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Equities close marginally lower; Nifty50 hits fresh intra-day high (Roundup)
Mumbai, Sep 19 (IANS) Broadly negative global cues along with profit booking in metals, consumer durables and healthcare stocks and huge outflow of foreign funds led the key Indian equity indices to close on a flat-to-negative note on Tuesday.
According to market observers, investors were cautious ahead of the two-day US Federal Reserve meeting slated for later in the evening (India time).
The wider Nifty50 of the National Stock Exchange (NSE) touched a fresh high of 10,178.95 points during intra-day trade, but failed to sustain that level and closed at 10,147.55 points — marginally lower by 5.55 points or 0.05 per cent — from its previous session’s close.
The 30-scrip Sensitive Index (Sensex) of the BSE closed at 32,402.37 points — down 21.39 points, or 0.07 per cent, from its previous close, touching a high of 32,524.11 points and a low of 32,358.63 during intra-day trade.
The BSE market breadth was bearish with 1,309 declines and 1,297 advances.
In contrast, the broader market indices outperformed the Sensex, with the S&P BSE mid-cap index rising by 0.13 per cent and the small-cap index by 0.36 per cent.
“Markets ended marginally lower on Tuesday after a range bound session. Today’s losses came after the breakout seen yesterday indicating that the markets have taken a breather,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Major Asian markets have ended on a mixed note. European indices like FTSE 100 and CAC 40 traded higher,” he added.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market traded on a flat note as investors are turning more cautious on account of Fed policy meeting. Also, the concern on valuation and lack of supportive cues to outpace the resistance influenced investors to book some profit.”
During the day, the Indian rupee weakened by 19-20 paise to 64.33 against the US dollar from its previous close at 64.13-14.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 1,719.62 crore while domestic institutional investors (DIIs) divested stocks worth Rs 77.68 crore.
According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the Nifty hit a record high on Tuesday before erasing gains to trade slightly lower, dragged down by market heavyweights such as ITC.
“Broader sentiment was also cautious with investors awaiting the Federal Reserve’s policy statement this week for fresh hints on the possible pace and timing of further US monetary tightening,” Desai told IANS.
Sector-wise, the S&P BSE metals automobile index fell by 81.10 points, capital goods index by 71.14 points and consumer durables index by 58.81 points.
On the other hand, the S&P BSE oil and gas index surged by 175.67 points, automobile index by 151.97 points and banking index was up 36.94 points.
Major Sensex gainers on Tuesday were: Tata Motors, up 4.58 per cent at Rs 423.90; Tata Motors (DVR), up 3.22 per cent at Rs 240.65; Kotak Bank, up 1.63 per cent at Rs 1,035.50; Cipla, up 0.61 per cent at Rs 573.50; and ICICI Bank, up 0.60 per cent at Rs 294.35.
Major Sensex losers were: Coal India, down 2.49 per cent at Rs 258.20; HDFC, down 1.02 per cent at Rs 1,752.85; Larsen and Toubro, down 0.92 per cent at Rs 1,226.40; State Bank of India, down 0.87 per cent at Rs 267.80; and Sun Pharma, down 0.84 per cent at Rs 516.60.
–IANS
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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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