Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:

The fall in IT stocks was a result of Infosys’ shares falling over 5.3% after the company reported its Q3 results yesterday. The drop, however, came as a surprise as the company raised its revenue forecast.

The Indian market ended lower, breaking a three-day winning streak, with the Nifty closing around 23,200. This decline was driven by selling in IT and banking stocks, despite strong quarterly results from sector heavyweights Infosys and Axis Bank for the December quarter.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,325 level, a discount of nearly 52 points from the Nifty futures’ previous close.

The Sensex slipped 423.49 points, or 0.55%, to close at 76,619.33. Likewise, Nifty 50 declined 108.60 points, or 0.47%, to end at 23.203.20.

Indian equity benchmarks, BSE Sensex and Nifty50, saw a sharp decline in opening trade on Friday. BSE Sensex fell over 450 points, while Nifty50 dropped below 23,200. At 10 am, the Sensex dropped by 363.

Nifty futures closed with a 0.61% gain at 23,406 on Thursday. Options data suggests a broader trading range between 22,800 to 23,700, with an immediate range between 23,100 to 23,500. Experts recommended stocks for short-term trading,