On January 17, Indian benchmark equity indices experienced a decline, with the Sensex falling 423 points to close at 76,619 and the Nifty dropping 109 points to finish at 23,203. This downturn marked the end of a three-day gaining streak for the Nifty, which had previously reached a high of 23,345.20. The market's decline was attributed to losses in the information technology sector, with notable declines from major stocks such as Infosys and Axis Bank. The Nifty IT index recorded its largest weekly drop in nearly a year, falling 6% over the week. Overall, the market has seen a decline of over 3% over the past two weeks, raising concerns about upcoming earnings reports. The market opened negatively on January 17, tracking cues from GIFT Nifty trading around 23,309.5, and continued to struggle throughout the trading session.