Here's how the markets look like today

The bulls made a strong come back on Thursday as traders scrambled to cover short positions on the last day of the monthly derivatives expiry as global markets staged a classic recovery after 7 days of relentless selling.

The Nifty added 74 points, or 1 percent, to 7,866 on expiry day with 40 shares advancing to 10 that fell, pointing to a sharp bounce back in early deals. Cairn, HDFC, Bank of Baroda, GAIL and Bharti Airtel were the top gainers on the Index while BHEL, ACC, UltraTech, NMDC and Tata Motors fell. HDFC was the top traded counter on the Nifty, with 116 crore rupees worth of shares traded.

Broader indices such as the CNX 100, CNX 200, CNX 500 and CNX Nifty Junior, CNX Mid Cap and CNX Small Cap gained between 1.2-2.1 percent, indicating a broader set up for the bulls.

The sectoral indices were on a strong footing with the Bank Nifty jumping 1.3 percent, or 222 points, to 17,139. Gains were seen across the board with CNX PSU Bank, CNX Realty and CNX Finance Indices putting a strong foot upfront.

And on the Bombay Stock Exchange, the Sensex jumped a percent higher to 25,965 points in early deals. HDFC, Vedanta, Lupin and Bharti Airtel were the top gainers on the Index while BHEL, Tata Motors and TCS remained weak. The Advance-Decline Ratio was a strong 24/6. Axis Bank and L&T were the two top traded stocks on the Index.

Short covering in the wider market helped the broader Advance-Decline Ratio where 1,169 shares gained versus 213 that lost ground.

Bulls were in command of the futures and options space with 152 futures advancing compared with just 9 that fall. All 18 sectors showed strong positive traction. HDIL, IB Real Estate, Cairn and HDFC were the top gaining futures while ACC, BHEL, TCS and Bajaj Auto lost ground in the derivatives space. Reliance Industries and Yes Bank were the top traded futures.

Jain Studios, Ramco Cements and Bombay Dyeing made it to the top volume buzzers list. La Opala, 8K Miles and Jubilant Industries made it to the 52-week highs list.

Image credit: Indiatimes