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Profit booking, higher crude oil prices subdue equity indices (Roundup)
Mumbai, Jan 3 (IANS) The key indices of the Indian equity market closed Wednesday’s trade session on a flat note after investors booked profit in automobile and oil and gas stocks.
According to market analysts, profit booking and a rise in global crude oil prices pared the initial gains made on the back of positive Asian markets.
Consequently, the 30-scrip S&P BSE Sensex, which had ended the previous session at 33,812.26 points, closed at 33,793.38 points, down a mere 18.88 points or 0.06 per cent.
However, there was a swing of over 200 points between the intra-day high and low levels. The Sensex touched a high of 33,998.37 points and a low of 33,765.43 points on an intra-day basis.
Similarly, the National Stock Exchange’s (NSE) Nifty50 closed on a flat note. It ended the day’s trade at 10,443.20 points, inching up by only 1 point or 0.01 per cent.
“Markets ended on a flat note on Wednesday after witnessing a roller coaster ride. The main indices initially opened higher and hit a fresh intra-day high in morning trade. They then hovered in positive territory on the back of positive global cues before profit booking emerged at higher levels in mid-morning trade,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
Said Vinod Nair, Head of Research, Geojit Financial Services: “Metals outperformed on expectation of earnings growth whereas auto stock witnessed profit booking after the recent run up. Investors are awaiting the result season to begin for signs of earnings upgrade.”
On the currency front, the Indian rupee weakened by six paise to close at 63.53-54 against the US dollar from its previous close at 63.48.
Provisional data with the exchanges showed that foreign institutional investors purchased scrips worth Rs 96.31 crore while domestic institutional investors sold stocks worth Rs 269.20 crore.
Sectorwise, the S&P BSE automobile index fell by 147.19 points, oil and gas index by 42.63 points and IT index by 35.75 points.
On the other hand, S&P BSE capital goods index rose by 285.04 points, followed by metal index by 202.16 points and consumer durables index by 181.61 points.
Major Sensex gainers on Wednesday were: Adani Ports and Special Economic Zone, up 2.78 per cent at Rs 407.85; Larsen and Toubro, up 2.17 per cent at Rs 1,276.15; ICICI Bank, up 1.88 per cent at Rs 315.05; Yes Bank, up 1.33 per cent at Rs 315.80; and Hindustan Unilever, up 0.80 per cent at Rs 1,350.10.
Major Sensex losers were: DrReddy’s Lab, down 2.97 per cent at Rs 2,336.20; Wipro, down 2.73 per cent at Rs 310.20; ONGC, down 1.65 per cent at Rs 193.70; Bajaj Auto, down 1.42 per cent at Rs 3,247.45; and Maruti Suzuki, down 1.35 per cent at Rs 9,416.75.
–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.