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…
Domestic benchmark market indices extended gains for sixth straight session and closed Wednesday’s trading session in the negative zone with IT and Teck indices leading the declines.
The Sensex at the Bombay Stock Exchange (BSE) ended 66 points down at 26,242 and the Nifty at the National Stock Exchange (NSE) closed 21 points lower at 8,061.
Broader markets underperformed the benchmark indices, BSE Midcap index slipped 0.2 per cent while Smallcap index closed flat with a positive bias.
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Among the BSE sectoral indices, Realty index closed with the biggest gain, up 1.5 per cent, while IT index ended with the biggest decline, down 0.8 per cent.
On Tuesday, the Sensex had closed 67 points down at 26,308 and the Nifty had ended 22 points lower at 8,082.
Top gainers in the Sensex-30 pack: NTPC (up 1.2 per cent), M&M (up 1.2 per cent), Lupin (up 1.2 per cent), Maruti Suzuki (up 0.8 per cent) and ONGC (up 0.8 per cent).
Top losers in the Sensex-30 pack: Sun Pharma (down 2.3 per cent), ITC (down 1.4 per cent), TCS (down 1.1 per cent), Hero Motocorp (down 1 per cent) and Wipro (down 0.9 per cent).
However, the Rupee was trading 12 paise higher at 67.91 against the US Dollar.
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