Steep correction in the benchmark Nifty 50 index continued which now is closer to 23880 levels and analysts do not rule out Nifty testing the long-term moving average at the 200 DEMA level, around 23,

Get the latest Business News, Live Share & Stock Market Updates, Top News from India and across world. Read Top Business News and updates on financial, economic and banking news on CNBCTV18.

The Indian stock market benchmark indices, Senex and Nifty 50, are likely to open lower on Wednesday tracking weak global market cues.The trends on Gift Nifty also indicate a negative start for the Indian benchmark index.

Indian blue-chip indices, the Sensex and Nifty50, opened lower for the third straight session on Monday, as concerns over weak earnings and persistent foreign outflows continued to weigh on domestic equities.

Investors are closely watching the movements of Foreign Institutional Investors (FIIs) as global markets react to recent developments, including Donald Trump's victory in the US elections and China’s restrained approach to economic stimulus.

The Nifty 50 continued its downward trend for the fourth consecutive trading session, closing 1.15% lower at 23,863 points. Similarly, the Sensex ended the day in the red, shedding 1.01% to finish at 78,

Indian stock markets opened higher on Monday, driven by gains in Tata Motors and Asian Paints, but traded with caution ahead of key corporate earnings reports. Despite the initial surge, technical indicators suggest continued market volatility and consolidation in the near term.

At opening bell, the BSE Sensex was down 418.99 points, or 0.53 per cent, at 79,067; while the Nifty 50 was at 24,036, down 112.10 points, or 0.46 per cent. With Republican candidate Donald Trump emerging as the President-elect of the US,