The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,561 level, a discount of nearly 54 points from the Nifty futures’ previous close.

The stock market plunged into the red upon opening as trading began on Monday, February 10, 2025, dragged down by metal and healthcare stocks. At 9:20 am IST, the benchmark BSE Sensex was down by 302.

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.

For Nifty-50 index, the recent low of 23,200 remains a crucial support level to sustain a positive positional bias, while the 23,900 mark serves as a major resistance, said experts.

The Nifty 50 has dropped 4.4 per cent since the last policy meeting in December, impacted by weak corporate earnings and a slowing economy.