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Sensex climbs 33k-points level, PSB stocks zoom (Third Lead)

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Mumbai, Oct 25 (IANS) The key Indian equity indices — S&P BSE Sensex and NSE Nifty 50 — breached their intra-day and closing record highs on Wednesday, a day after the government announced its plan to recapitalise pubic sector banks (PSB) and boost the overall infrastructure spend.

On intra-day record high basis, the barometer 30-scrip Sensitive Index (Sensex) of the BSE touched 33,117.33 points, while broader 50-scrip Nifty at the National Stock Exchange (NSE) reached 10,340.55-points.

Besides new intra-day highs, the S&P BSE Sensex which opened at 32,995.28 points, closed at a new high of 33,042.50 points, up 435.16 points or 1.33 per cent from its previous day’s close at 32,607.34 points.

The index had slipped to a low of 32,804.60 points during the trade session.

Similarly, the NSE Nifty 50 closed at a new high of 10,295.35 points, up 0.86 per cent or 87.65 points.

According to market observers, an exponential rise in scrip of PSBs, a day after the government announced a massive recapitilsation scheme lifted the key indices.

“Markets zoomed higher on Wednesday to close at new life highs. The index had opened on a strong note in the morning session on the back of positive sentiments due to various measures taken by the government to spur economy including capitalisation of public sector banks and a massive road building program,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

“It corrected a bit early in the morning but later resumed the uptrend closing near the intra day highs. The Sensex settled above the psychologically important 33,000 level for the first time in history.”

Even global cues supported the Indian indices as major Asian and European markets ended on a positive note, barring the Nikkei index.

However, the day’s trade session belonged to the PSBs and other largecap stocks.

Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS: “Almost all PSBs’ stocks like those of SBI, BoB and PNB rose to touch their new 52-week highs during the intra-day trade.”

“The rise in PSB stocks not only lifted the sectoral index but also the benchmark indices — BSE Sensex and NSE Nifty — to touch their all time highs during the intra-day trade.”

“SBI was the top percentage gainer in the NSE Nifty, surging as much as 27 per cent to its highest since January 2015. L&T was the third-largest gainer in the index as it rose as much as 6.3 per cent.”

–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

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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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