India's Sensex closes 1.95% higher in 2016, Nifty by 3%

In a year marked by sharp volatility and bouts of bear dominance in India's stock markets, two key indices closed between 1.95 per cent and 3 per cent higher, with nearly a third of the gains coming on the last few days of trading.

The 30-scrip Sensitive Index (Sensex) of the BSE that closed at 26,117.54 points in 2015, saw the level of 26,626.46 points as 2016 drew to a close -- a gain of 508.92 points or 1.95 per cent, data with the exchange showed.

In the case of wider 51-scrip Nifty of the National Stock Exchange (NSE), the gain during 2016 was 239.45 points, or 3.01 per cent, with the index closing at 8,185.80 points on Friday, as opposed to a close of 7,946.35 in the year before.

"The year 2016 began promisingly in comparison to 2015, but ending has been little different," said D.K. Aggarwal, Chairman and Managing Director, SMC Investments and Advisors, a leading brokerage and financial advisory.

"The year was also one of the most volatile one for domestic stock markets after the post-budget rally after February and a combination of domestic and global factors," Aggarwal told IANS, soon after the closing bell.

--IANS

rv-ap/vt