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Nifty50 formed a bearish candle, the third in a row, on the daily chart. It made a lower-high lower-low for the fourth straight session. Analysts said the level of 15,800 may offer some support to the index, failing which the ongoing weakness may intensify.

The global crude benchmark fell as much as 5.1% to trade under $95 a barrel, touching its lowest level since late February. Crude has been in decline since early June on escalating fears the US may be pushed into a recession. Shortly after the war began, Brent futures skyrocketed to above $139 as Russia’s war in Ukraine disrupted an already tight supply-demand balance.

"If that data come in materially stronger than expected it would make me lean towards a larger hike at the July meeting to the extent it shows demand is not slowing down fast enough to get inflation down," Waller said in a speech to an economic conference.

Chief Executive Jamie Dimon stressed the need to build capital reserves, while flagging a number of concerns including the war in Ukraine, high inflation and the "never-before-seen" quantitative tightening as threats to global economic growth.

The Dow Jones Industrial Average shed 603 points, or 1.96%, while the S&P 500 dropped 2%. The Nasdaq Composite tumbled 1.96%.

L&T Infotech Results: Revenue for the quarter rose 30.6 per cent YoY to Rs 4,522.80 crore from Rs 3,462.50 crore in the corresponding quarter last year. Ebit margin came in at 16 per cent against 17.3 per cent in the March quarter and 16.4 per cent in the year-ago quarter.

At the interbank foreign exchange market, the local currency opened strong at 79.72 and witnessed an intra-day high of 79.71 and a low of 79.92 against the US dollar in the day trade.The local unit finally settled at 79.90 a dollar, down 9 paise over its previous close.

Volumes of securitization, where a financier raises money by giving up on future loan receivables, in the first quarter could have been even higher but for the rising inflation and higher interest rates that have spawned caution over the repayment ability of borrowers, and divergent yield expectations among originators and investors, it said.

Total revenue from operations during the quarter under review was Rs 4,468.42 crore as against Rs 3,884.94 crore in the year-ago period.Total expenses were at Rs 4,221.74 crore as compared with Rs 3,175.47 crore earlier.

Lunolux acquired 1.68 crore equity shares of Eureka Forbes constituting 8.7 per cent of the equity share capital of Eureka Forbes from Shapoorji Pallonji and Company on July 12, 2022, said a regulatory update by the manufacturer of the vacuum cleaner and water purifier.