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Tepid global cues keep equity indices flat; TCS shares rise 5.5% (Roundup)

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Mumbai, July 11 (IANS) Amid volatility, the key Indian equity indices settled flat on Wednesday tracking weak global cues.

In the global markets, investor sentiments were weighed down by the ongoing trade tensions between the US and China, analysts said. Further eroding investors’ confidence globally, the US on Wednesday ramped up its trade war with China, by listing $200 billion worth of additional products it plans to place under additional tariffs as soon as September.

Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,948.30 points — up by just 1.05 points or 0.01 per cent — from its previous close of 10,947.25 points.

Similarly, the barometer 30-scrip Sensex on the BSE, which had opened at 36,299.26 points closed with minor gains. It closed the day’s trade at 36,265.93 points — up by 26.31 points or 0.07 per cent — from its previous session’s close of 36,239.62 points.

The Sensex touched a high of 36,362.30 points and a low of 36,169.70 points during the intra-day trade.

In the broader markets, the S&P BSE mid-cap ended 0.67 per cent lower while the S&P BSE small cap fell by 0.33 per cent from its previous close. The BSE market breadth was bearish with 1,581 declines against 1,045 advances.

“Escalating trade tensions brought some caution into the markets,” said Deepak Jasani, Head of Retail Research at HDFC Securities.

After witnessing a sharp upward movement in the last couple of sessions, the Nifty50 and Sensex shifted into a consolidation on Wednesday and closed the day on a flat note, he added.

On the currency front, the rupee strengthened by five paise to end at 68.78 per dollar, against the previous close of 68.83 per greenback.

Investment-wise, provisional data with exchanges showed that foreign institutional investors bought scrip worth Rs 636.27 crore while the domestic institutional investors bought stocks worth Rs 15.33 crore.

Sector-wise, the S&P BSE IT index gained the most, by 335.43 points, followed by the Teck (technology, media and entertainment) index which was up 140.34 points and the FMCG index which rose by 49.83 points.

On the contrary, the S&P BSE metal index slumped 401.87 points, the auto index fell 249.56 points and the banking index was down 143.98 points.

Scrip-wise, Tata Consultancy Service ended at Rs 1,979.60 per share on the BSE, up 5.47 per cent from its previous close on the back of its robust April-June earnings reported on Tuesday.

The other major gainers on the Sensex were Bajaj Auto, up 2.11 per cent at Rs 3,154.35; Hindustan Unilever, up 1.59 per cent at Rs 1,714.10; Infosys, up 1.37 per cent at Rs 1,320.35; and Reliance Industries, up 1.03 per cent at Rs 1,036.35 per share.

The top losers were Coal India, down 4.59 per cent at Rs 265.25; Vedanta, down 3.52 per cent at Rs 218; Tata Motors, down 2.74 per cent at Rs 267.85; Tata Steel, down 2.24 per cent at Rs 555.85; and Tata Motors (DVR), down 2.18 per cent at Rs 154.90 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

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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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