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Equities close flat, IT stocks buoy sentiments (Roundup)

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Mumbai, Dec 4 (IANS) Breaking a four-day losing streak, key Indian equity indices on Monday closed in the green with marginal gains as investors traded with caution ahead of the Reserve Bank of India’s (RBI) two-day policy review meet starting Tuesday.

According to market observers, a surge in stocks of IT major Infosys kept market sentiments buoyed. However, profit booking in banking and auto stocks capped gains.

On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) inched up 5.95 points or 0.06 per cent to 10,127.75 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 32,869.72 points — up 36.78 points or 0.11 per cent — from Friday’s close.

The BSE market breadth was bearish — 1,604 declines and 1,088 advances.

“Indian markets ended flat in trade. Focus now shifts to RBI’s monetary policy meeting after the upbeat GDP (gross domestic product) numbers for the September quarter failed to cheer investors. The central bank’s two-day policy meet is scheduled to begin on Tuesday,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

According to Deepak Jasani, Head, Retail Research, HDFC Securities, markets ended with marginal gains on Monday after four consecutive sessions of losses.

“Broad market indices like the BSE mid-cap and small-cap indices ended with bigger losses, thereby underperforming the main indices,” Jasani told IANS.

“Technically, while the Nifty has bounced back marginally, the index remains in a short term downtrend,” Jasani added.

In the broader markets, the S&P BSE mid-cap index closed lower by 0.09 per cent and the small-cap index by 0.52 per cent.

On the currency front, the rupee strengthened by 9-10 paise to close at 64.37-38 against the US dollar from its last week’s close at 64.47.

Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 333.59 crore, while domestic institutional investors bought stocks worth Rs 776.18 crore.

Sector-wise, the S&P BSE IT index gained by 145.14 points, metal index by 68.85 points and Teck (technology, media and entertainment) index by 64.81 points.

On the other hand, the S&P BSE banking index declined by 85.91 points, auto index by 53.20 points and energy index by 22.29 points.

Major Sensex gainers on Monday were: Infosys, up 2.80 per cent at Rs 985.30; Hindustan Unilever, up 1.37 per cent at Rs 1,269.50; HDFC, up 1.25 per cent at Rs 1,680; Tata Motors, up 1.06 per cent at Rs 403.40; and Tata Steel, up 1.03 per cent at Rs 687.70.

Major Sensex losers were: Coal India, down 2.09 per cent at Rs 266.55; Maruti Suzuki, down 1.10 per cent at Rs 8,512.90; Asian Paints, down 1.02 per cent at Rs 1,124.50; Sun Pharma, down 0.95 per cent at Rs 520.95; and Reliance Industries, down 0.92 per cent at Rs 901.50.

–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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