Market Alert: Global Weakness, IT Stocks Plunge, Commodities Fall; Key Earnings Impact

• Indian markets face a negative opening, indicated by GIFT Nifty's 136-point weakness, following a sharp decline in US markets.
• IT stocks are under severe pressure, with Infosys and Wipro ADRs down up to 10%, and the Nifty IT index experiencing its biggest drop in 6 years.
• Commodity markets are also volatile: silver plunged 11%, gold 3%, and crude oil fell by about 3% after strong US job data.
• Major companies like ONGC, Coal India, and Hindalco reported weaker-than-expected Q3 results, citing profit and revenue declines.
• Lupin and Muthoot Finance posted strong Q3 results, while Biocon's results were weaker; January retail inflation rose to 2.75%.