BSE Metal

Indian equity indices closed flat as midday profit booking trimmed early gains., GIFT Nifty traded marginally higher, indicating a muted start for the day, Gold and silver advanced, building on strong annual performances

* Indian equity indices closed flat as midday profit booking trimmed early gains.
* GIFT Nifty traded marginally higher, indicating a muted start for the day
* Gold and silver advanced, building on strong annual performances

Indian equity indices closed flat on January 2 after early gains, with Sensex down 32 points and Nifty up 17 points. GIFT Nifty traded slightly higher, Asian markets rose, US markets were closed, and gold and silver advanced as 2026 trading began.

shorts/business/first-tick-top-global-cues-to-watch-in-today-s-trade-71

The Indian equity indices are likely to see a flat to positive start on January 2, with cues coming from GIFT Nifty, which was trading marginally higher at around 26,310.50.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

The Indian equity indices started 2026 on a positive note, extending the previous session's gains amid buying across the sectors barring FMCG, pharma. However, midday profit booking trimmed much of the early gains to close on a flat note.

At close, the Sensex was down 32 points or 0.04 percent at 85,188.60, and the Nifty was up 16.95 points or 0.06 percent at 26,146.55. The BSE midcap index rose 0.3 percent, while smallcap index ended flat.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Rises)

The GIFT Nifty is trading marginally higher at around 26,310.50, indicating a muted start for the day.

Asian Equities (Up)

Asian markets were trading firm in the early trade, while several markets remained shut including Japan.



US Equities (Shut)

US stocks markets closed on Thursday for New Year's Day.

Dollar Index (Down)

The U.S. dollar made a feeble start to 2026 on Friday after struggling against most currencies last year, while the yen steadied near 10-month lows as traders awaited economic data this month to gauge the path of interest rates.



Asian Currencies (Up)

Asian currencies were trading mostly higher in the early Friday trade, while on month-on-month basis with China Renminbi leading the gainers, followed by South Indian Won, China Renminbi, Malaysian Ringgit, Thai Baht gained more than 1 percent each.



Crude (Flat)

Oil steadied on the first trading day of 2026 after its biggest annual drop since 2020, as traders weighed an upcoming OPEC+ meeting and geopolitical concerns.



Gold (Gains)

Gold and silver advanced as trading in 2026 kicked off, building on their best annual performances since 1979. Bullion rose toward $4,350 an ounce, as silver gained more than 1%.



Fund Flow Action

Foreign Institutional Investors (FIIs) sold equities worth Rs 3268 crore on January 1, while Domestic Institutional Investors (DIIs) bought equities of Rs 1525 crore, on same day.



Hope you're all set for today's trade. We wish you a profitable day ahead.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Tick: Top global cues to watch in today’s trade

Sensex Today | Stock Market LIVE Updates: Oil steadied on the first trading day of 2026 after its biggest annual drop since 2020, as traders weighed an upcoming OPEC+ meeting and geopolitical concerns. Gold and silver advanced as trading in 2026 kicked off, building on their best annual performances since 1979.

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Stock Market LIVE Updates: GIFT Nifty indicates a flat start; Asian markets gain

Live Blog

Sensex Today | Stock Market LIVE Updates: Oil steadied on the first trading day of 2026 after its biggest annual drop since 2020, as traders weighed an upcoming OPEC+ meeting and geopolitical concerns. Gold and silver advanced as trading in 2026 kicked off, building on their best annual performances since 1979. 

A potential India-US trade deal in 2026 could be a healthy sign to enhance market access, strengthen supply chain benefitting the sectors specially electronics, automobiles, and pharmaceuticals, Mohit Bhatia said.

shorts/business/daily-voice-this-ceo-sees-portfolio-opportunities-in-financial-services-automobiles-and-healthcare-for-2026

According to Mohit Bhatia, the CEO at Bank of India Mutual Fund, financial services, automobiles, and healthcare sectors look relatively a potential opportunity for 2026 portfolio.

"Financial services sector expects the credit expansion and interest rate cycles could support growth," he said, adding automobiles sector sentiment is turning increasingly positive, supported by expectations of lower interest rates, higher disposable income from tax savings, and upcoming 8th pay Commission, and the recent GST Cut.

As far as the Union Budget expectations are concerned, the market expects policy support to continue, with measures to boost economy and earnings growth, capex primarily from government side which could be focused towards infrastructure spending, he said in an interview to Moneycontrol.

Do you strongly believe that the worst is over for the equity market, and that both the benchmark indices and the broader markets are set to deliver double-digit gains in 2026?

Looking back, we realise that some of the key pressure points are easing. Some of the key growth enablers like increased capacity, capex revival, and GST rate improvements are definitely helping along with consumer-led demand that is giving the market a breather. Government and private investments are kicking in, supporting growth along with GST rate rationalization and compliance ease helping the businesses.

