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Global cues, fund influx buoy equity indices; telecom stocks rise (Roundup)

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Mumbai, Nov 16 (IANS) Broadly positive global markets, influx of foreign funds and healthy macro-economic trade data lifted the key Indian equity indices on Friday.

In addition, the risk taking appetite of investors was enhanced a day after credit rating agency Fitch affirmed India’s ‘Long-Term Foreign-Currency Issuer Default Rating’ (IDR) at ‘BBB-‘ with a stable outlook along with low crude oil prices and a slight recovery in the rupee.

On a sector-specific basis, healthy buying was witnessed in telecom, healthcare and energy stocks while scrips of banking companies came under selling pressure.

Index-wise, the S&P BSE Sensex closed 196.62 points up at 35,457.16 points. It had opened at 35,398.70 from its previous close of 35,260.54.

It touched an intra-day high of 35,545.85 and a low of 35,324.37.

The NSE Nifty50 closed 65.50 points higher or 0.62 per cent at 10,682.20 points.

“Market was range bound with a positive bias amid strong rupee and inflow of foreign funds,” said Geojit Financial Services’ Head of Research Vinod Nair.

“While investors are looking for major triggers for a decisive up move above 10700 level, stability in INR and oil prices will provide direction to the market despite election led uncertainty.”

According to HDFC Securities’ Retail Research Head, Deepak Jasani: “Technically, the short-term trend of Nifty has turned positive from sideways. Next upside levels to be watched are 10,755 points and 10,843 points in the next 1-2 weeks. Immediate support is now placed at 10,607 points.”

In terms of currency, the Indian rupee closed at Rs 71.92 per US dollar from its previous close of 71.98.

Investment-wise, provisional data with the exchanges showed that foreign institutional investors bought stocks worth Rs 844.82 crore on Friday while the domestic institutional investors sold scrip worth Rs 372.24 crore.

The top gainers on the Sensex were led by Bharti Airtel, up 9.81 per cent at Rs 333.60; Reliance Industries, up 2.79 per cent at Rs 1,127.50; HDFC, up 1.91 per cent at Rs 1,887.55; SBI, up 1.75 per cent at Rs 290.30; and Hero MotoCorp, up 1.28 per cent at Rs 283.70 a share.

The laggards were Yes Bank, down 7.14 per cent at Rs 191.30; Tata Steel, down 2.47 per cent at Rs 574.10; Maruti Suzuki, down 2.02 per cent at Rs 7,332.05; ONGC, down 1.48 per cent at Rs 156.55, and Axis Bank down 1.17 per cent at Rs 618.30 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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