The stock market traded in a range on Monday and at the end of the day, Nifty closed at 24619 after falling 59 points. Sensex also fell by 201 points and closed at 81508.

In today's market, benchmark indices Nifty and Sensex closed in the red due to the fall in heavyweight FMCG stocks and Reliance Industries.

Today, Nifty started trading with a decline of 44 points and also closed above 24600. However, Nifty faced resistance from the upper level. Today was a range-bound market, in which stock-specific action was seen.

The market remained in a range today, indicating that there is good support for Nifty at 24600, while 24800 is emerging as a strong resistance level. The market remained in consolidation today and is waiting for a trigger to move further. After last week's gain, Nifty is consolidating at the level of 24600.

Benchmark indices fell for the second consecutive session due to a heavy decline in heavyweight stocks like FMCG and Reliance Industries. Although banking stocks, especially HDFC Bank and the IT pack, gave some support to the market, they were insufficient to lift the index.

Nifty and Sensex continued to decline for the second consecutive day after Friday. However, mid-cap and small-cap stocks continued their winning streak. Nifty Midcap 100 rose 0.51% to 59,002, indicating a rise for the seventh consecutive session. Similarly, Nifty Smallcap 100 continued its rally for the 12th session, rising 0.19% to 19,528.

Nifty 50 Top Gainers

In today's market, counters like Wipro, L&T, SBI Life, Tata Steel, and BPCL were seen among the top gainers in the Nifty 50. Wipro and L&T gained more than 2%. SBI Life was up by 1.50%.

If we look at the top losers of Nifty 50, the big names of the FMC sector were among the top losers today. These include Tata Consumer (4% decline), HUL (3.30% decline), and Nestle India (1.70% decline). Other top losers of Nifty 50 include Tata Motors and Axis Bank (2-2% decline).