Despite weak global cues Indian market shed all earlier hour loses in the final hour of the session and closed in green. However, CEMENTS and METALS appeared as major loser while IT and OIL- GAS were major gainers. SENSEX closed at 20168, up 43 points and Nifty at 6075, up 13 points from the previous close. CNX MIDCAP index was down 0.2% and BSE SMALLCAP index was also down 0.2%. The market breadth was negative with advances at 456 against declines of 831 on the NSE. Top gainers are listed as TCS, NTPC, TATASTEEL, ONGC, LT, RIL, SUZLON and HCLTECH. Top losers included ACC, BHARTIARTL, JAIPRA, TATAPOWER, M&M, CIPLA and MARUTI. The FIIs were net buyers with buying amounting to 335.79 Cr. ( prov cash market fig)

Next Day Trading Session:

In the next session NIFTY is expected to trade in the range 5990-6130. Selling pressure at higher levels is expected, especially in BANKING STOCKS. REAL-ESTATE and AUTO SECTOR is expected to trade bullish while IT may face profit booking. CAPITAL GOODS may stay weak.

Fundamental Picks

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

Corporate Highlights

Venus Remedies said its branded drug Potentox has won patents in Australia and Ukraine. Potentox, used in the treatment of pneumonia, already has patents in India, South Korea, South Africa and New Zealand. The new patents are valid till 2025.

Housing Development Finance Corporation reported a 21.63 per cent rise in net profit to Rs 807.54 crore for the second quarter ended September 30, led by higher loan disbursal.

Rural Electrification Corp plans to raise at least 5 billion rupees through the sale of 10-year bonds and has invited bids for the same. The bidders will have to quote swap rates based on a one-year annualized Reuters benchmark fixing for 10-year bonds carrying a coupon rate of 8.70 per cent.