Moving ahead, high-frequency indicators continue to suggest resilient demand, which should support earnings momentum across sectors. The macroeconomic setup of India is expected to aid the stabilisation of the INR following its recent depreciation, largely driven by a temporary demand-supply mismatch for USD in the onshore market.

Global factors, however, remain critical. Any delay in the signing of the USA free trade deal, or the emergence of broader geopolitical challenges, could weigh on investor sentiment and market performance. Additionally, volatility in crude oil prices and global interest rate trajectories will need close monitoring, as they directly impact inflation expectations and liquidity conditions.

What are the three key factors likely to impact equity markets in 2026?

Sustainability of Earnings Growth: Corporate earnings are expected to improve, driven by higher government spending, stable GST collections, and personal income tax relief.

US-India Trade Deal: A resolution on trade issues could attract foreign investors and support exports.

GoI Capex: Focus on infrastructure and private sector investment could drive growth.

Is large-scale FPI inflow likely to occur only after the US trade deal in 2026?

While a US trade deal could boost investor confidence, it's uncertain if large-scale FPI inflow will occur only after the deal. A potential India-US trade deal in 2026 could be a healthy sign to enhance market access, strengthen supply chain benefitting the sectors specially electronics, automobiles, and pharmaceuticals.

Do you think India is a very lucrative market for NBFCs?

India's growing economy and increasing financial inclusion make it an attractive market for NBFCs, but specific opportunities and challenges depend on various factors. India's credit penetration is indeed low, especially compared to other emerging markets. With a huge population and growing middle class, there's massive potential for credit growth. From the overall segment opportunity, diversified NBFCs including HFCs continued to witness steady loan growth led by underlying demand from retail segment.

Do you expect more measures from the government in the Union Budget 2026 to boost economy and earnings growth?

The year 2025 started with significant tax relief, raising the limit to Rs 12 lakh with recalibrating the slab rates in the new regime. Also, the mid-year review on GST rates boosted the sentiments and much needed support to the consumption led demand and announcement of FDI of 100% in the Insurance sector.

The market expects policy support to continue, with measures to boost economy and earnings growth, capex primarily from government side which could be focused towards infrastructure spending. Measures around reducing import dependence, possibly via higher customs duties and targeted incentives for local manufacturing could help strengthen the domestic ecosystem.

Do you foresee a continuation of the RBI’s rate-cut cycle in 2026, or will the central bank opt for a prolonged pause?

The Reserve Bank of India closed out 2025 with a policy statement that is both strategically calibrated and firmly anchored in macroeconomic realities. Against the backdrop of historic disinflation and resilient economic momentum, the Monetary Policy Committee (MPC) delivered a 25bps rate cut, lowering the repo rate to 5.25%, while maintaining its neutral stance.

The RBI’s soft-but-measured tone creates an environment in which fixed-income remains a compelling tactical allocation even as equities benefit from strong macro undercurrents. With one more rate cut still on the table—and liquidity guidance turning explicitly supportive—the fixed income outlook enters 2026 on exceptionally firm footing. The RBI may continue its rate-cut cycle in 2026, depending on inflation trends and economic growth.

What is your contrarian investment bet for 2026?

Indian IT sector has remained muted relative to global peers in the year 2025 in view of the apparent lag on AI related initiatives &amp; earnings guidance.

Given the strong talent pool, healthy balance sheet, global client reach coupled with structural digital initiatives from the Government of India, the Indian industry / sector may see potential winners in the medium to long term.

Which three sectors are on your radar for building a 2026 portfolio?

Overall, while near-term uncertainties persist, the medium-term outlook remains supportive, underpinned by domestic demand resilience, currency stabilisation, and robust earnings growth. A balanced approach favouring small-caps for growth potential while maintaining exposure to large-caps for stability could help investors navigate this evolving landscape. From the sectoral exposure perspective, some of the sectors which looks relatively a potential opportunity:

Financial Services: Financial Services as a sector has shown improvement in earnings and also with around 5 industries which this sector encompasses have shown relatively better resilience with high growth businesses viz. capital markets, fintech and general insurance with a mature business mix of Bank as well as Life Insurance companies. The sector expects the credit expansion and interest rate cycles could support growth.

Automobiles: Automobile companies reported a good set of numbers in Q2FY26, supported by the GST cut, strong festive demand, continued premiumization, and healthy growth in exports. Premiumization trend continued in Q2FY26, driving both volume growth and better realization across segments. Overall sector sentiment is turning increasingly positive, supported by expectations of lower interest rates, higher disposable income from tax savings, and upcoming 8th pay Commission, and the recent GST Cut.

