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None of the tokens was trading in the green during the early hours on Thursday. Bitcoin plunged 8 per cent whereas Ethereum dropped 13 per cent. And the pain in altcoins was more intense.

The stock formed a ‘head and shoulder’ pattern on the weekly charts and is on the verge of a fresh breakdown below the neckline of the pattern formation.

On May 9, the rupee had settled at a record closing low of 77.4650/$1. On Thursday, the domestic unit moved in a band of 77.3260-77.5930/$1.

Data showed BSE m-cap fell by Rs 5.16 lakh crore to Rs 241.15 lakh crore from Rs 246.31 lakh crore in the previous session. The BSE m-cap on April 11 stood at Rs 275.17 lakh crore.

The Relative Strength Index of the stock stood at 39.82 on Thursday.

A total of 102,257 shares changed hands on the counter till 10:30AM (IST).

In the spot market, highest purity gold was sold at Rs 51,205 per 10 gram while silver was priced at Rs 61,450 per kg on Wednesday, according to the Indian Bullion and Jewellers Association.

Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 90336.34 Crore) operating in Metals - Non Ferrous sector.

“BFSI as a sector looks very interesting and particularly private sector banks like HDFC, Kotak, Axis Bank and ICICI Bank are capex oriented plays. We are seeing numbers of all of these companies coming out with flying colours. So. one needs to increase SIPs in equities, maybe also into banking SIPs if somebody is a little more of risk-taker but at least increase their banking allocation into their portfolios.”

Citing a slowdown in economic growth, pressure on current account deficit due to soaring oil prices and compression in the margin cycle, James Sullivan, Head of Asia Pacific Equity Research, JPMorgan, said they are taking a relatively cautious outlook for India as a whole.