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…
Following mixed global cues, domestic equity markets started Wednesday&’s trading session on a flat note.
At 9.45 am, the Sensex at the Bombay Stocks Exchange (BSE) was trading 10 points down at 28,075 while the Nifty at the National Stock Exchange (NSE) was trading five points lower at 8,673.
On Thursday, the Sensex had closed 122 points down at 28,060 and the Nifty had closed 33 points lower at 8,678.
Advertisement
However, in the broader markets, BSE Midcap index increased 0.1 per cent and Smallcap index jumped 0.3 per cent.
Among the BSE sectoral indices, Metal index registered the biggest gain, up 0.6 per cent, while FMCG index posted the biggest decline, down 0.7 per cent.
Top gainers in the Sensex-30 pack: Adani Ports (up 4.6 per cent), Bajaj Auto (up 1.1 per cent), TCS (up 0.7 per cent), Coal India (up 0.7 per cent) and Bharti Airtel (up 0.6 per cent).
Top losers in the Sensex-30 pack: ITC (down 1 per cent), Lupin (down 1 per cent), Dr Reddy&’s Labs (down 0.8 per cent), Gail (down 0.8 per cent) and Cipla (down 0.6 per cent).
Meanwhile, the Rupee was trading 16 paisa higher at 66.68 against the US Dollar.
Advertisement