Healthcare: This sector showcases stable demand and improving economic activity could benefit the sector. Within the sector, Domestic business is expected to maintain high single digit to double digit growth momentum with US generic launch pipeline remains thin. Hospital sector growth is likely to mirror bed capacity addition and price increase going forward.

How do you assess the outlook for banking and financial services funds in light of recent economic indicators and regulatory changes?

We are at a very different point in the financial cycle. Indian bank balance sheets are the cleanest in decades—NPAs are at cycle lows, capital adequacy is strong, and ROEs are structurally higher. This creates operating leverage as credit growth sustains in the low-to-mid teens. Also, the valuations are comfortable from entry point of view. Despite strong fundamentals, BFSI is trading at a discount to the broader market on P/B, especially banks.

We believe, this combination of earnings visibility plus reasonable valuations is rare. Finally, structural financialisation is a long runway theme—MF AUM, insurance penetration, demat accounts and digital payments are all compounding faster than GDP.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Daily Voice: This CEO sees portfolio opportunities in financial services, automobiles, and healthcare for 2026

According to Mohit Bhatia, the CEO at Bank of India Mutual Fund, financial services, automobiles, and healthcare sectors look relatively a potential opportunity for 2026 portfolio.

&quot;Financial services sector expects the credit expansion and interest rate cycles could support growth,&quot; he said, adding automobiles sector sentiment is turning increasingly positive, supported by expectations of lower interest rates, higher disposable income from tax savings, and upcoming 8th pay Commission, and the recent GST Cut.

As far as the Union Budget expectations are concerned, the market expects policy support to continue, with measures to boost economy and earnings growth, capex primarily from government side which could be focused towards infrastructure spending, he said in an interview to Moneycontrol.

Do you strongly believe that the worst is over for the equity market, and that both the benchmark indices and the broader markets are set to deliver double-digit gains in 2026?

Looking back, we realise that some of the key pressure points are easing. Some of the key growth enablers like increased capacity, capex revival, and GST rate improvements are definitely helping along with consumer-led demand that is giving the market a breather. Government and private investments are kicking in, supporting growth along with GST rate rationalization and compliance ease helping the businesses.

Moving ahead, high-frequency indicators continue to suggest resilient demand, which should support earnings momentum across sectors. The macroeconomic setup of India is expected to aid the stabilisation of the INR following its recent depreciation, largely driven by a temporary demand-supply mismatch for USD in the onshore market.

Global factors, however, remain critical. Any delay in the signing of the USA free trade deal, or the emergence of broader geopolitical challenges, could weigh on investor sentiment and market performance. Additionally, volatility in crude oil prices and global interest rate trajectories will need close monitoring, as they directly impact inflation expectations and liquidity conditions.

What are the three key factors likely to impact equity markets in 2026?

Sustainability of Earnings Growth: Corporate earnings are expected to improve, driven by higher government spending, stable GST collections, and personal income tax relief.

US-India Trade Deal: A resolution on trade issues could attract foreign investors and support exports.

GoI Capex: Focus on infrastructure and private sector investment could drive growth.

Is large-scale FPI inflow likely to occur only after the US trade deal in 2026?

While a US trade deal could boost investor confidence, it's uncertain if large-scale FPI inflow will occur only after the deal. A potential India-US trade deal in 2026 could be a healthy sign to enhance market access, strengthen supply chain benefitting the sectors specially electronics, automobiles, and pharmaceuticals.

Do you think India is a very lucrative market for NBFCs?

India's growing economy and increasing financial inclusion make it an attractive market for NBFCs, but specific opportunities and challenges depend on various factors. India's credit penetration is indeed low, especially compared to other emerging markets. With a huge population and growing middle class, there's massive potential for credit growth. From the overall segment opportunity, diversified NBFCs including HFCs continued to witness steady loan growth led by underlying demand from retail segment.

Do you expect more measures from the government in the Union Budget 2026 to boost economy and earnings growth?

The year 2025 started with significant tax relief, raising the limit to Rs 12 lakh with recalibrating the slab rates in the new regime. Also, the mid-year review on GST rates boosted the sentiments and much needed support to the consumption led demand and announcement of FDI of 100% in the Insurance sector.

The market expects policy support to continue, with measures to boost economy and earnings growth, capex primarily from government side which could be focused towards infrastructure spending. Measures around reducing import dependence, possibly via higher customs duties and targeted incentives for local manufacturing could help strengthen the domestic ecosystem.

Do you foresee a continuation of the RBI’s rate-cut cycle in 2026, or will the central bank opt for a prolonged pause?

