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Sensex, Nifty50 break records to scale fresh highs; durables, auto stocks lead (Roundup)
Mumbai, Oct 30 (IANS) With hopes of better quarterly results, coupled with a strong rupee and healthy buying in consumer durables, automobile and oil and gas stocks, lifting investors’ sentiments, key Indian equity indices on Monday scaled fresh highs both on closing as well as intra-day basis.
According to market observers, index heavyweights like Lupin, ONGC and Tata Motors, along with expectations of faster economic growth on the back of the funding policy for state-run banks announced last week, aided in the upward trajectory of the key indices.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at a fresh high of 33,266.16 points — up 108.94 points or 0.33 per cent — after touching a record high of 33,340.17 points intra-day.
The broader Nifty50 of the National Stock Exchange (NSE), which touched an intra-day record high of 10,384.50 points, closed at a new high of 10,363.65 points.
The BSE market breadth was bullish — 1,693 advances and 1,021 declines.
“Carrying on from last week, markets surged higher on Monday to close with healthy gains. A record close in US markets on Friday helped the Indian markets surge higher,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Technically, with the Nifty surging higher and closing at new life highs, the underlying trend remains up,” he added.
In terms of the broader markets, the S&P BSE mid-cap index closed higher by 1.13 per cent and the small-cap index by 1.25 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Strengthening rupee and affirming signs of recovery in domestic earnings season continued to lift the market. Infra, PSU banks and auto stocks are performing well due to stimulus package and likely good sales data due to festival demand.”
“On the global front, market participants are likely to stay conservative ahead of the two days FOMC (Federal Open Market Committee) meeting from tomorrow (Tuesday).”
On the currency front, the rupee strengthened by 20-21 paise to close at 64.85-86 against the US dollar from its previous close at 65.05.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 186.04 crore, whereas domestic institutional investors (DIIs) purchased stocks worth Rs 139.68 crore.
“The benchmark Sensex and the broader Nifty on Monday jumped to new life highs of 33,295 and 10,369, respectively, with encouraging quarterly earnings sending out a positive signal among investors. PSU, consumer durables, infrastructure and auto stocks remained in the lead,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“Positive Asian shares added to optimism. State-run lenders drove the indices higher, with the Nifty PSU bank index rising as much as 4.3 per cent,” he added.
All the sub-indices on the BSE ended in green, barring the FMCG index, which fell by 42.71 points, and the metal index by 26.18 points.
Sector-wise, the S&P BSE consumer durables index surged by 428.09 points, followed by the automobile index by 213.24 points and the capital goods index by 190.24 points.
Major Sensex gainers on Monday were: Lupin, up 2.67 per cent at Rs 1,027.55; Tata Motors (DVR), up 2.38 per cent at Rs 243.35; ONGC, up 1.69 per cent at Rs 186.65; Bharti Airtel, up 1.59 per cent at Rs 492.80; and Dr. Reddy’s Lab, up 1.57 per cent at Rs 2,433.
Major Sensex losers were: Hindustan Unilever, down 1.71 per cent at Rs 1,235.90; ITC, down 1.56 per cent at Rs 265.15; Wipro, down 1.15 per cent at Rs 293.20; Tata Steel, down 1.03 per cent at Rs 718.80; and Mahindra and Mahindra, down 0.83 per cent at Rs 1,374.45.
–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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