The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 23,201 level, a discount of nearly 125 points from the Nifty futures’ previous close.

The Indian stock market crashed at the opening bell of Friday, April 4th, after Wall Street nosedived sharply and recorded a $2 trillion market rout, the worst since 2020.

Midcap and Smallcap indices underperformed the benchmarks, with the Nifty Midcap 100 and Nifty Smallcap 100 falling over 1 per cent each. Volatile SMIDs bore the brunt of the selling pressure