The markets opened on a cautious note and proceeded to surge higher through Wednesday.
The Bombay Stock Exchange (BSE) sensex closed at 3130.46 (up 48.52 points) and the National Stock Exchange (NSE) Nifty 50 wrapped up at 990.80 (up 13.95 points).
Traded volumes were Rs 1,291 crore and Rs 3,174 crore on the BSE and the NSE, respectively.
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The breadth was slightly positive as the advances to declines figures on the two exchanges combined stood at 1188 : 1118.
The capitalisation of the breadth was highly positive with the figures on the two exchanges taken together being Rs 3,997 crore: Rs 466 crore.
The Nifty has encountered resistance at the 990 levels where it was advocated yesterday on technical grounds.
The outlook for Thursday is of optimism as the markets are edging higher out of bearish hands and the heavyweights are again witnessing an active buying interest.
The breadth is positive and traded volumes have improved significantly on a 10-day moving average basis. For Nifty, 1007 levels will be the key resistance threshold beyond which a low resistance zone will be seen on the upsides.
The Nasdaq is above it