Mumbai: Equity benchmark indices Sensex and Nifty ended lower on Friday, January 30, snapping a three-day rally, due to heavy selling pressure in metal, IT and commodity stocks as investors booked profits at higher levels ahead of the Budget 2026-27.

“Indian equity markets remained volatile ahead of the Union Budget, with benchmark indices dragged lower by weakness in IT and metal stocks. The IT sector lagged due to global growth concerns and higher US bond yields, while gold and silver declined amid a stronger dollar.

Among the Sensex firms, Tata Steel suffered the most, tanking by 4.57 per cent. ICICI Bank, Power Grid, HCL Tech, Tech Mahindra, Infosys and Kotak Mahindra Bank were also among the laggards.

“Indian equity markets traded with a weak and cautious bias, retreating from recent highs amid aggressive selling in metal and IT stocks. Mixed cues from overseas markets, along with persistent weakness in the rupee, capped intra-day recovery attempts.

India’s economy is projected to grow by 6.8-7.2 per cent in the fiscal year starting April, the government’s pre-Budget Economic Survey said on Thursday, reaffirming the country’s status as the world’s fastest-growing major economy despite trade risks and global volatility clouding the outlook.