Overcoming initial sluggishness, the benchmark CNX-Nifty today held on to the 6,000-mark with marginal gain due to late buying in oil and energy stocks at the National Stock Exchange (NSE).

The 50-share Nifty fluctuated between a high of 6,020.75 and a low of 5,981.55 before settling at 6,016.15, a rise of 6.65 points, or 0.11 per cent, over the last close. Buoyed by strong foreign funds inflow, the key index reclaimed the psychological 6,000 mark to close at a two-year high yesterday.

Market got off to a weak start following bearish global sentiment amid modest profit-taking in frontline FMCG, metal, auto and select banking stocks. It remained choppy and witnessed lacklustre movements till mid-afternoon.

However, the key index regained some momentum towards the tail-end, led by buying in oil and gas and select technology stocks, and ended with modest gain. Energy stocks were the best performers, rising on hopes of a pricing formula and some radical policy reforms in the oil sector to cut down ballooning fiscal deficit.

The Oil Ministry’s move to allow Reliance Industries and Cairn India to explore for oil & gas within the producing fields, subject to certain conditions, boosted the sentiment.

Globally, most Asian stocks ended lower, dampened by the overnight sell-off in US equities amid speculation that the Federal Reserve will bring an end to quantitative easing measures early this year.

Cairn, BPCL, BHEL, GAIL, IDFC, Wipro, TCS, HCL Tech, ONGC and PNB were the top Nifty gainers. The losers included Tata Steel, Jindal Steel, Sesa Goa, Hindalco, Tata Motors, Axis Bank, HDFC, Bajaj Auto, Kotak Bank and L&T.

Turnover in cash segment advanced to Rs 12,595.11 crore from Rs 12,461.51 crore yesterday. A total of 9,083.39 lakh shares changed hands in 63,46,019 trades. The market capitalisation stood at Rs 69,29,323 crore.