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Equity indices slip on weak global cues, rupee (Lead)
Mumbai, Sep 22 (IANS) Key Indian equity indices — the BSE Sensex and the NSE Nifty50 — descended by almost one per cent each during the mid-afternoon trade session on Friday as weak Asian markets, on the back of geo-political risks and depreciation of the rupee subdued investors’ sentiments.
Heavy selling pressure in banking, capital goods and consumer durables stocks aided in the downslide of the indices.
The wider Nifty50 of the National Stock Exchange (NSE) slipped below the psychologically important 10,000-mark intra-day, which was reclaimed on September 11. It touched a low of 9,992.15 points during intra-day trade.
Around 1.15 p.m., it traded at 10,011.05 points — down 110.85 points, or 1.10 per cent.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,339.50 points, traded at 32,075.72 points — down 294.32 points, or 0.91 per cent, from its previous close at 32,370.04 points.
The Sensex has so far touched a high of 32,342.81 points and a low of 32,023.37 during intra-day trade.
The BSE market breadth was bearish with 1,876 declines and 571 advances.
“Stocks in Asia dropped after a report that North Korea threatened with a hydrogen bomb test in the Pacific in response to fresh sanctions,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
“The Indian rupee weakened past 65-mark against the US dollar. Pharma stocks rose in early trade led by Dr. Reddy’s, Sun Pharma and Cipla, whereas shares of ICICI Bank, Tata Steel and Hindustan Unilever fell,” he added.
On Thursday, caution over a US Federal Reserve rate-hike in December, coupled with a weak rupee and profit booking by investors, pulled the benchmark indices lower to close in the red.
The Nifty50 fell by 19.25 points, or 0.19 per cent, to close at 10,121.90 points, while the Sensex closed at 32,370.04 points — down 30.47 points, or 0.09 per cent.
–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.