Around 11:05 am, Sensex was trading 448.21 points lower at 77,700.28 and Nifty was down 142.85 points to 23,546.10

The Indian stock market is likely to open on a cautious note as indicated by the GIFT Nifty, which is down by 20 points in early trade currently at 23,703. The muted sentiment comes amid a broader sell-off across Asian markets,

The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 23,770 level, a discount of nearly 25 points from the Nifty futures’ previous close.

The S&P BSE Sensex tumbled 245.54 points to 77,902.95, while the NSE Nifty50 was down by 76.35 points to 23,612.60 as of 9:30 AM.

Benchmark equity indices Sensex and Nifty witnessed a sharp decline of 1.6% on Monday, driven by a broad-based selloff. Investor sentiment was dampened by concerns over slow third-quarter earnings growth and a continued outflow of foreign capital,

On January 7, the Indian stock market benchmarks, Sensex and Nifty 50, gained over half a per cent in intraday trade even as HMPV virus fears persist.