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Profit booking subdues equity markets (Roundup)
Mumbai, Sep 29 (IANS) Key Indian equity indices closed on a flat-to-positive note as investors booked profits ahead of the release of important macro-economic data later on Friday.
Market observers opined that the caution ahead of the RBI’s monetary policy review and a long weekend also forced investors to vacate some of their positions.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) closed at 9,788.60 points — up 19.65 points or 0.20 per cent.
The 30-scrip Sensitive Index of the BSE, which opened at 31,367.25 points, closed at 31,283.72 points — up a mere 1.24 points, from its previous close at 31,282.48 points.
The Sensex touched a high of 31,523.87 points and a low of 31,243.71 points during intra-day trade.
“The pullback rally continued today with the markets ending with modest gains on Friday (Nifty closed up 0.2 per cent). A sell off in the afternoon session curbed the gains ahead of the long weekend,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Firm global cues and positive sentiments after the government stuck to its budgeted market borrowing for the second half of fiscal 2018, thereby easing concerns that it would widen its fiscal deficit target, helped to lift the indices.”
Anand James, Chief Market Strategist, Geojit Financial Services, said: “With a long weekend ahead, followed by RBI rate decision and a series of macro data, traders opted to limit aggressive bets, confining indices to a flat close.”
According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the benchmark indices pared gains to end on a flat note on the back of foreign fund outflows.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 1,546.86 crore while domestic institutional investors (DIIs) purchased stocks worth Rs 2,064.63 crore.
On the currency front, the rupee strengthened by 22 paise to close at 65.29 against the US dollar from its previous close at 65.51.
Major Sensex gainers on Friday were: Bajaj Auto, up 2.44 per cent at Rs 3,108.15; Bharti Airtel, up 1.63 per cent at Rs 388.65; Mahindra and Mahindra, up 1.55 per cent at Rs 1,253.75; Coal India, up 1.35 per cent at Rs 270.60; and Adani Ports, up 1.25 per cent at Rs 376.20.
Major Sensex losers were: Hindustan Unilever, down 2.37 per cent at Rs 1,175.15; Wipro, down 1.71 per cent at Rs 280.95; Tata Consultancy Services (TCS), down 1.67 per cent at Rs 2,437; Dr Reddy’s Lab, down 1.62 per cent at Rs 2,329.40; and ITC, down 1.11 per cent at Rs 258.25.
–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.