Indian indices had a weak start on affected by disappointed INFOSYS numbers, later good global cues especially from Europe led buying over REALITY and BANKING sector SENSEX closed at 17985, up 48 points and Nifty at 5400, up 17 points from the previous close. CNX MIDCAP index was up 0.72% and BSE SMALLCAP index was up 0.69%. The market breadth was positive with advances 756 against declines of
526 on the NSE. Top gainers included DLF, TATASTEEL, HDFC, TATAMOTORS, JAIPRA, UNITECH, SUZLON, TATASTEEL and SIEMENS. Top losers are listed as INFOSYSTCH, TCS, BHARTIARTL, M&M, RCOM, IDEA and WIPRO.

Next Day Trading Session:

In the next session, NIFTY is expected to continue bullish trend. Traders may follow the strategy of buying at dips as long as NIFTY sustains above 5350. It may target to 5500-5555. BANKING and METALS may attract buying while IT and FMCG may stay weak.

Fundamental View: Fairwealth Research Team 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

Network18 Group and Sun Network have announced a strategic alliance to launch one of India's biggest distribution entities. The new entity, to be called Sun18, will be the first truly pan-India distribution company and aims to become one of the dominant players in the approximately Rs. 16,000 crore pay-tv subscription market over the next 2 years. This alliance also marks the entry of Network18 Group into the Indian television distribution space.

The board of KPIT Cummins Infosystems in its meeting on 13 July 2010 has approved the acquisition of a Germany based Automotive Product Company, subject to regulatory approvals.

Gokul Group under its legal entity Gujarat Gokul Power is planning for a 80 MW lignite based thermal power station near Tadkeshwar District Surat. In this power plant, Gokul Refoils and Solvent is the equity partner for 74% stake and Gujarat Mineral Development Corporation (GMDC) (26% stake).

Spanco has won the IT contract to create IT infrastructure and deploy advanced library management systems at the prestigious 'Anna Centenary Library' (ACL) of Chennai. The project aims to implement the most modern technology in library management available globally.

Patni Computer Systems has appointed Avtar Sangha as head of delivery for the EMEA region. Avtar will be based in Patni's EMEA headquarters at Heathrow and will be accountable for the delivery of services to all clients in the EMEA region.

The board of Natraj Financial & Services in its meeting on 12 July 2010 has agreed to enter into a MoU with Bright Telecom India, subject to definitive documentation, necessary approvals from respective authorities, parties, etc.