Nifty, Sensex open deep in the red Indian equity benchmarks plunged in early trade on Friday, extending their losses for the fourth straight session, reflecting a sell-off in Wall Street stocks overnight after data showed economic resilience and reinforced the Federal Reserve's higher for longer interest rates rhetoric.
The BSE Sensex crashed 491.15 points, or 0.81 per cent, to 60,335.07 in early trade, and the broader NSE Nifty index fell below 18,000 for the first time since November, and was last down 145.95 points, or 0.81 per cent, at 17,981.40.
The Sensex pack's main laggards included Tata Motors, Tata Steel, State Bank of India, Infosys, HDFC, HDFC Bank, Bajaj Finance, and Power Grid.
Asian markets eased on Friday, mirroring a decline on Wall Street and the dollar strengthened on Friday as solid US data stoked concerns that the Fed will need to maintain its hawkish stance in order to contain inflation.
The largest Asia-Pacific share index outside of Japan, as measured by MSCI, fell in Asian trading hours, ending a two-day gaining streak.
Those positive data points, which would often be seen favourably, has increased investor concerns that the Fed funds target rate may rise higher and remain there longer than anticipated, increasing the likelihood of an economic slowdown.

Source- https://www.ndtv.com/business/stock-market-india-sensex-declines-over-290-points-extending-losses-for-fourth-straight-day-3631360#pfrom=home-business_topstories

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