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Indian stock market daily closing report (September 28, 2012)

Contributed by Nirmal Bang

The Indian markets started the October series with a smart rally. Across the board buying was observed in the markets today. Buying interest is observed mainly in auto stocks on the hope of improvement in sales ahead of festival session. Pharma stocks were in focus today as the government announced the pharma pricing policy today under which 348 essential drugs will come under price control of the government. Tata Global Beverages gained 8% today, on the news that the Tata Starbucks, the 50:50 joint ventures between the company and Starbucks Coffee Company will open their first store in India by the end of next month.

The breadth of the market was positive in today’s trade.