Markets ended the last trading day of 2014 on a firm note led by index heavyweight Reliance Industries and select bank shares.
The broader markets outperformed the benchmark indices- BSE Midcap and Smallcap indices ended up by 1% each.
Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 277.92 crore on Tuesday, as per provisional stock exchange data.
The rupee is trading at 63.19 against the US dollar. Sustained demand for the American currency from importers as well as its strength against other global currencies saw the rupee pinned near 13-month lows.
Chinese and US stocks headed the list of 2014 top performers while markets elsewhere ended the year on Wednesday on a cautionary note as worries about Greece’s future served as an excuse to take profits.
The US dollar lost a little of the recent gains that have made it the year’s star major currency, but European bonds yields scored all-time lows following a shockingly sharp fall in Spanish inflation on Tuesday.
European stocks had a steady start as they wrapped up a year that has seen a 3.5% rise for the region as a whole but also sharp divergence, with near 30% losses for debt-strained Greece and Portugal.
The stand-out global equity performer has been China, where the CSI300 index looked set to end 2014 with gains of nearly 50%.
Almost all of China’s rise came in the last couple of months, as hopes for more aggressive policy stimulus to counter its economic slowdown boosted banks and brokerages.
All sectoral indices barring BSE Auto index registered gains in today’s trade. BSE Power and Realty indices ended 1% higher followed by BSE Consumer Durables, Oil & gas and Healthcare indices up 0.7% each. On the other hand, BSE Auto index lost 0.3%.
Pharma shares ended firm. Sun Pharma and Dr Reddys Lab gained between 0.5-2%.
Tata Steel gained around 0.8%. Tata Steel has announced that the mining restrictions the company faced in Jharhkand are likely to adversely impact its third quarter revenues as the company was compelled to suspend operations at one of its blast furnaces in Jamshedpur for more than a month resulting in below capacity operation during the period.
NTPC, Tata Power, TCS, Hindalco and Bharti Airtel were some of the notable gainer among others and gained between 1-2%.
Auto shares ended lower after the Finance Ministry decided not to extend excise duty cuts on automobiles and consumer durables beyond Wednesday, December 31. Hero Motocorp, Bajaj Auto and Maruti Suzuki lost between 0.5-2%.
Atul Auto surged over 6% on the BSE after Goldman Sachs bought a total of 4.05 lakh shares of the company in bulk deals on BSE yesterday.
Orbit Corporation fell over 4.5% after LIC Housing Finance took possession of its property in Mumbai pursuant to a loan default by the company.
The market breadth on the BSE ended positive with 1,690 shares advancing and 1,185 shares declining.