NIfty closes above 5400

After trading in the red zone for most part of the day, the Indian markets recovered smartly and closed in the green zone. The Nifty closed above the psychological 5400 mark, as buying was seen in the last hour of trade. Among the sectors, Bankex and Metals were the leading index gainers, closing almost 2% higher. Auto, Realty and IT also witnessed some buying, resulting them to close higher. On the other hand, Oil & Gas and Healthcare closed marginally in the red zone.

Other Asian markets also had a narrow trading day. Hang Seng and Nikkei closed in the red zone, while Shanghai closed marginally green.

The European markets have continued to hold their morning gains, as investors are speculating that the Greek debt talks will see some positive results.

Dow Jones Futures is currently trading 28 points or 0.22% up at 12859, indicating a positive sentiment in the US markets.

Back home, Metals stocks shone the most, with Sterlite Industries and Jindal Steel as the leading index gainers, up 4.59% and 3.81% respectively. Other stocks like ICICI Bank, HDFC Bank, Wipro, Bajaj Auto and Tata Power closed the session higher in the range of 2%-3%. Hero MotoCorp, Coal India, Cipla, Tata Steel, BHEL, etc. closed the session marginally in the green zone. On the other hand, Sun Pharma was the leading index loser, down 1.36% at Rs 541.95. Hindalco recovered from its day's low, but closed the session 1.31% lower at Rs 158.75. Other stocks like ITC, RIL, ONGC and GAIL India were some of those which closed marginally in the red zone.

For tomorrow, investors should watch out for stocks like Tata Power, R Comm, BPCL, Britannia, DLF, Pantaloon Retail, IDFC and JSW Steel, as these companies are going to declare their Q3 FY12 numbers.

In conclusion, we expect the markets to continue to remain volatile. Investors are jittery about investing in markets that fail to provide any concrete direction.