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Mixed global cues, sell-off suppress equity indices (Roundup)
Mumbai, March 15 (IANS) Mixed sentiment observed in the global markets, along with a sell-off in all the sectors, led the key Indian equity indices to end Thursday’s volatile trade session in the red.
The wider Nifty50 of the National Stock Exchange (NSE) fell by 50.75 points or 0.49 per cent to close trade at 10,360.15 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,685.54 points — down 150.20 points or 0.44 per cent from the previous session’s close.
The Sensex dropped almost 200 points to touch a low of 33,637.28 points during the intra-day trade.
The BSE market breadth was, however, bullish with 1,636 advances and 1,053 declines.
“Nifty ended with losses for the second consecutive session led by early weakness in Asian markets. Sectorally, there were no top gainers on the NSE. Top losers were media, PSU banks, FMCG and pharma indices,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
In terms of the broader markets, the S&P BSE mid-cap index edged up by 0.49 per cent and the small-cap index by 0.80 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market continued to consolidate in a narrow range following mixed trend in global market. Mid and small-cap outperformed as investors started accumulating stock in the oversold levels.”
“World Bank prediction of 7.3 per cent growth in FY19 will give a positive long term sentiment, but global trade concerns and scepticism on upcoming state election will refrain market for a decisive up move,” he added.
On the currency front, the Indian rupee weakened by 11 paise to close at 64.94 against the US dollar from its previous close at 64.83.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 705.40 crore, while domestic institutional investors bought stocks worth Rs 256.45 crore.
Sectorwise, the S&P BSE oil and gas index declined by 160.91 points, followed by banking index by 137.85 points and metal index by 77.21 points.
On the other hand, the S&P BSE consumer discretionary goods and services index was up a mere 12.73 points, industrials index by 7.98 points and power index by 3.02 points.
Major Sensex gainers on Thursday were: Asian Paints, up 2.14 per cent at Rs 1,160.95; Mahindra and Mahindra, up 0.87 per cent at Rs 735.05; HDFC Bank, up 0.79 per cent at Rs 1,880.10; Coal India, up 0.66 per cent at Rs 295.50; and IndusInd Bank, up 0.52 per cent at Rs 1,742.35.
The Sensex losers were: Yes Bank, down 2.04 per cent at Rs 312.40; Reliance Industries, down 1.76 per cent at Rs 912.25; ICICI Bank, down 1.60 per cent at Rs 301.45; Hindustan Unilever, down 1.48 per cent at Rs 1,297.40; and Tata Steel, down 1.46 per cent at Rs 611.40.
–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.