Indian stock markets began Friday’s session on a weak note, snapping a three-day winning streak, as investors booked profits and reduced risk exposure ahead of the Union Budget. Caution prevailed despite the Economic Survey projecting strong medium-term growth prospects for the Indian economy.

At around 9:30 am, the S&P BSE Sensex declined 516.43 points to 82,049.94, while the NSE Nifty50 fell 192.75 points to 25,226.15. Metal and IT stocks led the losses, while broader markets saw sharper declines as midcap and smallcap stocks came under pressure.

Market sentiment remained cautious amid persistent foreign investor selling, a falling rupee and global uncertainties, including geopolitical tensions and rising crude oil prices. Experts noted that while near-term headwinds are weighing on markets, the Economic Survey’s growth outlook offers support over the medium term.

Foreign portfolio investors have continued to pare exposure, selling equities worth over Rs 43,600 crore so far in January, while domestic institutional investors provided partial support through net buying. Meanwhile, the rupee hovered near record lows against the US dollar, adding to concerns over inflation and input costs.

With volatility rising and sectoral indices largely in the red, investors are expected to remain cautious until there is greater clarity from the Union Budget and global developments.