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Global cues, hopes of healthy macro data lift equity indices (Roundup)
Mumbai, June 12 (IANS) Global cues and expectations of a healthy macro-economic industrial production data aided the key Indian equity indices to close Tuesday’s trade session on a positive note.
In terms of global cues, market analysts cited the historic meet between US President Donald Trump and North Korean leader Kim Jong-un as a major sentiment booster for investors.
In addition, expectations of a healthy industrial production data for April also enhanced investors’ risk-taking appetite and led to a pick-up in healthcare, capital goods and banking stocks.
However, caution over a possible rise in retail inflation levels due to higher crude oil prices capped gains.
Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,842.85 points — up by 55.90 points or 0.52 per cent — from its previous close of 10,786.95 points.
Similarly, the barometer 30-scrip Sensitive Index (Sensex), which had opened at 35,525.30 points, ended in the green. It settled at 35,692.52 points — higher by 209.05 points or 0.59 per cent — from its previous session’s close of 35,483.47 points.
The Sensex touched a high of 35,743.08 points and a low of 35,479.07 points during the intra-day trade. The BSE market breadth was bullish with 1,440 advances and 1,224 declines.
“Markets rallied strongly on Tuesday on buying in index heavyweights. Sentiments were boosted after Trump and Kim Jong Un signed an unspecified document in Singapore,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Geojit Financial Services’ Head of Research Vinod Nair said: “Market edged higher supported by positive outcome from US-N.Korea summit which may lead to an end of conflicts in Korean peninsula.
“However, global market remains mixed ahead of US Fed, ECB (European Central Bank) and BoJ (Bank of Japan) policy meeting during the week.”
On the currency front, the Indian rupee weakened by seven paise against the US dollar to 67.49, from its previous close at 67.42.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 1,168.88 crore while the domestic institutional investors bought stocks worth Rs 1,327.45 crore.
Sector-wise, the S&P BSE healthcare index gained 262.17 points, the capital goods index rose by 220.78 points and the banking index ended 204.94 points higher.
On the other hand, S&P BSE metal index was down by 76.85 points, followed by the basic materials and the telecom indices which were marginally down, by 9.24 points and 3.75 points respectively.
The major gainers on the Sensex were Dr Reddy’s Lab, up 5.23 per cent at Rs 2,190.25; State Bank of India, up 3.36 per cent at Rs 282.85; Hindustan Unilever, up 2.41 per cent at Rs 1,640.45; IndusInd Bank, up 2.41 per cent at Rs 1,950.45; and Hero MotoCorp, up 2.11 per cent at Rs 3,688.75 per share.
The top losers were Bharti Airtel, down 1.98 per cent at Rs 381.05; Tata Steel, down 1.52 per cent at Rs 579.80; Coal India, down 1.49 per cent at Rs 283.50, ONGC, down 1.10 per cent at Rs 171.35 and Yes Bank, down 0.98 per cent at Rs 332.40 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.