IT-SECTOR outperformed through out the session, where Indian indices traded flat for most of the time, but witnessed good buying in the final hour of the session. NIFTY closed above 30-months high. SENSEX closed at 18217, up 102 points and Nifty at 5467, up 28 points from the previous close. CNX MIDCAP index was down 0.2% but BSE SMALLCAP index was up 0.5%. The market breadth was positive with advances at 667 against declines of 612 on the NSE. Top gainers are listed as TCS, INFOSYSTCH, WIPRO, BHEL, RELINFRA, IDEA and HCLTECH. Top losers included BHARTIARTL, ACC, TATASTEEL, RIL, JAIPRA, PNB, ABB, AXISBANK and ACC.

Next Day Trading Session:

In the next session IT stocks may attract more buying at little dips. Nifty may face resistance around 5510, while 5420 may act as a strong support level. Traders are suggested to buy at dips. BANKING STOCKS may also attract buying. Metals might appear weak.

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

Allcargo Global Logistics is upgrading its Mundra Container Freight Station (CFS) by doubling its export loaded volume. The CFS currently has the capacity of a single warehouse of 6125 sq mtrs with 19,125 sq mtrs of paved yard.

The board of KIC Metaliks in its meeting on 31 July 2010 has considered and approved setting up a 4.7 MW blast furnace gas based captive power plant at their existing plant location which is likely to be commissioned by June, 2011.

A&E Television Networks, LLC (AETN) and Network18 Group have reached an agreement to form a joint venture, AETN-18 India. AETN-18 will launch History, Bio and other popular AETN channels in the India market.