The trends on Gift Nifty indicate a flat-to-positive start for the Indian benchmark index. The Gift Nifty was trading around 23,480 level, a premium of nearly 20 points from the Nifty futures’ previous close.

Despite a 25-basis-point repo rate cut by the Reserve Bank of India, the market closed largely in the red. However, midcap stocks continued to outperform, with the midcap index closing in positive territory.

Indian equity markets started the week on a weaker note, with key indices slipping in early trade. The NSE Nifty 50 opened at 23,522.45, falling 37.50 points or 0.16 %, while the BSE Sensex dropped 250.62 points or 0.32% to 77,609.57.

The Indian stock market faced selling pressure for the fourth day on February 10, with Sensex dropping over 600 points to 77,189.04 and Nifty 50 falling nearly 200 points to 23,357.60.