The markets traded in a narrow range today after showing good upward movement in the morning session. Realty and consumer durables were the biggest gainers of today's trade while FMCG and capital goods closed with marginal declines. The Nifty closed with a gain of 0.41% up 23 points from the previous day close. The world markets helped the gain and the prevailing cheerful mood after the euro area approved its share of a 12 billion-euro ($17.4 billion) aid payment for Greece on July 2 and pledged to complete work in the coming weeks on a second rescue package for the cash-strapped nation. Finance ministers agreed to disburse 8.7 billion euros of loans under last year’s 110 billion-euro bailout, rewarding Greek Premier George Papandreou for pushing an extra austerity plan through parliament. The other major news which affected the Asian markets was the rise of Thailand's baht to a one-week high on back of a clear political mandate erasing the fears of political instability to Yingluck Shinawatra who is set to become the new prime minister.
By
Pavan
Class of 2012
Goa Institute of Management
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