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…
Tracking mixed global cues, domestic equity markets took a respite from previous declines and started Thursday's trading session on a flat note. At 9:50 am, the Sensex at the BSE was trading two points higher at 26,213 and the Nifty at the NSE was trading eight points up at 8,043.
However, broader markets registered gains. BSE Midcap index rose 0.3 per cent while Smallcap index jumped 0.4 per cent.
Among the BSE sectoral indices, IT index registered the biggest gain with a jump of 0.8 per cent while FMCG index became the top loser with a tumble of 0.5 per cent.
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On Wednesday, the Sensex had closed three points down at 26,211 and the Nifty had ended two points up at 8,034.
Top gainers in the Sensex-30 pack: TCS (up 1.2 per cent), Axis Bank (up 0.6 per cent), ONGC (up 0.5 per cent), NTPC (up 0.5 per cent) and Asian Paints (up 0.5 per cent).
Top losers in the Sensex-30 pack: Adani Ports (down 1.1 per cent), ITC (down 1 per cent), Hero Motocorp (down 0.6 per cent), Bajaj Auto (down 0.6 per cent) and Tata Motors (down 0.6 per cent).
Meanwhile, the Rupee was trading six paise higher at 68.18 against the US Dollar.
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