Budget Watch Keeps Markets Rangebound; Stock-Specific Action Likely

The Nifty 50 index was down by 162.40 points to 25,256.50 while the Sensex was down by 488.49 points to 82,077.88.

Indian equity benchmarks opened lower on Friday, with the Nifty50 slipping below 25,300 and the Sensex down over 500 points, as investors turned cautious ahead of the Union Budget amid mixed global cues. Analysts expect stock-specific action in a largely rangebound market, with headwinds such as geopolitical tensions, tariff threats, and rising Brent crude prices offset by supportive domestic fundamentals. Analysts noted that strong GDP growth projections of 6.8-7.2% for FY27, easing inflation, potential 15-17% earnings growth, moderating FPI outflows, and export diversification especially with the upcoming India-EU trade deal provide medium- to long-term resilience. Meanwhile, weak sentiment in US markets due to concerns over corporate earnings and heavy AI investments, along with cautious global tech stocks, added to early pressure, even as Asian markets edged slightly higher.