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Sensex ends 192 points higher,rupee declines further (Roundup)
Mumbai, Jan 21 (IANS) Amid healthy third quarter earnings, the Sensex and Nifty ended on a firm note on Monday in tandem with the Asian markets.
“Global markets were mixed as Asian markets chalked gains but Europe opened on a lacklustre note. Overall, the sentiment was benign after fresh data from China showed that its economy grew at its slowest pace since 1990,” said Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund.
“Traders also await British Prime Minister Theresa May’s announcement of a Plan B for Brexit which she is due to present in parliament later today (London time).”
Energy, IT and oil and gas sectors gained while the key finance stocks ended lower.
The BSE Sensex closed higher by 192.35 points, or 0.53 per cent at 36,578.96 points, after touching a high of 36,701.03 and a low of 36,351.77.
The benchmark index opened higher on Monday, at 36,467.12 points, from its previous close of 36,386.61.
The broader Nifty50 also ended up by 54.90 points or 0.50 per cent at 10,961.85.
Technically, the Nifty has broken out of last week’s trading range, which augurs well for the uptrend to continue. Our next upside targets for the Nifty are at 11,036-11,081 once the immediate resistances of 10985 are taken out,” said Deepak Jasani of HDFC Securities.
“Crucial supports to watch for any weakness are now at 10,885.”
Stock-wise, Reliance Industries gained over 4 per cent on Sensex after reported healthy third quarter earnings last week.
It was followed by Kotak Mahindra Bank which reported a 22.57 per cent increase in its standalone net profit during the October-December quarter, following which its shares gained 2.42 per cent.
Other top gainers were Sun Pharma, Bajaj Finance and Infosys.
In contrast, Hero MotoCorp and Yes Bank lost over 3 per cent while Maruti Suzuki, Power Grid and Bajaj Auto declined up to 2.07 per cent.
On the currency front, the Indian rupee depreciated 10 paise against the US dollar, to 71.28 per US dollar from the previous close of 71.18.
In terms of investments, both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) were net sellers. While FIIs sold shares worth Rs 299.79 crore, DIIs bought Rs 520.80 crore worth of stocks on Monday.
–IANS
ravi/vm
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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.