The trends on Gift Nifty indicate a weak start for the Indian benchmark index. The Gift Nifty was trading around 24,215 level, a discount of nearly 80 points from the Nifty futures’ previous close.

The next key event is the US election scheduled on. Owing to deep correction, the key support level for Sensex and Nifty 50 is around 78500 and 23800 respectively.

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session in the green. Nifty 50 closed at 24,213.30, while Sensex ended at 79,476.63. Overnight, Wall Street indices ended higher ahead of the US election 2024 outcome.

In overnight trade, Dow Jones Industrial Average climbed 427.28 points, or 1.02 per cent, at 42,221.88. The S&P 500 index also jumped 70.07 points, or 1.23 per cent, to 5,782.76.

Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a weak note Monday amid cautiousness in global peers ahead of US Presidential Elections.The trends on Gift Nifty also indicate a negative start for the Indian benchmark index.

The NSE Nifty 50 rose 217.95 to end at 24,213.3, while the BSE Sensex gained 694.39 points, closing at 79,476.63. Both benchmarks had fallen by about 0.6% during the session before a strong rally in the final hours of trading.

Tata Steel, JSW Steel, Hindalco, Bajaj Auto, and Axis Bank were among the top gainers on the Nifty index. Trent, Adani Ports, Asian Paints, ITC and Infosys were among the top losers.

The NSE Nifty 50 climbed 0.91% to 24,213.3, and BSE Sensex increased 0.88% to 79,476.63. Both indices initially declined 0.6% during trading but recovered in the final two hours of the session.