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.

Infosys, Axis Bank, Shriram Finance, Kotak Mahindra Bank, M&M were among major losers on the Nifty, while gainers included BPCL, Reliance Industries, Bharat Electronics, Nestle India and Hindalco Industries.

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

Benchmark NSE Nifty50 index ended down 108.6 points at 23203.2, while the BSE Sensex stood 423.49 points at 76619.33. Among the 50 stocks in the Nifty index, 29 ended in the green

BSE Midcap and Smallcap indices ended flat. Among sectors, IT and Bank indices shed 2 percent each, while oil & gas, power, FMCG, PSU, capital goods, realty and metal indices added 1 percent each.

Stock Market in India are likely to open on a cautious note today, following mixed global cues as investors focus on companies reporting December quarter results

The Nifty 50 ended the session with a gain of 0.16% at 23,213, while the Sensex closed at 76,724 marking a 0.29% increase from the previous close. The Nifty Smallcap 100 index rose by 0.56% to 17,353,

Investors will focus on Q3 reslts, alongside economic data which will help in determining the rate cut trajectory from US Federal Reserves.

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session in the green. Nifty 50 closed at 23,311.80, while Sensex ended at 77,042.82. Overnight, Wall Street indices ended lower. Asian stocks were also in the red in early trade today.

The Indian market ended lower, breaking a three-day winning streak, with the Nifty closing around 23,200. This decline was driven by selling in IT and banking stocks, despite strong quarterly results from sector heavyweights Infosys and Axis Bank for the December quarter.