Lackluster session of trade, banks continue to be culprits

It was not a great day. It's a combination of the market being a bit nervous before the monetary policy on Tuesday on talks of 50 basis points gaining ground and some disappointing earnings from important companies from the manufacturing and auto sectors like Crompton Greaves and TVS Motors and also some of the PSU banks results were not great. It might have sullied the mood a little bit.

It wasn't a good day. The Nifty went down all the way to 5710, before pulling back a little bit, to close around 5740-5750. It was a step back. It's down 2.2% for the week as well.
Today, the culprits were the banks. The Bank Nifty was 1.6% down. Axis Bank has seen a steep correction this week of about 11%. Today, it was down 4% as well. HDFC Bank, HDFC, IDFC and State Bank of India were losing candidates. Infrastructure was not a good player. Crompton Greaves was down 10%, but it had its toll on names like L&T, JP Associates and many stocks outside the index like Punj Lloyd, GMR and IVRCL as well.
ONGC has had a great run, but today it corrected. Bharti corrected because of a Fitch outlook change. JSPL was another stock which was down. Infosys was not very strong due to the important events that will take place tomorrow.
On the winning side, there were hardly any stocks. The defensives were doing better. HUL and ITC and some of the pharmaceutical names like Sun, Ranbaxy and Reliance picked up a bit towards the end with a 1% move. That that helped the Nifty out a little bit as well.
There were a lot of losers in the midcap space. TVS Motors came in with a sub par set of earnings and that stock reacted 6%. Bank names like UCO Bank, Oriental Bank of Commerce, Vijaya Bank and Dena Bank were all down. Real estate looked quite nervous along with the banks. HDIL was the one which was punished. The losing stocks were Delta Corp, IRB and United Phosphorous.
There weren