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IT, bank stocks lift equity indices (Roundup)
Mumbai, April 12 (IANS) Extending gains for the sixth consecutive session, the key Indian equity indices on Thursday closed with appreciable gains riding on healthy buying in IT, Teck (technology, media and entertainment) and banking stocks.
However, selling pressure in metal, healthcare and realty stocks, along with negative cues from global peers and higher crude oil prices, limited the gains.
According to market observers, some caution prevailed ahead of the release of macro-economic data, such as the Index of Industrial Production and the Consumer Price Index later in the evening.
On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) edged higher by 41.50 points or 0.40 per cent to 10,458.65 points.
The barometer 30-scrip Sensex of the BSE closed at 34,101.13 points — up 160.69 points or 0.47 per cent from its previous session’s close.
The BSE market breadth remained bearish with 1,519 declines and 1,142 advances.
“Markets surged higher on Thursday as the Nifty broke out of a two-day trading range ahead of industrial production data (IIP) and inflation data scheduled to be released in the evening. It was the sixth consecutive session of gains for the Nifty,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Sectorally, top gainers were the IT and Bank Nifty indices. The top losers were realty, metals, PSU banks and pharma indices,” he added.
On the currency front, the rupee strengthened by six paise to end at 65.26 against the US dollar.
Commenting on the global front, Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said: “Asian markets were under pressure as the threat of imminent US military action in Syria rattled investors and sent oil prices to their highest levels since late 2014 on concerns about supply.”
In terms of investments, provisional data with the exchanges showed that foreign institutional investors bought scrips worth Rs 368.90 crore, while the domestic institutional investors sold stocks worth Rs 615.81 crore.
Sector-wise, the S&P BSE IT index gained the most — up 391.52 points — followed by Teck index, which rose by 164 points and banking index by 99.39 points.
The S&P BSE metal index fell by 199.19 points, healthcare index by 99.40 points and realty index by 42.08 points.
Major Sensex gainers on Thursday were: Tata Consultancy Services, up 4.04 per cent at Rs 3,137.30; Infosys, up 3.41 per cent at Rs 1,162.25; Axis Bank, up 1.63 per cent at Rs 548.30; ICICI Bank, up 0.83 per cent at Rs 286.45; and HDFC, up 0.81 per cent at Rs 1,828.40 per share.
Top losers on the Sensex were : Dr. Reddy’s Lab, down 1.97 per cent at Rs 2,058.80; Tata Steel, down 1.51 per cent at Rs 598.55; Adani Ports, down 1.50 per cent at Rs 372.05; State Bank of India, down 1.17 per cent at Rs 254.30; and Bharti Airtel, down 1.16 per cent at Rs 380.10 per share.
–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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