Top News
Global cues, sell-off in banking stocks subdue equities for 6th day (Roundup)
Mumbai, March 7 (IANS) Heavy selling pressure in banking, capital goods and healthcare stocks, as also negative cues from Asian and European markets, dragged the key Indian equity indices lower for the sixth straight session on Wednesday.
The wider Nifty50 of the National Stock Exchange (NSE) receded by 95.05 points, or 0.93 per cent, to close at 10,154.20 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,033.09 points — down 284.11 points, or 0.85 per cent, from its previous session’s close.
The BSE market breadth was remarkably bearish with 2,290 declines and 460 advances.
According to market observers, recent developments in the banking sector added to the downward trajectory of the key indices.
The S&P BSE banking index plunged by 381.31 points or 1.38 per cent, dragged by banking heavyweights like the Punjab National Bank (down 2.25 per cent), State Bank of India (SBI) (down 3.84 per cent), ICICI Bank (down 2.85 per cent) and Bank of Baroda (down 1.85 per cent).
“Markets corrected further on Wednesday — it was the sixth consecutive session of negative closing for the Nifty. The weakness came on the back of weak global cues and concerns over the health of Indian banking sector on the back of recent events,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Metal and mining stocks too were under pressure on worries over import tariffs announced on steel and aluminum in the US. Sectorally, the top gainer was the FMCG index,” Jasani added.
On the currency front, the Indian rupee closed at 64.89 against the US dollar.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 719.78 crore, while domestic institutional investors purchased stocks worth Rs 409.34 crore.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Weak global cues due to escalating trade war concern and widening probe in PSU banks led the domestic market to underperform.”
“Consolidation in bond yield and ease in global market volatility is likely to provide some leeway to the current negative sentiment,” Nair added.
Sectorwise, the S&P BSE banking index plummeted by 381.31 points, capital goods index by 361.47 points and healthcare index by 224.84 points.
On the other hand, the S&P consumer durables index rose by 77.13 points and the FMCG index by 9.17 points.
Major Sensex gainers on Wednesday were: ITC, up 1.05 per cent at Rs 259.20; Maruti Suzuki, up 0.70 per cent at Rs 8,679; Asian Paints, up 0.47 per cent at Rs 1,107.95; Tata Motors, up 0.40 per cent at Rs 348; and Bajaj Auto, up 0.36 per cent at Rs 2,910.45.
The Sensex losers were: Adani Ports, down 6.53 per cent at Rs 377.45; SBI, down 3.84 per cent at Rs 246.65; ICICI Bank, down 2.85 per cent at Rs 286.70; Bharti Airtel, down 2.53 per cent at Rs 403.40; and ONGC, down 2.32 per cent at Rs 180.95.
–IANS
ppg/vm
Top News
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.
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
Cheers and Cheers: Barzilla’s Joyful Ode to Inclusivity and Celebration
Casino Days Reveal Internal Data on Most Popular Smartphones
Meghalaya Reserves Legalized Gambling and Sports Betting for Tourists
IPL 20202 UPDATE: KXIP vs MI IPL Dream11 Team Prediction for Today Match, Update Point Table of all Team.
In a Live debate AAP leader Syed Asad Abbas hurls abuses to BJP spokesperson Nupur Sharma.
‘India’s Most Wanted’ trailer out Arjun Kapoor on hunt of Osama-Bin-Laden
Time to move on: Sonakshi on Shatrughan’s joining Congress
