Mumbai, January 20: Monday saw sell-off in equities, banking stocks in particular and in index-heavyweight Reliance Industries Ltd (RIL). The sell-off was in the form of profit-booking as the Q3 results from some of the banking majors and RIL were below expectation. However, Asian markets were upbeat as optimism prevailed at higher level post last week’s signing of China-US trade deal. Also, ahead of the budget market had more than adequate run up, hence some resistance was expected, dealers said.