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Domestic equities traded lackluster today as profit booking was seen after a sharp rally over last three sessions. Global markets were also trading cautiously ahead of BoJ’s meeting on Tuesday, where the central bank may announce the plan to end its ultra-loose monetary policy. Nifty ended the session with loss of 38 points at 21419 levels. The broader market however ended in green with Midcap100/SMallcap100 up 0.2%/0.6%. Sector wise it was a mixed bag with Pharma, Auto, Metals, Infra being marginal gainers. Banking and IT stocks took a breather as the sentiment was dampened after several Fed officials hinted that the U.S. Federal Reserve might not cut rates next year. Niche sectors like sugar, shipping and defense stocks were in focus today. Sugar stocks bounced back after the government allowed sugar mills to use both sugarcane juice and B-heavy molasses to produce ethanol while strong domestic order lifted defense stocks. Overall we remain bullish on the market given the robust domestic economic data, healthy corporate earnings, and strong FII flows. However, given the recent strong rally, bouts of volatility can’t be ruled out. Apart from BoJ policy meet, European CPI data and China’s trade balance would be important events to track on Tuesday.