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Equity indices to follow quarterly results, macro-data (Market Outlook)

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Mumbai, Oct 15 (IANS) With the Nifty50 already at record high levels ahead of the onset of the festive season, market observers feel that the ongoing quarterly results season, along with the release of some key data points, are expected to guide the movement of key Indian equity indices next week.

“Keeping aside geo-political issues, which have been on and off, all eyes will be on the Indian indices as quarterly results season has begun,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

Major companies which will announce the July-September quarter earnings during the upcoming week include Bajaj Finance, Colgate Palmolive, Federal Bank, ACC, Axis Bank, Bajaj Auto, Wipro and UltraTech Cement.

Along with quarterly results, investors will keep a watch on some major macro-economic data to be released over the week.

“The focus will continue to be on results in this month. Sectors like financials, auto, metals, and consumer durables could see interest on back of results,” said Arpit Jain, AVP at Arihant Capital Markets.

“On the macro front, Wholesale Price Index inflation data for September will be announced on Monday. Crude, refinery output for September will be announced on October 20-27,” Jain added.

According to Vinod Nair, Head of Research, Geojit Financial Services, quarterly results have started on a positive note led by the IT and finance sector, raising investors’ hopes for good second quarter results and festival ecstasy.

“Domestic market has largely factored in the near term hiccups in corporate earnings due to GST. Currently, market is looking at Q2 with a high year-on-year growth expectation of over six per cent for Sensex30 and 13 per cent for Nifty50,” Nair added.

On the technical level, Head of Retail Research for HDFC Securities Deepak Jasani said that with the Nifty making fresh new highs, the sentiments will continue to be mildly bullish.

“The next resistance for the markets could be 10,190 and later 10,265. On corrections, Nifty could take support at 9,945,” Jasani told IANS.

During the week gone by, key Indian equity indices rode the bulls supported by good buying sentiments, with the wider Nifty50 of the National Stock Exchange (NSE) hitting record highs on the last trading day of the week.

The Nifty50, on Friday (October 13), closed trade at a new high of 10,167.45 points, surpassing its previous closing high of 10,153.10 points scaled on September 18. On a weekly basis, it edged higher by 187.75 points, or 1.88 per cent.

The index also hit a fresh intra-day high of 10,191.90 points on Friday, crossing its previous high of 10,178.95 points on an intra-day basis scaled on September 19.

The 30-scrip Sensitive Index (Sensex) of the BSE, too, witnessed a strong closing at 32,432.69 points — up 618.47 points, or 1.94 per cent, on a weekly basis — its highest level since August 1 when it closed at a high of 32,575.17 points.

In the week ahead, Muhurat trading will be held on Thursday, October 19. The special trading session is held every year on Diwali.

The equity markets will remain closed on Friday, October 20, on the occasion of Diwali Balipratipada.

–IANS
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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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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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