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 erased initial declines and closed Tuesday’s trading session with sharp gains amid value buying and supportive global markets.
The Sensex at the Bombay Stock Exchange (BSE) ended 406 points higher at 26,213, on Friday, and the Nifty at the National Stock Exchange (NSE) closed 125 points up at 8,033.
In the broader markets, BSE Midcap index jumped 1.7 per cent while Smallcap index climbed 1.5 per cent.
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All the BSE sectoral indices closed in the positive territory with Metal index leading the gains, up 2.5 per cent.
On Monday, the Sensex had closed 234 points down at 25,807 and the Nifty had ended 73 points lower at 7,913.
Top gainers in the Sensex-30 pack: ITC (up 4 per cent), Tata Steel (up 3.3 per cent), Adani Ports (up 3.1 per cent), ICICI Bank (up 2.3 per cent) and Lupin (up 2.1 per cent).
On the losing side, Gail was the only loser, in the Sensex-30 pack (down 1 per cent).
However, the Rupee was trading 21 paise down at 67.95 against the US Dollar.
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