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.

Nifty on the weekly chart formed a small bullish candle with minor upper and lower shadows. Technically, this weekly market action signals the formation of a type of candle pattern. Normally a doji pattern after a reasonable weakness could be an impending reversal signal post-confirmation.

Infosys, Axis Bank, Kotak Mahindra Bank, M&M and TCS were among the major losers on the Sensex, while Zomato, Reliance Industries, Nestle India, Tata Steel and Asian Paints emerged as the top gainers

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.

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

Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:

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.