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…
Continuing their declining trend for eighth straight session, domestic equity markets started last trading session of the week in the negative zone amid weak global cues. At 9:50 am, the Sensex at the BSE was trading 76 points down at 25,904 and the Nifty at the NSE was trading 26 points lower at 7,953.
In the broader markets, BSE Midcap index slumped 0.4 per cent while Smallcap index slipped by 0.2 per cent.
All the BSE sectoral indices were trading in the negative zone, except Oil & Gas, with FMCG index leading the declines, down 0.8 per cent. Oil & Gas index inched up 0.1 per cent.
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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: Sun Pharma (up 1.4 per cent), HDFC (up 0.5 per cent), ONGC (up 0.5 per cent), Bajaj Auto (up 0.4 per cent) and Hero Motocorp (up 0.3 per cent).
Top losers in the Sensex-30 pack: M&M (down 1.7 per cent), Gail (down 1.3 per cent), Axis Bank (down 1.3 per cent), ITC (down 1.3 per cent) and Cipla (down 1 per cent).
However, the Rupee was trading six paise higher at 67.92 against the US Dollar.
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