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 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.

Markets in India are expected to open higher following a strong showing on Wall Street after a lower-than-expected core inflation reading there

Infosys, Axis Bank, Shriram Finance, Kotak Mahindra Bank, M&M were among major losers on the Nifty, while gainers included BPCL, Reliance Industries, Bharat Electronics, Nestle India and Hindalco Industries.

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session in the green. Nifty 50 closed at 23,311.80, while Sensex ended at 77,042.82. Overnight, Wall Street indices ended lower. Asian stocks were also in the red in early trade today.

The Nifty 50 ended the session with a drop of 0.47% at 23,203 while the Sensex closed at 76,624, marking a 0.54% fall from the previous close. The Nifty Midcap 100 index rose 0.23% to 54,607, while the Nifty Smallcap 100 index concluded the day with a gain of 0.

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.

In another rangebound session, the Indian market closed on a positive note, extending its winning streak for the third consecutive day on Thursday, driven by positive cues such as the Gaza ceasefire deal,

The BSE Sensex rose 318.74 points, or 0.42%, to 77,042.82. Likewise, Nifty 50 gained 98.60 points, or 0.42%, to 23,311.80.