Gift Nifty was trading around 23,322 level, a discount of nearly 55 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

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

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.

Gift Nifty was trading around 23,406 level, a premium of nearly 140 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

The Sensex slipped 423.49 points, or 0.55%, to close at 76,619.33. Likewise, Nifty 50 declined 108.60 points, or 0.47%, to end at 23.203.20.

Indian equity benchmarks, BSE Sensex and Nifty50, saw a sharp decline in opening trade on Friday. BSE Sensex fell over 450 points, while Nifty50 dropped below 23,200. At 10 am, the Sensex dropped by 363.

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.