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Equity indices drop from day’s highs, Sensex closes below 34k (Roundup)
Mumbai, Dec 27 (IANS) The key Indian equity indices, which touched fresh highs intra-day on Wednesday, slipped into the negative territory during the last hour of trade as investors booked profits ahead of derivatives expiry on Thursday.
According to market observers, a depreciating rupee and rising crude oil prices added to the subdued sentiments.
The barometer 30-scrip Sensitive Index (Sensex), which rose over 100 points during the trade session, fell to close below the 34,000-level — which was crossed for the first time on Tuesday.
On Wednesday, the Sensex closed trade at 33,911.81 points — down 98.80 points or 0.29 per cent from its previous close — after it touched a fresh high of 34,137.97 points on an intra-day basis.
The BSE market breadth turned bearish as 1,554 stocks declined as compared to 1,204 advances.
On the National Stock Exchange (NSE), the wider Nifty50 fell by 40.75 points or 0.39 per cent to close at 10,490.75 points.
The Nifty50 scaled a fresh intra-day high of 10,552.40 points.
“Markets corrected on Wednesday after two sessions of positive closings. Selling emerged in the last one hour of trade after the Nifty was in positive territory for a major part of the day,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
“The Sensex, too, closed below the psychological 34,000-mark. Sectorally, the top gainers were the pharma, media and IT indices, while the top losers were the Bank Nifty, PSU banks, realty and auto indices,” he added.
In terms of the broader markets, the S&P BSE mid-cap index closed lower by 0.19 per cent and the small-cap index by 0.33 per cent.
Provisional data with the exchanges showed that foreign institutional investors purchased scrips worth Rs 172.32 crore while domestic institutional investors sold stocks worth Rs 206.68 crore.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Domestic indices failed to sustain near all-time highs as depreciating rupee and surge in oil prices influenced investors to book profits and pushed the market to a negative note.”
“Stock-specific news on pharma has influenced investors to focus on the sector which is currently available at low valuation,” he added.
On the currency front, the Indian rupee weakened by seven paise to close at 64.15 against the US dollar from its previous close at 64.08.
Sectorwise, all the sub-indices of the BSE, except the healthcare index, closed in the red. The S&P BSE healthcare index rose by 267.20 points.
On the other hand, the S&P BSE banking index fell by 180.78 points, followed by capital goods index by 137.58 points and oil and gas index by 134.23 points.
Major Sensex gainers on Wednesday were: Sun Pharma, up 6.89 per cent at Rs 577.70; Dr. Reddy’s Lab, up 1.71 per cent at Rs 2,400.55; Mahindra and Mahindra, up 0.77 per cent at Rs 747; Wipro, up 0.69 per cent at Rs 305.35; and Hindustan Unilever, up 0.19 per cent at Rs 1,350.55.
Major Sensex losers were: Bharti Airtel, down 1.62 per cent at Rs 534; ICICI Bank, down 1.53 per cent at Rs 312.65; Larsen and Toubro, down 0.87 per cent at Rs 1,258.60; State Bank of India, down 0.85 per cent at Rs 314.15; and Tata Consultancy Services, down 0.82 per cent at Rs 2,621.05.
–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
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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