The Sensex and Nifty closed flat today on the last trading day of this year amid higher global markets in subdued New Year's Eve trading. While the Sensex closed 8 points lower at 36,068, Nifty ended two points in the green at 10,862.
Earlier in the day, the Sensex rose 200 points to 36,276, Nifty gained 60 points to 10,920.
Tata Steel (1.59%), Vedanta (1.48%) and Sun Pharma (1.42%) were the top Sensex gainers. Top Sensex losers were Hero MotoCorp (1.32%), Axis Bank (0.87%) and NTPC (0.77%).
On an yearly basis, Indian markets have emerged as top performers when compared to their global peers. While the Sensex has gained 5.91% since the beginning of this year, Nifty has clocked 3.15% returns during the same period. On the other hand, the Dow Jones index is down 6.70% since the beginning of this year and Nasdaq has lost 4.62% during the same period.
The negative sentiment is widespread in Asia too, where Nikkei 225 index has lost 12.08% in 2018. Hang Seng, another key Asian market has lost 13.61% in 2018.
Back home, top sectoral gainers were metal stocks with the BSE metal index rising 167 points to 11,839. The BSE consumer durables index (142 pts) and BSE healthcare (93 pts) were the other major sectoral gainers.
Bank Nifty rose 34 points to 27,160.
Joseph Thomas, Head Research at Emkay Wealth Management said," In stark contrast to the bullish opening today, the last trading session of the calendar year, the market closed on a flattish note , with the Sensex down by 0.02% (36068) and the Nifty higher by 0.02% (10862). The mixed cues from the global markets, the lack of any fresh triggers, ensured that the session remained uneventful. In 2019, the immediate attention could be on the impending General Elections, but the basic direction of the market would be, to a large extent , determined by the interest rate policy of the Fed and the RBI, the direction of the oil prices, as also the further developments in the context of the US-China tariff war and the fears of a hard Brexit."
Meanwhile, the BSE mid cap and small cap indices closed 78 points higher to 15,438 and 101 points higher to 14706 level in trade today. Market breadth was positive with 1523 stocks closing higher compared to 1079 falling on the BSE.
On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 119 crore on Friday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1199.4 crore, provisional data available with BSE showed.
The CAC 40 in France rose 0.5 percent to 4,700.70 and Hong Kong's Hang Seng advanced 1.3 percent to 25,485.70. India's Sensex gained 0.2 percent to 36,129.27. Australia's S&P ASX/200's benchmark slipped 0.1 percent to 5,646.40. Most other markets were closed for the New Year holiday. The future contract for the Dow Jones industrial average gained 0.9 percent to 23,233.00 and that for the S&P 500 also jumped 0.9 percent, to 2,507.50.
Meanwhile, US President Donald Trump tweeted on Sunday that he had a "long and very good call" with Xi. "Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made."
Edited by Aseem Thapliyal
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