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Sebi has not announced any measures to curb the surge in derivatives trading following its board meeting on Monday. Market participants were anticipating some action related to the futures and options market. Among the proposed measures that were expected include limiting the number of options with weekly expirations and raising the minimum contract size. However, it was not to be the case this time.

Sebi) on Monday reviewed the performance of the Beta version of the optional T+0 settlement cycle and enhanced its scope by approving an increase in the number of scrips eligible for trading from 25 to top 500 listed companies in terms of market capitalisation. It will be done in a phased manner, a Sebi release said.

Bitcoin (BTC) lost ground Monday morning, giving back some of the gains posted during what has been a positive month for the legacy cryptocurrency.

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Benchmark NSE Nifty closed 368.11 points down at 25810.85 amid selling in frontline bluechip counters.

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The Orissa Minerals Development Company Ltd.(up 5.90%), NMDC Ltd.(up 4.14%), Lexus Granito(India)Ltd.(up 2.05%), MOIL Ltd.(up 2.03%), KIOCL Ltd.(up 1.91%), 20 Microns Ltd.(up 1.05%) and Sandur Manganese & Iron Ores Ltd.(up 0.68%) stood among the top gainers.

Indian Oil Corporation (IOC) on Monday announced that it has withdrawn its Rs 22,000 crore rights issue as the government will not participate owing to the non-allocation of funds to the oil marketing companies (OMCs) in the Budget 2024-25. “This is in continuation of our earlier intimation dated 07.07.2023 wherein it was informed that the Board has accorded approval for raising of capital by way of issue of equity shares on right basis up to an amount not exceeding Rs 22,000 crore (Rupees Twenty-Two Thousand crore only), subject to receipt of necessary statutory approvals,” said IoC’s filing to the stock exchanges.

Motilal Oswal named HCL Technologies, LTIMindtree, Persistent Systems and Coforge as its top picks in the sector. “Among Tier-I players, we prefer HCLT and LTIM for their strong capabilities in data engineering, ER&D offerings (HCLT) and ERP modernization, making them well-suited for pre-GenAI spending. For Tier-II players, our top picks are PSYS and COFORGE, both poised for strong performance,” said the domestic brokerage firm in its report.

The cost of trading Futures & Options (F&O) involves brokerage fees which account for 51% of the transaction costs, then exchanges take 20% and the government collects the remaining 29% as taxes, a Capitalmind Financial Services note said, informing that approximately 1 crore individual traders have contributed around Rs 50,000 crores in transaction costs over the past three years.

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The CSI 300 Index jumped 8.5% Monday, marking the most since 2008 as traders rushed to buy shares in the last session before a week-long holiday. The index, which lost more than 45% of its value from a 2021 high through mid-September, has since soared more than 20% to enter a technical bull market. Its rally last week was the biggest in 16 years.

Ashok Leyland Ltd. fell 0.39 per cent to Rs 238.8 in Monday's trade as of 01:07PM (IST) even as the benchmark Nifty ruled at 25883.65, down 295.3 points. The scrip had closed at Rs 239.75 in the previous session. The stock quoted a 52-week low of Rs 157.65 and a high of Rs 264.7. The company quoted a market-cap of Rs 70121.88 crore on the BSE.

ICICI Lombard General Insurance Company Ltd. rose 1.14 per cent to Rs 2211.05 in Monday's trade. It hit an intraday high of Rs 2238.7 and low of Rs 2189.35, respectively, during the day. The stock quoted a 52-week high price of Rs 2285.85 and low of Rs 1266.0.

Lupin Ltd. dropped 0.96 per cent to Rs 2200.05 at 12:48PM (IST) in Monday's trade. The scrip has hit a high of Rs 2217.7 and low of Rs 2171.25 so far during the session. The stock had closed at Rs 2221.5 in the previous session. The counter has had a total traded volume of 26947 shares so far with a value of Rs 5.91 crore on the NSE. It traded at a price-to-earnings multiple of 44.33 and a price-to-book ratio of 5.16.

Siemens Ltd. dropped 0.01 per cent to Rs 7299.1 at 12:57PM (IST) in Monday's trade. The scrip has hit a high of Rs 7310.0 and low of Rs 7188.4 so far during the session. The stock had closed at Rs 7300.0 in the previous session. The counter has had a total traded volume of 6254 shares so far with a value of Rs 4.52 crore on the NSE. It traded at a price-to-earnings multiple of 105.33 and a price-to-book ratio of 9.99.

MphasiS Ltd. slipped 2.13 per cent to Rs 3015.35 in Monday's trade as of 01:03PM (IST). The stock hit a high price of Rs 3099.0 and low of Rs 3013.5 during the session.

«So, from today onwards 26,500 is an important mark which was a high for Friday. Post that gap up, we have filled that gap and we are still continuing with the downside. So, I believe now 26,400, 26,500 is an important resistance point on Nifty Futures,» says Aditya Arora, Adlytick. First of all, help us with your take on the benchmark indices because believe that you were not holding that positive stance on the markets. Given the fall, help us understand how do you see the markets moving ahead? Are we in for some more correction or the markets can find some ground here? Aditya Arora: Look, today tables have turned and it is an important pivot point because since last 20-30 days midcaps and smallcaps were underperforming and largecaps were outperforming. Today it is an important reversal day wherein largecaps are underperforming. Look at Reliance Industries, it has given up all the gains which it had made on Friday, so that is important and look at other IT majors also, they are also underperforming.

Punjab National Bank traded at Rs 108.25 on BSE at 12:37PM (IST) on Monday, down 0.91 per cent from previous close. The scrip quoted a 52-week low price of Rs 67.34 and a high of Rs 142.9.

«Wherever anybody invested, one has made money. Not only that, last three-four years, I do not think at any point in the last three-four years, we have not had this discussion that market looks expensive,» says Dhirendra Kumar, CEO, Value Research. There is a time when you buy equities, you would be disproportionately rewarded. But there are times when you invest into equities, your future returns will get compromised. Are we in that phase for next three years where every equity investor now needs to take a hard look at their asset allocation toward equities and say, okay, it has been good last two or three years, it is time for me to check my equity allocation. Maybe 15, if not 15, at least 10% should be moved into fixed income instruments. Dhirendra Kumar: It does depend on how experienced that investor is. If that investor came three years ago, it would be very difficult for anybody to persuade him to move to fixed income because he has just been used to a different kind of market.