Benchmark BSE Sensex and NSE Nifty closed on a bearish note on the last trading day of 2022 due to fag-end selling in select banking, IT and capital goods shares.

The key indices, however, posted annual gains of over 4 per cent in 2022 to emerge as the world’s best-performing large market indices.

 Stock markets opened on a bullish note on the last session of the year and traded in green in the most part of the day. Gains in Asian markets also supported the local equities. Sensex rose by 258.8 points or 0.42 per cent to an intra-day high of 61,392.68 while Nifty touched a high of 18,265.25 points. The market lost steam after weak opening in European stocks with the indices paring all gains.

 The 30-share BSE Sensex closed down 293.14 points or 0.48 per cent at 60,840.74. The broader NSE Nifty declined 85.70 points or 0.47 per cent to end at 18,105.30.

 The BSE barometer closed 2022 with an annual gain of 4.44 per cent or 2,586.92 points while the Nifty ended the year higher by 4.32 per cent or 751.25 points. Sensex touched its all-time high of 63,583.07 points on December 1 after hitting its 52-week low of 50,921.22 points on June 17.

 Sensex jumped 10,502.49 points or 21.99 per cent last year.

 “On the last day of a tumultuous year, domestic indices shed their early gains as negative signals from global peers pushed indices lower. Investors remained concerned over the economic outlook for the new year, underpinned by growing fears of recession,” said Vinod Nair, Head of Research at Geojit Financial Services.

 “The ongoing volatility is expected to be sustained in the near-term because of high interest rates and a slowing economy,” Nair said.