Weak global cues caused heavy selling pressure over heavyweights in METALS, REALITY and BANKING stocks, which led Indian indices to close with huge, loses. SENSEX closed at 16572, down 372 points and Nifty at 4970, down 116 points from the previous close. CNX MIDCAP index was down 1.3% and BSE SMALLCAP index was down 1%. The market breadth was negative with advances at 350 against declines of 918 on the NSE. Top gainers included CHAMBLFERT, ACC, CIPLA, MARUTI, POWER GRID and ITC while top losers are listed as JPASSOCIATE, SESAGOA, BHUSHANSTEEL, STER, HINDALCO, TATASTEEL, RCOMM, UNITECH and HINDALCO.

Next Day Trading Session:

In the next session, NIFTY may get minor supports around 4948 and 4917 and resistance around 5005-5020. Traders are suggested to follow the strategy of selling at gains. BANKING and FINANCE along with METAL stocks may face heavy selling pressure. ENERGY and CAPITAL GOODS stocks may show some strength.

Fundamental Picks

Investors having a horizon of 6-12 months can buy the following companies. The companies have a potential to give higher returns than index over a long term.

Bartronics India Ltd
DIC India Ltd
Dena Bank Ltd
Nectar Lifesciences ltd
GEI Industrial Systems Ltd
TNPL
Indoco Remedies Ltd
JK Paper Ltd
Ballarpur Industries Ltd
Aarti Drugs
Riddhi Siddhi
Gluco Biols
Electrotherm (India)
Balkrishna Ltd.
McNally Bharat
Ess Dee Aluminium
Hyderabad Industries
Monnet Ispat
Biocon
Alembic
Visaka Industries
Munjal Showa
Jindal Saw Ltd

Visaka Industries has achieved its target of Rs. 180, call given at Rs.122
Banco Products has achieved target of Rs 110, call given at Rs 75.
Riddhi Siddhi Gluco Biols has achieved its target of 258, call given at 216

Corporate Highlights

Jaihind Projects has secured order from Hindustan Zinc worth Rs. 8.48 crore for slope correction and lining of 5th phase (between 421.50 to 427.50 MRL) of tailing dam at Rampura Agucha Mines, Bhilwara District, Rajasthan.

IVRCL Group has bagged one of India's largest toll road project of around Rs 3100 crore from National Highways Authority of India (NHAI). The design length of the project is 122.06 km. long for 4/6 laning of NH-17 section, between Maharashtra-Goa Border to Panaji-Goa-Karnataka borer in the state of Goa under National Highways Development Programme (NHDP)- Phase III on DBFOT Pattern with a concession period of 23 years, with a positive capital grant of Rs 664.72 crore.

Aurobindo Pharma has received approval for its Abbreviated New Drug submission for cefotaxime sodium for injection in strengths of 0.5g, 1g and 2g from Health Canada.