Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 ended a volatile session on Thursday around one percent lower each, amid weakness across global markets after the Fed said it is likely to hike interest rates in March. Losses in IT, oil & gas and consumer shares pulled the headline indices lower. The fag-end recovery in both Sensex and Nifty50 was driven by a rebound in banking stocks. Broader markets also weakened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices falling 1.1 percent and 0.7 percent respectively. The US central bank also reaffirmed plans to end its bond purchases in March in what Chairman Jerome Powell pledged will be a sustained battle to tame inflation. 

Vanguard Group, Nippon Life India Asset Management and Axis Asset Management are in the running for IDFC's mutual fund business. The last big merger in AMC was when Nippon Life bought 22.49 percent in Reliance Nippon Life Asset Management in 2019, now named Nippon India Mutual Fund.

Zomato shares have been in a free fall. In the last five trading sessions, the stock has tumbled over 30 percent. The stock is now on the list of additional surveillance measure (ASM) of both exchanges. What does this mean for the stock? That and more answered.

In an interview to CNBC-TV18, Paul Schulte Founder & Editor of Schulte Research said India was seen as a safe haven from the chaos in China but believes that some of the money could swing back to China as it has started to ease rates.