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Amid border tension and poll season, small investor returning, FIIs are bullish (Market Watch)

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By Arun Kejriwal
It was an eventful week with a lot of action on the border, and some of it, at the bourses. India struck Balakot in Khyber Pakhtunkhwa province in Pakistan in a preemptive strike in the early hours of February 26. This was the first time after 1971 war that India crossed the international border and struck.

Pakistan followed this with aggression and looked to attack at six different places the very next day. In the aggression, an MiG-21 Bison aircraft shot down an F-16 and an MiG too was also shot down. The Indian pilot was captured . Over the next 48 hours, all-round pressure on Pakistan saw the Indian Wing Commander Abhinandan return without any condition.

The firm stand by the Indian government, which gave a free hand to the armed forces to retaliate the killing of 40 of its CRPF men by a suicide bomber on February 14, culminated in the preemptive strike.

Both sides, after an aggressive mood, seem to have cooled down. The F-16, which was to be used only for fighting terrorism, is the bone of contention between Pakistan and the US. France, the UK and the US have moved a resolution to include Masood Azhar under article 1287 and declare him a terrorist. China, which has been vetoing the same, has till March 13 to decide.

Moving from the borders to the market, we had a lot of action here too. February futures expired almost flat with a net loss of 38.45 points or 0.36% at 10,792.50 points. Friday saw a rally and led to markets ending in the green for the week. BSESENSEX gained 192.33 points or 0.54% to close at 36,063.81 points while NIFTY gained 71.85 points 0.67% to close at 10,863.50 points. BSEMIDCAP and BSESMALLCAP had a very strong showing with gains of 2.35% and 3.43% respectively. Going forward, this is where the action would be.

The Lok Sabha polls are likely to be notified this week and the code of conduct would kick in. This would ensure no new schemes or projects can be launched. Post-border tension, the market is slowly but steadily veering to the idea that the current ruling party has the edge in the upcoming elections and that ‘mahagathbandan’ would not be able to cobble up the numbers. This feeling is helping the markets gain ground.

With the small and midcap space gaining, the small investor is enthused and is returning to the markets. Finally the icing on the cake is that FII’s have been bullish on India and have invested continuously in the last few weeks.

With so much happening and markets weathering the storm, they are set to open positive when trading resumes on Tuesday after a festival holiday on Monday. The two exchange-traded funds from the government, CPSE ETF and ICICI Bharat 22. look very attractive at current prices simply because the underlying stock have been hammered and are indeed cheap.

The Bharat 22 has the added advantage that 40% of the underlying value comes from three stocks, Axis Bank, ITC and L&T making it that much more attractive.

Ride the momentum.

(The writer is founder, Kejriwal Research and Investment Services)

–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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