Market Summary Indian Market failed to sustain any gain and closed with moderate loses. IT and Realty stocks faced major selling pressure while Health Care and Auto performed well. The Sensex closed at 17463, down 129 points from its previous close, and Nifty closed at 5225, down 27 points. The CNX Midcap index was up 0.5% and the BSE Smallcap index was down 0.9%. The market breadth was negative with advances at 487 against declines of 822 on the NSE. The top Nifty gainers were Reliance Infra, JP Associates, SAIL and Tata Motors and prime losers included SBI, Bharti Airtel, Infosys and Sterlite Industries.

Market Outlook In the next session, Nifty is expected to trade in the range 5150-5270. If sustained below 5170 it may face more selling pressure. Traders are suggested to follow the strategy of selling at rise. IT and Realty may face more selling while Cements and Healthcare may perform comparatively well.

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

TATA Steel has achieved its target of 708

Corporate Highlights Auto maker Tata Motors has bagged an order to supply around 250 'Tata Prima' trucks to LINFOX Logistics, a leading supply chain solutions company in the Asia Pacific region."LINFOX has placed a bulk order for 250 Tata Prima 4928. S tractors and will gradually change its complete fleet to the Tata Prima range of vehicles.

Refuting the claims made by Cairn India, state-run Oil and Natural Gas Corp (ONGC) has said the government will save $2 billion if royalty paid on the prolific Rajasthan oilfields is allowed to be cost-recovered. ONGC owns a
30% stake in the Barmer oilfields and pays royalty to the state government not just on its share, but also on the balance 70% owned by Cairn India.

Development of the Chiria mines, the only compact deposit which can sustain large, mechanised mines of 30-50 million tonnes per annum (Mtpa) capacity, is vital for the existing and future expansion plans of SAIL. Grant of forest clearance by the Ministry of Environment & Forests (MoEF) for Ajitaburu, Budhaburu and Sukri-Latur leases of Chiria iron ore mines in Jharkhand has given a boost to the continuing efforts of Steel Authority of India Limited (SAIL) towards strengthening raw material security.

Defence PSU BEML plans to invest Rs 360 crore for setting up an aerospace manufacturing complex here and said the company is scouting for acquisition of small firms to strengthen this business vertical. The plant would come up on a 25-acre plot in the aerospace special economic zone at Devanahally on city outskirts. Economic Highlights

India's food inflation eased in end January on moderating prices of fruits and vegetables but annual headline inflation in January is still expected to remain high. India's food price index rose 13.07% and the fuel price index climbed 11.61% in the year to January 29, government data on Thursday showed.