Nifty up 41 pts at 4574; Sensex up 161 pts at 14994

Markets off day's high on profit booking in line with Asian peers. Sensex ended up 161 pts at 14994 It was down 470 pts from day's high. Nifty ended up 41 pts at 4574. It was down nearly 150 pts from day's high. Cnx Midcap Index was down 0.23%, BSE Small-cap Index was down 2%, IT Index up 2.14%; Satyam up 5.7%, Wipro up 5.3%, Infosys up 2.2%, BSE Realty Index was down 2.14%; DLF was down 1.4%, Unitech was down 3.4%., Index Gainers were stocks like Tata Motors was up 5%, SAIL was up 4.4%, Nalco was up 4.2%, M&M was up 3.6%. Non-index gainers were stocks like Yes Bank was up 7.6%. Management said that they are not having any uncovered forex exposures. Among Losers were stocks like Guj NRE Coke was down 8.5%, IFCI was down 6.6%, Neyveli Lignite was down 6.24%. NSE Advance Decline at 1:2 It sliped from 5:1 in the morning. Total market turnover at Rs 66083.25 cr

FNO Snapshot
Rollovers remain low on account of long weekend. Marketwide Rollover at 11%, Nifty Rollover at 17%, Nifty March and April Futures account fro around 50% of total F&O turnover.
Nifty Short Rollover cost varies from 15-20 points
Nifty 4800 March Call sees strong Open Interest Buildup
Nifty 4500 March Put sees strong Open Interest Buildup

Strong Rollovers
Strong Rollovers were seen in stocks likeBharat Forge: 8.7 lakh shares added in April; Rollover at 44%; High Long Rollover cost were seen in stcoks like Indian Hotels:14.4 lakh shares added in April; Rollover at 20%
Hindalco: 23.6 lakh shares addedin April; Rollover at 22%.
Large Cap Banks: ICICI Bank, HDFC Bank. In IT Space: Wipro, Infosys. Other Large Caps: ACC, Sun Pharma, Tata Motors.
Short Covering: Yes Bank, Orchid Chem, Punj Lloyd.

Asia Today
Asian markets end firm after 75 bps fed rate cut, Goldman, Lehman’s earnings beat street expectations.
Most of the Asian markets witness profit booking at high levels.
Most of the Asian markets off nearly 1-1.5% from day's high.

Taiwan Flows
Taiwan: FIIs net buy equities worth $ 88 m in today’s trade (Prov).
FIIs net sold equities worth $ 2.8 bn in last 7 trdaing sessions .

Data To Watch Today
Petroleum Status Report, Morgan Stanley earning.

Data To Watch Tomorrow
U.S. Jobless Claims Data
Quadruple Witching: contracts for stock index futures, stock index options, stock options and single stock futures (SSF) all expire.
Quadruple Witching days occur on the third Friday of March, June, September and December
Leading Indicators Data (composite index of ten economic indicators that should lead overall economic activity).