Market wrap: Sensex drops 36 pts, Nifty down 24,320

The domestic share market indices traded lower in a highly volatile session on Monday, dragged down by metal and bank stocks that fell the most.FMCG stocks saw heightened investor interest after the index was the top gainer.At close, the Sensex was down 36.22 points or 0.05 percent at 79,960.38 and the Nifty was down 3.30 points or 0.01 percent at 24,320.55. About 1,570 shares advanced, 1,988 shares declined, and 95 shares were unchanged.
Meanwhile,markets are focused on upcoming June quarter earnings reports. The IT sector is poised to kick off its Q1FY25 earnings season starting from July 11, beginning with Tata Consultancy Services (TCS), the country's largest software exporter.
ONGC, ITC, HDFC Life, HUL and Tata Consumer Products were the top gainers on the Nifty, while losers included Divis Labs, Titan Company, BPCL, Shriram Finance and Adani Ports.
On the sectoral front, capital goods, FMCG and oil & gas up 0.6-1.5 percent, while auto, bank, healthcare, metal, realty, power, telecom down 0.4-0.8 percent.The BSE midcap and smallcap indices ended marginally lower.
Rupee Close: 
On 08 July'24,the Indian rupee falls 1 paisa to close at 83.50,  as muted domestic equities weighed on investor sentiments.
Trading Guide: 
Vinod Nair, Head of Research, Geojit Financial Services said,the market is turning to a consolidation phase due to the absence of major triggers to support the current premium valuation in the near term, prompting investors to book some profits. The earnings season is around the corner, and the initial expectation is subdued. With stable input prices and ongoing price cuts, the period of margin expansion appears to be concluding, which is likely to affect earnings and valuations.
Market experts have recommended buying these five buy or sell stocks — Zydus Wellness, Voltamp, Coromandel International, Exide Industries, and IRCTC.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)