Breaking of the consolidation phase seen over the last few days, the Indian markets have shown a superb up move in the last phase of August month. After mid-session, the indices like Bankex and Auto saw an excellent up-move, up more than 300 points each. The Nifty ended higher by 136 points at 8744; and Sensex was up by 440 points at 28343. Both indices ended higher by 1.58 per cent.

The market breadth is positive this morning, with 46 advances and 4 declines on the NSE.

Top 5 Nifty Gainers: Ambuja Cement was top gainer with 3.9% gains, followed by Bosch Ltd., Grasim, ACC and Eicher Motors.

Top 4 Nifty Losers: Bharti Airtel was top loser with loss of 3.4%, followed by Idea Cellular, ZEEL and BHEL.

In today’s trading session all of the sectors closed on the green mark. Auto and Bankex were top gainers, closing up by 390 points and 328 points respectively. While Healthcare and IT also closed on positive note up by 222 points and 182 points respectively. Mid-caps, Small-Caps, Metals and Oil & Gas index also closed on a positive note, up more than 100 points each.

The Asian markets were quoting in the mix. Japan’s Nikkei was nominally negative, and closed down by 12 points.  Hong Kong’s Hang-Seng was up by 194 points, while Taiwan and Shanghai composite closed on the positive mark.

European markets were also trading in positive scenario.

Derivative Analysis

From last few trading sessions the Nifty future has been consolidating in the range of 8550-8650 levels. Today the Nifty broke this range and closed above 8740 mark, which can be considered as a bullish crossover for further trading sessions.