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Weak global cues depress equity indices, auto stocks slump (Roundup)

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Mumbai, June 21 (IANS) Broadly negative global markets subdued the key Indian equity indices on Thursday. Indices on both the BSE and the National Stock Exchange (NSE) ended in the red after a largely volatile trade throughout the day.

Concerns of a renewed global trade war dampened investor sentiments in the international markets, analysts said.

The key indices had opened on a positive note but could not hold on to the gains for long, with heavy selling pressure on auto, capital goods and consumer durables stocks.

Index-wise, the wider Nifty50 of the NSE closed at 10,741.10 points, down 30.95 points or 0.29 per cent from the previous close of 10,772.05 points.

Similarly, the BSE Sensex, which had opened at 35,644.05 points, closed at 35,432.39 points — down 114.94 points or 0.32 per cent from its previous session’s close of 35,547.33 points.

The Sensex touched an intra-day high of 35,678.69 points and a low of 35,396.97 points. The BSE market breadth was bearish with 1,793 declines against 808 advances.

“Markets ended lower on Thursday after correcting from a high of 10,810 points (Nifty50). Weak global cues from trade tensions and oil price direction dampened the sentiments,” said Deepak Jasani, Head of Retail Research at HDFC Securities.

Major Asian markets have closed on a negative note and the European indices like FTSE 100, CAC 40 and DAX traded in the red, he added.

On the currency front, the Indian rupee appreciated by nine paise against the US dollar to 67.99, from its previous close of 68.08 per greenback.

Investment-wise, provisional data with exchanges showed that foreign institutional investors bought scrip worth Rs 1,126.75 crore and the domestic institutional investors bought stocks worth Rs 663.57 crore.

Sector-wise, the S&P BSE oil and gas index was the only gainer on Thursday, ending 85.89 points higher from its previous close.

On the other hand, S&P BSE auto slumped 223.81 points, the capital goods index was down 196.03 points and the consumer durables index ended lower by 171.09 points.

Stock-wise, the major gainers on the Sensex were ICICI Bank, up 1.47 per cent at Rs 297.55; Reliance Industries, up 1.22 per cent at Rs 1,032.35; HDFC, up 0.35 per cent at Rs 1,853; Tata Motors, up 0.31 per cent at Rs 306.55; and Infosys, up 0.24 per cent at Rs 1,246.35 per share.

The top losers were Mahindra and Mahindra, down 2.11 per cent at Rs 883.60; ONGC, down 1.9 per cent at Rs 159.70; Power Grid, down 1.88 per cent at Rs 195.85, State Bank of India, down 1.67 per cent at Rs 268.70; and Sun Pharma, down 1.6 per cent at Rs 554.60 per share.

–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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