Here's the simplest explanation to what's been happening in Dalal Street so far

Both the Sensex and the Nifty traded flat in the first two hours of trade on Thursday as investors digested the previous day's 1 percent rally and traders remained fence sitters as indices traded in a resistance zone on the daily charts. The market awaits major earnings from Index heavyweights such as Bajaj Auto, GAIL, Lupin and Wipro. Here is a snapshot of how markets are trading around 11:15 pm with a special focus on the futures and options space:

MAJOR INDICES:
NIFTY fell 1.4 points to 8,632. Cairn, Dr. Reddy's were the top gainers.
SENSEX added 25 points to quote at 28,529 levels.

SECTORAL INDICES:
BANK NIFTY fell 51 to 18,946 points.
CNX FMCG Index down 52 at 20,259 points
CNX IT Index up 53 at 11,698 points
CNX Metal Index fell 5 to 2,185 points
CNX Pharma Index gained 33 at 12,411 points


FUTURES AND OPTIONS
MAJOR GAINERS
Cairn
Oracle Finance
IRB Infra

MAJOR LOSERS
JSW Energy
Hindustan Unilever
CESC

TOP OI GAINERS
Just Dial
Apollo Tyres
Dr Reddy's

TOP TRADED FUTURES
Reliance Industries
Tata Motors
Cairn

52-WEEK HIGHS
Bajaj Finserv
Asahi India
Aditya Birla Nuvo

ADVANCE-DECLINE RATIO
Nifty: 20/29
Sensex: 12/18
Futures: 81/79
Broader Market: 1,540/800

(Image credit: Indiatimes)