Sensex Ends Last Day of 2014 on a High; Gains 31% for the Year

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The Sensex and the Nifty ended the day higher on the last day of the year, clocking gains of almost 31% for the calendar year. The Sensex now remains the best performing market of 2014 among Asian markets after China.

Sensex Ends Last Day of 2014 on a High; Gains 31% for the Year
Today's gains were driven by stocks from the metal space with Tata Steel, Hindalco and Sesa among the gainers. Auto stocks lost ground after reports suggested that there may be a hike in excise duty. Bajaj Auto, Mahindra and Mahindra and Tata Motors were the stocks that lost ground.

Banking stocks saw gains with Axis Bank, State Bank of India and Punjab National Bank seeing buying support. Dealers say that interest in banking stocks continued on hopes that there would be a cut in interest rate going forward. Shares in KEC International rallied after the company won an order worth Rs 1,412 cr in T&D & cables business.

Realty stocks which gained after the ordinance on the land acquisition law gained ground for a second day in a row. D B Realty closed at the upper end of the circuit filter.

Shares in Mangalore Chemicals rallied after the Zuari Group raised open offer size to buy a stake in the company. Meanwhile, markets in Asia closed higher while most of Europe was trading with gains.

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