Mumbai: The BSE Sensex today closed above the 19k level after a gap of 2 months as it gained 178 points, up for the sixth session in a row on sustained FII buying, amid further easing of oil prices that reduced fears of inflationary pressure and hike in interest rates. Sensex has zoomed about 1,281.75 points or 7.18 per cent in the last six tradings. The Bombay Stock Exchange 30-share barometer opened higher and moved in the positive terrain throughout the day. It touched a high of 19,226.21 after mid-session, but sudden bouts of selling at the fag-end pulled it down to close at 19,120.80 -- the level not seen since January 24. It rose 177.66 points or 0.94 per cent. The NSE 50-issue Nifty also firmed by 49.10 points or 0.86 per cent to end above the 5,700-mark, at 5,736.35. Buying was seen across segments as all sectoral indices closed with gains of between 0.11 per cent and 1.53 per cent with auto, metal and IT counters taking the lead. FIIs, the main market movers, are back with a big bang and they have picked up shares worth Rs 3,460.11 crore since March 22. Marketmen said that further easing of crude oil prices have reduced fears of a sharp rise in inflation and worries that a steep hike in interest rates would be needed to tame prices. Oil extended losses in New York after Libyan rebels advanced against Muammar Gaddafi's troops, raising speculation the conflict may be resolved soon. The crude fell 0.8 per cent to 103.18 dollar a barrel. Besides, they said, short-coverings ahead of the expiry of March series of derivatives on coming Thursday too boosted the sentiment. However, the added that fiscal-end churning of positions by traders may lead to volatility. "The Indian markets could witness wild gyrations in view of the derivatives settlement on Thursday and year-end tax adjustments," said IIFL Head Research (India Private Clients) Amar Ambani. "Also, the lack of participation by the non-index stocks in the current rally is a cause for concern," he added. Ambani said, however, that on the whole the undertone for the Indian market is likely to remain upbeat as long as the Nifty sustains above 5650. The next big obstacle is seen around 5800, he added.