Indian equity benchmark indices, BSE Sensex and Nifty50, tanked in opening trade on Friday. While BSE Sensex was down oner 450 points, Nifty50 was below 23,200.

Asian equities also dropped in early trading, influenced by uncertainty in the US market. Investors are awaiting key Chinese economic data, including fourth-quarter growth figures

The fall in IT stocks was a result of Infosys’ shares falling over 5.3% after the company reported its Q3 results yesterday. The drop, however, came as a surprise as the company raised its revenue forecast.

Markets in India are expected to open higher following a strong showing on Wall Street after a lower-than-expected core inflation reading there

The biggest Sensex gainers included Adani Ports, SBI, Bajaj Finserv, Airtel and Tata Motors while losers were HCL Tech, Nestle Infosys, HUL and ITC

The S&P BSE Sensex was down 430.02 points to 76,612.80, while the NSE Nifty50 tumbled 121.05 points to 23,190.75 as of 9:22 AM.

Reliance Industries Ltd., HDFC Bank Ltd., Maruti Suzuki Ltd., Kotak Mahindra Bank Ltd., Larsen & Toubro added to the Nifty 50 index.

The stock market plunged into the red on Friday, January 17, as IT, private banks, and auto stocks fell. At 9:20am, the benchmark BSE Sensex was down by 451 points or 0.59%, reaching 76,591.82. The broader NSE Nifty was down by 140.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,325 level, a discount of nearly 52 points from the Nifty futures’ previous close.