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Traders remained on the sidelines in the run up to Budget 2024. The S&P BSE Sensex fell over 100 points while Nifty50 closed above 24,500 levels. Sectorally, auto, power, PSU and utilities saw buying action, while some selling was seen in oil & gas, bank and realty stocks.

The Nifty Realty index closed 0.48 per cent down at 1090.9.

The Nifty Realty index was trading 0.5 per cent down at 1090.75.

"Free reserves of Rs 28.31 crore will be utilised for the bonus issue. Bonus issue is aimed at to reward existing shareholders, enhance liquidity, and expand the shareholder base," the company said.

Though the 30-share index fell over 103 points, or 0.13%, to settle at 80,502 and the broader NSE Nifty dropped 22 points, or 0.09%, investors reaped Rs 2.07 lakh crore reward. From the Sensex pack, RIL and Kotak Mahindra Bank were top laggards, falling about 3.5%. ITC, SBI, HCL Tech, IndusInd Bank, Bajaj Finance and Bajaj Finserv also closed lower, while NTPC, UltraTech Cement, HDFC Bank, and Tata Steel closed higher.

Ahead of the union budget, Indian benchmark indices closed marginally lower on Monday. The BSE Sensex dropped 102 points to settle at 80,502, while the NSE Nifty ended down 21 points at 24,509.

The stock of Persistent Systems staged a recovery on Monday with nearly 4% gain after losing over 6% on Friday following a sequential fall in net profit and contraction in operating margin for the June quarter. A ramp up in large deals, H1B processing costs and expenses towards ESOP took a toll on profitability.

​The company has fixed a price band of Rs 90-95 per share, where investors can bid for 150 shares in one lot. About 50% in the IPO is reserved for qualified institutional buyers (QIB), 35% for retail investors and 15% for non-institutional investors.

Amid discussions on regulatory measures to deter retail traders from risking savings on F&O, the Economic Survey cautioned that traders facing losses could feel victimized by undisclosed influences. It also criticized market practices resembling highly leveraged bets seen as financial innovations in developed countries, deeming them unsuitable for a developing nation with low per-capita income.

Geopolitical tensions are intense and all over the place. The Middle East, the problems around Gaza which are now spreading across the region to Yemen and so forth, then geopolitical risk in terms of a change in the US administration and the possibility of, say, across-the-board tariffs. These are real risks that have to be reckoned with, says Abheek Barua.