Markets have given up gains in last one hour of session and managed to end marginally higher. Frontline and broader indices witnessed profit booking at higher levels from domestic and hedge funds. Rise in crude oil price was also another reason for sell off at higher levels. Buying was seen in auto, capital goods, technology and FMCG stocks while sell off seen largely in banks, metals, power and real estate stocks at institutional desk. 

Sensex lost nearly 350 points and Nifty 100 points from days high of 15,422.82 and 4615.90, respectively but both indices did not slip into red. Sensex closed at 15,073.54, up 112.47 points or 0.75% and Nifty at 4517.55, up 14.70 points or 0.33%.

Domestic funds were booking profits in rate sensitive sectors and Hedge funds looking for exit at higher levels. Selling pressure was also seen in midcap, small cap and other broader indices, due to which market breadth turned into red. About 1394 shares have advanced while 1559 shares declined. Nearly 204 shares remained unchanged.

Amongst frontliners, Maruti Suzuki shot up 6.25%, Tata Motors 4.31%, Bharti Airtel 3.59%, ACC 3.48% and TCS 3.32% while NALCO lost 5.24%, HCL Tech -4.73%, Tata Steel -4.44%, SBI -3.79%, Siemens -3.64%, Tata Power -3.65%, Reliance Infra -3.11% and HDFC -2.82%.

In the F&O segment, profit booking has set in Nifty futures at higher levels. Premium narrowed down to 9 points from 24 points. Long unwinding was seen in momemtum stocks like RNRL, IFCI, Ispat, JP Hydro and GMR Infra. Sugar stocks saw fresh long build up. Long unwinding was seen in banking. Short build up continued in metals stock.

Auto Index outperformed other indices, gained 100.47 points or 2.63% at 3,919.64. Maruti Suzuki, Bharat Forge, Tata Motors, Apollo Tyres, M&M, Ashok Leyland and MRF jumped up 2-6%.

Capital Goods stocks like Jyoti Structure, Elecon Engg, Thermax, Crompton Greaves, BHEL, L&T and AIA Engineering were up 2-10%. Capital Goods Index ended with a gain of 203.11 points or 1.65% at 12,482.88.

IT Index rose by 45.37 points or 1.17% at 3,923.67. NIIT Tech, Mphasis, TCS, Satyam, Tech Mahindra, Wipro and Infosys have gained.

FMCG Index closed at 2,179.58, up 0.89%. Rei Agro, HUL, Godrej Consumer, United Spirits and Nestle rose 1.5-4%.

Oil & Gas Index gained 0.28% at 10,187.69. In oil and gas space, buying was seen in HPCL, Cairn India, IOC, ONGC and Reliance Ind while selling in RNRL, Reliance Petro, Essar Oil, Aban Offshore and BPCL.

Bankex ended with marginal gain of 0.24% at 7,235.38. IOB, IDBI Bank, HDFC Bank, Oriental Bank, Federal Bank, Kotak Mahindra and ICICI Bank shot up by 2-4.5%. However, Bank of Baroda, Andhra Bank, SBI, PNB, Bank of India and Axis Bank lost 2-6%.

However, Metal Index has been underperforming since Tuesdays trade, down 405.64 points or 3.06% at 12,859.19. Ispat Industries, JSW Steel, NALCO, Jindal Steel, Tata Steel and SAIL fell 3.5-6%.

Power stocks like GMR Infra, Tata Power, Torrent Power, Reliance Infra, Reliance Power, Power Grid Corp and GVK Power slipped 2-4%. Power Index lost 0.79% at 2,699.03.

Realty Index finished with loss of 32.40 points or 0.58% at 5,542.67. HDIL, Mahindra Life, Puravankara Proj, Unitech, Parsvnath, Omaxe, Ansal Properties and DLF plunged.

Healthcare Index fell 0.42% at 4,258.15. Fortis Health, Aurobindo Pharma, Lupin, Aventis Pharma, Cipla, Dr Reddys Labs, Sun Pharma, Pfizer and Piramal Health slid around 1-3%.

Most active shares on the bourses were Reliance Ind, L&T, Reliance Comm, ICICI Bank and Infosys Tech.

Crude again inched up towards USD 120 a barrel and trading at USD 119.50 per barrel on the NYMEX, at the time of writing market report.

Turnover traded in markets stood at Rs 86,962.63 crore. This includes Rs 18,596.36 crore from NSE Cash segment, Rs 61,180.08 crore from NSE F&O and balance Rs 7,186.19 crore from BSE Cash segment.
 
Asian markets were trading higher. Shanghai, Nikkei, Straits Times, Kospi and Taiwan Weighted rose 1%-2.5%.