Indian Stock markets closed strong on Thursday as the global indicators were strong. Stock markets were trading higher in morning but lost steam after couple of hours. Towards the end of trading session, value based buying was witnessed in select counters.

Among major gainers were Suzlon Energy, NIIT Technologies, Satyam Computers, Tata Power and Reliance Capital.

Suzlon Energy has been losing ground for past two weeks. The stock touched has touched a 52-week low of Rs 221 on NSE. The stock looks attractive for long term investors. Suzlon Energy closed 9.2% higher at Rs 269.45 after touching an intraday high of Rs 272.90 on NSE.

NIIT Technologies touched an intraday high of Rs 142.5 after opening at 128.40. The stock closed near its intraday high at Rs 140.90.

Technical Analysts believe that the market lost ground very quickly in past few trading sessions and what we witnessed today was a technical pullback. Markets are still looking weak. Traders should wait for markets to cross 4800 for NSE Nifty. If NSE Nifty closes well above 4800, we can expect a short rally up to 5000. The market direction will also depend on the global factors and Oil prices.