Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Wednesday. While BSE Sensex was below 75,800, Nifty50 was near 22,900.

In the past five days, the BSE bellwether gauge has slumped 2,290.21 points or 2.91 per cent, while the Nifty tanked 667.45 points or 2.81 per cent.

As per Nifty charts, a break below 22,970 could trigger another steep correction, exacerbating the selling momentum in India stock markets