The Financial Express

Indian stocks end 2017 in celebratory mood

Published: December 30, 2017 12:12:07 | Updated: January 02, 2018 13:05:40

File Photo (Reuters) File Photo (Reuters)

Indian stocks markets maintained 2017's celebratory mood through to the year's last day of trading on Friday, with the Sensex closing at a record high.

Sensex jumped amid robust equity shopping by both domestic and foreign institutional investors (FIIs).

The Sensex rose 0.62 per cent with Tata Motors, Axis Bank and Tata Consultancy Services BSE 2.72 per cent logging gains of about 3.0 per cent each.

The BSE Sensex ended 2017 with a gain of 29.58 per cent while the NSE Nifty rose 30.28 per cent, reports Economic Times.

India was the third best emerging market in the world this year after Argentina and Turkey, according to Bloomberg.

Smaller Indian stocks did even better—the BSE midcap index rose 48 per cent while the small cap surged 60 per cent in the year.

FIIs invested Rs 510.00 billion in 2017 while mutual funds pumped a record Rs 1160 billion into equities, reflecting a transformation in the country's savings culture that was triggered by demonetisation in November last year.

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