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Nifty Gains 15% In 2020, Posts Best Annual Return Since 2017

1/1/2021 11:40:10 AMVisitors: 1284

The S&P BSE Sensex and NSE Nifty 50 indices ended on a flat note on last session of 2020 as losses in FMCG, IT and state-run banking offset gains in metal, pharma and media shares. Both benchmarks traded on a choppy note for the most part of the day, as derivatives (futures and options) contracts for the month of December expired at the end of the session. The Nifty touched a record high of 14,024.85 during the session and the Sensex touched an all-time high of 47,896.97.

The Sensex ended 5 points higher at 47,751 and Nifty 50 index closed unchanged at 13,982.

In the calendar year 2020, the Sensex rallied 15.75 per cent and the Nifty climbed 14.90 per cent, making it the best year for the indices since 2017, news agency Reuters reported. For the decade ended 2020, the Sensex has gained a whopping 173 per cent and Nifty surged 169 per cent.

A gush of liquidity by foreign investors has lifted the benchmarks to new highs, according to analysts.

On Wednesday, foreign institutional investors (FIIs) had net bought Indian shares worth ₹ 1,824 crore. So far this calendar year, FIIs have net purchased domestic equities worth $22.44 billion but net sold assets worth $14 billion in the debt markets, NSDL data showed.

Six of 11 sector gauges compiled by the National Stock Exchange ended higher, led by the Nifty Metal and Pharma indices, which rose 0.7 per cent each. Auto, financial services, media and realty shares also witnessed buying interest.

On the other hand, PSU banking, FMCG, IT and private banking shares witnessed mild selling pressure.

Mid- and small-cap shares witnessed buying interest, with the Nifty Midcap 100 index rising 0.5 per cent and the Nifty Smalllcap 100 index gaining 0.3 per cent.

HDFC was the top Nifty gainer, rising 1 per cent to close at ₹ 2,550 apiece on the BSE. Sun Pharma, Divi's Labs, ICICI Bank, Asian Paints, Dr Reddy's Labs, Hindalco and HCL Technologies were also among the gainers.

On the flipside, Shree Cement, TCS, UltraTech Cement, Bharti Airtel, Kotak Mahindra Bank, Axis Bank, ITC, Adani Ports and Tech Mahindra were among the losers.

CommentsOverall market breadth was positive, as 1,766 shares ended higher on the BSE whereas 1,244 closed lower.

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