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Banking, healthcare stocks, strong rupee lift equity indices (Roundup)
Mumbai, June 22 (IANS) Healthy buying in banking, healthcare and auto stocks during the late-afternoon session lifted the key equity indices after a largely choppy trade on Friday.
The domestic indices, however, had opened on a negative note tracking weak Asian markets and the ongoing global trade war concerns.
Broadly positive European markets along with an appreciation in the Indian rupee and value buying by investors also supported the Indian indices late in the day, analysts said.
Index-wise, the wider Nifty50 of the National Stock Exchange (NSE) closed at 10,821.85 points, up 80.75 points or 0.75 per cent from the previous close of 10,741.10 points.
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had opened at 35,428.42 points, closed at 35,689.60 points — up 257.21 points or 0.73 per cent — from its previous session’s close of 35,432.39 points.
The Sensex touched an intra-day high of 35,741.26 and a low of 35,344.49 points.
In the broader markets, the S&P BSE mid-cap closed 0.46 per cent higher while the the small-cap rose marginally by 0.07 per cent. The BSE market breadth, however, was bearish with 1,436 declines and 1,134 advances.
“Markets rallied smartly on Friday after a shaky opening. The Nifty50 found support at the 10,710 levels in the morning session and rallied through the day,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Although, major Asian markets closed on a mixed note, European indices like FTSE
100, CAC 40 and DAX traded in the green, Jasani told IANS.
According to BNP Paribas Mutual Fund’s Senior Fund Manager for Equities, Abhijeet Dey, domestic stock markets ended the week on a buoyant note, despite edging lower in early trade as markets recouped losses by afternoon on bargain buying at lower levels.
“While trade tensions between the US and China continued to influence investor sentiment, expectations that an ongoing meeting of OPEC and major oil producers could result in an expansion of crude production, had a positive impact on domestic investors,” he added.
On the currency front, the Indian rupee appreciated by 15 paise against the US dollar to 67.84, from its previous close of 67.99 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 1,343.44 crore while the domestic institutional investors bought stocks worth Rs 1,105.76 crore.
Sector-wise, the S&P BSE banking index gained the most, by 300.24 points, followed by the healthcare index which rose by 184.90 points and the auto index ended 119.70 points higher from its previous close.
On the other hand, S&P BSE oil and gas fell by 59.23 points, the energy was down 53.26 points and the IT index fell marginally, by 8.05 points.
Stock-wise, the major gainers on the Sensex were Sun Pharma, up 3.91 per cent at Rs 576.30; Mahindra and Mahindra (M&M), up 2.87 per cent at Rs 909; HDFC, up 2.54 per cent at Rs 1,902.40; Axis Bank, up 2.22 per cent at Rs 524.65; and State Bank of India, up 1.69 per cent at Rs 273.25 per share.
The top losers were Reliance Industries, down 1.94 per cent at Rs 1,012.30; Coal India, down 0.99 per cent at Rs 265.10; Tata Consultancy Services, down 0.44 per cent at Rs 1,811.80, Wipro, down 0.41 per cent at Rs 257.95; and Adani Ports, down 0.23 per cent at Rs 366 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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