Indian market took a positive start and sustained the gains throughout the day, with both indices SENSEX and NIFTY closed above the psychological marks 20000 and 6000 respectively. The Sensex closed at 20060, up 171 points from its previous close, and Nifty closed at 6000, up 53 points. The CNX Midcap index was up 0.8% and the BSE Smallcap index was up 1%. The market breadth was positive with advances at 872 against declines of 427 on the NSE. The top Nifty gainers were Sterlite, Hindalco, Sesa Goa and Axis Bank and losers included Sun Pharma, Suzlon, BPCL and Ambuja Cements. The FIIs were net sellers with sales worth Rs -34.79cr (prov. cash market fig)

In the next session, NIFTY if sustains above 5980 may rally up to 6070 and more. However, 5830 may act as an important support for NIFTY, intraday traders are suggested to avoid long positions below 5930 NIFTY level. Banking heavy weights and metals may participate in rally while IT, Cements and Telecom may face selling pressure.

Lanco Infratech Limited (LITL) EPC(engineering, procurement and construction) division has been awarded a Rs 4,100 crore EPC contract by a subsidiary of Moser Baer Projects Pvt Ltd for execution of its coal based 2x600 MW power project

KK Birla group company Texmaco has signed a Memorandum of Understanding with UGL of Australia for setting up a joint venture. The scope of the JV would cover design, manufacture and supply of locomotive bogies, frames, wagon components for both Australian and Indian markets.

India's third-largest steelmaker JSW Steel Ltd agreed to buy a controlling stake in smaller rival Ispat Industries for $476 million, catapulting it to the No. 1 spot of the nation's steel producers.

Software services provider Subex Ltd has secured a contract with an Asian telecom company, worth $3 million.

Advance tax payments by India’s top 100 corporate taxpayers rose 18.7% in December from a year ago, indicating better corporate performance in the third quarter.

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.