Titan was the best winner of the Sensex pack.
The benchmark Sensex stock index rose more than 450 points on the last trading day of 2021 on Friday, driven by strong gains from Maruti, SBI and Bajaj Finance.
The 30-stock index jumped 459.50 points or 0.80% to end at 58,253.82. Likewise, the Nifty rose 150.10 points or 0.87% to 17,354.05.
Titan was the top winner in the Sensex pack, up 3.5%, 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 have lagged behind.
The Tokyo and South Korean stock exchanges were closed on Friday. Among others, the Hong Kong Hang Seng rose 1.24% while the Shanghai Composite gained 0.57%.
European stock exchanges were trading with losses during mid-session trades.
“What a year 2021 has been … The world recovered from the Covid pandemic but faced another wave of the virus spreading in March. However, Nifty continued to increase throughout the year until ‘in October, then saw a decent correction. Globally and in India, market capitalization to GDP hit an all-time high due to large cash flows, low interest rates, expectation of a rapid return to normal and poor returns from other asset classes, ”said Dhiraj Relli, Managing Director and CEO of HDFC Securities.
The transition to 2022 will see more normal monetary policy, and investors may well expect more moderate returns from financial markets. Central banks will start to raise rates but will remain more tolerant of inflation. Central banks and their assessment of economic conditions will likely be central to shaping investment strategies again in 2022, he added.
“After a great show in 2021, the valuation levels of Indian stocks could make most people cautious about India in emerging countries and Asia. Indian stocks face many challenges including the US rate cycle, rising oil prices, elections in key states, potential Covid Wave 3, an upward inflection in domestic interest rates, rich overall ratings and a strong relative trailing performance, ”Mr. Relli said.
Meanwhile, international benchmark Brent crude oil slipped 0.43% to $ 79.19 a barrel.
Foreign Institutional Investors (FIIs) were net sellers in the capital market as they sold shares worth 986.32 crore on Thursday, according to stock data.