Markets Close on a Positive Note

The markets closed the day on a high with the Nifty closing up 88 points at 5,561 and the Sensex ended at 18,506 gaining 274 points. The gain was mainly led by Realty, FMCG and Banking indices gaining more than two percentage points. The market breadth was positive with 1831 advances as against 1001 declines on BSE. India’s economy grew at the slowest pace in five quarters as manufacturing and services cooled, a moderation that has yet to curb pressure for more increases in interest rates to damp inflation. On the global front, European stocks climbed after the euro rallied to a three-week high as investors speculated that European officials will sanction additional financial assistance for Greece. U.S. futures and Asian shares advanced.