Indices retreat after 3-day rise on mixed global cues, Budget caution
The benchmark equity indices Sensex and Nifty slipped on Friday, snapping a three-day rally, as weak global cues and caution ahead of the Union Budget on February 1 weighed on sentiment. Fresh foreign fund outflows added to the pressure. Investors also remained watchful of rupee movements, ongoing Q3 earnings and geopolitical developments. Reflecting the cautious mood, the Nifty closed below the 25,350 level, dragged down by losses in metal, IT and private banking stocks.
The benchmark equity indices Sensex and Nifty slipped on Friday, snapping a three-day rally, as weak global cues and caution ahead of the Union Budget on February 1 weighed on sentiment. Fresh foreign fund outflows added to the pressure. Investors also remained watchful of rupee movements, ongoing Q3 earnings and geopolitical developments. Reflecting the cautious mood, the Nifty closed below the 25,350 level, dragged down by losses in metal, IT and private banking stocks.
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