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Sensex, Nifty gain over 1% on bargain hunting (Roundup)

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Mumbai, Dec 7 (IANS) Bargain hunting by investors after previous two session’s losses lifted the key Indian equity indices on Thursday, with the BSE Sensex gaining over 300 points and the NSE Nifty50 closing firmly above the 10,100 level.

According to market observers, robust buying in auto, consumer durables and capital goods stocks lifted the benchmark indices.

On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) edged higher by 122.60 points or 1.22 per cent to 10,166.70 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 32,949.21 points — up 352.03 points or 1.08 per cent — from its previous close.

The BSE market breadth was bullish — 1,860 advances and 818 declines.

“Markets bounced back strongly on Thursday after the sell-off seen in the previous session. Investors seemed to be bargain buying after the recent fall. A sharp fall in oil prices in global commodities market yesterday (Wesdnesday) also boosted market sentiments,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.

“Technically, while the Nifty has bounced back smartly, the underlying trend remained down. The Nifty would need to cross the previous intermediate high of 10,410 to reverse the current downtrend,” he added.

In the broader markets, the S&P BSE mid-cap index closed higher by 1.38 per cent and the small-cap index by 1.29 per cent.

Vinod Nair, Head of Research, Geojit Financial Services, said: “Market smartly recouped from the yesterday’s losses which were triggered by Reserve Bank of India’s (RBI) hawkish policy and weakness in global market. However, RBI reiterating an economic growth of 6.7 per cent for FY18 uplifted the sentiment.

“Upcoming state election in Gujarat and rupee movement against dollar ahead of US tax reform will be keenly watched for further momentum in the market.”

On the currency front, the rupee weakened by 4-5 paise at 64.57-56 against the US dollar from its previous close at 64.52.

All the 19 sub-indices of the BSE ended in the positive territory, led by the S&P BSE consumer durables index, which augmented by 523.55 points, followed by auto index by 488.19 points and capital goods index by 378.66 points.

Major Sensex gainers on Thursday were: Bharti Airtel, up 6.08 per cent at Rs 513.35; Asian Paints, up 3.29 per cent at Rs 1,140.50; Maruti Suzuki, up 3.26 per cent at Rs 8,881.10; Tata Steel, up 2.97 per cent at Rs 687.90; and Bajaj Auto, up 2.78 per cent at Rs 3,195.

Major Sensex losers were: Coal India, down 0.64 per cent at Rs 263.30; Tata Consultancy Services, down 0.52 per cent at Rs 2617.65; Cipla, down 0.50 per cent at Rs 592.50; Wipro, down 0.34 per cent at Rs 281.35; and Sun Pharma, down 0.26 per cent at Rs 510.20.

–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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