Top News
Global sell-off, politics dent equities; Sensex plunges (Roundup)
Mumbai, Dec 10 (IANS) A global sell-off along with caution ahead of the Assembly election results and a rise in crude oil prices suppressed the key Indian equity indices deep into the red on Monday.
At the end of the day’s trade, the Nifty50 on the National Stock Exchange (NSE) fell below the 10,500 mark and the S&P BSE Sensex climbed down from the psychologically significant level of 35,000 points.
In the initial trade hours, the key indices – the S&P BSE Sensex and NSE Nifty50 – had a gap-down opening and subsequently shed over 750 points and 215 points each on an intra-day low basis.
The Nifty was dragged lower due to weakness in index pivotals Reliance Industries, Kotak Mahindra Bank, HDFC and Infosys.
Market observers said that caution prevailed before the outcome for the Assembly election results which will be known on Tuesday in Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram.
Exit polls say the Bharatiya Janata Party is facing a tough challenge. The elections are seen as a crucial indicator of public mood before the Lok Sabha elections in 2019.
In global markets, crude oil prices rose on Monday after the Organization of Petroleum Exporting Countries and Russia on Friday agreed to reduce supplies from January 2019.
In addition, there was a spike in trade war concerns after China on Sunday summoned US Ambassador Terry Branstad over the US arrest warrant for Huawei’s global CFO Meng Wanzhou, who was taken into custody in Canada last week.
Major Asian markets closed on a negative note while European indices like FTSE 100, DAX and CAC 40 traded in the red.
Index-wise, wider NSE Nifty50 closed lower by 205.25 points or 1.92 per cent to 10,488.45 points.
The barometer 30-scrip Sensitive Index (Sensex), which opened at 35,204.66 points, closed at 34,959.72 points — lower by 713.53 points or two per cent — from its previous session’s close of 35,673.25 points.
It touched an intra-day high of 35,246.97 and a low of 34,915.77 points.
“Markets ended with hefty losses on Monday as selling pressure continued during the day after a weak opening. The weakness came on the back of weak global cues amid rising tensions between the US and China as well as disappointing Chinese trade data for November,” said HDFC Securities Retail Research Head Deepak Jasani.
Said Geojit Financial Services Head of Research Vinod Nair: “Investor’s sentiment turned fragile due to worries over slowing global growth and caution ahead of the final outcome of state elections.”
“Unfavourable exit poll results for the ruling party has impacted the sentiment of the market,” Nair told IANS.
On the currency front, the Indian rupee weakened to 71.34 against the US dollar from its previous close of 70.81 on last Friday.
In terms of investment, provisional data from the BSE showed that foreign Institutional Investors (FII) bought stocks worth Rs 116.22 crore, whereas the Domestic Institutional Investors (DII) sold shares worth Rs 145.80 crore,
Sector-wise, there were no gainers on the BSE.
On the other hand, the S&P BSE banking index plunged 605.06 points, the capital goods index fell 373.31 points and the consumer durables index was down 262.46 points.
The top gainers on the Sensex were Coal India, up 0.76 per cent, at Rs 238.60 and Maruti Suzuki, up 0.49 per cent, at Rs 7,350.10.
In contrast, the major Sensex losers were Kotak Mahindra Bank, down 6.56 per cent, at Rs 1,198.15; Reliance Industries, down 3.95 per cent, at Rs 1,088.50; Adani Ports, down 3.85 per cent, at Rs 359.35; Asian Paints, down 3.48 per cent, at Rs 1,272.70; and Tata Motors, down 3.45 per cent, at Rs 156.85.
Other major companies that slipped during the day’s trade were Tata Motors DVR, down 3.25 per cent, at Rs 86.25; Bharti Airtel, down 3.16 per cent, at Rs 294.30; Sun Pharma, down 3.03 per cent, at Rs 398.85; Larsen and Toubro, down 2.29 per cent, at Rs 1,366.45; and HDFC, down 2.21 per cent, at Rs 1,909.20 per share.
–IANS
rv-rrb/mr
Top News
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.
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
Cheers and Cheers: Barzilla’s Joyful Ode to Inclusivity and Celebration
Casino Days Reveal Internal Data on Most Popular Smartphones
Meghalaya Reserves Legalized Gambling and Sports Betting for Tourists
IPL 20202 UPDATE: KXIP vs MI IPL Dream11 Team Prediction for Today Match, Update Point Table of all Team.
In a Live debate AAP leader Syed Asad Abbas hurls abuses to BJP spokesperson Nupur Sharma.
‘India’s Most Wanted’ trailer out Arjun Kapoor on hunt of Osama-Bin-Laden
Time to move on: Sonakshi on Shatrughan’s joining Congress
