Indian indices rallied with almost all heavyweights in bullish mode, SENSEX highest closing till date and except CONSUMER DURABLES almost all sectors traded in positive. OIL-GAS and METALS were major gainers. The SENSEX closed at 20893, up 428 points from its previous close, and Nifty closed at 6282, up 122 points. The CNX MIDCAP index was up 0.7% and the BSE SMALLCAP index was up 0.7%. The market breadth was positive with advances at 738 against declines of 556 on the NSE. The top Nifty gainers were SBI, TATA MOTORS, RIL and IDFC and losers included Hero Honda, BPCL, BHARTI AIRTEL and CAIRN. The FIIs were the net buyers with investments to the tune of Rs 987.61cr (prov cash market fig.)

Next Day Trading Session:

In the next session NIFTY has a good support around 6245 and sustaining above 6300 may attract more buying. Traders are suggested to buy at dips. OIL-GAS and FINANCE STOCKS may attract more buying. Stock specific buying in banking stocks might also be seen.

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

State-owned Bharat Sanchar Nigam Ltd (BSNL) will expand its third generation (3G) services to 120 more cities across the country by December. BSNL is also expecting to increase its subscriber base in this segment by 2.5 million by March 2011, Gopal Das, BSNL chairman and managing director, said on the sidelines of a telecom event here.

State-run lender Corporation Bank said on Thursday it has raised its base rate to 8.25 percent from 7.75 percent.

Coal India ends with 40% gains on debut. Coal India touched an intraday high of Rs 344.75 and an intraday low of Rs 287.45. Market cap of the company stands at Rs 216,240.74 crore. The issue price was fixed at Rs 232.75 for retail investors.