The trends on Gift Nifty indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 23,715 level, a premium of nearly 25 points from the Nifty futures’ previous close.

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.

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.

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,810 level, a premium of nearly 35 points from the Nifty futures’ previous close.

Expectations of an interest rate cut announcement, along with quarterly earnings and global market moves are expected to drive the markets today

The Indian stock market opened on a cautious note ahead of the Reserve Bank of India’s (RBI) crucial monetary policy announcement scheduled for Friday. The BSE Sensex edged up by 121.16 points, opening at 78,

On NSE, nine sectors advanced, three declined out of 12. The NSE Nifty FMC declined the most, and the NSE Nifty Oil & Gas rose the most. The BSE Midcap and Smallcap indices were trading higher in early trade.

The stock market went into the red upon opening as trading began on Friday, February 7, the day the new Reserve Bank of India (RBI) governor Sanjay Malhotra is set to announce the interest rate decision of the Monetary Policy Committee (MPC).

The 30-share BSE Sensex fell 213.12 points or 0.27 per cent to end the session at 78,058.16. The NSE Nifty 50 index fell 68.35 points or 0.39 per cent finishing the day at 23,627.95.

Indian benchmark indices, Sensex and Nifty, opened slightly higher on Thursday as optimism for an upcoming rate cut outweighed concerns over escalating global trade tensions. IT and oil & gas stocks supported the Nifty 50,