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 benchmark indices Nifty 50 and Sensex ended the previous trade session over 1% lower. Nifty 50 closed at 23,883.45, while Sensex ended at 78,675.18. Overnight, Wall Street indices Dow Jones and S&P 500 ended lower,

Bank stocks HDFC Bank and State Bank of India contributed most to the Sensex fall. NTPC, Tata Motors and Bajaj Finance also contributed to the decline.

Indian benchmark indices opened higher on Tuesday but quickly reversed gains as bank and auto stocks came under pressure, following three straight sessions of losses due to weak earnings and persistent foreign outflows.

Benchmark stock market indices dropped in the afternoon session, with the Sensex experiencing a notable decline due to weak earnings reports and foreign outflows. The S&P BSE Sensex lost 659.08 points to 78,

Indian benchmarks opened higher, led by banking and IT stocks, after three sessions of declines due to weak earnings.