Indian market attracted all-round buying in large caps. OIL-GAS and FMCG appeared as major gainers. The SENSEX closed at 20260, up 388 points from its previous close, and NIFTY closed at 6101, up 119 points. The CNX MIDCAP INDEX was up 1.4% and the BSE SMALLCAP INDEX was up 1%. The market breadth was positive with advances at 940 against declines of 351 on the NSE. Top gainers are listed as HINDALCO, BHARTIARTL, HUL, ITC, CIPLA, SUNPHARMA; Top losers are listed as NTPC, HCLTECH, SIEMENS, CAIRN, and BAJAJ-AUTO. The FIIs were net buyers with investments worth Rs. 851.8 Cr. (prov cash market fig.)

Next Day Trading Session:

In the next session, NIFTY if sustained above 6130, may attract huge buying , while trading below 6080 for more than an hour may cause selling pressure. Traders are suggested to buy only if NIFTY cross 6130. METALS and BANKING may attract more buying while IT and POWER may appear 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

Mysore Petro Chemicals has announced that the company's Phthalic Anhydride Plant at Raichur, Karnataka has restarted production of Phthalic Anhydride from 18 October 2010 and has stabilized operations.

Gayatri Projects has secured new order under BOT (Roll) worth Rs. 43.45 crore from Naveen Gupta Head- Procurement, Minerals FLSmidth .

Interlink Petroleum has announced that the Ministry of Petroleum and Natural Gas and the Directorate General of Hydrocarbons has made an oil discovery in its recently-drilled Baola-8 well.

Ashoka Buildcon (AOL) has announced the completion and start of toll collection on its Bhandara toll road project on National Highway No. 6. The project, with a project cost of Rs 535 crore is the largest toll road project commissioned till date by Ashoka Buildcon.