Indian market traded in a range with volatility. Most of the sectors were seen under profit booking. SENSEX closed at 20852, down 152 points and Nifty at 6273, down 39 points from the previous close. CNX MIDCAP index was down 0.2% and BSE SMALLCAP index was up 0.1%. The market breadth was negative with advances at 591 against declines of 732 on the NSE. Top Nifty gainers were AMBUJA CEMENTS, RELIANCE POWER, STER, ACC, TATAMOTORS, and JP ASSOCIATES while losers included ONGC, SBIN, INFOSYS, POWER GRID, BPCL and BANK. The FIIs were the net buyers with investments to the tune of Rs. 505.54cr (prov cash market fig.)

In the next session NIFTY may trade in the range 6545-6313 sustaining beyond the level may decide the trend. NIFTY if sustained below 6245 it may be slipped below 6200. PHARMA and REAL-ESTATE may attract buying while BANKING STOCKS may face profit booking at higher levels.

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.