The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,583 level, a discount of nearly 63 points from the Nifty futures’ previous close.

With today's fall, Sensex and Nifty have entered in a correction phase. From its 52-week high of 85,978.25 (touched in September 2024), Sensex has crashed 8,599.34 points or 10 per cent. Likewise, the Nifty 50 index has fallen 2,

The BSE Sensex was trading 161.87 points or 0.21 per cent lower at 77,458.34. Nifty stood at 23,448.55, down 77.95 points or 0.33 per cent. Midcap and smallcap indices fell up to 1.8 per cent.

The Indian market closed lower on January 10 after a highly volatile session, with the Nifty falling below 23,350. The decline was driven by broad-based selling across sectors, except for IT stocks, which surged following TCS's better-than-expected Q3 results.

Indian stock market benchmarks Sensex and Nifty 50 fell 0.80% in intraday trade on January 9, marking the second consecutive session of decline due to weak global cues and rising US dollar and bond yields.