Indian benchmark indices are poised for a muted start on Wednesday, with the Gift Nifty indicating a flat opening for the Nifty 50 and Sensex.
The indicator is trading around the 23,868 level, representing a premium of approximately 15 points over Nifty futures, suggesting that the selling pressure seen in previous sessions has eased ahead of the market open.
This tentative stabilization follows a sharp decline on Tuesday, when the Nifty 50 slipped below the critical 24,000 support level.
The broader market weakness was driven by mixed cues from global markets and a notable selloff in US technology stocks, which weighed heavily on sentiment among Indian investors.
On Tuesday, the Sensex lost 893 points, or 1.16%, to close at 76,200.68, while the Nifty 50 shed 279 points to end at 23,824.10.
The broad-based sell-off was anchored by heavy losses in key sectors, reflecting risk-off positioning as global tech valuations faced scrutiny.