What was the Nifty's performance on Friday before the Union Budget?

The Nifty 50 index declined by 98 points on Friday, closing at 25,320, as markets showed caution ahead of the Union Budget presentation.

What caused the significant drop in silver prices recently?

Silver prices saw a record single-day fall of 37% on January 30, influenced by a stronger US dollar and evolving economic factors.

What are the key technical levels for the Nifty post-Budget?

Immediate support for the Nifty is seen at 25,200, with a sustained move above 25,450-25,500 potentially signaling further upside.

Home / Business and Economy / Budget Buzz: Market Cautious as Indices Dip Ahead of Sunday Session

Budget Buzz: Market Cautious as Indices Dip Ahead of Sunday Session

31 Jan

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Summary

Nifty declined 98 points on Friday, ending at 25,320.
Silver prices saw a record single-day fall of 37% on January 30.
Markets remain cautious ahead of the Union Budget, presented February 1.

Budget Buzz: Market Cautious as Indices Dip Ahead of Sunday Session

Indian equity markets concluded Friday's trading session with a cautious tone, as the Nifty 50 index fell by 98 points to settle at 25,320. This decline occurred amidst investor apprehension leading up to the Union Budget, scheduled for presentation on Sunday, February 1. Many frontline indices are currently trading below their recent highs, reflecting the prevailing market mood.

Globally, commodity markets witnessed extreme volatility. Notably, spot silver prices experienced a record single-day decline of 37% on January 30. Gold prices also saw a significant drop of up to 12%, influenced by a stronger US dollar and evolving perceptions of Federal Reserve policy. This broad market nervousness suggests a period of consolidation as participants await the Budget's fiscal and economic outlook.

Analysts suggest the Nifty is consolidating near a critical resistance zone and is poised for a decisive move post-Budget. Immediate support for the index is identified at 25,200, while a sustained rise above 25,450-25,500 could signal further upside. Key data points for the upcoming week include auto sales figures, January GST collections, and metal price movements.