Sensex reaches 1-mth high on 5-day upmove, Cipla leads

Sensex consolidated its gains after rising 332 points in the previous four trading sessions amid global stock markets remaining mostly mixed as investors remained cautious ahead of US Presidential polls and a Greek parliamentary vote on key austerity measures.

Brokers said there was stock-specific action on better earnings by Indian companies and foreign funds bought shares after a steep fall in rupee yesterday. It, however, was last trading at 54.45, up 16 paise from 54.61 a dollar on Monday.

The 30-share Sensex moved in a narrow range of over 100 points before ending with rise of 54.51 points or 0.29 per cent at 18,817.38 -- the highest since the index closed at 18,938.46 on October 5.

Buying in HDFC, SBI, HDFC Bank, Cipla, ITC and ICICI Bank mainly supported the Sensex's rise. L&T, TCS, Maruti and Hindalco were, however, among major losers in Sensex.

"Cipla was up by about 4 per cent following its robust Q2 numbers. Banking and power were the other major gainers. Auto sector was down today," said Nidhi Sarswat, Senior Research Analyst, Bonanza Portfolio.

After market hours yesterday, Cipla had posted a 61.8 per cent rise in consolidated net profit at Rs 500.01 crore for the second quarter ended September 30.

Banking and financial shares -- HDFC, SBI and HDFC Bank -- gained on hopes of robust loan demand during festivals, said analysts. Influential scrips RIL and Infosys also ended up.

Overall, the stock markets saw rise in realty and banking sectors while auto and capital goods saw some selling.

The 50-share NSE benchmark Nifty closed 20.20 points, or 0.35 per cent, higher at 5,724.40. (MORE)