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Equities surge to new highs; global cues, results fuel upsurge (Lead)

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Mumbai, Nov 1 (IANS) Positive global cues, coupled with a strong rupee and healthy buying in banking, metals and FMCG stocks, propelled the key Indian equity indices to new record highs during the mid-afternoon trade session on Wednesday.

According to market observers, expectations of upbeat quarterly results, as well as the latest report that India for the first time has moved into the top 100 in the World Bank’s Ease of Doing Business global rankings riding on sustained government reforms, gave a boost to investors’ sentiments.

Around 1.05 p.m., the broader Nifty50 of the National Stock Exchange (NSE) rose by 105.05 points, or 1.02 per cent, to trade at a fresh high of 10,440.35 points.

On an intra-day basis, the Nifty50 scaled a new high of 10,451.65 points — surpassing its previous high of 10,384.50 points touched on October 30.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,344.23 points, traded at 33,625.56 points — surging 412.43 points or 1.24 per cent — from its previous close at 33,213.13 points.

The Sensex has so far touched a high of 33,651.52 points during intra-day trade, breaching its previous record high of 33,340.17 points (October 30).

The BSE market breadth was bullish — 1,625 advances and 1,002 declines.

“The BSE Sensex jumped more than 250 points to hit an all-time high on Wednesday after closing lower in the previous session. The broader NSE’s Nifty, too, rose in the morning hours to cross the 10,400 mark for the first time,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

“The Indian rupee opened at six-week high against the US dollar. India’s ranking in the World Bank ease of doing business survey for 2018 climbed a record 30 notches to 100 as a range of regulatory and policy reforms put in place by the Union and state governments over the past four years started delivering results,” he added.

On Tuesday, the benchmark indices closed on a flat-to-negative note as investors booked profits in metals, automobile and IT stocks.

The Nifty50 closed lower by 28.35 points, or 0.27 per cent, at 10,335.30 points, while the Sensex closed at 33,213.13 points — down 53.03 points or 0.16 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

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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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