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The death cross is a technical indicator of bearishness. The death cross appears on a chart when a stock’s short-term simple moving average (SMA) crosses below its long-term moving average on the downside.

The Nifty Auto index was trading 0.92 per cent down at 12984.75.

“The fact that Sensex and Nifty are at record closing highs tells us that the buy on dips strategy has worked well in this market. Therefore, this strategy can be expected to work, going forward, too,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

“It takes a degree of discernment and education to get to a point where you realise most of what people are talking about investing is nonsense, it is a waste of time. Forget about the macro, it is not that it is irrelevant, it is very important but the problem is it is not knowable.”

Stocks of Oriental Carbon (Rs 7 per share), PDS (Rs 2.5 per share), MRF (Rs 3 per share), Bayer CropScience (Rs 100 per share), Sundram Fasteners (Rs 3.57 per share), Quess Corp ( Rs 8 per share), RITES (Rs 4.5 per share), Gabriel India ( Re 0.9 per share), Page Industries (Rs 70 per share), Vidhi Speciality Food (Re 0.4 per share) and IRFC (Re 0.8 per share) will trade ex-dividend today.

The Nifty Bank index was trading 0.19 per cent down at 42452.5.

“In IT, our sense is that risk reward is good with overall global macro sort of improving. With both banks and IT combined, 50% of the Nifty looks sorted and which is why we believe that overall Nifty is headed towards fresh lifetime highs. In addition to that, we are positive on discretionary consumption themes – be it autos or consumer durables."

At the end of the second quarter, HNIs had backed 1,718 companies. However, despite net inflows of Rs 5.6 lakh crore during the quarter, their holding in Q2 declined to a nearly 2-year low of 1.90% quarter from 2.08% at June-end.

BofA Securities is the banker for the deal, and the price range for the sale was set at Rs 555-601. The lower end of the price band is at a 7.7% discount to Wednesday’s close price of Rs 601.45 on the National Stock Exchange.

Infosys Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 671737.59 Crore) operating in IT Software sector.