The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 22,093 level, a discount of nearly 167 points from the Nifty futures’ previous close.

The 30-share BSE Sensex opened below the 73,000 mark at 72,817.34, down 268.6 points from the previous session’s closing. The broader Nifty 50 index opened at 21,974.45

Coal India, Reliance Industries, IndusInd Bank, Adani Enterprises, and Bajaj Finserv were the major losers in the Nifty 50, dragging markets lower. Also, the market breadth is fully in support of the bears as 2,268 stocks declined out of 2,799 traded stocks.