Nifty ends last day of the year with minor loss

New Delhi, Dec 29: Domestic equities gave up its five day winning streak and ended the last day of the year on a flat note amid profit booking in select heavyweights, says Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

Nifty remained in negative territory throughout the session and closed with minor loss of 22 points at 21731 levels. However, broader market outperformed with Nifty midcap 100 and Nifty Smallcap 100 up 0.8 per cent and 0.6 per cent respectively.

Sector-wise, it was a mixed bag with buying seen in Auto, FMCG, Realty and Metals.

Auto and EV stocks recorded a smart rally after the news that the government is working on a plan to replace 8,00,000 diesel buses with electric ones over next seven years, he said.

Joseph Thomas, Head of Research, Emkay Wealth Management said after an ebullient market which touched life-time highs, fostered by strong economic numbers and good inflows from overseas investors, and prospects of lower interest rates, witnessed some amount of correction on the last trading day of the week.

Some selling was witnessed in large cap stocks, mainly in the Banking , Tech, and Oil & Gas sectors, he said.