Sensex ends up 171pts

The Sensex ended (provisional) at 19461 - up 171 points. Nifty ends up 46 points at 5,833.
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(Updated at 1446 hrs)

Markets pared gains in late-noon trades as crude oil prices rose and on pressure in banking names. Earlier in the day, the Sensex touched a high of 19,575 on positive cues from Asian peers. However, it gave up some of its gains in mid-noon trades ahead of the derivatives expiry. The Sensex was down flat at 19,297. Nifty was down marginally at at 5,788.

Meanwhile, the broader markets underperformed the benchmark and slipped marginally in trades. BSE IT index led gains in the sectoral chart - up 1.5% at 6,517. FMCG, oil & gas and power indices were also in green. However, BSE benchmark shed 1.3% at 13,209.

Foreign institutional investors continued to buy funds in India. The FIIs had bought shares worth Rs 4,552.20 crore till Wednesday.

Worries about the continuing crisis in Libya played spoil-sport as crude oil prices went up. Brent crude was trading at $116 per barrel.

IT stocks gained on hopes of strong revenuews. Corporates will be reporting their sales and profits for the financial year, next month. TCS gained 3% at Rs 1,187. Infosys jumped 1.6% to Rs 3,223. Patni Computers and Tech Mahindra were up marginally in trades.

Auto stocks were up ahead of their monthly sales data. Hero Honda jumped 2.7% at Rs 1,594. Bajaj Auto added 1.3% to Rs 1,438.

ONGC gained 2% at Rs 288. The stocks has been gaining since announcing that they have won 10 blocks in the ninth round of oil and gas block auctions on Monday. Among other gainers were FMCG heavyweight - HIndustan Unilever and ITC. Larsen & Toubro, BHEL, Jindal Steel and Sterlite were up as well. Reliance Industries was up 0.5% at Rs 1,038.

However, SBI shed 3% at Rs 2,772. HDFC Bank slipped 0.6% while ICICI Bank dropped 0.4% in trades. Cipla, Reliance Communiations, Mahindra & Mahindra, Jaiprakash Associates and Tata Motors were also in red.

The BSE market breadth was negative. Out of 2,866 stocks traded, 1,465 declined while 1,286 advanced.