Sensex, Nifty close out 2021 with best gains in 4 years

Benchmark stock market indices ended positively on the last trading session of 2021 even as investors turned cautious due to rising Omicron cases.

Indian shares on Friday locked in their best year since 2017, driven by an economic recovery from the pandemic-led slump and infusion of massive liquidity, even as valuation concerns and a raging new coronavirus variant brought in some caution towards the year-end.

The NSE Nifty 50 index gained 0.87% to 17,354 and the benchmark S&P BSE Sensex rose 0.8% to 58,253.82. The NSE and BSE indexes rose 24% and 22%, respectively, for the year.