The trends on Gift Nifty also indicate a gap-up start for the Indian benchmark index. The Gift Nifty was trading around 23,195 level, a premium of nearly 87 points from the Nifty futures’ previous close.

The benchmark indices ended the day sharply lower, with the Nifty slipping below the 23,000 mark and the Sensex dropping below 76,000. The Sensex closed at 75,939, down 200 points, while the Nifty shed 102 points to end at 22,

Foreign outflows have surged, exceeding $10 billion so far this year, with no signs of easing. Though domestic inflows have provided some support, they have been insufficient to counter the broad-based decline in share prices.