The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,520 level, a discount of nearly 40 points from the Nifty futures’ previous close.

The Indian market closed higher on Wednesday, marking its fourth consecutive session of gains, driven by a rally in banking stocks amid rising optimism that the Reserve Bank of India (RBI) may announce a cash reserve ratio (CRR) cut later this week.

Investors in the domestic market are likely to remain cautious, while engaging in stock specific action, ahead of the RBI MPC meeting's announcement tomorrow