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Equity indices inch-up; IT stocks rise (Roundup)
Mumbai, April 23 (IANS) The Indian equity indices witnessed a volatile trade session on Monday and closed on a flat-to-positive note as healthy quarterly results drove investors’ sentiments.
According to market observers, healthy buying was witnessed in healthcare, IT and auto stocks.
However, global cues, profit booking and upcoming derivatives expiry arrested the upward movement of the key indices.
Index-wise, the wider Nifty50 of the National Stock Exchange (NSE) closed higher by 20.65 points or 0.20 per cent at 10,584.70 points.
The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 34,493.69 points, closed at 34,450.77 points — up 35.19 points or 0.10 per cent — from its previous session’s close.
The Sensex touched a high of 34,663.95 points and a low of 34,259.27 during the intra-day trade.
The BSE market breadth was tilted towards the bulls with 1,384 advances and 1,304 declines.
In the broader market segment, the S&P BSE mid-cap index closed higher by 0.49 per cent and the small-cap index inched up by 0.53 per cent.
“It has been a volatile day on the bourses as markets have not been able to hold on to gains, while bears have been unsuccessful in putting a lid on positive sentiment. Benchmark indices opened lower on negative global clues but recovered as the session progressed,” said Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund.
“However, unable to hold onto larger gains, both the benchmarks — Sensex and the Nifty — finally closed the day near the flat line.”
HDFC Securities’ Retail Research Head Deepak Jasani said: “Markets ended with modest gains on Monday after a sell-off from the highs curbed the gains. Selling emerged from the highs of 10,638 points (on Nifty50).
“Trading was volatile ahead of derivative expiry this week,” Jasani told IANS.
On the currency front, the Indian rupee weakened by 35 paise on Monday to 66.48 against the US dollar from its previous close at 66.13.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrip worth Rs 259.08 crore, while the domestic institutional investors purchased stocks worth Rs 387.26 crore.
Sector-wise, the S&P BSE healthcare index rose by 178.18 points, followed by IT which gained 89.92 points and auto stocks which edged up by 83.33 points.
On the other hand, the S&P BSE metal index fell by 133.04 points, FMCG index by 47.57 points and basic materials index by 7.92 points.
In another major market development, IT bellwether Tata Consultancy Services (TCS) on Monday emerged as the first Indian listed company to cross the $100-billion mark in terms of market capitalisation (m-cap).
On closing basis, however, the company’s m-cap stood at Rs 653,767.50 crore or $99.05 billion on the BSE. Share price of the company settled at Rs 3,415.20 each, up 0.26 per cent from the previous close.
The major Sensex gainers on Monday were IndusInd Bank, up 3.40 per cent at Rs 1,875.60; Mahindra and Mahindra, up 2.74 per cent at Rs 822.50; Sun Pharma, up 1.74 per cent at Rs 514.20; Asian Paints, up 1.68 per cent at Rs 1,178.60; and Yes Bank, up 1.49 per cent at Rs 313.05 per share.
The top losers on Sensex were HDFC Bank, down 1.42 per cent at Rs 1,933.05; Tata Motors (DVR), down 1.15 per cent at Rs 188.75; Coal India, down 0.98 per cent at Rs 289.20; Hindustan Unilever, down 0.97 per cent at Rs 1,451.25; and ICICI Bank, down 0.85 per cent at Rs 279.55 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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