Stocks end 2016 with 3% gains; volatility, black swan events dominate
Fresh buying into front line shares and continued covering of short positions helped markets to end higher for the 4th…
Snapping seven-sessions losing streak, domestic bourses recovered from initial declines and closed last trading session of the week on a marginally higher note amid higher opening of European markets.
The Sensex at the Bombay Stock Exchange (BSE) ended 61 points higher at 26,041, on Friday, and the Nifty at the National Stock Exchange (NSE) closed seven points up at 7,986.
Broader markets closed in the opposite direction, BSE Midcap index slumped 0.3 per cent while Smallcap index slipped 0.1 per cent.
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Among the BSE sectoral indices, Capital Goods index jumped the most, up 0.9 per cent, while Realty index declined the most, down 1.1 per cent.
On Thursday, the Sensex had closed 263 points down at 25,980 and the Nifty had ended 82 points lower at 7,979.
Top gainers in the Sensex-30 pack: Cipla (up 3.7 per cent), Maruti Suzuki (up 2.7 per cent), Bajaj Auto (up 2.4 per cent), Gail (up 2.4 per cent) and Sun Pharma (up 2.4 per cent).
Top losers in the Sensex-30 pack: Axis Bank (down 2.7 per cent), ONGC (down 1.2 per cent), ITC (down 1.2 per cent), Dr Reddy’s Labs (down 0.9 per cent) and TCS (down 0.9 per cent).
Meanwhile, the Rupee was trading 20 paise higher at 67.79 against the US Dollar.
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