Indian market gained strength in the second half of the session. After little volatility Capital Goods, Metals and FMCG attracted good buying while Auto remained weak. Sensex shut shop at 20073, up 90 points and Nifty at 6011, up 31 points from the previous close. CNX Midcap index was up 0.2% and BSE Smallcap index was up 0.3%. The market breadth was positive with advances at 741 against declines of 539 on the NSE. Top Nifty gainers were RCom, Sun Pharma and Reliance Power while losers included Tata Motors, BPCL and IDFC. The FIIs were net buyers with investment worth Rs 14.82 cr (prov. cash market fig)

In the next session, NIFTY is expected to cross the resistance of 6025 to test 6080. Further, 6151 is another strong resistance in NIFTY. Still, 5950 is a strong support level for Nifty. Traders are suggested to buy at dips as long as nifty sustains 5957 level. IT, Metals and Capital Goods may attract buying along with FMCG, while Banking index should sustain above 11610 for further up move. Auto may remain weak.

Electrical components maker Havells India expects to double its capacity for compact fluorescent lamps (CFLs) within the next two years. Havells's plant in India will produce 10 million CFLs in the next two years, as the company looks to leverage its Sylvania brand, which was launched in India recently.

Welspun Infra Projects, a group firm of Welspun Corp, will buy a 35% strategic stake in Leighton Contractors, a unit of Leighton nternational, for 4.7 billion rupees.

Bharti Airtel will delist its Lusaka-listed Celtel Zambia unit following a mandatory offer to buy out minority shareholders that aised its shareholding to almost 97%. India's Bharti Airtel, which owned about 79% of the Zambian unit after acquiring the frican assets of Kuwait's Zain this year, made an offer to buy out minority shareholders in November, in accordance with local aw.

Ceat Ltd, India's fourth largest tyre maker, plans to continue 1-2% price hikes of its tyres having decided big price increases unfeasible. High prices of natural rubber have played havoc with profit margins of tyre makers with domestic rubber prices jumping nearly 50 per cent so far this year.

India Inc sated its thirst for funds like never before in 2010, with a record mop-up of over Rs 2, 00,000 crore from the equity and debt market during the calendar year. The capital raised by Indian companies in the 2010 calendar year was over one-third more than the Rs 1,50,000 crore mop-up in the previous year and was a beacon of hope in a global economy that has been witnessing turbulence on account of the poor health of Western economies.

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.