Friday, 30 December 2016

Market ends 2016 with a bang, Sensex up 2%, Nifty gains 3%

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The market ended 2016 on a positive note as the Nifty and the Sensex gained 1 percent. Annually, the Nifty metal saw an uptick of 45 percent. For the week, FMCG stocks outperformed with 6 percent gains. For the day, the market struggled a lot but could not touch 8200. The 50-share index ended up 82.20 points or 1 percent at 8185.80 while the Sensex was up 260.31 points or 0.9 percent at 26626.46. Both the Sensex and the Nifty edged higher to hit their highest level in over two weeks, in intra-day trade. Strong buying by domestic institutional investors (DIIs) sustained positive sentiment in the market.

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