The Sensex opened above the 5,300 levels with a gain of 22 points at 5,307, and moved with steady gains on stock-specific activity to touch a high of 5,317 in the opening session. The markets faltered in the afternoon session on sustained selling pressure, particularly in heavyweights, and slipped to a low of 5,254.

The Sensex, however, recovered from its losses on a late bout of buying in PSUs and other select old economy stocks, and ended with a gain of 14 points at 5,300. The Nifty, too, had a mixed outing, and added eight points to close at 1,695.

SBI gained ground towards the fag-end, and advanced 2% (Rs 10) to Rs 474. HPCL rose 3% (Rs 13) to Rs 404. BHEL, after a mixed outing, ended down a per cent (Rs 5) at Rs 450.

Hindalco and HDFC Bank surged 3% each to Rs 1,330 (up Rs 38) and Rs 351 (up Rs 10), respectively. HDFC and ICICI Bank raked in 4% gain each to Rs 613 (up Rs 24) and Rs 284 (up Rs 10) on sustained buying support. ONGC attracted buying support, and ended 2% higher (Rs 11) at Rs 693.

ITC ended down a per cent (Rs 8) at Rs 974. Reliance slipped from higher levels to finish down a per cent (Rs 7) at Rs 492. HLL closed down a rupee at Rs 187.

Dr. Reddy's and Cipla dropped 2% each to Rs 1,365 (down Rs 23) and Rs 1,194 (down Rs 25), respectively. Ranbaxy lost a per cent (Rs 13) to Rs 1,071.

Grasim (down Rs 3 to Rs 904) and ACC (down Rs 2 to Rs 221) ended with marginal losses. L&T, however, closed up a per cent (Rs 3) at Rs 439. Gujarat Ambuja was up a rupee at Rs 292.

Hero Honda added Rs 3 to Rs 400. Bajaj ended off-gains with a loss of Rs 3 at Rs 1,023, while Tata Motors lost nearly 2% (Rs 6) to Rs 415.

Wipro exhibited firm trend on sustained buying support, and logged 2% gains (Rs 35) to Rs 1,634. Infosys and Satyam, however, ended with marginal losses at Rs 4,973 (down Rs 2) and Rs 336 (down a rupee), respectively.