The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 22,093 level, a discount of nearly 167 points from the Nifty futures’ previous close.

Sensex and Nifty indices dropped following weak global market trends, FII outflows, and U.S. tariff concerns. The BSE Sensex declined, with major stocks like Nestle India lagging, while others like State Bank of India gained.

The broader markets also declined, with the BSE Smallcap slipping 0.8 percent and the BSE Midcap shedding 1.2 percent.