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Equity indices extend gains, exit polls outcome uplift sentiments (Roundup)

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Mumbai, Dec 15 (IANS) Riding on the exit polls outcome which predicted a BJP win in Gujarat and Himachal Pradesh assembly elections, the two key indices of the domestic markets extended gains for the second consecutive session on Friday.

According to market observers, the key equity indices — which surged to higher levels supported by healthy buying in metals, consumer durables and auto stocks and a strong rupee — trimmed some gains on the back of weak global markets.

On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) rose by 81.15 points or 0.79 per cent to 10,333.25 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,462.97 points — up 216.27 points or 0.65 per cent — from its previous close.

However, the BSE market breadth was bearish — 1,572 declines and 1,049 advances.

In the broader markets, the S&P BSE mid-cap index was up by 1 per cent and the small-cap index by 1.38 per cent.

“Markets ended higher on Friday on the back of the outcome of Gujarat and Himachal Pradesh exit polls. The markets opened on a strong note in the morning session and then traded in a range for the rest of the day,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.

“Some selling was seen towards the close on the back of weakness in the global equity markets,” he added.

On the currency front, the Indian rupee strengthened by 30 paise to close at 64.04 against the US dollar from its previous close at 64.34.

Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 921.03 crore while domestic institutional investors purchased stocks worth Rs 635.44 crore.

Vinod Nair, Head of Research, Geojit Financial Services, said: “Market rallied with the ecstasy of Gujarat exit poll result which suggested a clear victory for the ruling party. Underlined disruptions on government reforms have not influenced the poll.

“Metals gained its sheen after the recent correction, while bank nifty and auto outperformed the main index as investors used the advantage of bargaining opportunity,” he added.

All the sub-indices of the BSE ended in the green barring the S&P BSE telecom index, which was down 7.98 points.

Sector-wise, the BSE S&P metal index surged by 379.91 points, followed by consumer durables index by 359.02 points and auto index by 335.21 points.

Major Sensex gainers on Friday were: Mahindra and Mahindra, up 3.56 per cent at Rs 1,482.65; Coal India, up 3.02 per cent at Rs 271.05; Dr. Reddy’s Lab, up 2.52 per cent at Rs 2,372; HDFC Bank, up 1.95 per cent at Rs 1,873.05; and Adani Ports, up 1.75 per cent at Rs 401.95.

Major Sensex losers were: Cipla, down 2.53 per cent at Rs 575.85; ONGC, down 0.87 per cent at Rs 182.85; Asian Paints, down 0.45 per cent at Rs 1,119.95; Tata Consultancy Services, down 0.42 per cent at Rs 2,547.85; and State Bank of India, down 0.41 per cent at Rs 312.75.

–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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