Banking Stock Helped The Markets To Close in Green

The Indian markets closed the day on a positive note above the 18K mark. Banking index is the main gainer for the day as it closed the day in green gaining more than two percentage points. Consumer Durables and Metal indices were the next to follow with gains of more than one percentage points during the day. On the other hand Asian markets surged on strong corporate earnings and shrugged off news that Chinese manufacturing shrank in July amid investor hopes that the world's fastest growing major economy will expand strongly. The Sensex closed the day in green gaining 212.92 points or 1.19 percentage points to close at 18,081.21. Nifty ends the day at 5431.65 gaining 64.05 points or 1.19 percentage points. Market breadth was positive with 1,761 advances against 1,153 declines on BSE. On the European front stocks surged to a three- month high as BNP Paribas SA and HSBC Holdings Plc led a rally in banks and basic-resource producers climbed with base metals. Asian shares and U.S. index futures advanced.