It was a nervous day on Dalal Street ahead of that big event tomorrow, that’s the credit policy, at least moments there was a new high and they would see bout of profit booking. Lets start from the stop for the Nifty though we made a high of about 4,100 in the beginning of today’s trading session but it was very jacquard, slipped in the red for a wee bit and had a very flat closed just about a shade in the green. Similar movement for the Sensex although a bit better about a 31 point gained for the Sensex, made a high of about 14000, crossed that mark but then finally ended flat. We are not alone in this, if you pull up the entire Asian pack also, it started off very well for itself and finally closed very flat for all those indices as well. Nikkei just about a tad in the green, Hang Seng just a tad, it was Shanghai, which held out all its gains up about 3.5% for that particular index. This ripple effect sort of flowed down to the broader market as well which for the better part of today’s trading session held out well in favour of the green, finally ended very flat for itself.

The advance decline ratio held out in favour of advances, crossed hands and finally closed favoring the declines 450 to just about 610 to the declining lines, pretty much neck to neck. The turnover also just about okay though F&O looked better for itself about 33,500 to the F&O side and a total of about 45,000. Next week if the futures and options expiry so its definitely picking up. For the futures and options side the April series stands at about 15 points discount and the May rollover already has started happening that’s an 18 point discount for the May future series.

Lets pull up all the pockets that were actually under pressure in today’s trading session. Start with pharma, Sun Pharma was at the bottom, 11% down at that counter and Dabur and Orchid on huge volumes also looks fairly week for themselves. FMCG was another space which was not looking too handsome, HLL down about a percent and half, and Dabur Pharma looks fairly weak in today’s trading session. What actually held out was metals, held out very nicely, TISCO counter was very buzzing in fact it was the top traded counter on the futures and options side as well up about almost 5%.

SAIL has some phenomenal volumes 14 million shares traded for that counter and Hindalco also ended positive for itself. IT was the other pack which held out nicely, in fact a couple of brokerages have put a buy rating on Satyam that held out nicely and good volumes as well, Infy and Rolta from the midcap technology space also held out nicely. These are the top traded counters in todays trading session.

RNRL that was a phenomenal moved up about 8% for that counter. These new listings Firstsource and Broadcast Initiatives held out very nicely, Jet Airways also held out very nicely for itself. CLSA has put a buy rating on jet Airways. Gujarat Ambuja Cements also was very actively traded though ended just a tad, Jaiprakash Hydro has been very active on the futures and options side and PFC posted those stellar set of results, also shown some goodish set of volumes. But this is the space that’s actually getting jittery ahead of that credit policy announcements tomorrow. You got heavyweight counters like SBI, which lost about a percent for them, HDFC Bank also from that private banking space. These two counters Bank of India and Indian Bank post those goodish numbers also for the better part of today’s trading session, the counters held out in the green. But finally saw profit booking down about almost 2.5% to about 1% each on those two counters, so big event for the market tomorrow.