Sensex slips into red; M&M becomes top Sensex gainer, HFCL gains over 8 per cent

Market Update at 2:45 PM: Sensex slipped into the red zone during the afternoon session even as M&M topped the list of Sensex gainers, up by more than 2 per cent.   

IndusInd Bank, Titan, and UltraTech Cement are the major Sensex gainers while ONGC, Sun Pharma, and Power Grid are the worst-performing Sensex stocks in today's session.   

 BSE Small-cap is trading in the green, showcasing outperformance while BSE Mid-cap is trading flat with negative bias.   

 Automotive Axles, TCI Express, and Shakti Pumps are emerging as the top small-cap gainers in today's trading session while Adani Transmission, Cholamandalam Investment & Finance, and Oberoi Realty are the top mid-cap gainers.   

 Except for BSE Realty, BSE Capital Goods, BSE Consumer Durables and BSE Power, all other sectoral indices are in red.  

Market Update at 10:30 AM:Sensex is trading in green helped by M&M, IndusInd Bank and Titan.  

M&M is the top Sensex gainer while ONGC is the top Sensex loser. The advance-decline ratio for Sensex stocks is in favour of decliners.  

BSE Metal index is the worst-performing sectoral index in today's session while BSE Consumer Durables index is the top-performing sectoral index.  

Both BSE Small-cap and BSE Mid-cap are trading in the green on Thursday.  

Adani Transmission, ICICI Securities, and BHEL are amongst the top-performing mid-caps while Shakti Pumps, Automotive Axles, and TCI Express are amongst the top-performing small-caps.  

Tata Steel, Jindal Steel, Hindalco, and SAIL are each trading down between 3 and 4 per cent in today's morning session.  

Nifty opened the session on a weak note but made an attempt to move up in the early part of the session. However, it failed to hold at higher levels and traded in negative terrain for the rest of the session amid volatility and hit the day’s low of 15,008. At close, Nifty settled at 15,030, down by 0.52 per cent.   

The price action of the day formed a small bearish candle, which resembles a shooting star pattern on the daily chart. Also, Nifty has negated its formation of higher highs and higher lows formation of the last two sessions. It closed below the previous day’s low as well as near the day’s low; thus, it’s time to be cautious.  

Going ahead, Tuesday’s gap area is likely to act as an important support level. In any case, a decline below the zone of 14,938-14,880 is nothing but a failed breakout. In such a case, this could be the fourth failed breakout. On the other hand, if bulls move above the level of 15,137, they may gain strength and also, log a fresh all-time high in the near term.   

On the daily chart, the RSI came back into the channel. The daily MACD is bullish and stays above the signal line.   

Overall, the level of 14,880-14,938 is crucial to watch out for as a move below this would result in a failed breakout of the index.