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Indices close flat after reaching new intra-day highs (Roundup)

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Mumbai, Oct 27 (IANS) A massive bout of profit bookings subdued the key indices of the Indian equities markets to close on a flat note after touching their record new intra-day highs on Friday.

Market observers said that expectations of healthy quarterly results and buying support for the auto and banking stocks had lifted the key indices.

On intra-day record high basis, the barometer 30-scrip Sensitive Index (Sensex) of the BSE touched 33,286.51 points, while broader 50-scrip Nifty at the National Stock Exchange (NSE) reached 10,366.15 points.

The NSE Nifty50 slipped by 21 points or 0.20 per cent to close at 10,323.05 points.

However, the Sensex of the BSE, which opened at 33,228.32 points, closed at 33,157.22 points, higher by 10.09 points or 0.03 per cent from Thursday’s close at 33,147.13 points.

The Sensex had touched an intra-day low of 33,164.42 points-mark.

“Nifty ended lower on Friday as selling pressure emerged in the afternoon session,” said Deepak Jasani, Head – Retail Research, HDFC Securities.

“Major Asian markets have ended on a positive note, barring the Jakarta and Taiwan indices. European indices like FTSE 100, CAC 40 and DAX are traded higher.”

According to Anand James, Chief Market Strategist, Geojit Financial Services: “Domestic indices remained volatile within a narrow range as a mixed bag of corporate numbers and profit booking in PSBs crippled the market’s momentum.”

“However, optimism in pharma and FMCG stocks guarded the key support levels. Small and midcap stocks continued to show strength ahead of MSME’s meeting with the GST council scheduled on Sunday.”

In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 640.95crore, whereas domestic institutional investors (DIIs) invested stocks worth Rs 56.57 crore.

On the currency front, the rupee weakened by 22 paise to close at 65.05 against the US dollar from its previous close at 64.82-83.

Sector-wise, the S&P BSE healthcare index surged by 223.88 points, followed by the automobile index higher by 214.01 points and the consumer durables index augmented by 50.79 points.

On the other hand, the S&P BSE banking index receded by 233.70 points and oil and gas index declined by 191.25 points while the telecom index inched-down by 84.14 points.

Major Sensex gainers on Friday were: Adani Ports and Special Economic Zone, up 4.31 per cent at Rs 431.85; Sun Pharma, up 3.65 per cent at Rs 550.35; ONGC, up 3.53 per cent at Rs 183.55; Tata Motors DVR, up 3.10 per cent at Rs 237.70; and Tata Motors, up 2.55 per cent at Rs 430.05.

Major Sensex losers were: Bharti Airtel, down 4.98 per cent at Rs 485.10; State Bank of India, down 3.03 per cent at Rs 310.95; Reliance Industries, down 1.88 per cent at Rs 929.45; Wipro, down 1.74 per cent at Rs 296.60; and NTPC, down 1.19 per cent at Rs 182.45.

–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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