Stock markets snap 3-day rally dragged by metal, IT stocks

Benchmark equity indices Sensex and Nifty ended little connected Friday (January 30, 2026), snapping a three-day rally, dragged by metal, IT stocks and caution up of the Budget presumption connected February 1.

Fresh overseas money outflows and weakness successful the rupee besides added to the bearish inclination successful the equity markets.

The 30-share BSE Sensex declined 296.59 points oregon 0.36% to settee astatine 82,269.78. During the day, it tumbled 625.34 points oregon 0.75% to 81,941.03.

The 50-share NSE Nifty dropped 98.25 points oregon 0.39% to extremity astatine 25,320.65.

From the Sensex firms, Tata Steel tanked the astir by 4.57%. ICICI Bank, Power Grid, HCL Tech, Tech Mahindra, Infosys and Kotak Mahindra Bank were besides among the laggards.

Mahindra & Mahindra, State Bank of India, ITC and Bharat Electronics were among the gainers.

Foreign organization investors offloaded equities worthy ₹393.97 crore connected Thursday (January 29, 2026) aft a day's breather, according to speech data. Domestic Institutional Investors (DIIs) however, bought stocks worthy ₹2,638.76 crore.

"Indian equity markets remained volatile up of the Union Budget, with benchmark indices dragged little by weakness successful IT and metallic stocks. The IT assemblage lagged owed to planetary maturation concerns and higher U.S. enslaved yields, portion golden and metallic declined amid a stronger dollar.

"Persistent FII selling and continued rupee depreciation kept marketplace sentiment cautious," Vinod Nair, caput of research, Geojit Investments Limited, said.

With geopolitical risks and planetary tariff pressures rising, the Union Budget is keenly awaited for cues connected maturation enactment and fiscal discipline, helium added.

India's system is projected to turn by 6.8-7.2% successful the fiscal twelvemonth starting April, the government's pre-Budget Economic Survey said connected Thursday (January 29, 2026), reaffirming the country's presumption arsenic the world's fastest-growing large system contempt commercialized risks and planetary volatility clouding the outlook.

In Asian markets, South Korea's Kospi settled higher, portion Japan's Nikkei 225 index, Shanghai's SSE Composite scale and Hong Kong's Hang Seng scale ended lower.

Markets successful Europe were quoting higher.

U.S. markets ended mostly little connected Thursday (January 29, 2026).

"Indian equity markets traded with a anemic and cautious bias, retreating from caller highs amid assertive selling successful metallic and IT stocks. Mixed cues from overseas markets, on with persistent weakness successful the rupee, capped intra-day betterment attempts.

"Overall, sentiment remained cautious, with marketplace participants balancing pre-Budget positioning against outer headwinds," Ponmudi R, CEO of Enrich Money, an online trading and wealthiness tech firm, said.

Brent crude, the planetary lipid benchmark, dropped 0.88% to $70.09 per barrel.

On Thursday (January 29, 2026), the Sensex climbed 221.69 points oregon 0.27% to settee astatine 82,566.37. The Nifty edged higher by 76.15 points oregon 0.30% to extremity astatine 25,418.90.