Sun Pharma scrip surged to an all-time high of Rs 586.80 and closed at Rs 583.50 on hopes of higher sales of a key cancer drug following reports the drug is likely to be in short supply soon.
The S&P BSE Sensex moved up by 37.61 points to 19893.85. Among the sectoral indices, healthcare stocks gained the most with 0.84 per cent, followed by power (0.82 per cent), capital goods (0.63 per cent) and fast moving consumer goods (0.56 per cent). Oil & gas was the worst hit with a fall of 1.14 per cent followed by consumer durables (0.99 per cent) and realty (0.61 per cent).
“The Sensex stayed range-bound and appreciated slightly, appearing to teeter around the all important 20000 mark. There seems to be strong resistance at this benchmark point; if the Sensex can rally through the resistance point, then we can expect an upward surge in the near future,” said Raghu Kumar, co-founder, RKSV, a leading broking firm.
On the National Stock Exchange, the 50-share Nifty closed at 5882.25 with a gain of 8.40 points.
“We expect some correction in the October series. Weak rollovers indicate lack of long aggression,” Sahaj Agrawal, Deputy Vice-President-Derivatives Research, Kotak Securities, said.