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Healthcare stocks, strong rupee lift equity indices (Roundup)
Mumbai, Nov 21 (IANS) Continuing with gains for the fourth consecutive session, key Indian equity indices on Tuesday closed on a higher note due to strong buying witnessed in stocks of healthcare majors like Dr. Reddy’s Lab, Sun Pharma, Cipla and Lupin, as well as a strong rupee.
According to market observers, some gains were capped as investors booked profits in banking and realty stocks.
On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) rose by 28.15 points or 0.27 per cent to 10,326.90 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,478.35 points — up 118.45 points or 0.36 per cent — from Monday’s close.
The BSE market breadth was bullish — 1,455 advances and 1,243 declines.
“Markets ended with marginal gains on Tuesday. A sell-off from the highs in the afternoon session curbed the gains — nevertheless it was the fourth consecutive session of gains for the Nifty,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
“Major Asian markets ended on a positive note, barring the Jakarta index, while European indices like FTSE 100, CAC 40 and DAX traded higher,” Jasani said, adding: “Technically, with the Nifty moving up further after the smart bounce back seen late last week, the underlying bias remains positive.”
In terms of the broader markets, the BSE mid-cap closed higher by 0.10 per cent and the small-cap index by 0.37 per cent.
On the currency front, the rupee strengthened by 22 paise to 64.89 against the US dollar from its previous close at 65.11.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Positive vibes in select pharma stocks lifted the key index, which was also supported by favourable cues in Asian markets.”
“However, profit booking was visible in specific stocks and mid-caps across banking and realty.”
Sector-wise, the S&P BSE consumer durables index surged by 404.07 points, followed by healthcare index by 241.83 points and oil and gas index by 132.55 points.
On the other hand, the S&P BSE realty index fell by 32.23 points, FMCG index by 17.38 points and banking index by 13.94 points.
Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 727.01 crore, while domestic institutional investors purchased scrips worth Rs 825.50 crore.
Major Sensex gainers on Tuesday were: Dr. Reddy’s Lab, up 4.99 per cent at Rs 2,390.85; Sun Pharma, up 4.18 per cent at Rs 538.05; Cipla, up 2.31 per cent at Rs 616.50; Bharti Airtel, up 2.13 per cent at Rs 503.15; and NTPC, up 1.61 per cent at Rs 183.05.
Major Sensex losers were: Coal India, down 1.51 per cent at Rs 274.05; ITC, down 1.08 per cent at Rs 256.30; Power Grid, down 1.03 per cent at Rs 206.80; Tata Consultancy Services, down 1.02 per cent at Rs 2,677.10; and Kotak Bank, down 0.77 per cent at Rs 1,029.45.
–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
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.