Indian markets traded flat most of the time with REALITY and IT STOCKS as gainers while OIL-GAS, TELECOM and POWER SECTOR faces major sell off. SENSEX closed at 18172, down 44 points and Nifty at 5447, down 20 points from the previous close. CNX MIDCAP index was up 0.1% and BSE SMALLCAP index was up 0.5%. The market breadth was negative with advances at 630 against declines of 641 on the NSE. Top gainers are listed as WIPRO, SBIN, TATAMOTORS, TCS, MARUTI, HCLTECH and UNITECH. Top losers included RCOMM, RELINFRA, ONGC, M&M, ICICIBANK, IDEA, GAIL, AMBUJACEM.

5488-5510 may act as a strong resistance range for NIFTY; it is expected to face correction up to 5390-5350. Traders are suggested to sell at rise as long as NIFTY is trading below 5510. IT stocks may attract buying at declines while banking stocks may face profit booking.

Fundamental Picks

Investors who have a horizon of 6-12 months can buy the following companies. The companies have potential to
give higher returns than index over a long term.

Visaka Industries has achieved its target of Rs. 180
Man Industries has achieved its target of Rs. 90
Aarti drugs has achieved its target of Rs 135
Indoco Remedies has achieved its target of Rs 465, call given at Rs. 388
Riddhi Siddhi Gluco Biols has achieved its target of 258, call given at 216
Ess Dee Aluminium has achieved its target of Rs 520
TNPL has achieved its target of Rs. 115

Corporate Highlights

Bliss GVS Pharma has signed a joint venture agreement with Kuwait Saudi Pharmaceutical Industries at Kuwait for establishing a suppository line manufacturing facility in Kuwait.

Glenmark Generics, USA the subsidiary of Glenmark Generics has received final ANDA approval from United States Food and Drug Administration (US FDA) for Ciotrimazole cream USP, 1% and will soon commence marketing and distribution of this product in US market

DQ Entertainment (International) has announced that it has signed a co-finance and production agreement with Nick India, India's fastest growing kids channel and a part of Viacom 18 Media to produce a local animated series for children.