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Global cues, weak rupee subdue equities; oil, gas stocks slump (Roundup)
Mumbai, June 27 (IANS) Negative global cues, including rising crude oil prices and the escalating trade war concerns along with a weak Indian rupee, pulled the domestic equity indices deep into the red on Wednesday.
Benchmark Asian indices also traded in the negative territory during the day.
In the domestic market, the NSE Nifty50 closed at 10,671.40 points, down 97.75 points or 0.91 per cent from the previous close of 10,769.15 points.
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had opened at 35,543.89 points, closed at 35,217.11 points — down 272.93 points or 0.77 per cent — from its previous close of 35,490.04 points.
The Sensex touched an intra-day high of 35,618.85 and a low of 35,154.21 points. The BSE market breadth was bearish with 2,218 declines and 464 advances.
“Weak global cues on the back of escalating global trade tension between the world’s biggest economic powers dented the market sentiments,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said: “Indian market ended in red due to a rise in global crude oil prices and rupee hitting a 19-month low during the day, and traders turned cautious a day before the expiry of June derivatives contracts.”
The rupee hit a low of 68.70 per dollar on Wednesday before ending 36 paise weaker at 68.61 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors bought scrip worth Rs 67.44 crore while the domestic institutional investors bought stocks worth Rs 84.31 crore.
Sector-wise, the only gainer was the S&P BSE IT index which ended marginally higher by 13.46 points.
On the other hand, S&P BSE Oil & Gas index plunged by 540.40 points, the capital goods index by 414.85 points and the auto index ended lower by 324 points.
The major gainers on the Sensex were HDFC Bank, up 0.89 per cent at Rs 2,111.65; Coal India, up 0.74 per cent at Rs 266.45; Tata Consultancy Services (TCS), up 0.38 per cent at Rs 1,859.80; Adani Ports, up 0.37 per cent at Rs 364.70; and Sun Pharma, up 0.35 per cent at Rs 574.95 per share.
The top losers were ICICI Bank, down 3.16 per cent at Rs 278.90; Larsen and Toubro, down 2.71 per cent at Rs 1,235.10; Tata Motors (DVR), down 2.44 per cent at Rs 161.85, Tata Motors, down 2.22 per cent at Rs 271.20; and State Bank of India, down 2.06 per cent at Rs 261.65 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
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.