Here's the simplest explanation to what's happening in the market today

Both the Sensex and the Nifty raced to a 3-month high in early deals as traders capitalized on an early morning strong start. Major indices were up a second day on the trot as traders went long on blue chips, bidding several of them to new highs, and large cap non-index stocks. Here is a snapshot of where the markets are post noon, with an emphasis on the Futures and Options space:

NIFTY jumped 46 points to 8,570. Axis Bank and Tech Mahindra were top gainers.
SENSEX added 138 points to quote at 28,336 levels. HDFC Bank and HDFC were top gainers.

FUTURES AND OPTIONS
TOP GAINERS
Adani Power
Indian Oil
Indraprastha Gas

TOP LOSERS
South Indian Bank
JP Power
Amtek Auto

TOP OI GAINERS
Pidilite Industries
MindTree
Bajaj Finance

TOP TRADED FUTURES
Axis Bank
Reliance Industries
HDFC Bank

52-WEEK HIGHS
Dr. Reddy's
Coal India
Indian Oil
Hatsun Agro


ADVANCE-DECLINE RATIO
Nifty: 31/18
Sensex: 19/11
Futures: 105/51
Broader Market: 1,396/977

(Image credit: Indiatimes)