Indian market, having good GDP numbers, traded with good gains. Banks, Reality and Auto participated in the rally. Sensex closed at 19521, up 116 points and Nifty at 5862, up 32 points from the previous close. CNX Midcap index was up 1.5% and BSE Smallcap index was up 1.9%. The market was positive with advances at 997 against declines of 316 on the NSE. Top Nifty gainers were DLF, Bharti Airtel and Tata Motors while losers included ACC, Sesa Goa and SAIL. The FIIs were net buyers with investments worth Rs 889.46 cr (prov. cash market fig)

Market Outlook

In the next session, NIFTY if sustained above 5911, may attract buying and may probably move up to 5959-5977 levels. However, 5760 is a strong support. Traders are suggested to buy at dips as long as NIFTY is holding 5760 level. Real-estate, Auto and Pharma may show further up move while cements and capital goods may appear weak.

Expected Bullish Stocks

RECLTD
APIL
IDEA
HCC
LICHSGFIN
ESSAROL
BGRENERGY
ADANIENT
ICICIBANK
JPINFRATEK
CANBK
DENABANK
IOB
SIEMENS
MCDOWEL-N
PFC
AREVAT&D
SYNDIBANK

Expected Bearish Stocks

PANTALOONR
TATAPOWER
INDIAINFO
ULTRACEMO
ACC
GITANJALI
GESHIP
GRASIM
VIDEOIND
EIH
SCI
PRAJIND
VOLTAS
RELIANCE
INDHOT
DIVISLAB
GMDCLTD
EKC

Fundamental Picks

Investors with a horizon of 6-12 months can consider following scrips for their investment. These companies have potential to give higher returns than index over a long term.

DIC India Ltd has achieved its target of Rs. 340
First Leasing Ltd has achieved its target of Rs. 92
GEI Industrial Systems Ltd has achieved its target of Rs. 170
Dena Bank has achieved its target of Rs. 108
Visaka Industries has achieved its target of Rs. 180
Aarti drugs has achieved its target of Rs 135
Indoco Remedies has achieved its target of Rs 465, call given at Rs. 388
Riddhi Siddhi Gluco Biols has achieved its target of 258, call given at 216
Ess Dee Aluminium has achieved its target of Rs 520
TNPL has achieved its target of Rs. 115.

Corporate News

State-owned BHEL has bagged an order to supply the country's first super critical 700-MW coal fire unit by Karnataka Power Corporation Ltd (KPCL) for its thermal power station (TPS) at Bellary. The order is valued at Rs 3,700 crore. Bellary TPS is already equipped with a 500-MW unit supplied by BHEL and another unit under the same capacity is under execution.

Nuclear Power Corpoaration of India plans to set up joint ventures with the Indian Railways and Steel Authority of India Ltd (SAIL) to set up nuclear reactors, continuing its strategy to involve state entities to fund its ambitious plan to add nearly 60,000 mw of new capacity in two decades. The company also hopes to involve private firms in nuclear power plants if the government allows this in the future.

The Supreme Court on Monday upheld BSNL’s right to impose the maximum penalty on the Anil Ambani group firm Reliance Communications (RCOM) for wrongly routing international calls through the state-run telco’s network as local connections by tampering with Calling Line Identification (CLI) numbers.

Economic Updates

Belying expectations of a slowdown, the Indian economy expanded at better than expected pace of 8.9 per cent in the second quarter of these fiscal, prompting experts to peg the growth rate for the current financial year at 9 per cent. The growth rate during the period depicts India as the second fastest growing large economy after China, which had registered a growth of 9.6 per cent in the September quarter