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Among Sensex stocks, Bharti Airtel, HDFC, HUL, Nestle, Reliance and M&M were the top laggards. L&T, IndusInd Bank, Axis Bank and ICICI Bank also opened with cuts. However, Tata Motors, Tata Steel, Titan, Infosys and HCL Tech opened with gains.

Growth in advanced economies is projected to slow to 0.5% in 2023. from 2.5% in 2022.. In the United States, growth is forecast to fall to 0.5% in 2023- 1.9 percentage points below previous forecasts and the weakest performance outside of official recessions since 1970 while the euro-area growth is expected at zero percent—a downward revision of 1.9 percentage points.

Investors are betting that the upcoming inflation report could show further deceleration, potentially giving the Fed room to slow the pace of interest rate rises, said Stephen Wu, economist at Commonwealth Bank of Australia.

During this period, the price has made a Lower Top Lower Bottom Pattern. At a lower level, the stock moved sideways for a few weeks and after consolidating in a range; the price has given some pullback with high volumes.

"Diesel generators will remain main products, but we will also move into hydrogen-based generators," said Sanjay Jadhav, CEO, Sterling Generators. "We have all the infrastructure required to make them. We are looking to forge technology alliances for the same."

Federal Reserve chair Jerome Powell did not give any policy clues during a panel discussion in Stockholm overnight, and with other Fed officials saying their next moves will be data-dependent, investors are keenly focused on U.S. CPI data.

Recent comments by other Fed officials have supported the view that the central bank needs to remain aggressive in raising interest rates to control inflation. Fed Governor Michelle Bowman said on Tuesday the bank will have to raise interest rates further to combat high inflation.

In the letter on Tuesday, the consortium has also sought a copy of the relevant minutes of the MC meetings in which the matter of CEO-designate Sanjiv Kapoor was "discussed and deliberated". "We request you to forthwith share a copy of the relevant minutes of the Monitoring Committee meeting in which this matter was discussed and deliberated and/or a resolution was passed to issue such a letter to Kapoor," it stated.

The PFC-REC team received 95% of lender votes by value of debt, while Adani Power secured 17%, people cited above told ET. The voting percentages need not total up to 100 as lenders could vote for one offer, an alternative, or all of the options on the table. Reliance Industries, the third bidder in the fray, did not receive any votes, said the people cited above.

The administrator Nageswara Rao Y received 98% vote from lenders in favour of a second auction even as the National Company Law Tribunal (NCLT) will on Thursday hear a petition opposing the new auction filed by Torrent Investments, a bidder in the fray for acquiring the company.