in the morning session to a low of 38,270.01 points by the end of the trade.
In the broader markets, the S&P BSE Mid-cap declined by 0.45 per cent while the S&P BSE Small-cap declined by 0.17 per cent from its previous close. The BSE market breadth was largely even with 1,399 declines and 1,351 advances.
“Trading for the week began on a positive note as key benchmark indices edged higher in early trade boosted by good first-quarter GDP data,” said Abhijeet Dey, Senior Fund Manager for Equities at BNP Paribas Mutual Fund.
However, the market finally closed the day’s trade in the red due to selling pressure, Dey added.
According to Deepak Jasani, Head of Retail of Research, HDFC Securities, the major Asian markets closed on a negative note, and the European indices like FTSE 100 and CAC 40 traded in the green.
On the currency front, the Indian rupee crashed to close at a fresh low of 71.21 against the US dollar, weaker by 21 paise weaker than its previous close of 70.99-71 per greenback.
The collapse in the Indian rupee came around the last hour of trade, after it had traded strongly than its previous close for most part of the day.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrips worth Rs 21.13 crore and domestic institutional investors sold stocks worth Rs 542.12 crore.
Sector-wise, the S&P BSE consumer durables index rose 85.27 points, the metal index was up 35.37 points and the telecom index rose by 6.39 points.
In contrast, the S&P BSE banking index declined by 365.55 points, the FMCG index fell by 273.04 points and auto stocks stocks ended 211.18 points lower than its previous close.
The top gainers at the Sensex were Wipro, up 2.49 per cent at Rs 309.15, Tata Motors (DVR), up 1.34 at Rs 144.10; Bajaj Auto, up 0.68 per cent at Rs 2,765.15; HDFC Bank, up 0.58 per cent at Rs 2,074.30 and Sun Pharma, up 0.57 per cent at Rs 655.95.
The majors losers were Hindustan Uniliver, down 4.58 per cent at Rs 1,699.05; Power Grid, down 2.92 per cent at Rs 194.75; Axis Bank, down 2.69 per cent at Rs 631.75; ICICI Bank, down 2.51 per cent at Rs 334.05 per share; and ITC, down 2.01 per cent at Rs 312.75 per share.
–IANS
ravi-rrb/mr
Top News
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.
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
