Mumbai: It was a strong start to the October series as the NSE Nifty closed about its psychological 5700 mark. Strong buying was seen in auto, metal, power and FMCG stocks. Reliance, ITC, ICICI Bank, HDFC and L&T were major contributors to the Sensex while Infosys, HDFC Bank, SBI and BHEL were negative contributors.
The Sensex was up 183.24 points or 0.99 per cent at 18762.74. It has touched an intraday high of 18869.94 and an intraday low of 18698.51. The Nifty was up 47.85 points or 0.85 per cent at 5697.35. It has touched an intraday high of 5,735.15 and an intraday low of 5,683.45. About 1620 shares were advanced, 1227 shares declined, and 606 shares unchanged.
Saurabh Mukherjea, head of equities, Ambit Capital sees the BSE Sensex at 23,000 levels in the next 12-18 months. He expects a 5 per cent upmove in the market before the Winter Session of the Parliament.
VK Sharma of HDFC Securities feels the October series feels 5,600 is going to act as a good support. "It may cross the 5,850 psychological hump that people have in their minds," he explained
Meanwhile, top gainers on the Sensex were Hindalco at Rs 120.50 was up 3.39 per cent, Tata Motors at Rs 267.45 was up 2.96 per cent, Cipla at Rs 380.60 was up 2.50 per cent, Sun Pharma at Rs 693.30 was up 2.44 per cent and Tata Power at Rs 106.95 was up 2.30 per cent.
However, top losers on the Sensex were Infosys at Rs 2,534 was down 0.58 per cent, BHEL at Rs 246.85 was down 0.56 per cent, SBI at Rs 2,237.90 was down 0.39 per cent, GAIL at Rs 383.05 was down 0.22 per cent and HDFC Bank at Rs 628.70 was down 0.14 per cent.
Pharma stocks were in focus in today's trade as the GoM finalised the pharma pricing policy under which 348 essential drugs will come under price control of the government. Cadila Health, Sun Pharma, Cipla and Dr Reddys Labs were up 1.5 to 3 per cent.
Kingfisher Airlines was down 4 per cent, at the lenders meet Yesterday, KFA did not come up with any new plan for re-capitalisation.
Most active shares on BSE were United Spirits, SBI, ICICI Bank, HDIL were L&T.
Top percentage gainers on the BSE - Future Market, Birla Corp, ARSS Infra, Crest Animation and Essar Sec were up 15-19 per cent.
Top gainers on the BSE Midcap - Birla Corp, Tata Global Bev, Vakrangee, Shipping Corp and Anant Raj Ind were up 7-20 per cent.
Top losers on the BSE Midcap - Shree Global Tr, AIA Engineering, Jaypee Infra, Delta Corp and Glodyne Techno were down 3-4 per cent.
Top gainers on the BSE Smallcap - Dalmia Enter, TRF, Oricon Enterpr, Noida Toll and Aegis Logistics were up 10-14 per cent.
Top losers on the BSE Smallcap - UB Holdings, Plethico Pharma, Kemrock Indus, Commex Tech and Talwalkars Fitn were down 5-8 per cent
The rupee gained 35 paise to trade at nearly five-month high of 52.67 against the dollar in early trade on Friday on continued selling of the dollar by exporters and banks. "Since it is the quarter end, we are definitely seeing some exporter booking of forward contracts," Agam Gupta of Standard Chartered Bank told CNBC-TV18 explaining the movement of rupee.
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