The stock market opened in the red as trading began on Thursday, January 23, with FMCG, PSU bank, and energy stocks falling the most. At 9:20am, the benchmark BSE Sensex was down by 139.03 points or 0.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,137 level, a discount of nearly 60 points from the Nifty futures’ previous close.

GIFT Nifty futures are indicating a tepid start for the markets. As of around 8:30 AM, GIFT Nifty futures were trading at 23,135, reflecting a minor decline of 0.01%.

Indian benchmark indices extended the selloff on Tuesdays and are poised to close at the lowest level since the June crash. Selloff in Oil and Gas stocks and banks led the declines in the benchmark index. Nifty 50 index fell below 23,000 for the first time since June 7, 2024, and Sensex fell nearly 1,300 points on Tuesday.

For benchmark Nifty 50 index, 23000 would act as a crucial support zone and if sustains above this level, the market could bounce back to the range of 23250-23325 level, said experts

Most of the extreme reactions were triggered by the reactions to earnings, which were either in-line or marginally fell short of expectations. Stretched valuations added to the trouble in such names.

Indian equity benchmarks, BSE Sensex and Nifty50, opened in the red zone on Thursday. The BSE Sensex was trading below 76,300, while Nifty50 hovered near 23,100. At 10 am, the Sensex rose by 200.73 points,

The Nifty 50 ended 130.75 points higher, or a 0.57% gain, to settle at 23,164 points, while the BSE Sensex finished the trade at 76,383 points, 0.72% higher than Tuesday’s close.

The stock market opened in the green for a third time this week as trading began on Wednesday, January 22, 2025, with FMCG, pharma, and IT stocks rising the most. This comes despite a huge crash the market experienced towards the end of the previous day's trading session,