Indian market supported by positive global cues opened positive but sell off in infrastructure, IT and FMCG STOCKS dragged indices down in the latter half of the session. However, with strong METALS and AUTO STOCKS SENSEX closed at 18032, up 33 points and Nifty at 5415, up 6 points from the previous close. CNX MIDCAP index was down 0.2% and BSE SMALLCAP index was down 0.1%. The market breadth closed negative with advances at 530 against declines of 747 on the NSE. Top gainers included TATASTEEL, BHARTIARTL, ONGC, RELINFRA, HINDALCO, ABB and POWER GRID. Top losers are listed as ITC, TCS, BHEL, INFOSYSTCH, LT, SIEMENS and In the next session, NIFTY may trade in the range 5390-5461. Traders are suggested to follow the strategy of selling at rise. Below 5390 NIFTY may attract more selling pressure. METALS and POWER STOCKS may appear strong while REALESTATE and BANKING may face selling at rise.

Investors who have a horizon of 6-12 months can buy the following companies. The companies have potential toive higher returns than index over a long term.

Reliance Industries (RIL) has acquired shares in EIH representing 14.12% of EIH at a total cost of Rs. 1,021 crore throughts wholly owned subsidiary Reliance Industries Investment and Holding from Oberoi Hotels and certain other promoters of EIH.

Jubilant Organosys has signed a long term contract in CRAMS business with a US Life Sciences Company. The total ontract value is expected at US$ 33 million for the initial term of four and a half years and the contract will be effective from ugust 2010. At the end of the initial term, Jubilant will have the first right of refusal for continuing the contract.

Mundra Port and Special Economic Zone (MPSEZ) has announced the commencement of its operations of the 20 million onnes dry bulk cargo port at Dahej. Adani Petronet (Dahej) Port, a subsidiary of MPSEZ has commenced its dry bulk cargo perations at its Rs 1150 crore Dahej Port from 30 August 2010.

The above mentioned ideologies are based on the research done at Fairwealth research department. airwealth securities (P) 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.