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The stock quoted a 52-week high price of Rs 2379.0 and a 52-week low of Rs 1556.25.

“I feel that inflation will peak out by September or so and then probably start tapering down and that will be good news for our central bank. Let us hope people do not panic and use this opportunity to go out of the weak sectors and stocks that one is not comfortable.”

Bitcoin, the largest crypto token, is barely above the $25,000 level. It has dropped more than 20 per cent over the weekend, with its market cap slipping below $500 billion or half a trillion.

Having plunged 29% since its May 17 debut, India’s biggest ever IPO now ranks second in terms of market capitalization loss since listing, according to data compiled by Bloomberg.

“There is no reason to be in HDFC today given even a 1% risk of the merger not going through; secondly, if the merger does not go through, it does not look like they can survive the onslaught of the bank in this industry. I think it is lame duck stock at this point of time and I am sorry for the stock but they have done it to themselves.”

The Nifty Pharma index closed 1.83 per cent down at 12191.85.

Gold prices traded weak with spot gold prices at COMEX trading 0.70 per cent down... Gold prices traded under pressure on stronger dollar and rise in US bond yields," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities

"It is not a pleasant sight to be looking at the markets this way, but it is not unexpected. This whole year is going to be a weak year from the returns perspective and while the market has seemingly corrected to less than 16,000 on Nifty50, I really do not think that we will still be making positive returns from here on in the remainder of the year," said Mahesh Nandurkar of Jefferies told ET NOW.

The stock quoted a 52-week high price of Rs 440.75 and low of Rs 242.6.

Selling in the Indian market is largely on account of weak global cues, and aggressive rate hikes by central bankers across the globe which could squeeze liquidity, supply shock, rise in inflation, and demand contraction. The volatility is here to stay, highlights experts.​