Benchmark equity indices declined in early trading on Friday due to profit-taking after a record rally the previous day and fresh foreign fund outflows. The 30-share BSE Sensex dropped 206.18 points to 76,604.72, while the NSE Nifty fell 61.5 points to 23,337.40. Among the 30 Sensex companies, Tech Mahindra, JSW Steel, HCL Technologies, NTPC, Bajaj Finserv, Kotak Mahindra Bank, Wipro, and Tata Consultancy Services were the major laggards. Titan, Asian Paints, Mahindra & Mahindra, and Hindustan Unilever were among the biggest gainers. In Asian markets, Seoul traded higher, while Tokyo, Shanghai, and Hong Kong traded lower. US markets closed on a mixed note on Thursday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,033 crore on Thursday according to exchange data. “In the near-term, the market is likely to be range-bound since there are no major triggers till the budget,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Global oil benchmark Brent crude declined by 0.41 percent to USD 82.41 a barrel. The BSE benchmark jumped 538.89 points, or 0.70 percent, to a lifetime peak of 77,145.46 on Thursday. It later ended at a fresh record high of 76,810.90, up 204.33 points, or 0.27 percent. The Nifty rallied 75.95 points, or 0.33 percent, to settle at a new closing high of 23,398.90. During the day, the benchmark climbed 158.1 points, or 0.67 percent, to its record peak of 23,481.05. “Investors anticipate consolidation amid uncertainties, awaiting India’s budget announcement and the US Federal Reserve’s next rate cut,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.