Range bound movement was there in the market today. Equity benchmarks continued to be directionless due to lack of global and domestic cues. The Sensex fell 36 points to 25586 and the Nifty declined 3 points to 7787. Global financial services major UBS today said it is "overweight" on India but sees limited room for a re-rating and forecast an end-2016 Nifty target of 8,200. Limited room for a re-rating and forecast an end-2016 Nifty target of 8200 based on a 15x one-year forward PE multiple.In today’s trade TATASTEEL, VEDL, GAIL was the top gainers while PNB, BANKBARODA, SBIN, was the top most losers stock of the day. Most Active Securities of today was JETAIRWAYS, TATASTEEL, and RELINFRA. Today’s most active stock RELINFRA was trading almost 2% up with the volume of 1,01,74,693. In index option 8000 CE & 7800 PE was mostly traded by trader. The volume of 8000 CE was 2,33,012 while the volume of 7700 PE was 1,61,166. In the stock option SBIN 220 PE was traded with very high volume of 1,778.