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 equity markets extended gains amid positive Asian peers and closed last trading session of the year in the green zone.
The Sensex at the Bombay Stock Exchange (BSE) ended 260 points higher at 26,626, on Friday, and the Nifty at the National Stock Exchange (NSE) closed 82 points up at 8,186.
In the broader markets, BSE Midcap index climbed 1.1 per cent while Smallcap index surged 0.8 per cent.
All the BSE sectoral indices closed in the positive zone with FMCG index leading the gains, up 1.7 per cent.
On Thursday, the Sensex had closed 140 points up at 26,351 and the Nifty had ended 69 points higher at 8,104.
Top gainers in the Sensex-30 pack: Gail (up 3.1 per cent), Sun Pharma (up 2.6 per cent), ITC (up 2.3 per cent), Power Grid (up 2.1 per cent) and Infosys (up 1.7 per cent).
Top losers in the Sensex-30 pack: Bajaj Auto (down 0.8 per cent), Dr Reddy’s Labs (down 0.5 per cent), Tata Steel (down 0.3 per cent), HDFC Bank (down 0.1 per cent) and ONGC (down 0.1 per cent).
However, the Rupee was trading 20 paise higher at 67.90 against the US Dollar.