Indian market traded in red and in a small range. AUTO, IT and TELECOM attracted buying while BANKING, REALITY, FMCG and CEMENTS faced selling. SENSEX closed at 20875, down 56 points and Nifty at 6275, down 25 points from the previous close. CNX MIDCAP index was up 0.3% and BSE SMALLCAP index was up 0.9%. The market breadth was positive with advances at 763 against declines of 539 on the NSE. Top Nifty gainers were MAHINDRA & MAHINDRA, TATA MOTORS and BPCL while losers included AMBUJA CEMENTS, BHARTI AIRTEL and RANBAXY. The FIIs were the net sellers with sales to the tune of Rs 32.52 cr. (prov cash market fig.)

In the next session, again, NIFTY may trade in the range 6240-6325 if sustained above 6325 NIFTY may test 6370 while reaching of 6240 level may attract heavy selling pressure. BANKING STOCKS and METALS may face selling pressure at igher levels RELAESTATE, SUGAR and IT may attract buying.

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

State-owned Power Finance Corporation (PFC) on Wednesday announced a net profit of Rs 701 crore for the quarter nded September 30, a jump of about 10 per cent over the same period last year. Total income of the company grew 24 per ent to Rs 2,538 crore, from Rs 2,064 crore in the corresponding period last fiscal.

The world's second-largest branded tea maker Tata Global Beverages (TGB) is planning to raise $200 million from private quity investors by selling a stake in its UK arm.

The above mentioned ideologies are based on the research done at Fairwealth research department. Fairwealth ecurities Ltd will not be responsible for any kind of losses incurred by any part either directly or indirectly based on our esearch results, though we have presented to the best of our knowledge.