Indian market saw good buying over Realty, Metals, Power and Capital Goods. Small caps index also closed with good gains. The Sensex closed at 19691, up 182 points from its previous close, and Nifty shut shop at 5907, up 50 points. The CNX Midcap index was up 1.4% and the BSE Smallcap index was up 2.1%. The market breadth was positive with advances at 1028 against declines of 272 on the NSE. The top Nifty gainers were JSW Steel, RIL, Dr Reddyys and HDFC and losers included ACC, Ambuja Cements, Ranbaxy and Wipro.

In the next session, NIFTY is expected to trade in a wide range the range 5800-5990. Traders are suggested to follow the strategy of buying at dips, keeping in view the resistance and support levels. OIL-GAS, METALS and IT may attract buying while AUTO and Cements sector may face selling at higher levels

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

Public sector Dena Bank has raised its base rate by 0.50% and its benchmark prime lending rate (BPLR) by 0.25% with effect from December 15 2010. Accordingly, the bank's revised base rate will stand at 8.95% and the BPLR at 13.75%.

Drug-maker Aventis Pharma will sell its 49 per cent stake in Chiron Behring Vaccines Pvt Ltd (CBVPL) to its joint venture partner, Novartis Vaccines & Diagnostics Inc, for USD 22.4 million (nearly Rs 100 crore). The two partners, who have been fighting a legal battle over marketing of Aventis' anti-rabies vaccine Verorab, have agreed to settle their dispute following the deal.

The government will decide by end-March 2011 whether to allow Cairn Energy's to sell a majority stake in its Indian unit to Vedanta Resources. India's Oil secretary S Sundareshan had said last month the government would make its decision before end-February 2010. Cairn Energy agreed in August to sell a stake of 40 to 51% in its Indian arm to Vedanta in a deal worth upto $9.6 billion.

Confidence Petroleum India announced that two of its units have received orders worth Rs 36.64 crore from Hindustan Petroleum Corporation for supply of LPG cylinders. Confidence Petroleum's Khopoli Cylinder manufacturing unit and Andhra Cylinders, a unit of Envy Cylinders, have bagged the orders.

Oil rose on Monday after OPEC agreed to keep output targets unchanged despite a surge in heating fuel demand in the northern winter. The Organization of the Petroleum Exporting Countries decided, as expected, to maintain its production policy and leading member Saudi Arabia said it still favoured oil prices between $70 and $80 per barrel. Oil has surged to above $90 this month as sub-zero temperatures have swept across Europe, the United States and parts of East Asia.

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.