Gift Nifty Signals Weak Start for Friday After Thursday's Market Meltdown

• Gift Nifty indicates a likely negative start for domestic equities on Friday, trading down 93 points at 23,027.
• Benchmark equity indices Sensex and Nifty 50 plunged over 3% on Thursday, snapping a three-day rally.
• Broad-based selling pressure hit all 16 major sectoral indices, with financial and banking stocks falling around 3%.
• Global and macroeconomic factors like escalating Middle East tensions, surging Brent crude prices, and a hawkish US Federal Reserve stance weighed on investor sentiment.
• The Indian rupee depreciated sharply to a record low of 92.89 against the US dollar, adding to inflationary concerns and potential capital outflows.