Mumbai: The BSE Sensex declined 296.59 points to close at 82,269.78 on Friday. Intraday, it tanked 625.34 points to 81,941.03. The NSE Nifty declined 98.25 points to end at 25,320.65. The benchmark equity indices went down after a three-day rally, dragged by metal and IT stocks and caution ahead of the Budget presentation on February 1.
Laggards from the 30-Sensex firms, Power Grid, HCL Tech, Tech Mahindra, Infosys, Kotak Mahindra Bank, Tata Steel, and ICICI Bank. Gainers from the pack: Bharat Electronics, State Bank of India, ITC and Mahindra & Mahindra.
“As we near the Budget Day there are headwinds and tailwinds for the market. Geopolitical issues continue to plague global trade with continuous threats of tariff weaponisation by Trump. The spike in Brent crude to near USD 70 is a headwind for Indian macros in general and industries that use oil as inputs, in particular.
“However, these headwinds are likely to be countered by the positive message from the Economic Survey that projects GDP growth of 6.8 to 7.2 per cent growth in FY27,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, told PTI.
Vijayakumar sounded hopeful after Foreign Institutional Investors resorted to less selling.
The Economic Survey 2026 has projected India’s economy to grow by 6.8-7.2 per cent in the fiscal year 2026-27.
South Korea’s Kospi ended in Green, while Shanghai’s SSE Composite index, Hong Kong’s Hang Seng index and Japan’s Nikkei 225 index settled lower. The US stock markets settled mostly lower on Thursday. Brent crude, the global oil benchmark, fell 1.39 per cent to USD 69.73 per barrel.
Foreign institutional investors sold equities worth Rs 393.97 crore on Thursday after a day’s breather. Domestic Institutional Investors (DIIs) continued to pump in money and as they spent Rs 2,638.76 crore to buy equities.
On Thursday, the 30-share Sensex gained 221.69 points to close at 82,566.37. The broader Nifty index finished with a gain of 76.15 points to end at 25,418.90.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver, crypto assets and commodities like Copper, aluminium.)
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