The Indian equity benchmarks are set to stage a gap down opening on Monday, January 19, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad dropped 159 points to 25,593 amid weak cues from Asian markets.
The Indian equity benchmarks snapped their two-day losing streak on Friday, January 16, powered by gains in information technology (IT) shares after Infosys reported better than anticipated December quarter earnings post market hours on Wednesday.
The SENSEX rose as much as 752 points and NIFTY50 index touched an intraday high of 25,873. But markets gave up gains in noon deals on account of profit taking ahead of key earnings announcement by HDFC Bank and ICICI Bank on Saturday.
The SENSEX ended 188 points higher at 83,570 and NIFTY50 index advanced 29 points to close at 25,694.