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Markets Dip Ahead of Budget, Rupee Hits Record Low
30 Jan
Summary
- Indian stock markets closed lower on Friday, ending a three-day rally.
- The rupee hit a record low of 92.02 against the US dollar.
- Caution prevailed ahead of the Union Budget presentation on February 1.
On January 30, 2026, Indian equity indices, Sensex and Nifty, concluded the trading day with losses, halting a three-day rally. The market downturn was primarily influenced by a decline in metal and IT stocks. Investors exhibited caution as they awaited the Union Budget presentation scheduled for February 1, 2026.
Compounding the negative market sentiment were significant foreign fund outflows and a weakening Indian rupee. The rupee reached an all-time low of 92.02 against the US dollar before settling slightly higher. This pressure on the currency, coupled with geopolitical uncertainties, contributed to the bearish trend observed in the equity markets throughout the day.
