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In the Sensex pack, SBI and ICICI Bank were the top laggards, down 2-3%. Axis Bank, Bajaj Finance, UltraTech Cement, HDFC, HDFC Bank, L&T and NTPC also opened with losses.

"Wherever there was a little bit of over pricing, there is always a trigger, where if that over pricing was going to take a much longer period of time, it probably accelerates and we could see a more than disproportionate impact on us. So, even a slightly bad miss could have a very large impact when the sentiment is reasonably bad."

VIP Industries has announced a dividend of Rs 2 per share. In the past 12 months, the company has declared an equity dividend amounting to Rs 5 per share. At the current share price levels, it results in a dividend yield of 0.73%. The company is engaged in the business of luggage and travel accessories and is one of the largest luggage maker in India.

Whirlpool of India, incorporated in the year 1960, is a Large Cap company (having a market cap of Rs 17057.92 Crore) operating in Consumer Durables sector.

A total of 376,264 shares changed hands on the counter till 10:05AM (IST).

Adani Green Energy’s 4.375% bond due Sept. 2024 declined more than 12 cents on the dollar to 66.75 cents in high-yield secondary trading, according to Trace data. One of Adani’s other green bonds fell 9 cents on the dollar, but did not yet reach distressed level.

Meta stock surged nearly 19% in after-hours trade. If gains hold on Thursday, it would set up the shares for their biggest intraday surge in a decade and added more than $75.5 billion to its existing $401 billion market capitalization.

The Nifty IT index closed 0.93 per cent up at 30018.25.

Policymakers lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of 4.5% to 4.75%. The smaller move followed a half-point increase in December and four jumbo-sized 75 basis-point hikes prior to that.

"Given the unprecedented situation and the current market volatility the Company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction," the company said