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Equities close in green on healthy buying in index heavyweights (Roundup)
Mumbai, Nov 10 (IANS) Last-hour buying in capital goods, banking and consumer durables stocks lifted the two key Indian indices — the NSE Nifty50 and the BSE Sensex — to close Friday’s trade in the positive territory.
Index heavyweights like the State Bank of India (SBI), Larsen and Toubro (LT), Hindustan Unilever (HUL) and Mahindra and Mahindra (M&M) among others aided in the upward trajectory of the key indices.
The gains came in though the indices traded on a volatile note for most of the day on the back of negative global cues, outflow of foreign funds and caution ahead of the outcome of the two-day GST Council meet due later in the evening.
On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) rose by 12.80 points, or 0.12 per cent, to 10,321.75 points.
The 30-scrip S&P BSE Sensex closed at 33,314.56 points — up 63.63 points or 0.19 per cent — from Thursday’s close.
However, the BSE market breadth was bearish — 1,528 declines and 1,155 advances.
In terms of the broader markets, the BSE mid-cap closed lower by 0.09 per cent, whereas the small-cap index closed higher by 0.07 per cent.
“The benchmark indices ended positive on Friday after index heavyweight SBI rallied 6 per cent post its September quarter numbers,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“Gains were, however, capped as refiners such as Reliance Industries tumbled after oil prices gained overnight. Tata Motors slipped after the auto major said its British unit faced intensifying competition,” said Desai.
Vinod Nair, Head of Research, Geojit Financial Services, said: “The outcome from GST council will decide the trajectory of some sectors like consumer durables, auto ancillaries, infra and building products.
“Weaknesses in global market and rising oil prices may push investors to turn conservative on the broad market,” Nair added.
Sector-wise, the S&P BSE capital goods index zoomed by 343.33 points, followed by banking index, up 286.13 points, and consumer durables index up 274.90 points.
On the other hand, the S&P BSE automobile index declined by 158.79 points, oil and gas index by 113.58 points and healthcare index by 128.88 points.
Provisional data with the exchanges showed that foreign institutional investors sold stocks worth Rs 713.75 crore while domestic institutional investors invested in scrips worth Rs 231.25 crore.
On the currency front, the rupee weakened by 22-23 paise to close at 65.16-17 against the US dollar from its previous close at 64.94.
Major Sensex gainers on Friday were: SBI, up 6.20 per cent at Rs 333.20; LT, up 3.90 per cent at Rs 1,264.05; HUL, up 2.99 per cent at Rs 1,290.75; M&M, up 2.34 per cent at Rs 1,393.40; and ICICI Bank, up 2.25 per cent at Rs 318.60.
Major Sensex losers were: Tata Motors, down 4.01 per cent at Rs 422.65; Reliance Industries, down 2 per cent at Rs 883.50; Tata Motors (DVR), down 1.99 per cent at Rs 241.25; Asian Paints, down 1.57 per cent at Rs 1,176.45; and Sun Pharma, down 1.42 per cent at Rs 527.30.
–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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