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The Nifty Pharma index closed 1.75 per cent down at 13245.35.

The Nifty Realty index was trading 2.77 per cent down at 512.3.

“We are heavily overweight on financials, discretionary consumption and industrials. Our horizon of building a portfolio is somewhere between 18 and 36 months. Some stocks are with an 18-month horizon, some have a three-year horizon. It is not meant for next quarter or two.”

“I would give six months to a year to get the full operational synergies in place for Principal AMC acquisition.”

In the international market, both gold and silver were trading flat at USD 1,846 per ounce and USD 24.85 per ounce, respectively.

As of 30-Sep-2021, promoters held 44.76 per cent stake in the company, while FIIs held 25.1 per cent and domestic institutional investors had 12.21 per cent.

Last month, Paras Defence and Space Technologies had witnessed a dream debut on Friday as the scrip got listed at Rs 475 on the BSE against its issue price of Rs 175, a listing gain of 171 per cent. Analysts said a strong trend was given, all thanks to record subscription levels the Rs 600-crore issue received during the offer period.

"I would be more comfortable or bullish on the underlying cycle than I would necessarily be in terms of stocks because the easy pickings have probably already been made."

Shares of Paytm have been on a free fall since listing, declining as much as 41 per cent. In just two sessions, it is close to hitting the 12-month target provided by Macquarie last week. A similar story is playing out in Policybazaar’s shares, which have plunged about 18 per cent in two sessions. Zomato is also down about 16 per cent in the last four sessions.

On the technical charts, the 200-day moving average of the stock stood at Rs 2098.84.