Sensex consolidates; oil & gas, FMCG, cap goods slip

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 30/05/12 Are Mutual Funds betting on Nifty?

At 10:42 hours IST - the benchmark Sensex was trading marginally higher amid volatility. Technology, metal, financial, auto and realty companies' shares were helping the markets.

However, oil & gas, FMCG and capital goods companies' shares along with NTPC, Axis Bank, Reliance Communications, Sun Pharma, Hero Honda, Tata Power, ACC, IDFC and Kotak Mahindra Bank were putting pressure on the markets.

Laurence Balanco of CLSA said, "The Nifty has managed to push above the 50 DMA and is now testing double top resistance at the 5,300-5,398 area."

Asian markets were quite supportive; Nikkei jumped 2%. Jakarta, Straits Times and Kospi gained 1% each.

The Sensex was trading at 17445, up 34 points and the Nifty was at 5227, up 5 points. The broader indices gained 0.5% each.

About 1915 shares advanced while 1176 shares declined on the BSE. Nearly 220 shares were unchanged.

Top gainers - Tata Motors was trading at Rs 780.30, up 2.71%; Sterlite Industries was at Rs 693.60, up 2.63%; M&M was at Rs 622.30, up 2.33%; Idea Cellular was at Rs 55.30, up 1.75%; Cairn India was at Rs 310, up 1.56%; Reliance Infrastructure was at Rs 1,200, up 1.46% and HDFC was at Rs 2,896.20, up 1.29%.

In the midcap space, MTNL, Gammon Infra, UB Holdings, Aban Offshore and Honeywell Automation gained 5-9.5% while Sadbhav Engg, Kwality Dairy, Syndicate Bank, Novartis India and Godrej Property fell 1.7-6.9%.

In the smallcap space, TTK Prestige, C & C Construction, Resurgere Mines, Sahara One and Hitachi Home went up 7-16% while Elpro Int, Kanani Industries, Lok Housing, Disa India and Subhkam Capital lost 5%.

Reliance Natural Resources, TTK Prestige, Sesa Goa, Aban Offshore, Reliance Capital, Tata Motors, Reliance Infrastructure and Sterlite Industries were the most active shares.