The trends on Gift Nifty indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 23,715 level, a premium of nearly 25 points from the Nifty futures’ previous close.

At 10:27 AM, the Sensex was down 221 points or 0.3 percent at 77,837, and the Nifty was down 77 points or 0.3 percent at 23,526. About 1,162 shares advanced, 1,983 shares declined, and 129 shares remained unchanged.

The Nifty 50 has dropped 4.4 per cent since the last policy meeting in December, impacted by weak corporate earnings and a slowing economy.