Markets end the day higher; HDFC surges

Markets ended the day higher today, in line with European markets, which were trading higher. The Sensex closed the day higher by 75 points, while the Nifty ended the day at 5348 points, gaining 27points.

HDFC saw strong gains today on renewed buying interest in the counter. The shares of the home finance company rallied almost 3.53% in trade today. Other shares that gained today were Sterlite Industries and Maruti Suzuki The latter rose on reports that a decision on opening up of the Manesar plant of the company would be taken shortly.

Shares that lost ground in trade today were Tata Steel, Tata Motors, Hindalco and Hero Motorcorp. Shares of State Bank of India which lost heavy ground on Friday following its results ended the day steady. Among the non index stocks Deccan Chronicle continued to lose ground. The shares ended 4.7% lower on reports that the promoters had pledged their shares.

Meanwhile, markets in Europe were marginally up, after opening weak in trade. Markets are increasingly betting on a stimulus measures being announced by the European Central Bank shortly.

Domestically, markets will await the inflation numbers that are slated for Tuesday.

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