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“For 2022, we expect it to be more of a domestic-led growth and there are three key engines for that particular growth.”

“Currently, the uncertainty around the quantum of a rate hike by the US Fed is spooking markets the world over and participants expect clarity in the scheduled FOMC meeting outcome on January 26,” said Ajit Mishra, VP Research, Religare Broking.

“Auto still remains a value play though whether the value is right now disruptive or whether it is going to emerge is a difficult call to take.”

Bitcoin was trading at $35,572, while other major altcoins were also down by double digits, at 5 pm, Saturday, on Coinbase.

Police say the company owned by 38-year-old Glaidson Acacio dos Santos had total transactions worth at least $7 billion ($38 billion reais) from 2015 through mid-2021 as part of a Bitcoin-based Ponzi scheme that promised investors 10% monthly returns.

By March, the company said it will expand the programme to 10,000 users before rolling out crypto wallets to the rest of the WenWallets waitlist.

Over the past seven trading days, Bitcoin has shed around 20% of its value compared with nearly 30% for Ether. Solana’s SOL and DeFi-play Avalanche’s AVAX token have fallen nearly 38% each. And the wipeout in memecoins has been profound: Dogecoin is down 30% on the week while Shiba Inu is off 38%, according to CoinMarketCap.

"Rising crude and trade deficit has been keeping the currency under pressure and even FPI outflows have been a constant pressure on the rupee...," said Sajal Gupta, Head, Forex and Rates at Edelweiss Securities.

Legislation introduced earlier this month by Democratic senators Jon Ossoff of Georgia and Mark Kelly of Arizona would require members of Congress, their spouses and dependent children to place their investments in a blind trust.

“The offer comprises a fresh issue of up to Rs 500 crore and an offer for sale of 25,050,543 equity shares by existing investors/ shareholders,” according to the draft red herring prospectus (DRHP) filed with the market regulators on Saturday.