Synopsis : Indian equity markets saw sharp profit-taking as investors turned cautious ahead of the Union Budget, dragging Sensex and Nifty lower from recent highs. Weak global cues and selling in metal stocks added to the pressure on Friday’s session.
Indian stock markets witnessed a sharp bout of profit-booking on Friday, with benchmark indices retreating after recent gains as investors adopted a defensive stance ahead of the Union Budget scheduled this weekend. The cautious mood was compounded by weak global cues, prompting traders to trim positions across sectors.
The Sensex fell over 400 points, while the Nifty50 slipped below the 25,300 mark, signaling heightened nervousness after a volatile week. Heavyweights in the metal space led the decline, with Tata Steel and Eternal sliding nearly 2% each, weighing on the broader indices.
The sell-off came a day after markets had closed on a positive note. On Thursday, the Sensex had risen 222 points (0.27%) to close at 82,566.37, while the Nifty gained 76 points (0.3%) to end at 25,418.90, as investors balanced trade optimism with pre-Budget caution. However, the upbeat sentiment proved short-lived as participants moved to lock in gains.
Global markets offered little support. Asian indices traded mostly lower, with sharp losses seen in Hong Kong and China, while US futures also remained under pressure. The weak overseas trend reinforced the risk-off sentiment on Dalal Street.
Market participants said volatility is likely to remain elevated until the Budget announcements bring clarity on fiscal priorities, taxation, and growth measures. Until then, investors are expected to stay selective, focusing on quality stocks while keeping an eye on global developments and policy cues.
Disclaimer : This article is for informational purposes only and does not constitute financial or investment advice. Stock market investments are subject to market risks. Readers should consult a qualified financial advisor before making any investment decisions.
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