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…
Amid negative Asian peers and weak domestic support, Indian equity markets started Monday's trading session in the negative zone. At 9:50 am, the Sensex at the BSE was trading 247 points down at 25,794 and the Nifty at the NSE was trading 78 points lower at 7,908.
In the broader markets, BSE Midcap index slumped 1.7 per cent while Smallcap index lost by 1.6 per cent.
All the BSE sectoral indices were trading in the negative zone with Realty index leading the declines, down 2.6 per cent.
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On Friday, the Sensex had closed 61 points higher at 26,041 and the Nifty had ended seven points up at 7,986.
Top losers in the Sensex-30 pack: Cipla (down 2.6 per cent), Axis Bank (down 2.2 per cent), ICICI Bank (down 1.8 per cent), Bharti Airtel (down 1.7 per cent) and Adani Ports (down 1.7 per cent).
Top gainers in the Sensex-30 pack: Dr Reddy’s Labs (up 0.6 per cent), TCS (up 0.2 per cent) and Reliance Industries (up 0.1 per cent).
However, the Rupee was trading two paise higher at 67.80 against the US Dollar.
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