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…
Shaving off initial gains amid lower opening of European markets, domestic equity markets closed Wednesday’s trading session on a flat note.
The Sensex at the Bombay Stock Exchange (BSE) ended three points down at 26,211, and the Nifty at the National Stock Exchange (NSE) closed two points up at 8,034.
However, broader markets ended with jumps. BSE Midcap index rose 0.5 per cent while Smallcap index surged 0.9 per cent.
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Among the BSE sectoral indices, Healthcare index ended with the biggest gain, up 0.8 per cent, while Oil & Gas index closed with the biggest decline, down 0.3 per cent.
On Tuesday, the Sensex had closed 406 points up at 26,213 and the Nifty had ended 125 points higher at 8,033.
Top gainers in the Sensex-30 pack: Coal India (up 2.1 per cent), Wipro (up 1.4 per cent), Dr Reddy’s Labs (up 0.9 per cent), Lupin (up 0.6 per cent) and M&M (up 0.6 per cent).
Top losers in the Sensex-30 pack: Reliance Industries (down 1.2 per cent), Tata Steel (down 1.1 per cent), Power Grid (down 1.1 per cent), Hero Motocorp (down 1 per cent) and ICICI Bank (down 0.7 per cent).
However, the Rupee was trading 13 paise down at 68.20 against the US Dollar.
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