After opening the day on a weak note, indices recouped early losses on Monday but ended slightly weaker as a weak global market mood weighed on sentiment.

Indian equities closed modestly lower on Monday, ending a two-session advance as weakness in auto and financial stocks dragged.

At the closing bell, the BSE Sensex closed lower by 54 points (down 0.1%).

Meanwhile, the NSE Nifty closed 20 points lower (down 0.1%).

HUL, Trent and Shriram Finance are among the top gainers today.

ONGC, M&M and Eicher Motors, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 26,107, down by 28 points at the time of writing.

The BSE MidCap index ended 0.2% higher, and the BSE SmallCap index ended 0.4% lower.

Sectoral indices were trading mixed, with stocks in the FMCG sector and the IT sector witnessing buying. Meanwhile, stocks in the telecom sector and the auto sector are witnessing selling pressure.

The rupee is trading at 90.74 against the US$.

Gold prices for the latest contract on MCX are trading 1.2% higher at Rs 135,277 per 10 grams.

Meanwhile, silver prices were trading 2.8% higher at Rs 198,190 per 1 kg.
 

Urban Company Shares Fall 6%

Shares of newly listed Urban Company declined nearly 6% on 15 December after the expiry of its three-month shareholder lock-in period.

The stock slipped to Rs 121.4, marking its lowest level since listing in September. With the lock-in ending today, around 41.5 m crore shares-representing nearly 3% of the company's equity-have become eligible for trading.

Based on the previous closing price of Rs 128.84 per share, the shares unlocking are valued at approximately Rs 5.4 bn.

However, the expiry of the lock-in does not necessarily mean that all these shares will be sold in the market immediately.
 

Wakefit Shares Rose 10% today. Here's Why

Moving on, Wakefit Innovations shares recovered sharply from their intraday lows and were trading over 10% higher on Monday, after a muted listing.

The stock hit a low of Rs 177.25 per share on the NSE before bouncing back. At around 2 pm, it was trading at Rs 195.81 per share, up 0.5%.

Shares of the home and furnishing company made a flat debut against the issue price of Rs 195.

On the BSE, the stock listed at Rs 194.10, down 0.5% from the issue price, and later fell 9.1% to Rs 177.25.

On the NSE, Wakefit shares were listed at par at Rs 195. The company's market valuation stood at Rs 61.5 bn.

The company's Rs 12.9 bn initial public offering was subscribed over two times on the final day of bidding on Wednesday last week.
 

Refex Industries Shares Rebound 19% After Three-Day Slide

Moving on, shares of Refex Industries surged over 19% on December 15 after touching a fresh 52-week low earlier in the session, following a sharp sell-off over the previous three trading days. The stock had fallen nearly 16% intraday to hit a low of Rs 215.10 before staging a strong recovery.

Overall, the shares had declined around 34% over the past three sessions, weighed down by concerns after the company disclosed Income Tax Department search operations at its premises.

On December 12, Refex Industries informed exchanges that the Income Tax Department had conducted searches at its registered office and certain related locations on December 9. The company said it had extended full cooperation to the authorities and provided all relevant information during the process.

It also clarified that its business operations remain unaffected and continue without interruption.

In a subsequent exchange filing dated December 14, the company stated that it has not received any communication from the Income Tax Department indicating any adverse findings from the search operations.

Separately, in another filing on December 14, Refex Industries disclosed that the Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 10 lakh on its Chairman and Managing Director, Anil Jain.

The regulator alleged that Jain was involved in insider trading by sharing unpublished price-sensitive information, enabling certain individuals to make unlawful gains of Rs 12.33 lakh.
 

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