Indian stock markets started Friday’s session on a weak note as investors turned cautious ahead of key budget announcements. Pressure intensified due to a falling rupee and persistent global uncertainties, triggering sharp declines in metal and IT stocks during early trade.

The S&P BSE Sensex dropped 491.22 points to 82,075.15, while the NSE Nifty50 slid 163.95 points to 25,254.95 as of 9:25 am. Market participants remained selective, with experts advising discipline amid volatility.

Hitesh Tailor, Research Analyst at Choice Equity Broking Private Limited, highlighted that traders should focus on fundamentally strong stocks during market corrections. He added that fresh long positions should be considered only after a sustained breakout above the 25,700 level on the Nifty.

On the institutional front, foreign institutional investors (FIIs) remained net sellers, offloading equities worth Rs 393 crore on January 29, while domestic institutional investors (DIIs) provided support by purchasing shares worth Rs 2,638 crore.