Mumbai, Dec 31: Equity benchmark Sensex rallied over 450 points on the last trading day of 2021 on Friday, led by strong gains in Maruti, SBI and Bajaj Finance.
The 30-share index surged 459.50 points or 0.80 per cent to end at 58,253.82. Similarly, the Nifty rose by 150.10 points or 0.87 per cent to 17,354.05.
Titan was the top gainer in the Sensex pack, rising 3.5 per cent, followed by Kotak Bank, SBI, Maruti Suzuki, Bajaj Finance, HUL, Axis Bank and Sun Pharma.
On the other hand, NTPC, Tech Mahindra, PowerGrid and Infosys were the laggards.
Bourses in Tokyo and South Korea were closed on Friday. Among others, Hong Kong’s Hang Seng rose by 1.24 per cent while Shanghai Composite gained 0.57 per cent.
Stock exchanges in Europe were trading with losses in mid-session deals.
“What a year 2021 has been…The globe recovered from the Covid pandemic but faced another round of virus spread in March. However resilient Nifty kept rising through the year till October and then saw some decent correction. Globally and in India the marketcap on GDP ratio touched an all-time high due to large liquidity flows, low-interest rates, the expectation of early return to normalcy and low returns from other asset classes,” Dhiraj Relli, MD & CEO, HDFC Securities, said.
Transition to 2022 will see a more normal monetary policy, and investors could do well to expect more moderate returns from financial markets. Central banks will start to raise rates but remain more tolerant of inflation. Central banks and their assessment of economic conditions will likely be front and centre once again in shaping investment strategies in 2022, he added.
“Post a super show in 2021, valuation levels in Indian equities could make most people cautious on India within EMs and Asia. Indian equities are running into many challenges, including the US rate cycle, rising oil prices, elections in key states, potential Covid wave 3, an upward inflexion in domestic interest rates, rich headline valuations and strong relative trailing performance,” Relli said.
Meanwhile, international oil benchmark Brent crude slipped 0.43 per cent to USD 79.19 per barrel.
Foreign institutional investors (FIIs) were net sellers in the capital market, as they sold shares worth Rs 986.32 crore on Thursday, according to stock exchange data. (AGENCIES)
&&
BIZ-RUPEE-CLOSE
Rupee ends 2021 on positive note; settles
13 paise higher at 74.29 against USD
MUMBAI, Dec 31:
The rupee surged 13 paise to close at 74.29 (provisional) against the US dollar on the last trading session of 2021, tracking positive domestic equities amid year-end dollar selling by banks and exporters.
At the interbank forex market, the local unit opened up at 74.35 against the greenback and witnessed an intra-day high of 74.10 and a low of 74.38. It finally settled at 74.29, a rise of 13 paise.
In the previous session, the rupee surged 29 paise to close at a more than one-month high of 74.42 against the US dollar.
On the domestic equity market front, the BSE Sensex ended 459.50 points or 0.80 per cent higher at 58,253.82, while the broader NSE Nifty surged 150.10 points or 0.87 per cent to 17,354.05.
Meanwhile, the dollar index, which measures the greenback’s strength against the basket of six currencies, fell 0.04 per cent to 95.92.
Brent crude futures, the global oil benchmark, fell 0.74 per cent to USD 78.94 per barrel.
Foreign institutional investors were net sellers in the capital market on Thursday, as they offloaded shares worth Rs 986.32 crore, as per exchange data. (AGENCIES)
&&&
BIZ-GOLD-PRICE
Gold gains Rs 144; silver jumps Rs 664
New Delhi, Dec 31:
Gold price in the national capital on Friday gained Rs 144 to Rs 46,874 per 10 gram in line with strong international precious metal prices, according to HDFC Securities.
In the previous trade, the yellow metal settled at Rs 46,730 per 10 gram.
Silver also jumped Rs 664 to Rs 61,015 per kg from Rs 60,351 per kg in the previous trade.
In the international market, gold was trading with gains at USD 1,816 per ounce and silver was flat at USD 23.15 per ounce.
“Gold prices traded firm with spot gold prices at COMEX trading 0.11 per cent up at USD 1,816 per ounce on Friday,” HDFC Securities, Senior Analyst (Commodities), Tapan Patel said. (agencies)
&&&
Follow our WhatsApp channel
