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The Dow Jones Industrial Average dropped 2.4%, or 730 points, falling below the 30,000 mark and to its lowest level in over a year. The S&P 500 slipped 2.7% while the Nasdaq Composite slid 2.8%.

IT bellwether Infosys hit a low of Rs 1,392. Tech Mahindra ended the day at Rs 974.75, down 4.5 per cent, after hitting a low of Rs 971. Wipro hit a low of Rs 419.75 before ending the day at Rs 421.85, down 4.15 per cent.

"Our strategy of continuing to grow market share is very strong and it continues to be a high priority for us. In terms of value addition, one of our core strategies is to sometimes even cannibalise our own products with higher value-added products. In our company, key focus is on new products and R&D," says Vayu Garware.

"The stocks trading at high valuations and sectors like IT, metals have been impacted the most. In such a situation, preservation of capital is the best theme. Investing in a balanced portfolio of equity, debt and cash is a must. In equities, safe sectors will be those that are least impacted by inflation and aggressive policies such as finance.

“If you have a one-year timeframe, blue chip largecap holdings can be kept on hold. But if you extend the tenure to two-three years, then adding good quality midcaps would definitely add value to the portfolio because midcaps are generally more closely linked to domestic economic growth and that is where the future wealth creation will happen.”

Thursday in line with recovery in global prices, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 50,581 per 10 grams.Silver also jumped by Rs 37 to Rs 60,525 per kg from Rs 60,488 per kg in the previous trade.

During the day, the 50-pack index could not hold its key support levels as it entered the oversold territory, as suggested by the 14-day relative strength index. While the trend broadly stays positive, some bounce after the steep fall is likely.

Expectation is that US central bank could raise rates by 50 bps. Hawkish comments could continue to keep the dollar supported at lower levels. Major crosses remained under pressure following broad gains in the dollar,"

Kripa Securities now plans to expand its footprint in cities like Durgapur, and Siliguri in West Bengal as well as in northeast states, director at the firm Ajay Sureka told ET.

People who have invested a few years ago probably are still sitting on really large gains, Kamath said while still questioning the crypto market cap of $3 trillion (at the end of 2021).