The BSE Sensex declined 573.81 points or 0.75 per cent to 75,616.65. Nifty stood at 22,919.15, down 173.05 points or 0.75 per cent. Zomato Ltd declined 2 per cent to Rs 211 and was the worst Sensex performer.

Sensex Drops Over 400 Points In Early Trade, Nifty Below 23,000-Mark

The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 22,932 level, a discount of nearly 180 points from the Nifty futures’ previous close.

The markets delivered negative returns for the third consecutive week on Friday, a trend last seen three months ago. The midcap index gave up Thursday’s gains today, dropping 836 points to 53,263, and the Nifty Bank index ended 221 points lower at 48,

Indian equity indices opened Monday’s trading session gap-down. The NSE Nifty 50 opened 171 points, or 0.74%, lower at 22,921.20, while the BSE Sensex fell 490.03 points, or 0.64%, to open at 75,700.43.

In the next week, it is believed that Indian stocks consolidation phase is in the final stage, with resilience of large-cap stocks indicating a positive sign. Investors are guided to remain patient and adopt a accumulating strategy.

Indian equity benchmarks, BSE Sensex and Nifty50, started Friday on a positive note but erased the gains later. At 10 am, the Sensex dropped by 180.68 points, or 0.24 per cent, to 76,339.70, while the Nifty fell by 69.