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Equity indices extend record run on firm global cues (Roundup)

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Mumbai, Aug 27 (IANS) It was a complete bull-run in progress throughout the trading session in the Indian equity market on Monday, with both the key indices surging over one per cent and scaling new highs.

In a first, the S&P BSE Sensex crossed the 38,700-points mark and touched an all-time high of 38,736.88 points, tracking broadly positive global cues. Similarly, the NSE Nifty50 touched a fresh record high of 11,700.95 points.

Both the indices also settled at their respective record closing levels.

A surge in banking stocks among others supported the indices. The S&P BSE banking index rose by around 530 points during the day.

Index-wise, the wider Nifty50 on the National Stock Exchange closed at 11,691.95 points, higher by 134.85 points or 1.17 per cent from its previous close of 11,557.10 points.

The benchmark BSE Sensex, which had opened at 38,472.03 points, closed at 38,694.11 points, higher by 442.31 points or 1.16 per cent from its previous close of 38,251.80 points.

It touched an intra-day low of 38,416.73 points.

Along with positive global developments, strong buying by foreign institutional investors (FII) gave further fillip to domestic investor sentiment, said Abhijeet Dey, Senior Fund Manager Equities, BNP Paribas Mutual Fund.

“Global sentiment got a boost after US Federal Reserve Chairman Jerome Powell said that gradual rate hikes are now expected and China’s central bank decided to lift its official yuan midpoint by more than what the street expected,” he added.

Major Asian markets closed on a sharply positive note and European indices like DAX and CAC 40 traded in the green, said Deepak Jasani, Head of Retail Research at HDFC Securities.

On the currency front, the Indian rupee settled at 70.16 per dollar, 25 paise weaker than its previous close of 69.91 per dollar.

Investment-wise, provisional data with exchanges showed that foreign institutional investors bought scrips worth Rs 252.52 crore whereas domestic institutional investors purchased stocks worth Rs 1,117.24 crore.

Sector-wise, the S&P BSE banking index surged the most, by 530.08 points, followed by the IT index, which was up 231.56 points and the consumer durables index which ended 224.37 points higher than its previous close.

In contrast, the S&P BSE realty index was the only losing sector and it ended marginally lower by 3.44 points from its previous close.

The top gainers on the Sensex were Bharti Airtel, up 3.93 per cent at Rs 383; Power Grid, up 3.64 per cent at Rs 197.80; ICICI Bank, up 2.97 at Rs 339.90; State Bank of India, up 2.65 per cent at Rs 308.25; and Infosys, up 2.53 per cent at Rs 1,414.90 per share.

The only loser on the Sensex was Sun Pharma, which ended 1.25 per cent lower at Rs 621.80 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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