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Equities close with marginal gains, healthcare stocks surge (Roundup)
Mumbai, Aug 24 (IANS) Key Indian equity indices — the NSE Nifty50 and the BSE Sensex — on Thursday closed on a flat-to-positive note as short covering in healthcare stocks, coupled with positive European markets and a strong rupee, kept investors’ sentiments afloat.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) closed fractionally higher by 4.55 points or 0.05 per cent at 9,857.05 points.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,673.44 points, provisionally closed at 31,596.06 points — up 28.05 points or 0.09 per cent from the previous close at 31,568.01 points.
The Sensex touched a high of 31,678.19 points and a low of 31,546.05 points during the intra-day trade.
The BSE market breadth was bullish with 1,452 advances and 1,119 declines.
In terms of the broader markets, the S&P BSE mid-cap index rose by 0.80 per cent, and the small-cap index by 0.46 per cent.
“Benchmark indices traded flat on Thursday following Asian markets, which shrugged off comments from US President Donald Trump about a shutdown of his government if the US Congress fails to fund a Mexico border wall,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“Investors also kept a close eye on a central banking conference in Jackson Hole, Wyoming, which begins (later) on Thursday, where Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are both due to speak,” Desai added.
On the currency front, the Indian rupee strengthened by 7-8 paise to 64.03-04 to a US dollar from its previous close at 64.11.
In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 696.93 crore, while domestic institutional investors (DIIs) purchased stocks worth Rs 1,044.38 crore.
“After opening on a positive note today, the Nifty failed to display upside momentum and remained within a small range of 32 points through the day. Highlight for the day was outperformance of pharma stocks,” said Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS.
“Sectorally, most of the sectors of the broader markets moved up marginally except NSE pharma which rose sharply. European indices like FTSE 100, DAX and CAC 40 traded higher,” he added.
Sector-wise, the S&P BSE healthcare index surged by 326.98 points, followed by capital goods index by 90 points and the IT index by 68.42 points.
On the other hand, the S&P BSE FMCG index fell by 23.67 points, the oil and gas index by 17.93 points, and the realty index by 17.50 points.
Major Sensex gainers on Thursday were: Lupin, up 3.87 per cent at Rs 991.75; Sun Pharma, up 3.10 per cent at Rs 483.30; Dr. Reddy’s Lab, up 2.88 per cent at Rs 2,087.90; Cipla, up 2.47 per cent at Rs 573.40; and Infosys, up 2.01 per cent at Rs 912.50.
Major Sensex losers were: Adani Ports, down 1.32 per cent at Rs 379.95; Bajaj Auto, down 1.04 per cent at Rs 2,731.85; Reliance Industries, down 0.88 per cent at Rs 1,567.40; HDFC, down 0.73 per cent at Rs 1,750; and Hindustan Unilever, down 0.72 per cent at Rs 1,178.95.
The Indian equity markets will remain closed on Friday on account of Ganesh Chaturthi.
–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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