Markets end higher in listless trade

Markets moved in a tight range for most of the day before closing marginally higher on positive cues from Europe. The BSE Sensex closed the day higher by 76 points, while the Nifty closed the day higher by 24.75 points at 5327 points.

Shares of retail companies were in the limelight today following reports that the government may push through FDI in multi brand retail as soon as the Presidential elections are complete. Among the shares that gained in trade today were ITC, Cipla and IDFC. Shares of Deccan Chronicle fell after there were reports that the company's debt was downgraded to junk following a default.

Among the shares that lost ground today were Asian Paints, ONGC, Bajaj Auto and Dr Reddy's Laboratories.

In Europe shares were trading firm ahead of the ECB's meeting to decide on interest rate cuts. The UK's FTSE, the French CAC and the German DAX were all trading higher. Markers are expected to remain rangebound in the absence of any major triggers, especially domestic triggers and might track global cues.

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