Top News
Equity indices close with marginal losses on F&O expiry day (Roundup)
Mumbai, Dec 28 (IANS) Amid volatility on the day of futures and options (F&O) expiry, key Indian equity indices on Thursday gave up all gains to close on a flat note — marginally in the red — with heavy selling pressure in banking, auto, and oil and gas stocks.
On a closing basis, the broader NSE Nifty50 of the National Stock Exchange (NSE) slipped by 12.85 points or 0.12 per cent to 10,477.90 points — falling below the important 10,500-level.
The barometer 30-scrip Sensitive Index (Sensex) closed at 33,848.03 points — down 63.78 points or 0.19 per cent — from its previous session’s close.
However, the BSE market breadth indicated a bullish trend with 1,436 stocks advancing as compared to 1,332 declines.
“Markets ended with marginal losses on Thursday on the back of the derivatives expiry of the December 2017 series. Selling in the last half an hour of trade pulled the indices into negative territory,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
“The sudden increase in volatility was probably due to the roll-over of positions in the F&O segment from the December series to the January 2018 series. Metal and mining stocks rose as copper prices rose in global markets,” he added.
In terms of the broader markets, the S&P BSE mid-cap index closed higher by 0.10 per cent and the small-cap index by 0.32 per cent.
On the currency front, the Indian rupee strengthened by seven paise to close at 64.08 against the US dollar from its previous close at 64.15.
Provisional data with the exchanges showed that foreign institutional investors purchased scrips worth Rs 562.55 crore while domestic institutional investors sold stocks worth Rs 774.09 crore.
Anand James, Chief Market Strategist, Geojit Financial Services, said: “Short covering rallies did not gather momentum ahead of the New Year weekend, but the metal and realty sectors gave some respite to an otherwise insipid session.”
“Soaring oil prices potential for exceeding the fiscal deficit targets, are closely eyed, as the Oil Ministry has estimated a 15 per cent swell in the oil imports bill. Also, investors cautiously waited for updates on the IBC (Insolvency and Bankruptcy Code) Amendment Bill tabled in the Lok Sabha, which dragged the PSU bank stocks,” he added.
Sectorwise, the S&P BSE auto index fell by 94.03 points, followed by banking index by 78.09 points and oil and gas index by 75.32 points.
On the other hand, the S&P BSE metal index surged by 300.27 points, realty index by 74.90 points and basic materials index by 35.53 points.
Major Sensex gainers on Thursday were: Tata Steel, up 1.78 per cent at Rs 734.65; Dr. Reddy’s Lab, up 1.30 per cent at Rs 2,431.75; HDFC Bank, up 0.82 per cent at Rs 1,873; Wipro, up 0.72 per cent at Rs 307.55; and ICICI Bank, up 0.51 per cent at Rs 314.25.
Major Sensex losers were: State Bank of India, down 1.86 per cent at Rs 308.30; Hero MotoCorp, down 1.74 per cent at Rs 3,713.50; Sun Pharma, down 1.70 per cent at Rs 567.90; Adani Ports, down 1.35 per cent at Rs 398.10; and Axis Bank, down 1.29 per cent at Rs 547.40.
–IANS
ppg/him/dg
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.