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Global cues, banking stocks lift equity indices (Roundup)
Mumbai, April 26 (IANS) Amid volatility on derivatives expiry, the key Indian equity indices on Thursday closed with appreciable gains as broadly positive global markets, along with healthy quarterly results and value buying, boosted investors’ sentiments.
According to market observers, the benchmark indices edged higher towards the closing hour of trade on the back of healthy buying in banking, IT and fast moving consumer goods (FMCG) stocks.
Index-wise, the wider Nifty50 of the National Stock Exchange (NSE) closed higher by 47.25 points or 0.45 per cent at 10,617.80 points.
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE made gains on Thursday. It opened at 34,532.95 points, closed at 34,713.60 points — up 212.33 points or 0.62 per cent — from its previous session’s close.
The Sensex touched a high of 34,747.97 points and a low of 34,505.62 points during the intra-day trade.
However, the BSE market breadth was bearish with 1,539 declines and 1,094 advances. On the NSE, too, the market breadth was bearish.
In the broader markets, the S&P BSE mid-cap index closed lower by 0.02 per cent, whereas the small-cap index rose by 0.25 per cent.
“Markets surged higher on Thursday as buying emerged in the last half an hour of trade on the back of the derivatives expiry of the April 2018 series,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
“The session was slightly volatile as traders rolled over F&O (futures and options) positions from the near month April 2018 series to May 2018 series.”
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market remained rangebound during most part of the day due to F&O expiry, but better results from banks and improving sentiment on IT stocks lifted the index.”
“Continued outflow of foreign money and surging oil prices added pressure on rupee and inflation trajectory,” he added.
On the currency front, the Indian rupee strengthened by 15 paise to 66.76 against the US dollar from its previous close at 66.91.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 1,056.34 crore, while the domestic institutional investors purchased stocks worth Rs 684.11 crore.
Sector-wise, the S&P BSE banking index surged by 237.74 points, followed by the IT index by 156.90 points and FMCG index by 137.25 points.
On the other hand, the S&P BSE capital goods index fell by 96.72 points, the telecom index by 34.25 points and the healthcare index by 21.14 points.
The major gainers on the Sensex were Yes Bank, up 8.26 per cent at Rs 352.05; Hindustan Unilever, up 2.17 per cent at Rs 1,491.25; Tata Consultancy Services (TCS), up 2.09 per cent at Rs 3,540.35; IndusInd Bank, up 1.62 per cent at Rs 1,879.45; and ITC, up 1.61 per cent at Rs 278.30 per share.
The top losers were Bharti Airtel, down 2.61 per cent at Rs 408.85; Dr. Reddy’s Lab, down 2.09 per cent at Rs 2,080.40; Wipro, down 2.00 per cent at Rs 281.45; State Bank of India, down 1.71 per cent at Rs 233.35; and Tata Steel, down 1.22 per cent at Rs 579.05 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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