Indian benchmark indices Nifty 50 and Sensex ended the previous trade session in the red. Nifty 50 closed at 23,603.35, while Sensex ended at 78,058.16. Overnight, Wall Street indices were in the green.

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.

Indian benchmark equity indices reduced their initial gains and were in negative territory on Thursday, influenced by declines in major stocks such as HDFC Bank, ITC, and M&M. This comes as investors awaited the RBI's monetary policy decision later in the week amidst ongoing trade war concerns.