The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,721 level, a discount of nearly 60 points from the Nifty futures’ previous close.

The broader markets were not spared from the bearish sentiment, as both the Nifty Smallcap100 and Nifty Midcap100 indices closed lower. The Nifty Smallcap100 slipped by 0.93 per cent, reflecting selling pressure in smaller companies,

TCS results will give an indication of what is in store for the IT sector. The strength of the US economy and the depreciation of rupee will be tailwinds for the IT sector.

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.

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,