Stock market today, April 16 -- Domestic benchmark indices, Sensex and Nifty, opened in the red on Wednesday, pulling back after a strong two-day relief rally, as investors looked for clearer signals on global trade developments.

At around 9:19 am, the BSE Sensex was down by 128 points or 0.17%, trading at 76,606, while the Nifty50 slipped 51 points or 0.22%, to 23,278.

"Despite the massive gap up opening yesterday, momentum was found missing during the day, with the 100 DMA near 23390 appearing to put a lid on upswings. This sets up a pull back move today. However, with VIX having declined considerably, the possibility of renewed upswing and break of the 23390 remain high, if dips are held above 23080-22975. This retains 24000 as an op...