The Sensex, after a sharp fall yesterday, resumed with a gain of 26 points at 5,970. Stock-specific activity in early deals lifted the Index to an intra-day high of 5,985, but soon slipped into the red as selling commenced in most of the sectors.

Select heavyweights, PSUs, auto and pharma counters came under the grip of sustained selling pressure in afternoon deals, and dragged the index below the 5,900 levels to a low of 5,870.

The Sensex, however, shrugged off its losses towards the closing bell on a late bout of buying in Reliance, BHEL and cement counters, and finally concluded with a small gain of 13 points at 5,957. The Nifty bounced from a low of 1,888, but still ended 10 points lower at 1,917.

Reliance, on fresh buying support towards the closing deals, jumped 2% (Rs 11) to Rs 580. ITC at Rs 1,022 (down Rs 6) and HLL at Rs 210 (down Rs 3) ended in the losers list on selling pressure.

Grasim (up Rs 52 or 5% to Rs 1,050), L&T (up Rs 13 or 2% to Rs 535), Gujarat Ambuja (up Rs 6 or 2% to Rs 315) and ACC (up Rs 4 or 2% to Rs 266) notched up significant gains on a subdued market today.

Infosys (up Rs 19 to Rs 5,674) and Wipro (up Rs 16 to Rs 1,693) ended with gains. Satyam closed up a tad at Rs 358 after remaining weak for better part of the trading session.

MTNL witnessed sustained selling pressure, and slumped 4% (Rs 6) to Rs 142. While HPCL ended in the red with a loss of Rs 3 at Rs 450, SBI was down a rupee at Rs 596. BHEL, however, on renewed buying support towards the fag-end, advanced 3% (Rs 16) to Rs 551.

Bajaj came under sustained selling pressure, and dropped 4% (Rs 45) to Rs 1,060. Tata Motors ended a per cent lower (Rs 5) at Rs 447. Hero Honda, however, bounced from its lows, and ended up a per cent (Rs 3) at Rs 448.

Dr. Reddy's lost 2% (Rs 30) to Rs 1,412. Cipla and Ranbaxy closed down a per cent each at Rs 1,311 (down Rs 14) and Rs 1,069 (down Rs 9), respectively.