Benchmark indices settled the last trading session of 2016 over 1% higher to post a yearly gain as they recovered from their recent losses tracking various local and global cues.
The NSE Nifty gained around 300 points in the last 4 sessions but failed to end the year above 8,200 in 2016 . 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%.
"The euphoria continued in the last trading day of the year, hoping for radical remarks in PM speech tomorrow. Additionally, an expectation of tax sops in budget, weakness of dollar and robust tax collection are adding positive sentiment," said Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services.
The broad market depicted strength. There were almost two gainers against every loser on BSE. On the BSE, 1,758 shares rose and 859 shares fell. A total of 196 shares were unchanged.
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