Sensex falls over 290 points, Nifty50 closes near 25,320 mark
Stock markets took a dip on Friday as investors were cautious ahead of the Union Budget.
The Sensex closed down 296.59 points at 82,269.78, and the Nifty50 dropped 98.25 points to finish at 25,320.65—mostly because IT and metal stocks didn't do well.
Investors are on edge due to several economic factors
According to Vinod Nair from Geojit Investments, foreign investors have been selling off shares and the rupee has lost some ground, making things more unpredictable.
Add in global growth worries and rising US bond yields, and it's no surprise investors are treading carefully right now.
The upcoming budget is expected to offer some direction on these challenges.
M&M was the only gainer in the Nifty50 index
Mahindra & Mahindra stood out with a small gain of 1.38%.
Meanwhile, Tata Steel saw the biggest drop at 4.57%, with ICICI Bank and a few tech companies also losing ground.