Stock Market Today Highlights: The Indian stock markets closed lower as various factors led to widespread selling across different sectors. The Sensex dropped approximately 0.35% to finish close to 82,269, while the Nifty 50 decreased by 0.40% to around 25,320.
According to experts, the decline was influenced by profit-taking in anticipation of the Union Budget, a significant drop in commodities, and weak signals from global markets, which collectively led to a cautious investor sentiment.
Nifty 50 and Sensex began the day in the red on Friday, primarily driven by losses in metal stocks, as a depreciating rupee, ongoing foreign selling, and rising oil prices made investors wary ahead of the federal budget announcement.
Sensex tumbled 619.06 points to 81,947.31 in opening trade; Nifty 50 dropped 171.35 points to 25,247.55.
Investors are now looking forward to the budget scheduled for Sunday. The markets will function in a special trading session.
On Friday (January 30), silver prices on the Multi Commodity Exchange of India (MCX) plummeted significantly, triggering a 15% lower circuit due to a worldwide sell-off in commodities. The white metal, which had risen almost 9% to reach a record high of ₹4.20 lakh per kg on Thursday (January 29), closed at ₹3.99 lakh per kg.
On Thursday, the Indian stock market closed higher, marking its third consecutive day of gains, as the benchmark Nifty 50 surpassed the 25,400 level.
Globally, Asian markets experienced gains on Friday following US President Donald Trump’s announcement that he would reveal his choice for the next Federal Reserve chair today.
Among stocks to watch today, shares of Meesho, NTPC, Nestle, Bajaj Auto, Tata Investment, and Power Grid will be in focus.
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