Sensex at 5,428, 4-month high

Institutional buying in pharmaceutical, technology and cement stocks pulled the Bombay Stock Exchange (BSE) Sensex way beyond the 5,400 mark, to a 4-month high of 5428.77 at close. Registering the eighth day of uninterrupted gains, the Sensex ended 31.31 points higher.

Among sectoral indices, the IT index was up 1.64 per cent and the BSE Bankex index was up 0.97 per cent.

The Bharti Tele-Ventures scrip was the biggest gainer in the 30-scrip Sensex basket, gaining 4.65 per cent to Rs 146.15, followed by Hero Honda which gained 3.75 per cent to Rs 462.90.

Grasim gained 3.04 per cent to Rs 1193.85, while Satyam Computers was up 2.95 per cent to Rs 389.50 and Zee Telefilms was up 2.51 per cent to Rs 147.15.

"The markets look attractive at current levels, with FIIs putting in a good amount of money into Indian equities. Even if there is a brief correction, it should be seen as a opportunity to enter at lower levels," Deven Choksey, managing director of brokerage KR Choksey, said.

The HLL stock was down 1.48 per cent to Rs 119.95, Tata Steel was down 1.47 per cent to Rs 263.85, ITC ended 1.35 per cent lower to Rs 1,086.05 and Tata Power was down 1.07 per cent to Rs 287.65.