After a weak start, Indian indices gained momentum and Nifty hit its highest level breaching 14000 mark for the first time and towards the close of the trading session, indices hovered near record high, hit earlier in the day but were mostly weak. Nifty Bank was down 0.2%, while the broader markets were trading strong with gains of 0.5% on the Nifty Midcap 100 index.
Nifty at close was unchanged at 13981.75 while Sensex gained 5 points or 0.01% to 47751.33.
Among top gainers on the last trading session of 2020 have been stocks like HDFC, Hindalco, Sun Pharma, ICICI Bank and Divis Labs, while laggards include Shree Cements, Bharti Airtel, TCS, Ultratech and Tech Mahindra.
ICICI Bank in the intra-day trade hit a 10-month high and nears 52-week high price of Rs. 550 struck on February 2, 2020, on strong growth going forward.
Jubilant Foodworks inked a share subscription agreement to acquire 10.76% stake in Barbeque Nation Hospitality Limited. The scrip traded higher by 4% and hit day's high of Rs. 2804.65 apiece.
Also, Reliance Jio will make voice calling free in India from January 1 as TRAI shifts to bill and keep regime, thereby ending interconnect usage charges (IUC) for all domestic voice calls.
Meanwhile, European indices lost ground on the last trading day of the year because of profit booking and as the news came in that the US has raised tariffs on some EU products and on account of wider lockdown in Britain. London's FTSE at the time of writing this copy traded weak by 1.69%. Also, US stock futures point to a flat to negative opening in the US markets.