Mumbai: The benchmark equity indices on the BSE and National Stock Exchange (NSE) opened over 1.5 percent lower on Friday taking cues from their global peers. The Nifty 50 fell 290.15 points to 16,372.50.
Vedanta, COFORGE LTD, Info Edge, and Voltas were the top losers of the stock market today, and very few stocks are in the green Tata Comm is the only stock to gain more than 2% it is up by 28.35 points or 2.78 percent.
On the Sensex pack, HCL Tech, Wipro, Bajaj Finserv, Bajaj Finance, Maruti Suzuki, and Infosys were the top laggards in early trade while only M&M and RIL were in the green.
After investors made complaints that increasing interest rates could harm global economic development, Asian stocks fell on Friday, while the dollar and Treasury yields gained in a reverse of a day earlier.
The market is concerned that the Federal Reserve of the United States and other major national banks may have to increase interest rates even faster than expected to combat high inflation, perhaps causing economies to enter a recession.
(Smit Soni)