The markets remained volatile and range bound throughout the day and declined sharply in the final one hour of the trade. Nifty breached the psychological 6000 mark and closed below that. Barring capital goods and healthcare, all the sectoral indices closed in the red and metal was the worst among the losers. SENSEX closed at 19872, down 110 points from its previous close, and Nifty closed at 5982, down 45 points. The CNX MIDCAP index was down 0.06% and the BSE SMALLCAP index was down 0.5%. The market breadth was negative with advances at 435 against declines of 864 on the NSE. The top Nifty gainers were RANBAXY, TATA POWER, L&T, INFOSYS and NTPC and losers included STERLITE, HCL Tech, HDFC, SESA GOA and TATA STEEL. The FIIs were net buyers with investments worth Rs. 16.35 cr (prov. cash market fig)

Next Day Trading Session:

In the next session NIFTY, expected to get support around 5940, and resistance around 6040. TRADERS ARE SUGGESTED TO TRADE ACCORDING TO THE RANGE 5940-6040. METALS and REAL-ESTATE may face some more selling while PHARMA and IT may appear strong.

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

Tata Chemicals has entered into share purchase agreement to acquire 100% stake in South African Company viz. Grown Energy (GEL) for a total consideration of US$ 1.10 million.

Starwood Hotels & Resorts Worldwide, Inc has announced that the company in conjunction with Tata Communications will debut 'virtual meeting' at four hotels of Starwood Hotels & Resorts Worldwide.

The board of Sicagen India has approved the proposal for acquisition by way of purchase of entire equity capital of Wilson Cables, Singapore, subject to approval of shareholders and completion of all other statutory compliances.