Indian opened with a upside gap and traded in a range with REALITY, OILGAS, and METALS showing bullish trend while selling in IT in the final hour forced market to shed most of the gains. SENSEX closed at 20117, up 72 points and Nifty at 6035, up 17 points from the previous close. CNX MIDCAP index was up 0.3% and BSE SMALLCAP index was up 0.1%. The market breadth was slightly negative with advances at 602 against declines of 666 on the NSE. Top gainers are listed as HINDALCO, STER, TATASTEEL, NTPC, ONGC and ABB. Top losers are listed as HDFCBANK, HUL, INOSYSTCH, HDFC, ITCM HCLTECH and IDEA.

Next Day Trading Session:

In the next session market is expected to remain volatile on account of F&O expiry week. NIFTY is expected to trade in the range 6000-6100. Traders are suggested to trade with close stop loss. Stock specific action might be seen. CONSUMER DURABLES along with POWER may attract buying while IT may face selling.

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.

Corporate Highlights

Beckons Industries has announced that the company has collaborated with GTZ, Germany to establish facility for production of Algae Feedstock for biodiesel.

Jaihind Projects has secured order from Brahmaputra Cracker and Polymer for Rs. 21.33 crore for carrying out mechanical works comprising of erection of equipments and machinery, fabrication and erection of piping and other related civil and structural works for Poly Propylene Unit at Lepetkata, Assam. Further, the company has secured order from GAIL (India) worth Rs. 12.37 crore for carrying out at PART-B for providing mechanical works for compressor station at Chainsa, Haryana.

Ramco Systems has announced a prestigious order win from National Aviation Company of India (NACIL) for its maintenance, repair and overhaul (MRO) suite of aviation software offerings. As per the agreement, Ramco Systems will provide its complete suite of MRO offerings to NACIL which operates Air India, Indian Airlines, Air India Express and Alliance.