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Diwali in D-Street: Sensex, Nifty hit record highs (Roundup)

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Mumbai, Oct 16 (IANS) Only a few ahead of Diwali, better-than-expected macroeconomic data boosted investors’ sentiment thus enabling key Indian equity indices scale high levels and close at record highs on Monday.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed at 63.40 points, or 0.62 per cent higher, at 10,230.85 points.

The Sensex of the BSE, which opened at 32,488.23 points, closed at 32,633.64 points, higher by 200.95 points or 0.62 per cent from Friday’s close at 32,432.69 points.

The Sensex touched a high of 32,687.32 points and a low of 32,445.43 points during the day’s trade.

“Markets rallied further on Monday to close with gains (though small) for the third consecutive session. Nifty closed up 0.62 per cent. Positive sentiments in Asian bourses and record closing on the Wall Street last week aided the Indian markets,” Deepak Jasani, Head – Retail Research, HDFC securities told IANS.

“Positive trade data and encouraging comments from the IMF chief on the outlook for Indian economy also boosted investor sentiments,” he added.

Cooling of food prices helped ease India’s annual rate of inflation based on Wholesale Price Index (WPI) in September to 2.6 per cent, official data showed on Monday.

According to data released by the Commerce Ministry, the WPI, with the revised base year of 2011-12, eased from 3.24 per cent in August. The wholesale inflation rate was at 1.36 per cent during Sepetember 2016.

“The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group decreased from 4.41 per cent in August to 1.99 per cent in September,” the statement said.

“The benchmark indices pared some gains after hitting fresh record highs on Monday with the Nifty50 scaling past 10,200 for the first time as Reliance Industries touched its fresh peak of Rs 891 after the company on Friday sprang a surprise by posting a profit of Rs 1,443 crore at the operating level. Asian markets advancing to a decade high also contributed to the gains,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

Good buying was observed in metal, healthcare and technology, media and entertainment (TECK) sectors, while selling pressure was seen in power sector.

Sector-wise, the S&P BSE metal index moved up by 2.02 per cent, healthcare index got augmented by 1.24 per cent and TECK index rose by 1.23 per cent. However, power index dropped by 0.13 per cent.

Major Sensex gainers on Monday were: Bharti Airtel, up 4.96 per cent at Rs 453; Tata Motors Ltd – DVR, up 3.22 per cent at Rs 245.20; Mahindra & Mahindra, up 3.08 per cent at Rs 1367.30; and Tata Motors, up 2.85 per cent at Rs 436.55.

Major Sensex losers were: Axis Bank, down 1.65 per cent at Rs 520.70; Wipro, down 0.62 per cent at Rs 290.05; Maruti, down 0.31 per cent at Rs 7,847.50; and NTPC, down 0.28 per cent at Rs 175.45.

–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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