Sensex down 400 pts; Nifty near 25,300; SMIDs slip; Metal index tanks 4%

Indian equity benchmark indices Sensex and Nifty opened lower on Friday, tracking weak global cues, as investors awaited the Union Budget 2026 scheduled to be presented on February 1, 2026. The stock markets will remain open on Sunday.

The BSE Sensex opened at 81,947.31, down 619.06 points, or 0.75 per cent, from its previous close, while the Nifty50 slipped 171.35 points, or 0.67 per cent, to open at 25,247.55.

On BSE, IndiGo, BEL and ITC were top gainers, while Tata Steel, Eternal and M&M were top drags.

Broader markets dropped in trade. Nifty SmallCap 100 index was down 1.31 per cent, while Nifty MidCap 100 index slipped 1.01 per cent.

Sectorally, Nifty Metak was the top loser, down over 3.5 per cent. On the other hand, Nifty Pharma, FMCG and healthcare indices were trading with marginal gains.

On Thursday, the Economic Survey 2026 projected GDP growth at 7.4 per cent for FY26 and 6.8-7.2 per cent for FY27, supported by easing inflation, resilient domestic demand and continued fiscal discipline.

Q3 results today

Power Grid, SAIL, Welspun Corp, Reliance Power, Subros, RattanIndia Power, Seamec, and PSP Projects among others will announce their quarterly results today.