Market closed with a sharp decline in the both benchmark indices. Almost all the sectors faced selling pressure. Healthcare closed with slight gains. SENSEX closed at 20315, down 227 points from its previous close, and NIFTY closed at 6120, down 66 points. CNX MIDCAP index was down 0.6% and BSE SMALLCAP index was down 0.8%. The market breadth was negative with advances at 434 against declines of 867 on the NSE. Top gainers included TATAPOWER, HEROHONDA, RCOM, CIPLA, HINDALCO, BHARTIARTL and DRREDDY. Top losers are listed as TATASTEEL, RELINFRA. DLF, HDFC, BHEL, SESAGOA and IDFC. FIIs continued with their previous trend to pore fresh investment into Indian capital market to the tune of Rs. 1182.91cr(provisional cash market figures)

Next Day Trading Session:

NIFTY might face heavy resistance in the range 6161-6191; also it may come down to test 6100 and 6070 levels. Traders are suggested to sell at gains. IT and METALS along with BANKING may face selling pressure WHILE POWER and TELECOM may attract buying.

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

Zydus Cadila has received an approval from USFDA to market Losartan Potassium tablets (25mg, 50mg and 100mg) and Losartan Potassium + Hydrochlorothiazide tablets (50/12.5mg and 100/25mg) in the US market.

Gokul Refoils & Solvent (GRSL) has won prestigious awards in three categories for highest exporters - 'Rapeseed Extraction', highest exporters - 'Castor Seed Extraction' and highest processors - 'Rapeseed Oilcake' at an award function held by Solvent Extractors' Association (SEA) of India. The Solvent Extractors' Association of India (SEA) is a broad based all India apex body of solvent extraction industry.

GAIL (India) has announced that the company placed orders worth Rs. 677 crore for laying of pipelines for Dabhol- Bangalore pipeline project.