Market Summary Supporting Global cues and good IIP numbers attracted good buying in Indian market. Almost all sectors traded positive with Banking, Oil-gas and Consumer durables appeared as major gainers. The Sensex closed at 19508, up 266 points from its previous close, and Nifty shut shop at 5857, up 90 points. The CNX Midcap index was up 1.6% and the BSE Smallcap index was up 2.4%. The market breadth was positive with advances at
1026 against declines of 279 on the NSE. The top Nifty gainers were ACC, Ambuja Cements, Axis Bank and ICICI Bank and losers included Bajaj Auto, Bharti Airtel, Tata Motors and GAIl. The FIIs were net sellers with investments worth Rs 1239.25 cr (prov. cash market fig)

Market Outlook In the next session, 5740-5770 may act as strong support zone in NIFTY, Buying at lower levels may pull NIFTY to 5950-6000 levels. Traders are suggested to buy at dips as long as NIFTY holds 5690 level. Banking, Auto and Cements may attract major buying while Telecom and Fertilizers may face selling at higher levels. 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 Ballarpur industries has achieved its target of Rs 43 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 Highlights

� Private sector HDFC Bank on Friday joined the ranks of lenders like ICICI Bank and Punjab National Bank (PNB) by hiking deposit and lending rates by up to 75 basis points. The move by the second-largest private sector lender will give better returns on fixed deposits, but will also make loans more expensive for existing customers

� Engineering and construction firm Punj Lloyd has secured a Rs 1,292 crore work order from Thailand's state-run PTT Public Company for construction of a gas pipeline, besides a separate project worth Rs 169 crore from Indian Oil Corporation. The Thailand project involves the construction of a 294-km-long pipeline to transport a mixture of gases and has a contractual completion deadline of three years. � Kalpataru Power Transmission Ltd (KPTL), a turnkey player in power, infrastructure, and asset creation, has bagged orders worth Rs 600 crore in India and Congo. The order received from Societe National d'Electricite (SNEL), Congo's national electricity company, includes turnkey execution for design, supply and installation of a 400 KV - 279 km DC transmission line from Inga to Kinshasa. Funded by the European Investment Bank, the project is to be completed in 24 months.

� GAIL India has proposed to set up 5,500 km of gas connectivity over the next two-three years investing USD 4 billion, a senior company official said today. They have planned to add 1,000 km of gas connectivity every year and in another two-three years they will be laying gas connectivity to around 5,500 km across the country.

Economic Updates

� India's industrial output grew at its fastest pace in three months in October 2010 beating economists' estimates and driving away, for now, concerns over a slowdown in economic activity. Output at factories and mines rose to
10.8% over the year-ago period, and was more than twice as fast compared with the 4.4% clocked in September this year.

Disclaimer: The above mentioned ideologies are based on the research done at Fairwealth research department. Fairwealth securities Ltd will not be responsible for any kind of losses incurred by any part either directly or indirectly based on our research results, though we have presented to the best of our knowledge.