Indian equity market witnessed the volatile session throughout the day ahead of RBI credit policy announcement on 3 feb. Nifty ends below its pshycological level of 8,800 at 8,797.40 plunged by -11.50 points while tracking the momentum sensex ended the day at 29,122.27 down by 60.68 points.

The Reserve Bank of India will announce its credit policy on February 3 after governor Raghuram Rajan surprised the street with an out of turn repo rate cut of 25 bps on January 15, 2015 on the premise that inflation number has come down and would remain largely range bound in the next few months.

HCL Technologies added another 5 percent to Friday’s rally as brokerages appeared bullish on the stock. CLSA raised target price to Rs 2,200 and expects to see continued earnings surprises & re-rating potential. Citi too raised the target to Rs 2,175 on their sole ‘buy ‘ call in the Indian IT services space.

Among the sectorial indices CNX IT was the top performer of the day surging 1.01% followed by CNX Realty(0.55%) and CNX Auto(0.51%) meanwhile CNX FMCG was the worst performer down by -1.54%.

Market Breath remained positive for the day with 689 shares ended in green, 467 in red and 46 remain unchanged.

Out of 50 stocks of Nifty 21 stocks advanced and 29 declined.

Top 5 Nifty Gainers: HCL (5.95%), Axis Bank (5.55%), Hindalco (3.90%), Wipro (3.14%) and Kotak Bank (2.75%) led the gainers list.

Top 5 Nifty Losers: Asian Paints (-5.70%), Bharti Airtel (-3.67%), Dr Reddy (-2.92%), Jindal Steel (-2.87%), and ACC (-2.74%)

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