Here's the simplest explanation to what's been happening at the Markets today

Both the Nifty and the Sensex surged above major resistances and posted modest gains on the first trading day of August as traders snapped up auto ancillaries ahead of their earnings. Here is a snapshot of how markets are trading around 1:15 PM with a special focus on the futures and options space:

MAJOR INDICES:
NIFTY rose 7 points to 8,540. Bank of Baroda, SBI and PNB were the top gainers.
SENSEX gained 41 points to 28,145 levels.

SECTORAL INDICES:
CNX PSU Bank Index leapt 142 at 3,554 points.
BANK NIFTY surged 187 to 18,920 points.
CNX AUTO jumped 59 to 8,604 points
CNX Media Index added 25 at 2,478 points
CNX IT Index dropped 109 at 11,485 points
CNX Pharma Index down 9 to 12,343 points
CNX Metal Index fell 13 to 2,115 points


FUTURES AND OPTIONS
MAJOR GAINERS
JP Associates
Sun TV
JP Power

MAJOR LOSERS
HCL Tech
Adani Ent
Jindal Steel

TOP OI GAINERS
Amara Raja Batteries
Hero Motor Co
Sun TV

TOP TRADED FUTURES
Larsen & Toubro
State Bank of India
Bharat Forge


52-WEEK HIGHS
Amara Raja Batteries.
Mahindra CIE
Aditya Birla Nuvo
Bajaj Finance


ADVANCE-DECLINE RATIO
Nifty: 25/24
Sensex: 17/13
Futures: 109/51
Broader Market: 1,754/964

Image credit: Indiatimes