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Equity indices end flat; Sensex sets new closing high with marginal gains (Roundup)
Mumbai, July 25 (IANS) Domestic equity indices took a breather on Wednesday to close on a flat note after a largely volatile trade throughout the day. The benchmark BSE Sensex, however, settled at a new closing high of 36,858.23 points, with marginal gains.
Mixed global cues and selling pressure after a largely bullish trend in the past three trading days led the indices to trim gains and end on a flat note, analysts said.
Heavy selling was witnessed in the consumer durables stocks, after they rose in the last two trading sessions boosted by tax-rate cuts on several consumer items on Saturday, they added.
The Sensex also hit a new all-time high of 36,947.18 points during the afternoon session, but could not hold on to the gains.
It closed at 36,858.23 — higher by 33.13 points or 0.09 per cent — from its previous close of 36,825.10 points.
It hit an all-time intra-day high of 36,947.18 points, and touched an intra-day low of 36,803.15 points. It had also opened at a fresh high of 36,928.06 points surpassing the previous record of 36,902.06 points touched on Tuesday.
The wider Nifty50 on the National Stock Exchange closed at 11,132 points, lower by just 2.30 points or 0.02 per cent from its previous close of 11,134.30 points.
“It was a volatile session as the index jumped from positive to negative territory
several times during the day,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
BNP Paribas Mutual Fund’s Senior Fund Manager for Equities, Abhijeet Dey said: “Stock markets opened the day on a positive note but soon pared gains to trade the rest of the day in a narrow range, albeit with a positive bias.”
Globally, trade was cautious ahead of the meeting between the European Commission President, Jean-Claude Juncker, and US President Donald Trump, at the White House, Washington later in the day, he added.
Major Asian markets closed on a mixed note and European indices like FTSE 100 and DAX traded in the red, Jasani told IANS.
On the currency front, the rupee closed at 68.79, appreciating by by 16 paise from the previous close of 68.95 per dollar.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 1,195.75 crore and the domestic institutional investors purchased stocks worth Rs 97.64 crore.
Sector-wise, the S&P BSE metal index gained the most, by 100.21 points, followed by the banking index, up 42.46 points and the finance index rose by 28.10 points.
On the contrary, the S&P BSE auto index fell by 105.79 points, the auto index was down 105.79 and the healthcare index ended lower by 50.95 points from its previous close.
The major gainers on the Sensex were State Bank of India, up 1.78 per cent at Rs 271.45; Adani Ports, up 1.53 per cent at Rs 397.50; Tata Steel, up 1.49 per cent at Rs 534.55; Vedanta, up 1.30 per cent at Rs 218.95; and ONGC, up 1.21 per cent at Rs 159 per share.
The top losers were NTPC, down 4.01 per cent at Rs 150.95; Axis Bank, down 2.59 per cent at Rs 531.85; Power Grid, down 1.29 per cent at Rs 175.65; Bharti Airtel, down 1.28 per cent at Rs 351.85; and Mahindra and Mahindra, down 1.19 per cent at Rs 909.45 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.
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