In its worst show in four fiscals, the market benchmark Sensex today ended 2015-16 with a yearly plunge of 9.36 per cent, leaving investors poorer by nearly Rs 7 lakh crore as global headwinds and foreign fund outflows pounded domestic equities during the year.
For the day, however, the index inched up by 3.28 points to 25,341.86 on caution due to carry-forward of positions to the April series and S&P putting China on negative outlook.
Broader market too remained strong as mid-cap and small- cap indices ended higher by 0.68 per cent and 0.46 per cent, respectively.
In March, the Sensex registered a rise of 10.17 per cent or 2,339 points and Nifty climbed 10.75 per cent or 751.35 points, making it the biggest monthly gain in over four years.
Heavy crash in commodity prices, first rate hike by the US Federal Reserve in nearly a decade, global slowdown, especially in China, and slower pace of key domestic reforms pulled Sensex by 2,615.63 points or 9.36 per cent during the year, its worst performance in a fiscal since 2011-12.
Investor wealth too fell by nearly Rs 7 lakh crore during 2015-16 or over Rs 2,700 crore per trading session.
NSE's Nifty dropped by 752.60 points or 9.72 per cent during the year to settle the fiscal at 7,738.40.
The rupee, at 66.26, lost ground against the dollar as it weakened by Rs 3.61 or 5.86 per cent during 2015-16.
During the day, after surging 141 points in early trade, the 30-share Sensex frittered away most of initial gains and slipped into the negative zone to hit a low of 25,223.22 before bouncing back to close 3.28 points or 0.01 per cent higher at 25,341.86.
The index had soared 438.12 points yesterday, the biggest single-day gain in nearly a month, tracking firm global trend after US Federal Reserve softened its stance on rate hikes.
The broader Nifty after shuttling between 7,777.60 and 7,702.00, closed 3.20 points or 0.04 per cent up at 7,738.40.
In stock specific action, Hindustan Zinc surged 14 per cent after the company announced it will pay highest ever dividend of Rs 10,141 crore, including Rs 3,000 crore to the government, to its shareholders for the 2015-16 fiscal.
Natco Pharma settled 4 per cent high after the company's board approved sale of 'Save Mart Pharmacy Stores' in the US, which is a non-core business of the firm.
Meanwhile, foreigners bought shares worth Rs 1,442.47 crore yesterday, as per provisional data.
Overseas, Asian markets witnessed a mixed trend with Shanghai composite and Taiwan up by 0.11 per cent and 0.09 per cent while Japan slipped 0.71 percent, Singapore dropped 0.31 per cent and Hong Kong down fell 0.13 per cent.
Europe opened lower with the UK's FTSE down 0.64 per cent, Germany's DAX 0.66 per cent lower and France's CAC shedding 1.16 per cent.
Broader markets also continued to display firm trend as
retail investors widened their exposure, with the BSE mid-cap index rising 0.37 per cent and small-cap gaining 0.18 per cent.
RBL Bank share made a spectacular debut with a nearly 22 per cent premium on the bourses today, against the issue prices of Rs 225.
Consequently, auto-maker stocks remained buyers' fancy ahead of monthly sale numbers to be announced tomorrow. Major gainers were Hero MotoCorp with 2.13 per cent rise followed by Tata Motors 1.73 per cent.
Moreover, among banking pack, HDFC Bank, ICICI Bank, Axis Bank and SBI surged by up to 1.83 per cent.
In a major boost to the construction sector, the Union Cabinet today approved an array of measures including easing of rules for quicker settlement of disputes, pumping in liquidity and reinvigorating stalled projects.
Reacting to this, shares of Hindustan Construction Company soared 20 per cent to Rs 27.50. Out of the 30-share Sensex pack, 11 scrips ended higher.
Major gainers were L&T (2.71 pc), Asian Paint (1.09 pc), ITC Ltd (1.05 pc), HDFC Ltd (0.99 pc), Power Grid (0.52 pc), and Wipro (0.29 pc).
Among laggards, Tata Steel fell the most by 1.95 per cent, followed by ONGC 1.92 per cent, Lupin 1.71 per cent, NTPC 1.58 per cent and TCS 1.42 per cent.
Sector-wise, capital goods rose by 1.40 per cent followed by bankex 1.20 per cent, consumer durables 0.17 per cent, auto 0.35 per cent and FMCG 0.15 per cent, while metal fell by 1.40 per cent and realty 0.81 per cent.
In Asia, Japan's Nikkei settled 0.97 per cent higher and Shanghai Composite Index rose 0.35 per cent, while indices in Hong Kong, Singapore and South Korea fell up to 0.18 per cent.
Europe was narrowly mixed with indices in Paris rising 0.40 per cent, while London's FTSE dipping 0.11 per cent. Frankfurt's fell 0.22 per cent in their early trade.
