Finance
The benchmark BSE Sensex and NSE Nifty ended 2022 on a bearish note due to year-end selling in select banking, IT (information technology), and capital goods shares.
The key indices, on the other hand, are expected to post annual gains of more than 4% in 2022, making them the world’s best-performing large market indices.
On the final session of the year, stock markets opened on a positive note and traded in the green for the majority of the day. Gains in Asian markets aided local equities as well. The Sensex gained 258.8 points, or 0.42 percent, to an intra-day high of 61,392.68 points, while the Nifty reached a high of 18,265.25 points.
Following a weak start in European stocks, the market lost steam, with indices paring all gains.
The 30-share BSE Sensex fell 293.14 points, or 0.48 percent, to close at 60,840.74. The NSE Nifty fell 85.70 points, or 0.47 percent, to finish at 18,105.30.
The BSE barometer finished 2022 with a gain of 4.44 percent or 2,586.92 points, while the Nifty gained 4.32 percent or 751.25 points. After hitting a 52-week low of 50,921.22 points on June 17, the Sensex reached an all-time high of 63,583.07 points on December 1.
Last year, the Sensex increased by 10,502.49 points, or 21.99%.
ICICI Bank, Bharti Airtel, HDFC, ITC, Nestle, Larsen & Toubro, Asian Paints, Mahindra & Mahindra, Power Grid, and IndusInd Bank were the Sensex pack’s major laggards on Friday.
In contrast, the major winners were Bajaj Finserv, Titan, Bajaj Finance, Tata Steel, Tata Motors, Wipro, Kotak Mahindra Bank, Tech Mahindra, Reliance Industries, and State Bank of India.
The broader market, on the other hand, finished in the green, with the BSE smallcap index up 0.76 percent and the midcap index up 0.37 percent.
FMCG fell 0.59 percent, utilities fell 0.52 percent, power fell 0.46 percent, teck fell 0.43 percent, financial services fell 0.36 percent, and capital goods fell 0.36 percent (0.28 per cent).
Among the winners were commodities, consumer discretionary, energy, consumer durables, metal, and real estate.
Elsewhere in Asia, equity markets in Tokyo, Shanghai and Hong Kong ended in the green.
In mid-session trades, European equity exchanges were trading lower. On Thursday, US markets finished in positive territory.
Brent crude fell 0.14 percent to USD 83.34 per barrel, the international oil benchmark.
According to exchange data, foreign institutional investors (FIIs) sold shares worth 572.78 crore on Thursday.
Source:syndicate feed
