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Sensex, Nifty retreat after early gains; here's what happened

Business

Sensex and Nifty started Friday strong, but those early gains didn't last.
After opening higher—Sensex up by over 460 points and Nifty crossing 26,000—both indices slipped as investors decided to cash in profits.
Add to that some heavy selling by foreign investors and a falling rupee, and the market mood quickly turned cautious.

Why did the markets dip?

Three things were at play: Investors booked profits after a recent rally, foreign funds kept pulling money out for the 11th straight day (selling stocks worth ₹2,020 crore), and the rupee hit a record low of 90.46 against the US dollar.
As Anand James from Geojit Financial Services put it, Nifty also faced resistance near 25,900—so for now, markets seem to be treading carefully.