Closing Bell: Markets end over 1% lower on last day of FY21; Nifty up 71% for the year

"Weak cues from across the globe forced the domestic market to shed yesterday’s optimism. US markets had a weak close after the US bond yield reached near its 14 month high level while European and Asian markets followed the trend. Private banks were the sectorial laggards due to selling seen in heavyweights," said Vinod Nair, Head of Research at Geojit Financial Services.

For the day, broader markets outperformed benchmarks with the midcap and smallcap indices up around 0.3 percent each. This is similar for the FY21 period as well, both midcap and smallcap indices rose over 100 percent each, outperforming the benchmarks.

On the Nifty50 index, Tata Steel, UPL, Grasim, Bajaj Finserv and ITC were the top gainers for the day while HDFC Bank, HDFC, Powergrid, Tech Mahindra and Coal India led the losses.

As for FY21, only 1 stock - Coal India ended in the red while the remaining 49 were in the green for the year led by Tata Motors, Hindalco, JSW Steel, Tata Steel and Grasim.

Among sectors, Nifty Bank and Nifty Fin Services fell 1.5-2 percent each for the day while Nifty IT also lost 1 percent. Meanwhile, Nifty FMCG rallied 1 percent while Nifty Metal and Nifty Pharma were up around 0.5 percent each.

For FY21, the metal, auto, realty and IT indices rose the most, up over 100 percent each while pharma, banking and Finance rose over 65 percent each. No sector ended in the red in FY21.