Markets Snap 3-Day Rally: Sensex Dips 300 Pts, Nifty Below 25,350 Ahead of Budget

• Indian benchmark indices Sensex and Nifty fell sharply on Friday, ending a three-day rally, influenced by selling in IT and metal stocks.
• Key factors contributing to the decline include profit booking in metal shares, renewed foreign institutional investor (FII) selling, and rising crude oil prices.
• Market caution ahead of the Union Budget presentation on February 1, weak global cues, and a rise in India VIX also impacted investor sentiment.
• Hindalco Industries, Tata Steel, and Coal India were major laggards, while Apollo Hospitals Enterprise and Tata Consumer Products saw gains.
• Fears of a more hawkish US Federal Reserve chair and a sharp sell-off in Nasdaq further pressured IT stocks and gold prices.

Why It Matters: Indian markets declined ahead of the Union Budget, driven by FII selling, rising crude, and global uncertainties.