INSUBCONTINENT EXCLUSIVE:
Sensex had tanked 770 points or 1.29 per cent to close at 58,788 on Thursday.New Delhi: The Indian equity benchmarks on Friday extended fall
in opening deals led by weakness in information technology and auto stocks
As of 9:18 am, the benchmark BSE Sensex slipped 207 points or 0.35 per cent to 58,581, while the broader NSE Nifty moved 68 points or 0.39
per cent lower to 17,492.Asian stocks recovered some of their steep losses from the previous session after United States markets limited
Apple reported record sales in the holiday quarter, beating estimates
Its shares rose over 5 per cent in after-hours trading.Back home, mid- and small-cap shares were in the negative zone as Nifty Midcap 100
index was down 0.43 per cent and small-cap shares were trading 0.45 per cent lower.On the stock-specific front, Hero MotoCorp was the top
Nifty laggard as the stock cracked 1.26 per cent to Rs 2,746.65
HCL Tech, Tata Consultancy Services and Reliance Industries were also among the laggards.In contrast, ONGC, Tata Steel, Hindalco, JSW Steel
and Grasim Industries were among the gainers.On BSE, the overall market breadth was positive as 1,713 shares were advancing while 915 were
declining.On the 30-share BSE platform, TCS, Titan, Wipro, HCL Tech and Infosys attracted the most losses with their shares sliding as much
as 1.28 per cent.Meanwhile, Tata Steel, Shree Cement, Bank of India, InterGlobe Aviation (IndiGo's parent) and One 97 Communications
(Paytm's parent) are among the companies which will announce their December quarter results later in the day.Sensex had tanked 770 points
or 1.29 per cent to close at 58,788 on Thursday, while the broader NSE Nifty had plunged 220 points or 1.24 per cent to settle at
17,560.Overnight, the euro posted its sharpest jump in more than a year after European Central Bank President Christine Lagarde left the
door open to rate hikes this year and said inflation was running hotter for longer than expected.The Bank of England raised rates to 0.5%
and nearly half its policymakers wanted a bigger increase
economic news with mixed corporate earnings, geopolitical unrest and the prospect of a more hawkish Federal Reserve.United States markets
had opened higher after the Commerce Department's advance take on fourth-quarter GDP showed the United States economy in 2021 grew 6.9
per cent at its fastest pace in nearly four decades
But gains were pared as investors processed how strong economic growth might inform the Fed's thinking.In its latest policy update, the
Fed indicated it was likely to raise rates in March, as widely expected, and reaffirmed plans to end its pandemic-era bond purchases that
month before launching a significant reduction in its asset holdings.Meta plummeted more than 26 per cent on Thursday, losing more-than-$200
billion of its market capitalisation in what was the largest single-day slide in value by a United States company
It dragged the Nasdaq down 3.7 per cent, its worst day in 17 months.However, Amazon reported better-than-expected earnings after the bell
and the share jumped 17 per cent, driving Nasdaq 100 futures up 1.7 per cent and bolstering sentiment in Asia.
