The BSE Sensex fell 403 points, or 0.5%, to 82,163 in morning trade on Friday, erasing gains from the previous three sessions, as traders remained cautious ahead of this weekend’s Union Budget. Persistent foreign outflows further pressured market sentiment, along with higher oil prices, which fueled concerns over domestic inflation, as India is a net oil importer. Most sectors traded in the red, led by metals, followed by technology, auto, and banking stocks. The metal sector plunged 4.0%, pulling back from gains of 8.5% logged over the past three sessions, driven by higher metal prices amid geopolitical risks. Among individual stocks, Tata Steel fell 3.1%, JSW Steel dropped 2.3%, HCL Technologies slid 2.0%, Infosys declined 1.8%, and Tech Mahindra fell 1.4%. For the month, the index is heading for a 3.5% decline, which would mark its second consecutive monthly fall, amid persistent foreign outflows.
