Top News
Short-covering lifts market; Sensex up 180 points (Roundup)
Mumbai, Dec 26 (IANS) Value buying on the back of attractive valuations along with
short-covering ahead of derivatives expiry and low crude oil prices buoyed the major domestic equity indices on Wednesday, with the barometer BSE Sensex gaining 180 points.
The volatile trade session closed with the equity market making a strong recovery at the last hour led by the financial sector that ended with 0.88 per cent gains on the BSE, while on the NSE, only the export-oriented Nifty IT and pharma index ended lower.
“Market recovered from day’s low led by buying in banking stocks and short covering ahead of F&O expiry which subsided global headwinds,” said Vinod Nair, Head of Research at Geojit Financial Services.
The S&P BSE Sensex settled 179.79 points or 0.51 per cent higher at 35,649.94, after touching an intra-day high of 35,711.26 and a low of 35,010.82.
The NSE’s Nifty50 gained 66.35 points or 0.62 per cent to finish at 10,729.85.
“Technically, with the Nifty bouncing back strongly, traders will need to watch if the index can now cross the immediate resistance of 10,759 for further upsides. Immediate support is now at 10,672,” said Deepak Jasani, HDFC Securities’ Retail Research Head.
Even the Indian rupee strengthened against the US dollar at 70.07 from its previous close at 70.14 per US dollar.
In terms of crude oil prices, after an initial decline below the $50-mark, the Brent index inched up to $50.93 per barrel in the international markets at the time of closing bell here.
“The oil market is facing a lot of uncertainty and one possibility is that OPEC may go for a further production cut if prices decline,” Anuj Gupta, Deputy Vice President – Research, Commodities and Forex, Angel Broking, told IANS.
Investment-wise, provisional figures from stock exchanges showed that foreign institutional investors (FIIs) bought shares worth Rs 80.28 crore. Domestic institutional investors (DIIs) sold stocks worth Rs 137.63 crore.
On stock specific basis, gainers on Sensex were led by Bharti Airtel, which ended 3.95 per cent higher, while HDFC Bank, HDFC, L&T, Kotak Mahindra Bank and Maruti Suzuki gained upto 2 per cent.
In contrast, top index loser was Sun Pharma which closed 2.23 per cent lower. Yes Bank, TCS, Tata Motors, NTPC, Tata Motors (DVR) and NTPC lost upto 1.5 per cent.
–IANS
ravi-rv/sed
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.