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Profit booking subdues equity indices (Roundup)
Mumbai, Jan 2 (IANS) The key indices of the Indian equity market closed Tuesday’s trade session on a flat note after volatility was induced due to caution ahead of upcoming quarterly earning results, and profit booking.
Market analysts observed that heavy selling pressure in healthcare, capital goods and oil and gas stocks pared the initial gains made on the back of positive Asian markets.
Consequently, the 30-scrip S&P BSE Sensex, which had ended Monday’s session at 33,812.75 points, closed flat at 33,812.26 points.
Similarly, the National Stock Exchange’s (NSE) Nifty50 closed on a flat note at 10,442.20 points, up by a mere 6.65 points or 0.06 per cent.
“Markets ended with marginal gains after a volatile session that saw the bulls and bears trying to dominate the session alternately,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
“Broad market indices like the BSE Mid Cap and Small Cap fell more, thereby underperforming the main indices. Major Asian markets have closed on a positive note.”
According to Vinod Nair, Head of Research with Geojit Financial Services: “Market remained subdued despite positive momentum in Asian market amid concern on introduction of long term capital gain tax and ahead of Q3 earnings season.”
“The start for the year has been shaky and cautious as markets wait quarter results and all eyes on the Budget due on 1st February,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
On the currency front, the Indian rupee strengthened by 20 paise to close at 63.48 against the US dollar from its previous close at 63.68.
Provisional data with the exchanges showed that foreign institutional investors purchased scrips worth Rs 522.74 crore while domestic institutional investors bought stocks worth Rs 64.70 crore.
Sectorwise, the S&P BSE healthcare index fell by 107.64 points, capital goods index by 98.25 points and oil and gas index by 69.94 points.
On the other hand, S&P BSE metal index rose by 94.22 points, followed by automobile index by 23.05 points and power index by 7.73 points.
Major Sensex gainers on Tuesday were: Tata Motors DVR, up 4.24 per cent at Rs 252.95; Tata Motors, up 3.16 per cent at Rs 438.85; ONGC, up 2.36 per cent at Rs 196.95; Coal India, up 1.46 per cent at Rs 270.35; and NTPC, up 1.33 per cent at Rs 178.75.
Major Sensex losers were: Bharti Airtel, down 2.24 per cent at Rs 516.30; State Bank of India, down 1.35 per cent at Rs 302.90; Maruti Suzuki, down 1.24 per cent at Rs 9,545.15; Larsen and Toubro, down 1.01 per cent at Rs 1,249.10; and Axis Bank, down 0.91 per cent at Rs 559.70.
–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.