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Benchmark NSE Nifty closed 72.96 points down at 24781.1 amid selling in frontline bluechip counters.

KCP Sugar & Industries Corporation Ltd.(up 1.27%) stood among the top gainers.

The underlying trend of Nifty remains weak within range movement. Having failed to sustain the recent upside bounce, the market could revisit the lower range of 24,600-24,500 levels in the near term. Immediate resistance is at 25,000 levels, said Nagaraj Shetti of HDFC Securities.

Dangee Dums Ltd.(up 2.84%), Procter & Gamble Hygiene & Healthcare Ltd.(up 2.25%), Heritage Foods Ltd.(up 1.86%), Nakoda Group Of Industries Ltd.(up 1.32%), Hatsun Agro Products Ltd.(up 1.16%), Jyothy Labs Ltd.(up 1.06%), Patanjali Foods Ltd.(up 0.61%) and Nestle India Ltd.(up 0.19%) stood among the top gainers.

Oriental Trimex Ltd.(up 4.97%), 20 Microns Ltd.(up 2.06%) and Ashapura Minechem Ltd.(up 0.37%) stood among the top gainers.

JP Morgan has initiated coverage on Ultratech Cement and 3 other cement stocks with an upside potential of up to 31% on the belief that the sector is set for consolidation with the larger players likely to become more aggressive. “India cement sector looks set for consolidation with the larger players turning aggressive,” said JP Morgan in its note.

Losses for the July-September 2024 period are likely to widen up to Rs 660 crore from Rs 290 crore in the same period of last year. Meanwhile, revenue from operations is seen growing up to 16% year-on-year (YoY).

«I do not see more than 3% to 5% kind of a price correction. But, however, in terms of broader market, we might see some more amount of correction and valuation comfort to still emerge,» says CA Rudramurthy BV, MD, Vachana Investments. After 100 points move on the upside that we had seen on Friday, again, markets are down around 100 odd points, how is the Nifty charts in fact looking like on the technical front. CA Rudramurthy BV: For me if you take a medium to longer timeframe horizon on market, we have seen already a very-very good rally and now we should see some amount of time-wise correction and that will be very healthy for markets for medium to longer timeframe.

Afcons Infrastructure will open for subscription on October 25 and bidding for the issue can be done till October 29. Through the IPO, the Shapoorji Pallonji Group's infrastructure engineering and construction company plans to raise around Rs 5430 crore. The company has fixed a price band of Rs 440-463 per share, where investors can bid for 32 shares in one lot.

Pidilite Industries Ltd. traded at Rs 3158.2 on BSE at 01:33PM (IST) on Monday, down 0.83 per cent. The stock quoted a 52-week low price of Rs 2293.1 and a high of Rs 3414.4. Earlier in the day, the stock saw a gap down opening.

Marico Ltd. slipped 1.09 per cent to Rs 661.85 in Monday's trade as of 01:28PM (IST). The stock hit a high price of Rs 669.35 and low of Rs 658.35 during the session.

SRF Ltd. rose 1.77 per cent to Rs 2284.3 in Monday's trade. It hit an intraday high of Rs 2335.0 and low of Rs 2257.6, respectively, during the day. The stock quoted a 52-week high price of Rs 2697.45 and low of Rs 2081.25.

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Most technical and derivatives indicators point towards a consolidation this week, with markets likely to be further driven by quarterly earnings, FII flows, geo-politics, and global market sentiments, Aamar Deo Singh, Senior Vice President-Equity, Commodity & Currency at Angel One said. This analyst spells-out strategy in previous week’s major movers viz. Bajaj Auto, Avenue Supermarts (DMart), Adani Green Energy and three more stocks. Excerpts: A lackluster beginning after a poor show in the previous week where Nifty ended with weekly declines of 0.44%. What does the chart indicate about its trajectory and what are the important levels for Nifty and Bank Nifty? Markets witnessed choppy trading sessions last week with the benchmark index Bank Nifty saving the day. A sharp rally in ICICI Bank, Axis Bank, SBI and HDFC Bank helped in the benchmark indices recover from the lows of the week with Nifty ending lower with weekly decline of 0.44% whereas Bank Nifty ended the week in the green, up 1.8% WoW.

Info Edge (India) Ltd. dropped 1.56 per cent to Rs 7962.0 at 12:32PM (IST) in Monday's trade. The scrip hit a high of Rs 8161.1 and low of Rs 7960.85 so far during the session. The stock had closed at Rs 8088.3 in the previous session. The counter had a total traded volume of 12:32PM shares so far with a turnover of Rs 0.42 crore on BSE. The stock traded at a price-to-earnings multiple of 159.04 and a price-to-book ratio of 2.39.

«Any company which basically focuses not only on the top end, but something that is value for money, significant value for money, for the bottom 60%, those will be the companies which will survive and do exceedingly well as our per capita income goes up,» says Milind Karmarkar, Dalal & Broacha Portfolio Manager Nikunj Dalmia: So, what is looking good for next three to five years? What is the big picture? Milind Karmarkar: So, frankly, as I have always said that for me the mega trend continues to be consumption. And when I say consumption, as you know that it encompasses a lot of sectors. But within that, what looks interesting is that if you divide the Indian population into different quartiles, one realises that at least 70% or at least 65% of the families are such who do not have any money after their day-to-day expenses. So, any company which basically focuses not only on the top end, but something that is value for money, significant value for money, for the bottom 60%, those will be the companies which will survive and do exceedingly well as our per capita income goes up.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. traded 0.96 per cent down in Monday's trade at 12:27PM (IST). Around 4,582 shares changed hands on the counter. The stock opened at Rs 6004.2 and touched an intraday high and low of Rs 6092.0 and Rs 5965.35, respectively, in the session so far. Shares of the company of <a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. quoted a 52-week high of Rs 6276.2 and a 52-week low of Rs 3300.0.

Cholamandalam Investment & Finance Company Ltd. traded 0.51 per cent down at Rs 1454.0 at 11:55AM (IST) on Monday, even as BSE benchmark Sensex dropped 171.78 points to 81052.97. The scrip had closed at Rs 1461.55 in the previous session. The stock quoted a 52-week high price of Rs 1650.0 and 52-week low of Rs 1011.5, respectively. As per BSE data, total traded volume on the counter till 11:55AM (IST) stood at 5591 shares with a turnover of Rs 0.82 crore.

smallcap company Netweb Technologies surged 10% to its new all-time high of Rs 2,949.65 on the BSE after reporting a 69.7% YoY (year-on-year) jump in its profit after tax (PAT) to Rs 25.7 crore. The same stood at Rs 15.14 crore in the second quarter of the financial year 2024.

Manappuram Finance slid 17% to Rs 145.50 in the last 2 trading sessions after the Reserve Bank of India (RBI) imposed restrictions on four NBFCs (including Manappuram’s subsidiary) citing material supervisory concerns. The restrictions will be effective from October 21, 2024 on four NBFCs Asirvad Micro Finance (a subsidiary of Manappuram Finance), Arohan Financial Services, DMI Finance, and Navi Finserv.