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Sensex ends 151 points lower, Nifty short of 10,900 (Second Lead)

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Mumbai, Feb 11 (IANS) Major equity indices traded in the red throughout the day on Monday ahead of the key macro-data release on Tuesday, with Sensex closing 150 points lower, while the Nifty ended below the 10,900-point mark.

Barring the IT and Teck stocks, all other sectors ended lower. On the NSE, PSU Bank Nifty closed 1.74 per cent down. The pharma sector also witnessed heavy selling pressure.

Selling pressure continued in the market despite a rebound in global markets as investors turned risk-averse due to upcoming election, said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

Besides, Nair added that third quarterly results have failed to enthuse investors as the “scope of downgrade in earnings further dampened the sentiment”.

The BSE Sensex closed 151.45 points or 0.41 per cent lower at 36,395.03 from its previous close of 36,546.48 points, while the Nifty closed 54.80 points down at 10,888.80.

“Global trade deal and risk of slowdown in growth continue to give caution, while investors remain focused on tomorrow’s (Tuesday) CPI inflation and IIP data to get some direction.”

“Broader participation is not happening. Also, we are witnessing some profit booking post the Interim Budget and RBI rate cut,” Rusmik Oza, Head – Fundamental Research, Kotak Securities, told IANS.

“In the run-up to the general elections, investors are looking at sectors which are less susceptible to domestic factors. Therefore, the export-oriented IT stocks are gaining.”

Tata Steel emerged the top gainer, up 2.31 per cent on Sensex, followed by Power Grid, HCL Tech, Maruti Suzuki and Tata Motors, which gained up to 1.50 per cent.

Among losers in the Sensex pack, Mahindra and Mahindra shed over 5 per cent, followed by ONGC, Bajaj Finance, Reliance Industries and State Bank of India.

–IANS
ravi/nir

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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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