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JK Lakshmi Cement Ltd. key Products/Revenue Segments include Cement, Clinker and Other Operating Revenue for the year ending 31-Mar-2023.

​I think broadly, directionally, earnings momentum and economy remains in good shape. So, probably a pullback or some consolidation should be healthy for the market from a slightly more medium-term perspective. So, I think any pullback in that sense should be a good opportunity for long-term investors to step in.

Rajat Sharma, Founder & CEO of Sana Securities, indicated a strategic shift from overheated PSU and defense stocks to large-cap private sector banks like HDFC Bank and Kotak Mahindra Bank. Sharma also expressed faith in the FMCG sector despite its underperformance. With significant cash positions, Sana Securities plans incremental investments in equity amidst current market valuations.

In the first quarter earnings season, 109 companies released their financial results. Bharti Airtel was projected to achieve Rs 38,488 crore in revenue for Q1 2024, showing a 2.6% annual rise. Estimated net profits varied between Rs 3,922 crore and Rs 2,068 crore, with challenges noted in the DTH sector and ARPU stabilization.

The equity benchmarks experienced notable declines, breaking a five-day upward trend amidst a global sell-off. Key stocks included Zomato, which gained significantly, ITC, which saw slight losses, and Adani Wilmar, which increased. Analysts highlighted bullish trends in Zomato and Adani Wilmar, while ITC may see a pivotal move if it surpasses 500 levels.

Bitcoin and Ether fell to multi-month lows as concerns about a potential U.S. recession spurred investors to seek safer assets. After an initial boost from the approval of an exchange-traded fund, fears of a broader economic downturn and geopolitical issues led to a significant selloff. Bitcoin dropped nearly 20% from its March 2024 high.

The Korea Exchange activated sidecar trading curbs on the KOSPI market, halting program trading for five minutes on Monday, as the benchmark KOSPI fell 5% by 11:11 a.m. local time, following a 3.7% drop on Friday, marking its worst session since March 2020.

The Topix and Nikkei 225 Stock Average fell about 5%, with the former set for a three-day decline that would be the worst since the 2011 Fukushima nuclear meltdown and put them near bear markets. A circuit breaker halted trading of Topix futures for about 10 minutes.

At least 11 firms, including Indus Towers Ltd., have or are set to approve share buybacks shortly after the new regime was proposed in the budget on July 23. This is a jump from the average of about four transactions per month in 2023, data from primeinfobase.com show.