IIP DATA created sharp downfall in INDIAN MARKET, however the final hour trade tried to cover some of the loses. SENSEX closed at 20203, down 136 points from its previous close, and Nifty closed at 6090, down 45 points. CNX MIDCAP index was down 0.7% and BSE SMALLCAP index was down 0.03%. The market breadth was negative with advances at 433 against declines of 855 on the NSE. Top gainers are listed as M&M, RCOM, TCS, ICICIBANK, TATAMOTORS, and SUNPHARMA. Top losers included JINDALSTEL, DLF, HINDALCO, LT, JAIPRA, ACC. SAIL, and KOTAKBANK. The FIIs were net buyers with investments worth Rs. 455.73 cr (prov. Cash market fig)

Next Day Trading Session:

In the next session 6120 may act as trend deciding level for NIFTY; if sustained above this level we expect an upside rally while breaching the support 6055 may create severe pain for intraday market. Traders are suggested to trade according to the range 6055-6120 of NIFTY. AUTO and PHARMA may attract huge buying while CEMENT and MEDIA along with METALS may face selling. BANKING STOCKS may show mixed trend.

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

Educomp Solutions and China Distance Education Holdings (CDEL) have announced an agreement whereby Educomp, through its Singapore subsidiary AsknLearn has granted CDEL exclusive rights to license and distribute Educomp's Smart Class, Edulearn and Wizlearn products in the people's Republic of China excluding Hong Kong, Macau and Taiwan.

Diamond Power Infrastructure (DPIL) has entered into an agreement with Skoda (India) (SIPL) and Schaltech Automation for execution of contracts in the power transmission distribution business upto 400 KV.

Moser Baer India (MBIL) has signed a memorandum of understanding (MoU) with Indian Institute of Technology (IIT) Kanpur to institute a research and development program in advanced clean energy technologies. The project will focus on energy generation using solar photovoltaics and energy efficiency using organic solid state lighting.

Confidence Petroleum India has announced that the company's project division has been awarded the prestigious turnkey contract worth 8.25 crore by Steel Authority of India (SAIL) for putting mounded propane tankage, pipeline, fire fighting & automation work at Bokaro.