On Last Session Of 2021, Sensex Gains 460 Points, Nifty Tops 17,350

Titan was the top gainer in the Sensex pack, rising 3.5 per cent, followed by Kotak Bank, SBI, Maruti Suzuki, Bajaj Finance, HUL, Axis Bank, and Sun Pharma

Mid- and small-cap shares ended on a positive note as Nifty Midcap 100 index was up 1.40 per cent and Nifty Smallcap 100 index rose 1.41 per cent. Image: Getty

New Delhi: On the last trading day of 2021, key domestic equity benchmark Sensex rallied 460 points on Friday, led by strong gains in Maruti, SBI, and Bajaj Finance.

The 30-share index surged 459.50 points (0.80 per cent) to end at 58,253.82. Similarly, the Nifty rose by 150.10 points (0.87 per cent) to 17,354.05.

Titan was the top gainer in the Sensex pack, rising 3.5 per cent, followed by Kotak Bank, SBI, Maruti Suzuki, Bajaj Finance, HUL, Axis Bank and Sun Pharma.

On the other hand, NTPC, Tech Mahindra, PowerGrid, and Infosys were the laggards.

Mid- and small-cap shares ended on a positive note as Nifty Midcap 100 index was up 1.40 per cent and Nifty Smallcap 100 index rose 1.41 per cent. 

Bourses in Tokyo and South Korea were closed on Friday. Among others, Hong Kong's Hang Seng rose by 1.24 per cent while Shanghai Composite gained 0.57 per cent.

Stock exchanges in Europe were trading with losses in mid-session deals.

"What a year 2021 has been...The globe recovered from the Covid pandemic but faced another round of virus spread in March. However resilient Nifty kept rising through the year till October and then saw some decent correction. Globally and in India the marketcap on GDP ratio touched an all-time high due to large liquidity flows, low-interest rates, the expectation of early return to normalcy and low returns from other asset classes," Dhiraj Relli, MD & CEO, HDFC Securities, said.

Transition to 2022 will see a more normal monetary policy, and investors could do well to expect more moderate returns from financial markets. Central banks will start to raise rates but remain more tolerant of inflation. Central banks and their assessment of economic conditions will likely be front and centre once again in shaping investment strategies in 2022, he added.

"Post a super show in 2021, valuation levels in Indian equities could make most people cautious on India within EMs and Asia. Indian equities are running into many challenges, including the US rate cycle, rising oil prices, elections in key states, potential Covid wave 3, an upward inflexion in domestic interest rates, rich headline valuations and strong relative trailing performance," Relli said.

Meanwhile, international oil benchmark Brent crude slipped 0.43 per cent to USD 79.19 per barrel.

Foreign institutional investors (FIIs) were net sellers in the capital market, as they sold shares worth Rs 986.32 crore on Thursday, according to stock exchange data. PTI MKJ