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 closed Wednesday’s volatile Thursday’s trading session on a flat amid lower opening of European equity markets.
The Sensex at the Bombay Stock Exchange (BSE) closed six points down at 26,299 and the Nifty at the National Stock Exchange (NSE) ended three points higher at 8,112.
In the broader markets, BSE Smallcap and Midcaps indices jumped 0.6 per cent and 0.1 per cent respectively.
Among the BSE sectoral indices, IT index closed with the biggest gain, up 1.8 per cent, while Consumer Durables index closed with the biggest decline, down 2 per cent.
On Tuesday, the Sensex had closed 514 points down at 26,305 and the Nifty had closed 188 points lower at 8,108.
Top gainers in the Sensex-30 pack: Asian Paints (up 5.1 per cent), TCS (up 3.2 per cent), Maruti Suzuki (up 2.9 per cent), HDFC (up 2.5 per cent) and Bharti Airtel (up 2.2 per cent).
Top losers in the Sensex-30 pack: Cipla (down 3.2 per cent), ITC (down 2.9 per cent), Dr Reddy’s Labs (down 2.9 per cent), Lupin (down 2.3 per cent) and Sun Pharma (down 2.1 per cent).
Meanwhile, the Rupee was trading nine paisa down at 67.83 against the US Dollar.
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