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Stock-specific buying pushes equity indices higher (Lead)
Mumbai, Dec 4 (IANS) Healthy buying in IT, metals and healthcare stocks pushed the key Indian equity indices higher during the mid-afternoon trade session on Monday.
According to market observers, a surge in stocks of IT major Infosys, along with other index heavyweights like Tata Motors, Bharti Airtel, HDFC and Hindustan Unilever added to the upward trajectory of the key indices.
At 1 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded higher by 32.05 points or 0.32 per cent at 10,153.85 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,968.02 points, traded at 32,959.53 points — up 126.59 points or 0.39 per cent — from Friday’s close.
The Sensex touched a high of 33,008.47 points and a low of 32,785.76 during the intra-day trade so far.
In contrast, the BSE market breadth was bearish — 1,319 declines and 1,231 advances .
“Indian shares opened higher Monday tracking the gains in Infosys, which surged 3 per cent after the company over the weekend said it has appointed Capgemini’s Salil Parekh as Managing Director and Chief Executive Officer effectively from Jan 8, 2018,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“However, benchmark indices gave up some of their early gains as Reliance Industries, Larsen and Toubro and Sun Pharma came under selling pressure within minutes of opening trade,” he added.
On Friday, the benchmark indices were dragged lower by growing concerns over the country’s widening fiscal deficit, coupled with negative global cues and profit booking in auto, metal and oil and gas stocks.
The wider Nifty50 declined by 104.75 points or 1.02 per cent to close at 10,121.80 points, while the Sensex closed at 32,832.94 points — down 316.41 points or 0.95 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.