Sensex slips 296 points, Nifty settles below 25,350 mark
The stock market took a breather on Friday, with both Sensex and Nifty ending lower after a solid three-day run.
Metal and IT stocks saw the biggest hit, just as everyone's eyeing the upcoming Union Budget on February 1.
Foreign investors sold shares worth ₹394 crore
Sensex closed at 82,269 (down 296 points), while Nifty slipped below 25,350.
Midcap and smallcap stocks also dropped over 1% in the opening session.
Foreign investors sold shares worth nearly ₹394 crore, but domestic investors stepped in with bigger buys.
Metal and IT stocks were the biggest losers
Metal stocks tumbled over 4% as global prices weakened—Tata Steel and Hindalco were among the hardest hit.
IT companies like HCL Tech and Infosys also slid as US bond yields climbed.
On top of that, the rupee lost value this month and oil prices are rising, adding more pressure to the market.
Some gainers on Friday
Despite the dip, some familiar names like ITC, Hindustan Unilever, Asian Paints, M&M, and SBI managed to stay in positive territory.