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Global cues, banking stocks lift equity indices to record levels (Roundup)
Mumbai, Aug 6 (IANS) Broadly positive global cues along with healthy buying in banking stocks helped the key Indian equity indices to set fresh benchmarks on Monday.
Before settling at record closing levels, both S&P BSE Sensex and the NSE Nifty50 had touched their all-time intra-day highs of 37,805.25 points and 11,427.65 points respectively.
However, weakness in the Indian rupee limited the gains in the market, analysts said.
Index-wise, the wider Nifty50 on the National Stock Exchange closed 11,387.10 points, higher by 26.30 points or 0.23 per cent from its previous close.
The BSE Sensex, which had opened at 37,714.70 points, closed at 37,691.89 points — higher by 135.73 points or 0.36 per cent — from its previous close of 37,556.16 points. It touched an intra-day low of 37,643.29 points.
In the broader markets, the S&P BSE mid-cap rose by 0.26 points and the S&P BSE small-cap ended 0.39 per cent from its previous close. The BSE market breadth was bullish with 1,591 advances against 1,145 declines.
“Markets in India saw a gap-up opening on positive Asian stocks and traded firm through the day,” said Abhijeet Dey, Senior Fund Manager for Equities at BNP Paribas Mutual Fund.
On the currency front, the rupee closed at 68.89, weakened by 28 paise from the previous close of 68.61 per dollar.
Investment-wise, provisional data with exchanges showed that foreign institutional investors bought scrip worth Rs 248.70 crore and the domestic institutional investors purchased stocks worth Rs 218.64 crore.
Sector-wise, the S&P BSE banking index rose by 344.18 points, the auto index was up 99.70 points and the metal index ended higher by 98.65 points.
On the contrary, the S&P BSE healthcare declined by 61.39 points, followed by the FMCG index which was down 41.32 points and the IT index which ended lower by 34.37 points.
The major gainers on the Sensex were Axis Bank, up 3.86 per cent at Rs 596.50; ICICI Bank, up 3.36 per cent at Rs 315.05; State Bank of India, up 3.33 per cent at Rs 308.55; Bharti Airtel, up 3.07 per cent at Rs 386.20; and Hero MotoCorp, up 1.57 per cent from Rs 3,296.95 per share.
The major losers were Kotak Mahindra Bank, down 2.05 per cent at Rs 1,282.35; Hindustan Unilever, down 1.65 per cent at Rs 1,730.50; Sun Pharma, up 1.58 per cent at Rs 575.60; Tata Motors, down 1.57 per cent at Rs 254.70; and Tata Motors (DVR), down 1.37 per cent at Rs 140.70 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.