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Healthy macro data, prediction of monsoon recovery lift equity indices (Roundup)

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Mumbai, Aug 3 (IANS) The key Indian equity indices — S&P BSE Sensex and NSE Nifty50 — rose over 1 per cent each on Friday supported by a healthy macro economic data and prediction of recovery in monsoon rains.

Market observers cited broadly positive global indices coupled with lower crude oil prices as other factors which buoyed investor sentiments.

On Friday, the Nikkei India Services Business Activity Index showed an exponential rise in the rate of output growth during July.

Index-wise, the wider Nifty50 on the National Stock Exchange (NSE) closed at 11,360.80 points, higher by 116.10 points or 1.03 per cent from the previous close of 11,244.70 points.

The benchmark BSE Sensex, which had opened at 37,327.16 points, closed at 37,556.16 points, 391 points or 1.05 per cent higher from the previous close of 37,165.16 points.

On an intra-day basis, it touched a high of 37,582.27 points and a low of 37,319.61 points. The BSE market breadth was bullish with 1,768 advances and 937 declines.

“Stock markets in India traded the day on a positive note as upbeat macro-economic developments gave a fillip to investor sentiment,” said Abhijeet Dey, Senior Fund Manager for Equities, BNP Paribas Mutual Fund.

According to Deepak Jasani, Head of retail research at HDFC securities sentiments were also boosted after the weather department’s forecast of recovery in monsoon in August and September.

On the currency front, the rupee closed at 68.61, strengthened by 10 paise from the previous close of 68.71 per dollar.

Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 5.87 crore and the domestic institutional investors bought stocks worth Rs 87.08 crore.

Sector-wise, all the indices traded on a positive note on Friday with the S&P BSE banking gaining the most, by 502.75 points. It was followed the consumer durables index which rose 320.27 points and the metal index which ended 188.60 points higher from its previous close.

The major gainers on the Sensex were Axis Bank, up 5.17 per cent at Rs 574.35; Vedanta, up 3.60 per cent at Rs 221.85; Yes Bank, up 2.96 per cent at Rs 372.45; ICICI Bank, up 2.33 per cent at Rs 304.80; Kotak Mahindra Bank, up 2.20 per cent from Rs 1,309.20 per share.

The major losers were Tata Motors, down 0.84 per cent at Rs 258.75; Tata Motors (DVR), down 0.80 per cent at Rs 142.65; Hero MotoCorp, up 0.63 per cent at Rs 3,246.10; Asian Paints, down 0.50 per cent at Rs 1,411.35; and HDFC Bank, down 0.39 per cent at Rs 2,121 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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