New Delhi, Dec 31 The key equity indices S&P BSE Sensex and NSE Nifty50 ended the year 2021 on a high by settling in the green on the last trading day session.
The Sensex and Nifty settled at 58,253 points and 17,354 points, up 0.8 per cent and 0.9 per cent from their previous close, respectively.
In 2021, Sensex and Nifty rose nearly 22 per cent and 24 per cent, respectively.
In the final trading session of 2021, US' Dow Jones reportedly declined on thin trade, while most European markets were closed.
Back home, all sectoral indices were in the green during the day's trade, with Nifty auto, consumer durables, metals, and PSU banks rising the most, NSE data showed.
According to Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services: "Major global markets were closed in observance of New Year. Asian markets were positive on the back of better-than-expected Chinese data, wherein China's manufacturing sector continued to expand in December, providing some relief as it continues to struggle with a property market slump.
"The (Indian) market ends the fourth consecutive year with gains and all the sectoral indices closed in the green this year. Going ahead, it would start the New Year with its cautious sideways movement as Omicron spreads rapidly, both in India and globally."
However, Khemka remains optimistic and expects Nifty to deliver around 12-15 per cent returns in 2022, supported by the continuation of economic recovery and strong earnings growth.
Reacting to the GST Council's decision on deferment of tax hike on textile products, most textile stocks jumped later in the day.
Stocks such as Bhilwara Spinning, Salona Cotspin, SPL Industries, GTN Textiles, Digjam, and Bombay Dyeing rallied sharply, rising 4.9 per cent, 8.9 per cent, 5.5 per cent, 5.0 per cent, and 2.2 per cent, respectively, data showed.
On Friday, CMS Info Systems listed on the exchanges with just 1.9 per cent premium over its issue price, NSE data showed.
However, later in the day it managed to gain some steam and settled 11.6 per cent higher at Rs 241 per scrip. It's issue price was Rs 216. CMS Info Systems is a cash management company.
"With the government's focus on digital payments, we believe that the availability and use of cash could further decline, which could adversely affect the business activities of the company," said Santosh Meena, Head of Research at Swastika Investmart.
"The investors who got the allotment can keep a strict stop loss of Rs 200 while we recommend investors to invest in the other businesses with high growth potential," Meena added.
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