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Profit booking in banks, IT stocks drag equity indices lower (Lead)
Mumbai, Jan 25 (IANS) Breaking a six-day gaining streak, the key Indian equity indices on Thursday dived into the negative territory as investors turned cautious on the day of January futures and options (F&O) expiry.
According to market observers, profit booking in banking, IT and consumer durables stocks dampened the sentiment.
At 1 p.m., the wider Nifty50 of the National Stock Exchange traded lower by 33.60 points or 0.30 per cent at 11,052.40 points.
Around the same time, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 36,208.39 points, traded at 36,039.20 points — up 122.44 points or 0.34 per cent from its previous session’s close.
The BSE market breadth was bearish as 1,506 stocks declined against 1,132 advances.
“BSE Sensex and NSE Nifty traded lower on the last session of January expiry in the derivatives segment,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“Asian stocks held near a record high on Thursday though concerns about the Trump administration’s stance cast a shadow on financial markets while the dollar was under pressure after US Treasury Secretary Steven Mnuchin welcomed a weaker currency,” he added.
On Wednesday, the benchmark indices closed in the green — managing to close at fresh levels with nominal gains after touching new highs on an intra-day basis — as IT stocks helped cope up with losses.
The Nifty50 inched up 2.30 points or 0.02 per cent to close at a new high of 11,086 points. It crossed the 11,100-mark during intra-day trade and scaled a fresh high of 11,110.10 points.
On the BSE, the Sensex closed at a new high of 36,161.64 points, after scaling a new high of 36,268.19 points during the intra-day trade.
–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.