Indian market faced selling pressure a day before F&O expiry, BANKING and OIL-GAS (PARTICULARLY RIL) closed in loses, while AUTO AND CAPITAL GOODS witnessed good buying. SENSEX shut shop at 17957, down 120 points and Nifty at 5397, down 33 points from the previous close. CNX MIDCAP index was up 0.2% and BSE SMALLCAP index was down 0.2%. The market breadth was negative with advances at 458 against declines of 828 on the NSE. Top gainers included CIPLA, SBIN, HDFCBANK, ITC, TATAMOTORS, ABB, BPCL and SUNPHARMA. Top losers are listed as RIL, HUL, DLF, LT, ICICIBANK, IDFC, HCLTECH and UNITECH.

Next Day Trading Session:

In the next session NIFTY may appear weak if traded below 5380 and below 5350 it may face heavy selling pressure. Traders are suggested to avoid long position below 5380 and take short positions below 5350. AUTO and PSU BANKS may show buying while METALS and REAL ESTATE may face selling pressure.

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

XL Telecom & Energy has received orders worth Rs. 65.70 crore for supply of export of solar photovoltaic panels to Europe.

CMI FPE has entered into an agreement with HOA SEN Group, Vietnam for the design and supply of yet another 6-Hi Single Stand Reversing Cold Rolling Mill. This makes it the third order in last four years.

Jaihind Projects has been awarded two projects aggregating Rs 54.80 crore.