Yesterday Market Summary

Last trading day: Tuesday, 8 December

It was a good day of trade for our market that closed at the day's highs. The market shot up in late trade due to short covering and good buying in frontline stocks. Sensex shut shop at 17227, up 244 points and Nifty is at 5147, up 81 points from the previous close. CNX Midcap index was up 1.26% and BSE Smallcap index was up 0.87%. The market breadth was positive with advances at 921 against declines of 349 on the NSE. Top Nifty gainers included Unitech, Bharti Airtel and DLF while losers were Cipla, SBI and Maruti Suzuki. 

Nifty is likely to head to 5300-5400 by December end, says Sanjay Dutt of Quantum Securities, on CNBC TV18. Midcaps are likely to outperform, he adds. In midcap IT, his top picks are KPIT Cummins andGeometric Ltd. and other value stocks are Strides Arcolab and BASF.

In any correction, in the infrastructure space accumulate GMR Infra, IVRCL Infra, Nagarjuna Constructions and Hindustan Constructions, in the banking space, buy Yes Bank and IndusInd Bank for long term gains, says Gaurang Shah of Geojit BNP Paribas on NDTV Profit.