The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,661 level, a discount of nearly 75 points from the Nifty futures’ previous close.

Should a breakout above 24,775 materialise in Nifty50 index, the next resistance levels to watch will be 25,125 and 25,625, Nifty chart shows

Sensex fell 385 points to close at 81,749, while the Nifty declined 100 points to 24,668. However, midcap stocks outperformed, with the Midcap Index gaining 451 points to settle at 59,443.

The Sensex and Nifty began trading on Monday on a weaker note. Weak global indicators and worries regarding the upcoming WPI inflation data set to be revealed in the day weighed down the key benchmark indices.

Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Monday. While BSE Sensex was below 82,000, Nifty50 was below 24,750.

The domestic IT stocks weighed heavily on domestic benchmark indices, whereas a last-hour recovery in financial stocks saw the Nifty 50 and Sensex come slightly off lows after extending early losses on Monday.