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Easing oil prices, approaching monsoon lift equity indices (Roundup)
Mumbai, May 28 (IANS) The expected arrival on time of the southwest monsoon over India’s mainland as well as a fall in global crude oil prices lifted the key domestic equity indices for the third consecutive session on Monday.
According to market analysts, the rebound in rupee strength and healthy buying by domestic investors also supported the key indices.
Index-wise, the wider 50-scrip Nifty of the National Stock Exchange (NSE) closed at 10,688.65 points — up 83.50 points or 0.79 per cent — from the previous close of 10,605.15 points.
Similarly, the 30-scrip Sensitive Index (Sensex) of the BSE settled the day’s trade with gains. It opened at 35,074.32 points and closed at 35,165.48 points, higher by 240.61 points or 0.69 per cent from the previous close of 34,924.87 points.
During the intra-day trade, the Sensex touched a high of 35,240.96 points and a low of 35,006.50 points.
In the broader markets, the S&P BSE mid-cap index rose 1.35 per cent while the S&P BSE small-cap index ended 1.60 per cent higher. The BSE market breadth was bullish with 1,843 advances so far against 848 declines.
“Investor sentiments were boosted by a decline in crude oil prices and appreciation in the value of rupee, which will be positive for India’s macros,” Deepak Jasani, Head of Retail Research at HDFC Securities told IANS.
Geojit Financial Services’ Head of Research, Vinod Nair said: “Additionally, market optimism may increase as monsoon is about to hit the southern peninsula which will support the consumption led story and rural economy.”
Further, on the currency front, the Indian rupee strengthened by 34 paise against the US dollar to 67.44, from its previous close at 67.78 per greenback.
Besides, provisional data with exchanges showed that foreign institutional investors sold scrips worth Rs 795.06 crore, while the domestic institutional investors bought stocks worth Rs 1,017.65 crore.
Sector-wise, the S&P BSE capital goods index surged by 464.66 points, the banking index rose by 350.03 points and the oil and gas index gained by 344.68 points.
On the other hand, the S&P BSE IT and Teck indices were the losers with decline of 233.52 points and 93.55 points respectively.
The major gainers on the Sensex were Sun Pharma, up 7.11 per cent at Rs 499.70; Coal India, up 3.22 per cent at Rs 284.95; Larsen and Toubro, up 2.52 per cent at Rs 1,377.60; Asian Paints, up 2.31 per cent at Rs 1,319.50; and State Bank of India, up 1.97 per cent at Rs 272.25 per share.
The top losers were Tata Consultancy Services, down 2.39 per cent at Rs 3,503.80; PowerGrid, down 2.31 per cent at Rs 207.05; Infosys, down 1.16 per cent at Rs 1,214.50; Mahindra and Mahindra, down 0.90 per cent at Rs 849.60; and Bharti Airtel, down 0.65 per cent at Rs 374.20 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.