Markets continue firm trend; Reliance supports

Markets continued to exhibit a firm trend with the BSE Sensex rising 115.53 points (provisional) to close at 18404 (provisional) points, with NSE Nifty closing the day at 5607.15, a rise of 42.85 points.

Reports that Euro zone's finance ministers agreed on a second bailout for Greece helped improve sentiments.

BHEL remained amongst the top gainers after reports suggested that the government was considering a 19% import duty on power equipment's for mega projects.

Among the other gainers included Hindalco, ONGC and Reliance Infrastructure. Among the prominent losers were HDFC Bank, Tata Motors and Maruti Suzuki.

Marketmen expect the indices to now remain steady at the current levels, given that the Greece crisis is at least temporarily behind.

All eyes are now focused on next month's Union Budget and the Credit Policy, which should largely determine directions for the market.

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