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The market extended its southward journey for the second trading session of the October month with the Sensex falling 296.02 points or 1.11 percent to 26271.97 on Tuesday. The Nifty closed way below the 7900, down 93.15 points or 1.17 percent to 7852.40. About 1120 shares advanced while 1762 shares declined on the BSE. Hindalco Industries, Sesa Sterlite, Cipla, Dr Reddy's Labs, HDFC, DLF, Jindal Steel and Cairn India were top losers, falling 3-6 percent while NTPC, Gail India and Power Grid bucked the trend, up 1-1.5 percent followed by Tata Motors, Wipro and Tata Power with marginal gains. Today Stock Tips Kitex Garments Limited for long term buy Cmp:338rs Target:475rs Return percentage:40% Duration:9-12 months 5 year CAGR return expected:25-30% 5 year target potential range:1031rs-1254rs Kitex Garments Ltd manufactures toddler wear for most of the international brands such as MotherCare, Toys R Us, Gerber etc and is ranked as the third largest company of such type in the world.Company also supplies to jockey.Group employees to over 8000 peeps.It is the only company in the world which uses Acutex 1 quality of input.Add up more safety features like 100% certified safe process and organic dyes using threads from the number 1 codes etc which makes it the most favorable supplier for infant clothes.The company has to its credit the Best Vendor Award from Toys R Us and Gerber for the past couple of years(among over 280 rivals).

The market remained strong in morning trade with the Sensex surging 281.73 points or 1.07 percent to 26528.52 and the Nifty climbing 84.10 points or 1.07 percent to 7926.80 supported by broadbased buying. Market expert Ambareesh Baliga sees 7,800-7,750 as good support level for the Nifty. In an interview with CNBC-TV18, he said Nifty is unlikely to go much beyond 8,000 levels. He remains positive on cyclicals and expects them to become more attractive post any market correction. According to Baliga, the next leg of market rally will be led by cyclicals. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 1.4 percent each. Advancing shares outnumbered declining ones by a ratio of 1544 to 380 on the Bombay Stock Exchange. The BSE Capital Goods, Realty, Metal, Banks, Healthcare, Power and Oil & Gas indices gained 1-1.7 percent. Hindalco and BHEL kept their top positions in the buying list, up 4.8 percent and 3.5 percent, respectively. Dr Reddy's Labs, Cipla, HDFC, Bank of Baroda, Ambuja Cements and PNB surged 2-2.6 percent. However, NTPC and Bajaj Auto were only losers in the Sensex 30 stocks.