Sensex Today | Stock Market Live: Nifty below 23,700, Sensex slips 1,300 pts; India VIX up 13%, all sectors in the red

Indian equity markets are expected to open on a gap-down note on Monday, tracking weak global cues and a sharp decline in GIFT Nifty.

GIFT Nifty is currently trading around 23,750 down -335 points, indicating a negative start for domestic indices.

The weakness comes amid renewed geopolitical concerns after failed US–Iran talks and rising crude oil prices, which are weighing on global sentiment and Asian markets.

In the previous session (10th April), benchmark indices ended strongly higher, recovering sharply from earlier losses. The Nifty 50 gained 275 points (1.16%) to close at 24,050.60, while the BSE Sensex surged 918 points to settle at 77,550.25, led by buying in auto, banking, and capital goods stocks.

From a technical perspective, the Nifty 50 had reclaimed the 24,000 mark, but the sharp fall in GIFT Nifty suggests the index may again slip below this crucial level at the open. Immediate support is seen near 23,650–23,600, while resistance is placed around 23,950–24,000.

The Bank Nifty saw a strong rebound in the previous session, but is likely to witness pressure again in early trade. The index is expected to face resistance near 55,800–56,000, while support is placed around 55,500–55,300.

Overall, the market setup suggests a weak to negative start, tracking global cues and a sharp fall in GIFT Nifty. Despite Friday’s strong recovery, sentiment has turned cautious again, and the market may witness profit booking and volatility, especially if Nifty sustains below the 24,000 mark.