The 30-share Sensex signed off the Vikram Samvat 2063 in style on Thursday by posting an impressive annual gain of 6,349.53 points or 49.95%. This is one of the biggest gains by the BSE benchmark index since the bull run began in 2004. In calendar year 2004, the Sensex yielded an annual return of 13.07%, while the following year, it gave 42.3% and in CY06 the index gained 46.70%. However, on Thursday, the domestic bourses fell in tune with its global peers following the overnight sharp fall in the US Dow Jones IA on the backdrop of rising crude oil prices and credit market worries. As a result, the Sensex ended the day 230.90 points lower but managed to close above 19K level at 19,058.93 points, losing 1.20%. On the other hand, the Nifty ended the day at 5,698.75 points, down 83.6 points or 1.45%.
Most Asian markets traded low in the range of 0.50% to 4.75% with Japan?s Nikkei 225 hitting its two-month, closing at 15,771.57 points, losing 325.11 points or 2.02% as the yen firmed up against the dollar. Shanghai Composite was the biggest loser among the Asian indices, down by 4.85% or 271.76 points at 5,330.02 points, while Hang Seng closed at 28,760.22 points, down 3.19% or 948.71 points. Sreesankar R, head of research, IL&FS Investsmart, said, ?In the near term, the market will be under pressure and we could expect high volatility as the market is looking expensive and global cues are unfavourable. However, global liquidity is still strong and will drive the markets higher in the long run.? Foreign institutional investors were net sellers worth Rs 1,356.53 crore while domestic institutional investors were net buyers to the tune of Rs 283.32 crore on Thursday as per the provisional figures released by stock exchanges.
