Srivastava mentioned that he would look for opportunities like banking and metals, while PSUs took look oversold and may offer some opportunities. He highlighted that people are watching global headlines because there is an absence of local newsflow.

The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 22,542 level, a discount of nearly 141 points from the Nifty futures’ previous close.

The BSE Sensex stood at 73,917.17, down 695.26 points or 0.93 per cent. The NSE Nifty fell 227.50 points, or 1.01 per cent, to 22,317.55.

Indian equity markets are likely to open on a weaker note on Friday, February 28, as suggested by the GIFT Nifty, signaling a subdued start for both the BSE Sensex and NSE Nifty 50. This comes after a flat closing in the previous session,

Coal India, HDFC Bank, Shriram Finance, Axis Bank and Reliance gained, while IndusInd, Tech Mahindra, Titan, Wipro and M&M traded among major laggards. Aarti Drugs, Adani Green Energy, ACC, and ABB India stocks hit 52-week low.

Sensex and Nifty crashed nearly 1.50 per cent each on Friday (February 28). While Sensex lost 11 points to trade at 73551 around noon, Nifty was down more than 300 points to trade below 22300. The Nifty Modcap 100 and Smallap 100 crashed more than 3 per cent each.

India’s stock benchmarks, the Sensex and Nifty, opened sharply lower on Friday, falling by one per cent as investors reacted to US President Donald Trump’s new tariff threats and awaited key GDP data for the December quarter.