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Equities plunge on cross border tensions, caution ahead of F&O expiry (Third Lead)

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Mumbai, Sep 27 (IANS) Key Indian equity indices provisionally closed deep in the red on Wednesday as caution ahead of futures and options (F&O) expiry, coupled with a weak rupee and profit booking in banking, capital goods and automobile stocks, hampered investors’ risk-taking appetite.

According to market observers, sentiment was hampered on updates that the Indian Army inflicted “heavy casualties” on NSCN (K) militants during a firefight along the border with Myanmar.

“Market close on Wednesday would mark the longest losing streak for the indices after a seven-day fall that ended on 22 December, 2016,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

“Sentiment was also dampened, when news agency flashed, there was a firefight and heavy casualties were suffered by the NSCN-Khaplang in Nagaland along the India-Myanmar border, tweeted the Eastern Command,” Desai added.

The BSE Sensex shed over 400 points during intra-day trade.

At 3.30 p.m., the 30-scrip Sensitive Index of the BSE provisionally closed at 31,159.81 points — down 439.95 points, or 1.39 per cent. Intra-day, it touched a high of 31,797.46 points and a low of 31,100.80 points.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) closed below the psychologically important 9,800-level.

It fell by 132.25 points, or 1.34 per cent, to close at 9,739.25 points.

On Tuesday, the benchmark indices closed marginally in the red on the back of continuous outflow of foreign funds and selling pressure in telecom, Teck (technology, media and entertainment) and FMCG stocks.

The Nifty closed at 9,871.50 points — down 1.10 points or 0.01 per cent, while the Sensex closed at 31,599.76 points — down 26.87 points, or 0.08 per cent.

–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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