The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,028 level, a premium of nearly 50 points from the Nifty futures’ previous close.

Indian benchmark indices ended lower on Friday, reversing early gains as earnings slowdown concerns outweighed optimism about lower U.S. rates and declining oil prices. Pharma, real estate, and auto stocks led the decline.

A sustained selling by foreign investors, a falling rupee, weak December quarter results, Budget nervousness, China's DeepSeek, and Trump's tariff war is hurting the sentiment

Support for the benchmark Nifty-50 index is placed at 22786, while immediate resistance is seen at 23137 followed by 23347, said experts

BSE Sensex was trading 368.91 points or 0.49 per cent higher at 75,735.08. Nifty was trading at 22,923.60, down 94.45 points or 0.41 per cent. The gains were led by banking names.

On Monday, Nvidia suffered a loss of $589 billion, the largest in histore, driven by the rise of China's AI app DeepSeek on Apple's app store.

Indian stock market benchmarks, Sensex and Nifty 50, rebounded over one per cent in intraday trade on January 28, following two days of losses, driven by strong buying in banking and financial stocks.