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Global cues, fund outflows depress investors; equity indices end flat (Roundup)
Mumbai, June 15 (IANS) Broadly negative global cues on trade and monetary policy issues along with the continuous outflow of foreign funds and a weak rupee led the key Indian equity indices to close on a flat-to-positive note on Friday.
Even though, the day’s trade commenced with a “gap-up opening”, heavy selling pressure in metal, banking and capital goods stocks depressed the trajectory of both the NSE Nifty50 and the S&P BSE Sensex.
However, a last hour buying spree in IT and healthcare counters aided the indices to pare their losses and close on a flat-to-positive note.
Index-wise, the wider Nifty50 of the National Stock Exchange (NSE) closed at 10,817.70 points, up 9.65 points or 0.09 per cent from the previous close of 10,808.05 points.
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had opened at 35,656.26 points, closed at 35,622.14 points — higher by 22.32 points or 0.06 per cent — from its previous session’s close of 35,599.82 points.
The Sensex touched a high of 35,675.20 points and a low of 35,419.68 points during the intra-day trade.
In the broader markets, the S&P BSE mid-cap ended 0.40 per cent lower, while the S&P BSE small cap index fell 0.46 per cent. The BSE market breadth was bearish with 1,562 declines and 1,083 advances.
“After a small range trade in the morning, indices hit fresh intra-day low in afternoon trade as selling pressure intensified. A late recovery resulted in pushing the key equity indices to positive zone,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Jasani added: “Major Asian markets have closed on a mixed note. European indices like FTSE 100 and DAX traded in the red.”
On the currency front, the Indian rupee weakened by 39 paise against the US dollar to 68.02, from its previous close of 67.63 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 1,524.74 crore while the domestic institutional investors bought stocks worth Rs 561.01 crore.
Sector-wise, the S&P BSE IT index gained the most, by 305.77 points, followed by the healthcare index which rose by 263.49 points and the Teck (technology, entertainment and media) index, which ended higher by 128.91 points respectively.
On the other hand, S&P BSE metal index fell by 208.78 points, the banking index was down 193.45 points and the capital goods index ended lower by 191.96 points.
The major gainers on the Sensex were Dr Reddy’s Labs, up 3.65 per cent at Rs 2,351.10; Infosys, up 3.37 per cent at Rs 1,280.45; Tata Consultancy Services, up 2.75 per cent at Rs 1,841.45; Sun Pharma, up 2.04 per cent at Rs 571.05; and Reliance Industries, up 0.63 per cent at Rs 1,013.85 per share.
The top losers were Yes Bank, down 1.91 per cent at Rs 330.55; State Bank of India, down 1.82 per cent at Rs 277.55; ONGC, down 1.81 per cent at Rs 165.45, Coal India, down 1.59 per cent at Rs 279.05; and Tata Motors (DVR), down 1.56 per cent at Rs 180.05 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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