Thiruvananthapuram

30°C

Haze

Enter word or phrase

Look for articles in

Last Updated Tuesday April 04 2017 02:31 AM IST

Sensex ends volatile 2016 on a high

Text Size
Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

Sensex Representative image

Mumbai: Stocks signed off 2016 on a cheerful note, with the Sensex surging over 260 points on Friday to close at over a fresh two-week high of 26,626 on the final trading session of the year. 

The beginning of January 2017 series of futures and options made investors upbeat. 

Read also: OnePlus launches '3T' smart phone with improvised features

With the deadline for depositing banned notes ending on Friday and ahead of the approaching Union budget, investors accelerated buying activity with hopes that the government might come up with a series of steps to boost the economy. 

Sentiment turned for the better after finance minister Arun Jaitley on Thursday said there has been a sharp jump in tax collections, belying fears of a sharp slowdown in the economy in view of demonetization. 

After a higher start, the 30-share index hit the day's high of 26,678.60 and closed up 260.31 points, or 0.99 percent, at 26,626.46 -- a level last seen on December 13 when it settled at 26,697.82. 

It had gained 155.47 points on Thursday as December derivatives contracts expired amid recovery in the rupee. 

The Nifty rose 82.20 points, or 1.01 percent, to end at 8,185.80, after touching the day's high of 8,197. 

For the week, the Sensex and the NSE Nifty recorded a rise of 585.76 points, or 2.24 percent, and 200.05, or 2.50 percent. 

The year saw the Sensex zooming to a high of 29,077.28 on September 8 and a low of 22,494.61 on February 29. 

Friday's closing meant a net gain of 508.92 points, or 1.94 percent from its last year-end close of 26,117.54. 

During the year, the Nifty gained 239.45 points, or 3.01 percent. The gauge had climbed to a high of 8,968.70 on September 7 and touched a low of 6,825.80 on February 29. 

Domestic institutional investors (DIIs) bought shares worth a net Rs 957.83 crore as per provisional data. But foreign portfolio investors (FPIs) net sold shares worth Rs 662.29 crore on Thursday.

GAIL saw the maximum jump, up 3.07 percent, followed by Sun Pharma (2.59 percent), ITC (2.31 percent) and PowerGrid (2.14 percent). 

In terms of sectors, the rally was driven by FMCG (up 1.67 percent), power (1.30 percent), healthcare (1.11 percent) and realty (1.10 percent). 

Broader markets such as BSE mid-cap and small-cap ended higher with gains of 1.07 percent and 0.77 percent, respectively. 

Trading was thin across the globe during the last day of the year, with volumes remaining below average. In the rest of Asia, Hong Kong's Hang Seng rose 0.94 percent while Shanghai Composite gained 0.24 percent. Japan's Nikkei shed 0.16 percent. 

In Europe, London's FTSE, Germany's Frankfurt and France's Paris were down by up to 0.25 percent in their late morning deals.

Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

The opinions expressed here do not reflect those of Malayala Manorama. Legal action under the IT Act will be taken against those making derogatory and obscene statements.