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Equity indices surge to fresh highs on global cues, healthy buying (Roundup)
Mumbai, Nov 3 (IANS) Broadly positive global cues, coupled with healthy buying in banking, capital goods and auto stocks, lifted the key Indian equity indices on Friday to close at fresh highs.
According to market observers, index heavyweights like State Bank of India (SBI), Larsen and Toubro (LT), Tata Motors and ONGC, among others, aided in the upward trajectory of the benchmark indices.
The broader Nifty50 of the National Stock Exchange scaled a fresh intra-day high of 10,461.70 points and the barometer 30-scrip Sensitive Index (Sensex) of the BSE of 33,733.71 points.
On closing basis, the Nifty50 rose by 28.70 points, or 0.28 per cent, to a new high of 10,452.50 points. Its earlier record was 10,440.50 points (November 1).
Surpassing its previous record closing at 33,600.27 points, the BSE Sensex closed at a fresh high of 33,685.56 points — up 112.34 points, or 0.33 per cent.
The BSE market breadth was bullish — 1,420 advances and 1,329 declines.
In terms of the broader market, the S&P BSE mid-cap index closed a tad lower by 0.07 per cent, whereas the small-cap index was up 0.49 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market extended gain supported by strengthening rupee on account of flow of foreign funds due to improving economic data.
“Better service PMI (Purchasing Manager’s Index) data and core industry numbers is providing signs of ease in GST led bottlenecks and lifted the sentiment.”
On the currency front, the rupee strengthened by six paise to close at 64.55 against the US dollar from its previous close at 64.61.
However, in terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 9,690.84 crore, whereas domestic institutional investors (DIIs) purchased stocks worth Rs 33.40 crore.
“The recent surge in public sector banks (PSBs) has created a momentum play where they look more attractive to traders. The differences in valuations between private banks and PSBs have reduced,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
Sector-wise, the S&P BSE banking index rose by 289.04 points, followed by capital goods index by 201.47 points and automobile index by 59.04 points.
On the other hand, the S&P BSE healthcare index fell by 81.57 points, oil and gas index by 26.06 points and metal index by 19.69 points.
“Counters like pharma and metals witnessed profit booking after recent outperformance, where investors who missed the opportunity can consider the consolidation as an opportunity,” said Nair.
Major Sensex gainers on Friday were: SBI, up 3.19 per cent at Rs 325; Tata Motors, up 2.78 per cent at Rs 446.90; Tata Motors (DVR), up 2.02 per cent at Rs 246.90; LT, up 1.98 per cent at Rs 1,235; and Axis Bank, up 1.87 per cent at Rs 540.
Major Sensex losers were: Power Grid, down 2.05 per cent at Rs 210.60; Sun Pharma, down 1.95 per cent at Rs 552.20; Coal India, down 1.73 per cent at Rs 286.60; Hero MotoCorp, down 1.23 per cent at Rs 3,687; and Lupin, down 1.10 per cent at Rs 1,049.25.
–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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