The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 22,370 level, a premium of nearly 90 points from the Nifty futures’ previous close.

Currently, Nifty 50's price-to-earnings ratio on a trailing 12-month basis is at 19.7 times, down from the 40.3 times seen in March 2021, according to NSE data.

The stock market went into the red despite early trade showing positive signs. Mid and small cap IT, telecom, and financial services stocks, along with media stocks fell the most. At 10:50 am IST, the benchmark BSE Sensex fell by 208.

Indian stock market benchmarks, the Sensex and the Nifty 50, ended with losses on Monday, March 3, amid persistent concerns over a potential major trade war, heavy foreign capital outflows, and macroeconomic jitters.

The Indian stock market began the first trading week of March on a positive note. Around 9:36 AM, the BSE Sensex climbed close to 100 points and traded near 73,300, while the NSE Nifty50 inched up 35 points to stand above 22,