Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Thursday. While BSE Sensex was below 76,300, Nifty50 was near 23,100.

Analysts suggest that while talks of the US potentially lowering tariffs on China could offer temporary relief, underlying concerns continue to weigh on the markets.

Benchmark indices rise driven by IT stocks, while broader markets face selling pressure; market breadth remains negative.

Indian equity indices opened Wednesday’s trading session gap-up. The NSE Nifty 50 opened 50 points, or 0.22%, higher at 23,074.65, while the BSE Sensex rose 185 points, or 0.24%, to open at 76,023.44. The overnight rally in the US markets boosted sentiments.

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.