Sensex bids adieu to 2016 higher by 260 points

Benchmark indices continued the cheer as investors traded in the final trading session of 2016. Markets rose over 1% in today’s trade to post a yearly gain as they recover from the recent losses tracking various local and global cues.

Nifty gained around 300 points in the last 4 sessions to end the year over 8,200 in 2016 led by gains in Aurobindo Pharma, GAIL, Sun Pharma and ITC . On the other hand, Sensex rose as much as 308 points today to settle the year 544 points higher.

The S&P BSE Sensex ended at 26,626, up 260 points while Nifty50 gained 82 points at closing, to quote at 8,186. Among broader markets, BSE Midcap gained 1.15% while BSE Smallcap was up 0.97%. About 1691 shares have advanced, 570 shares declined, and 145 shares are unchanged.

In 2016, Nifty gained 3% while Sensex was up 2%, a year marked by volatility from global and local events. Globally, Brexit, and Donald Trump getting elected as US President surprised the markets. Back home, where approval of GST tax bill, good monsoon gave a boost to the markets, demonetisation, and declining bank credit growth casted a negative shadow. This year’s gains would mark a recovery from a decline recorded in 2015.

All sectoral indices ended the day in green with FMCG, realty, pharma stocks stealing the show on the last session of 2016.

Aurobindo Pharma was the top gainer for the day on Nifty but fell over 20% in 2016. Other gainers for the day include ITC, PowerGrid, Sun Pharma and ICICI Bank, up between 2-3.5% while BPCL, Bharti Infratel, Tata Steel and Bajaj Auto were the top decliners.

Hindalco Industries was the top gainer for the year, up 82% followed by YES Bank, Tata Steel, BPCL and PowerGrid.

The Nifty IT index, which fell nearly 8% this year post Brexit and Donald Trump win, was up almost 1% on Friday, with Just Dial and Tata Elxsi rising about 2% each. Nifty Bank gained 7.64% this year, was trading 0.84% up on Friday.

While metal, energy, auto were among the biggest sectoral gainers, telecom and pharma were the biggest laggards for the year.

Reliance Industries (RIL) hit a two-month high of Rs 1,084, up 1.8% in intra-day trade on Friday to close at 1.43%, extending its Thursday’s 1% gain on the BSE after the company said it commissioned the first phase of Para-xylene (PX) plant at Jamnagar, Gujarat. The stock was trading at its highest level since October 21, 2016. It hit a 52-week high of Rs 1,129 on September 26, 2016 in intra-day trade.

Engineers India dipped over 9.5% to Rs 150 on the BSE in early morning trade on profit booking as the stock trading ex-bonus on Friday in the ratio of 1:1. The stock ended 9.53% lower.

Here are some picks from the week gone by.

Company: Sintex Industries CMP: 75.00 Mastermind

Screen Shot 2016-12-26 at 7.41.05 PM

Company: Saksoft Ltd. CMP: 297.60 Mastermind

Company: Apollo Tyres CMP: 184.90 Mastermind

Company: Engineers India CMP: 151.00 Mastermind

Company: GAIL Ltd. CMP: 439.20 Mastermind


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