The Nifty managed to close above the 5K mark as huge buying continued to see in pharma, IT and oil & gas stocks which kept the market momentum going. The Sensex closed up 160 points at 16,853 after trading in the narrow range of 16,907 - 16,802. The Nifty shut at 5,007 up 48 points or 0.97%. Among the broader indices, midcap and smallcap were also up 1% each. The breadth remained strong for the entire session but the market total turnover were lower at 65,365 cr. The Oct Nifty future ended with 10 points discount.

The BSE IT index was up over 2%. Stocks like Patni Computer, Mphasis, TCS, Oracle Financ and NIIT were up 3-6%. Infosys was up 2.2% and Wipro up 2.6%.

The BSE healthcare index was up over 1.6 %. Abbott India and Solvay surged over 17 % each while Dishman Pharma was up nearly 10 %. SunPharma up 5.5%, Cipla up 4.6% and Glenmark were up 3%.

In the Oil & gas sector Essar Oil, ONGC, GAIL, Reliance and RNRL were up 1-3%.

In the banking pack Yes Bank, Kotak Mah, ICICI Bank, Canara Bank and Bank of India were up 2-4%.

In the Cap goods sector SKF India, Everest Kanto, Punj Lloyd, Bharat Bijlee and Rel Ind Infra and Behl were up 1-5%.

Top gainers on the Sensex were Sun Pharma at Rs 1,390 up 6%, TCS at Rs 610 up 4%, ICICI Bank at Rs 865 up 3%, Wipro at Rs 582 up 2.71% and ONGC at Rs 1,186 up 2.5%.

However, top losers on the Sensex were SBI at Rs 2,090 down 2.26%, Grasim at Rs 2,788 down 1.6%, Jaiprakash Asso at Rs 234 down 1.35% and Telco at Rs 590 down 0.35%.