The bulls seem to be on an upswing today and continues to flirt with the 20k mark. Here a quick recap of the last eight trading sessions when the PN issue first hit the news, sending markets into a tizzy.

On October 17, Sebi came out with its draft policy on participatory notes, or P-Notes, after trading hours. The markets panicked next day and the Sensex fell almost 1,500 points, or 7.5%, in intra-day trade, prompting the bourses to suspend trading. Panic selling that day took the Sensex below 18,000. The market finally closed Sensex down 717.43 points, or 3.83%, at 17998.39.

The next day, i.e. October 18, saw a similar story. The Sensex closed down 438.41 points, or 2.44%, at 17559.98. But as clarity began to emerge on the PN front the markets began to stabilize. The index continued its losing streak on October 19; it closed down 438.41 points, or 2.44%, at 17559.98.

On October 22, the Sensex was up 54.01 points, or 0.31%, at 17613.99. The next day, i.e. October 23, the markets were up 878.85 points, or 4.99%, at 18492.84. That session also saw the market moving 900 points in intra-day trade.

The market ended flat amid volatile trades on October 24 ahead of the triple witching day. The Sensex was up 20.07 points, or 0.11%, at 18512.91.

October 25 was also the day of the crucial Sebi board meet, which was to decide on whether the draft PN policy should be passed. The board announced the approval of policy after trading hours that day. The Sensex closed up 257.98 points, or 1.39%, at 18,770.89.

Sebi's decision on PN seemed to have finally gone down well with the markets as it closed up 472.28 points, or 2.52%, at 19243.17 on October 26.