Indian equity benchmark indices, BSE Sensex and Nifty50, tanked in opening trade on Friday. While BSE Sensex was down oner 450 points, Nifty50 was below 23,200.

Asian equities also dropped in early trading, influenced by uncertainty in the US market. Investors are awaiting key Chinese economic data, including fourth-quarter growth figures

The S&P BSE Sensex was down 430.02 points to 76,612.80, while the NSE Nifty50 tumbled 121.05 points to 23,190.75 as of 9:22 AM.

Stock Market in India are likely to open on a cautious note today, following mixed global cues as investors focus on companies reporting December quarter results

The biggest Sensex gainers included Adani Ports, SBI, Bajaj Finserv, Airtel and Tata Motors while losers were HCL Tech, Nestle Infosys, HUL and ITC

The fall in IT stocks was a result of Infosys’ shares falling over 5.3% after the company reported its Q3 results yesterday. The drop, however, came as a surprise as the company raised its revenue forecast.

Reliance Industries Ltd., HDFC Bank Ltd., Maruti Suzuki Ltd., Kotak Mahindra Bank Ltd., Larsen & Toubro added to the Nifty 50 index.

The performance comes ahead of the Budget 2025 announcement, with Q3 earnings, foreign investors flow and global trends emerging as key triggers currently. On January 14, 2025, the market is open despite the public holiday in many states due to the celebration of Makar Sankranti 2025.

The stock market plunged into the red on Friday, January 17, as IT, private banks, and auto stocks fell. At 9:20am, the benchmark BSE Sensex was down by 451 points or 0.59%, reaching 76,591.82. The broader NSE Nifty was down by 140.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,325 level, a discount of nearly 52 points from the Nifty futures’ previous close.