Seoul, Jan 17 | Jailed former South Korean President Lee Myung-bak was admitted to a hospital on Monday for an unspecified chronic illness, the Justice Ministry said.
The 81-year-old was transferred to the Seoul National University Hospital from the Anyang Correctional Institution where he is serving a 17-year sentence for embezzlement and bribery convictions, Yonhap News Agency quoted the Ministry as saying.
Lee will undergo medical examinations for his chronic illness, and when he will be discharged from the hospital will not be disclosed for security reasons, Ministry officials said.
It marks Lee’s first hospitalisation this year.
He visited a hospital three times last year for chronic diseases, including diabetes.
Lee, who served as President from 2008-2013, has been serving the sentence since the Supreme Court finalized the 17-year jail term in October 2020.
He was excluded from the recent presidential pardons for the new year, under which jailed former President Park Geun-hye was set free.
The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.
While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.
Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.
Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.
On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.
Source: Choice India