Shares of IT companies were leading the list of losers on the bourses on Friday after tech-heavy Nasdaq Composite index in the US witnessed its worst single-day sell-off in 2022 overnight on Thursday.

The Nifty IT index plunged 3.2 per cent on the National Stock Exchange (NSE), and was the worst hit index amid a broad-based sell-off. Individually, all 10 index constituents were down in the dumps led by Coforge (down 9 per cent), Mindtree (5 per cent), LTI (4.8 per cent), and LTTS (4.4 per cent).

Shares of ITC traded 2 per cent higher at Rs 267.25 on the BSE in Friday’s intra-day trade in an otherwise weak market. The surge comes on the back of healthy earnings expectation due to improved cigarette volumes and announcement of dividend. In comparison, at 10:22 am, the S&P BSE Sensex was down 1.8 per cent at 54,695 points.

"A meeting of the board of directors of the company has been convened for May 18, 2022, to consider audited financial results for the quarter ended March 31, 2022.

BJP MP Nishikant Dubey on Friday claimed that the Enforcement Directorate (ED) are raiding multiple locations linked to Jharkhand Mining Department Secretary Pooja Singhal.

Taking to Twitter, the BJP MP said that as many as 20 locations linked with Singhal in Ranchi, Delhi, Rajasthan, and Mumbai are being raided.

The rupee depreciated 38 paise to 76.73 against the US dollar in the opening trade on Friday, weighed down by unabated foreign fund outflows and firm crude oil prices.

At the interbank foreign exchange, the rupee opened at 76.61 against the American dollar, then lost ground to quote at 76.73, registering a fall of 29 paise from the last close.

On Thursday, the rupee had closed at 76.35 against the US dollar.

Elon Musk has secured about $7.1 billion of new financing commitments for his proposed $44 billion takeover of Twitter, winning the backing of some of the world’s largest investors.

He was also expected to serve as temporary chief executive officer of Twitter for a few months after he completes the deal, CNBC reported on Thursday.

Russian President Vladimir Putin held a telephone conversation with Israeli Prime Minister Naftali Bennett to discuss the Ukrainian situation.

The leaders on Thursday paid special attention to humanitarian issues, including the evacuation of civilians held by militants of nationalist battalions from the Azovstal steel plant, Xinhua news agency reported, citing a statement by the Kremlin.

Shares of Wipro hit a fresh 52-week low of Rs 484, down 3 per cent on the BSE in Friday's intra-day trade, extending their fall of the past five days. The stock has dropped 7 per cent during the period after the company reported a disappointing margin for March quarter (Q4FY22).

Going forward, the company has given a tepid guidance of 1 per cent to 3 per cent quarter on quarter (QoQ) in constant currency (CC) terms growth in Q1FY23, which translates into revenues of $2,748 million to $2803 million.

Claiming that the people of the northern part of West Bengal have been deprived of development, two BJP MLAs on Thursday demanded a union territory (UT) for North Bengal at a party rally which was later addressed by Union Home Minister Amit Shah.

BJP national vice-president Dilip Ghosh, a former chief of the party's West Bengal unit, said he agrees with the demand, claiming that the people of the region want it.

Future Enterprises has for Rs 1,266.07 crore sold its 25 per cent stake in Future Generali India Insurance Company (FGIICL) to its joint venture partner Generali Participations Netherlands N. V.

Future Enterprises will continue to hold 24.91 per cent stake in FGIICL. “Pursuant to receipt of the key approvals from governmental and regulatory authorities, the said transaction has been consummated on 5th May,” it said in a stock exchange filing.

Piramal Capital & Housing Finance Limited (PCHFL) is targetting to hire almost 6,000 fresh employees as part of its aggressive expansion plans in the current financial year 2022-23. The company is simultaneously looking to increase its branch network from about 300 to nearly 400 pan India during the same period.

“We estimate to add 5,000 to 6,000 new employees to our workforce in the next 12 months. Our aim is to ramp up our branch network to 700 to cover 1,000 cities in the next 3-4 years,” Piramal Capital managing director Jairam Sridharan told Business Standard here on Thursday.

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