Sensex finishes year above 36,000, posts third straight annual gain
Photo Credit: Pixabay

Indian shares ended nearly flat on the last trading day of 2018 amid positive global cues and a stronger rupee, but posted their third consecutive annual gain.

The Sensex closed down 0.02 percent at 36,068.33, but rose 5.9 percent for the year. The index shed 0.4 percent in December.

The Nifty ended 0.02 percent higher at 10,862.55. It rose 3.2 percent for the year, but fell 0.13 percent for the month.

Indian markets outperformed most Asian indices which ended the year in the red, according to Refinitiv data.

Asia markets

Asian stock markets ended 2018 with negative returns in dollar terms, weighed down by trade tensions and slowing profit growth.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 16 percent this year in its sharpest drop since 2011.

Chinese equities were the top losers in the region, shedding about 29 percent in dollar terms, followed by Pakistan and South Korea.

This year's sharp declines have made regional stocks cheaper which could prompt bargain-hunting, some analysts said.

South Korean equities were the cheapest in the region with a forward price-to-earnings ratio of 8.8, followed by China's 9.9, Refinitiv data showed.

Leave Your Comment(s)