Sensex ends up 215pts, Cipla gains 5%

The Sensex opened with a huge positive gap of 147 points at 13,782, but dropped to a low of 13,581 in noon deals. Buying in banking and pharma stocks saw the index move up to a high of 13,879 in noon deals - an intra-day swing of nearly 300 points. The Sensex finally closed with a gain of 215 points (1.57%) at 13,850.

The BSE Bankex, Healthcare, Realty, Auto and FMCG indices also finished with gains. The market breadth was bearish - out of over 2,600 scrips traded, over 1,360 declined.

Cipla advanced over 5% to Rs 226. Ranbaxy was up nearly 5% at Rs 458.

HDFC Bank added nearly 5% at Rs 1,083. ICICI Bank was up over 4% at Rs 644. SBI gained over 3% at Rs 1,347.

NTPC, Maruti, HUL, RCom and TCS also finished with gains.

Satyam dropped over 4% to Rs 367. Ambuja, BHEL, L&T, Bharti and Tata Motors also declined.

Reliance Capital was the most active counter with a turnover of Rs 246 crore followed by Reliance (Rs 205 crore), L&T (Rs 196 crore), RCom (Rs 140 crore) and IDFC (Rs 128 crore).

R Sreesankar of IL&FS said the markets have already factored in the political developments. "No major reforms happen towards the end of the term of any government, and the current government is very close to that....," he added.

The markets would be more interested in looking at the corporate numbers and the guidance for the next quarters. Crude oil prices and international developments would also be keenly watched by market participants, Sreesankar added.