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…
Extending declines for seventh straight session amid weak global markets, domestic bourses started Thursday’s trading session with declines. At 9:50 am, the Sensex at the BSE was trading 136 points down at 26,107 and the Nifty at the NSE was trading 46 points lower at 8,015.
In the broader markets, BSE Midcap index slumped 0.8 per cent while Smallcap index slipped 0.7 per cent.
All the BSE sectoral indices were trading in the negative zone with Metal index leading the declines, down over 1 per cent.
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On Wednesday, the Sensex had closed 66 points down at 26,242 and the Nifty had ended 21 points lower at 8,061.
Top gainers in the Sensex-30 pack: Sun Pharma (up 1.1 per cent), Tata Motors (up 0.5 per cent) and HUL (up 0.4 per cent).
Top losers in the Sensex-30 pack: Axis Bank (down 1.5 per cent), Adani Ports (down 1.4 per cent), NTPC (down 1.3 per cent), M&M (down 1.2 per cent) and Bharti Airtel (down 1.2 per cent).
However, the Rupee was trading four paise higher at 67.87 against the US Dollar.
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