Sensex closes 296 points lower at 82,269, Nifty skids 98 points to 25,320; stock markets dragged lower by metal, IT stocks

Market Performance - Benchmark equity indices Sensex and Nifty ended lower, with Sensex declining by 296.59 points or 0.36% to settle at 82,269.78, and Nifty dropping by 98.25 points or 0.39% to end at 25,320.65, snapping a three-day rally [1][2] - Tata Steel experienced the largest decline among Sensex firms, falling by 4.57%, while other laggards included ICICI Bank, Power Grid, HCL Tech, Tech Mahindra, Infosys, and Kotak Mahindra Bank [2] Foreign Investment Trends - Foreign institutional investors sold equities worth ₹393.97 crore, while domestic institutional investors bought stocks worth ₹2,638.76 crore, indicating a mixed sentiment in the market [3] - Persistent selling by foreign institutional investors and a depreciating rupee contributed to cautious market sentiment [4] Economic Outlook - India's economy is projected to grow by 6.8-7.2% in the upcoming fiscal year, reaffirming its status as the fastest-growing major economy despite global volatility and trade risks [5] - The Union Budget is highly anticipated for insights on growth support and fiscal discipline amid rising geopolitical risks and global tariff pressures [4] Global Market Influence - Indian equity markets showed volatility influenced by weakness in IT and metal stocks, with global growth concerns and higher US bond yields impacting the IT sector [3] - Mixed cues from overseas markets, along with ongoing rupee weakness, limited recovery attempts in the Indian markets [6]