After a day’s halt in a declining trend, the Indian markets witnessed heavy selling intraday on Friday.
Underperforming the benchmarks, even the broader markets extended decline as both mid and small-cap slipped around 2 and 1.5 per cent, respectively, intraday today.
The global markets, especially the US markets, on Thursday closed in the red with the Nasdaq slipping most by around 2.5 per cent, followed by S&P 500 down nearly 1 per cent, while the Dow Jones closed flat with negative bias.
The foreign institutional investors continued to be selling spree being cautious on multiple fronts.
The United States recently reported lower than expected economic data at 0.5 per cent year-on-year, the expectations by the majority of the analyst were at around 0.7 per cent.
Although Omicron, the new Covid variant is not much hazardous, as per World Health Organisation, the scare related to it continues as earlier this week the first death was reported in the United Kingdom due to it.
The benchmark indices of the emerging markets have likely to be adapting to the hawkish stance of the key central banks, including the US Federal Reserve.