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Sensex rises 16% this fiscal leaving investors richer by Rs 26 trillion

LiveMint logoLiveMint 31-03-2017 PTI

Mumbai: Benchmark Sensex slipped 27 points on Friday to end at 29,620.50 on the last trading day of 2016-17, but scored a gain of over 16% for the full fiscal during which investors’ wealth grew by over Rs 26 trillion.

The broader 50-share index Nifty, which on Friday ended flat at 9,173.75 points, scored even better for the full year with a surge of 18.55%. Measured in terms of total market capitalisation of all listed stocks on the BSE, the overall investor wealth grew to a record high of Rs 121 trillion—up from Rs 94.75 trillion at the end of fiscal 2015-16.

The Sensex has gained 4,278.64 points, or 16.88%, for the entire fiscal 2016-17. The gauge had touched the year’s high of 29,824.62 (intra-day) on March 17 this year.

The broader Nifty ended the fiscal with gains of 1,435.55 points, or 18.55%, after scaling the year’s high of 9,218.40 (intra-session) on March 17.

The index had lost about 9% in the previous fiscal, but had ended 2014-15 with gains of 26.65%.

For the day, the BSE Sensex snapped its three-session winning streak to end lower by 26.92 points, or 0.09% at 29,620.50. It hovered between 29,687.64 and 29,552.61 during the day. The gauge had rallied 410.27 points in the past three sessions.

The broader market sentiment remained strong, with the mid-cap and small-cap indices outperforming the Sensex by rising 0.79% and 0.72%, respectively. The NSE Nifty ended the day flat at 9,173.75 after shuttling between 9,191.70 and 9,152.10 On a weekly basis, the Sensex rose 199.10 points, or 0.67%, while the Nifty gained 65.75 points, or 0.72%.

Also Read| Sensex seen hitting record high by end-June as optimism rises

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 67.97 crore yesterday, as per provisional data.

Sectoral performance on the NSE was mixed. While banking and FMCG stocks traded lower, metals and media stocks invited buying interest.

“US stocks closed higher yesterday after it was announced that the US economy, as measured by gross domestic product, expanded at a 2.1% annualised pace in the fourth quarter, slightly faster than the previously reported 1.9%,” said Karthikraj Lakshmanan, senior fund manager – Equities, BNP Paribas Mutual Fund.

RIL was the day’s best performer in the Sensex pack, rallying 3.93% to Rs1,319.20, its highest in nine years, with the company’s telecom unit Jio set to charge for its services from 1 April.

ICICI Bank, Axis Bank, HDFC Bank, HDFC Ltd, Cipla, ITC, Asian Paint, TCS, GAIL, HUL, Lupin, Bharti Airtel, Infosys, Bajaj Auto, Tata Motors and Hero MotoCorp were under pressure largely on profit booking after recent gains.

In contrast, NTPC, Maruti Suzuki, L&T, M&M, Coal India, SBI, Tata Steel, Power Grid, Dr Reddy’s, Adani Ports and ONGC notched good gains.

Sector-wise, energy rose 2.52%, oil and gas 1.65%, metal 1.13%, consumer durables 1.05% and capital goods 0.98%. However, telecom fell 0.92%, followed by bankex (0.73%), finance (0.52%) and realty (0.53%).

The market breadth remained positive as 1,625 stocks ended higher, 1,118 declined, while 230 ruled unchanged. The total turnover rose to Rs 4,953.97 crore from Rs 4,606.56 crore yesterday.

Overseas, Asian markets closed lower as the quarter drew to a close, with investors ignoring better-than-expected US economic growth data. Hong Kong ended 0.65% down, Japan’s Nikkei shed 0.81%, while China’s Shanghai Composite Index gained 0.36%.

European stocks were down in their initial deals. Paris’s CAC declined by 0.25%, Frankfurt’s DAX fell 0.11% and London’s FTSE shed 0.36%.

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