The cues from across the globe was also steady, with Asian indices closing marginally higher, while Europe was trading flattish to negative at 3 PM IST.

Among the shares that gained today were Hindustan Unilever, which rose on fresh buying interest in the FMCG stock which is largely a bellweather stock. Larsen and Toubro rose today as analysts believe that the recent initiatives of the government in pushing through infrastructure projects could benefit the company.

Automobile stocks lost heavy ground today on reports that the government was looking at the possibility of imposing excise duty on diesel vehicles. Maruti Suzuki, Tata Motors and Mahindra and Mahindra all lost ground today.

The next one week is expected to be crucial for the markets, with Greece election data and the RBI's Monetary Policy Review to decide the broad direction of the markets. On Thursday investors would eye the inflation data, which would remain a point of reference for the RBI in deciding to cut repo rates or not.

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