In Asia indices closed higher with Hong Kong's Hang Sang, Japanese Nikkei, Korea's KOSPI and the Taiwan Weighted all closing with gains.

Indian markets which opened the day significantly higher in morning trades, began losing ground in afternoon trades after the German DAX started losing ground. However, the French CAC was up in trade at 3 PM IST, while the UK's FTSE was closed for trading today.

Among the stocks that gained were Larsen and Toubro, Grasim, Reliance Infrastructure and NTPC. Among the stocks that lost ground today were Tata Motors, Bharti Airtel and Ambuja Cements and Siemens.

Markets are expected to remain range bound and will await domestic cues, like the RBI Monetary Policy Review, in which repo rate cuts are anticipated.

Globally, markets are awaiting the outcome of the elections in Greece which should broadly determine the short term direction of the global markets.

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