Bulls On The Back Foot At The Start Of The Week As Global And Local Cues Remained In Favour Of Bears

The #Nifty started the week on the backfoot with a 5-month low hit in early trade. Software stocks were beaten black-blue. #TCS closed below 200-DMA. Earnings-led sell-off was seen in #Honasa. #IGL #MGL lost ground on news the Govt had cut low-price gas APM allocation for CGDs for 2nd month.

Winners:
#NALCO led metal counters higher. Top volume since Dec 15/2023. 

#BSE and #CDSL continue to roar. Both will be a part of #FnO from Dec's expiry.

#bancoIndia record high on strong Q2. Ditto #HEROMOTOCO 

Renewables were seeing bottomfishing -- #suzlon #waareeener and #PremierEne posted gains.

Overall, market consolidates around 200-DMA, more pain seen.