The key benchmark swung between gains and losses but finally closed higher today. After opening on a flat note indices remained under pressure and slipped lower in the first half. Finally, a late bout of buying across realty, oil & gas, metal, industrial, auto, and energy and utilities stocks lifted the benchmarks although the FMCG counters continued to trade soft. Nifty closed with a gain of 20 points at 8,611, while BSE Sensex ended with a gain of 38 points at 27,866.

On the global front, Asian stocks fell today as the rally in oil prices subsided and growing worries about the European banking system hit financial shares.

China’s Shanghai Composite index inched up 0.23% to 3,005.51 after a private gauge of Chinese factory activity pointed to a modest expansion in September, adding to recent signs of stability. Hong Kong’s Hang Seng and Japan’s Nikkei slipped over 1.5% each.

European stocks are trading lower. The FTSE 100 is down 0.89% while the CAC 40 and DAX have tumbled 1% each.

Cipla dropped 3.4% after the company said the US health regulator issued four observations across three facilities in Goa.

Liquor stocks rallied on the BSE after the Patna HC struck down the Bihar Prohibition of Liquor Act, calling it illegal. United Spirits closed above 6%. United Breweries zoomed 2%.

Alkem Laboratories Ltd tanked 8% after the company received 13 observations from the US Food and Drug Administration (USFDA) after the regulator inspected its manufacturing facility at Daman.

Yes Bank gained 1.9% on its plans to raise up to Rs.2,500 cr by issuing long-term bonds on a private placement basis.

NHPC zoomed 3% after the company signed a power purchase pact with the Government of Rajasthan as well as Inox for a 50 MW wind power project in the state.

Sintex Industries jumped 7.4% to Rs.78 after the company said its board has approved demerger of custom moulding business and prefab business from its two arms Sintex BAPL and Sintex Infra Projects, respectively.

The rupee was trading up by 24 paise at 66.61 per US dollar.

Out of 1,421 stocks traded on the NSE, 1,186 declined and 215 advanced today.

Top 5 Nifty Gainers: Maruti Suzuki (3.72%), M&M (3.06%), Adani Ports & Sez (2.98%), Hero MotoCorp (2.65%) and Sun Pharma (2.34%)

Top 5 Nifty Losers: TCS (-0.66%), Infosys Ltd (-0.61%), Wipro (-0.24%) and ONGC (-0.10%)

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