The Reserve Bank of India closed out 2025 with a policy statement that is both strategically calibrated and firmly anchored in macroeconomic realities. Against the backdrop of historic disinflation and resilient economic momentum, the Monetary Policy Committee (MPC) delivered a 25bps rate cut, lowering the repo rate to 5.25%, while maintaining its neutral stance.

The RBI’s soft-but-measured tone creates an environment in which fixed-income remains a compelling tactical allocation even as equities benefit from strong macro undercurrents. With one more rate cut still on the table—and liquidity guidance turning explicitly supportive—the fixed income outlook enters 2026 on exceptionally firm footing. The RBI may continue its rate-cut cycle in 2026, depending on inflation trends and economic growth.

What is your contrarian investment bet for 2026?

Indian IT sector has remained muted relative to global peers in the year 2025 in view of the apparent lag on AI related initiatives &amp;amp; earnings guidance.

Given the strong talent pool, healthy balance sheet, global client reach coupled with structural digital initiatives from the Government of India, the Indian industry / sector may see potential winners in the medium to long term.

Which three sectors are on your radar for building a 2026 portfolio?

Overall, while near-term uncertainties persist, the medium-term outlook remains supportive, underpinned by domestic demand resilience, currency stabilisation, and robust earnings growth. A balanced approach favouring small-caps for growth potential while maintaining exposure to large-caps for stability could help investors navigate this evolving landscape. From the sectoral exposure perspective, some of the sectors which looks relatively a potential opportunity:

Financial Services: Financial Services as a sector has shown improvement in earnings and also with around 5 industries which this sector encompasses have shown relatively better resilience with high growth businesses viz. capital markets, fintech and general insurance with a mature business mix of Bank as well as Life Insurance companies. The sector expects the credit expansion and interest rate cycles could support growth.

Automobiles: Automobile companies reported a good set of numbers in Q2FY26, supported by the GST cut, strong festive demand, continued premiumization, and healthy growth in exports. Premiumization trend continued in Q2FY26, driving both volume growth and better realization across segments. Overall sector sentiment is turning increasingly positive, supported by expectations of lower interest rates, higher disposable income from tax savings, and upcoming 8th pay Commission, and the recent GST Cut.

Healthcare: This sector showcases stable demand and improving economic activity could benefit the sector. Within the sector, Domestic business is expected to maintain high single digit to double digit growth momentum with US generic launch pipeline remains thin. Hospital sector growth is likely to mirror bed capacity addition and price increase going forward.

How do you assess the outlook for banking and financial services funds in light of recent economic indicators and regulatory changes?

We are at a very different point in the financial cycle. Indian bank balance sheets are the cleanest in decades—NPAs are at cycle lows, capital adequacy is strong, and ROEs are structurally higher. This creates operating leverage as credit growth sustains in the low-to-mid teens. Also, the valuations are comfortable from entry point of view. Despite strong fundamentals, BFSI is trading at a discount to the broader market on P/B, especially banks.

We believe, this combination of earnings visibility plus reasonable valuations is rare. Finally, structural financialisation is a long runway theme—MF AUM, insurance penetration, demat accounts and digital payments are all compounding faster than GDP.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sensex down 32 points, Nifty up 17 points, ending flat after midday dip, FMCG and pharma indices fell, while auto, IT, metal, power, PSU Bank gained, Over 130 stocks hit 52-week highs; Vodafone Idea, Steel Strips Wheels surged

* Sensex down 32 points, Nifty up 17 points, ending flat after midday dip
* FMCG and pharma indices fell, while auto, IT, metal, power, PSU Bank gained
* Over 130 stocks hit 52-week highs; Vodafone Idea, Steel Strips Wheels surged

Indian equity indices opened higher in 2026 but closed flat after midday profit booking. Sensex fell 32 points, Nifty rose 17. FMCG and pharma lagged, while auto, IT, and PSU banks gained. Over 130 stocks hit 52-week highs; ITC fell 9% on new excise duty.

shorts/business/taking-stock-market-witnesses-volatility-on-first-day-of-2026-ends-flat

* Sensex down 32 points, Nifty up 17 points, ending flat after midday dip
* FMCG and pharma indices fell, while auto, IT, metal, power, PSU Bank gained
* Over 130 stocks hit 52-week highs; Vodafone Idea, Steel Strips Wheels surged

The Indian equity indices started 2026 on a positive note, extending the previous session's gains amid buying across the sectors barring FMCG, pharma. However, midday profit booking trimmed much of the early gains to close on a flat note.

At close, the Sensex was down 32 points or 0.04 percent at 85,188.60, and the Nifty was up 16.95 points or 0.06 percent at 26,146.55. The BSE midcap index rose 0.3 percent, while smallcap index ended flat.

The market traded in a narrow range during today's session, opening higher and approaching the 26,200 level, but ultimately consolidated gains to close with little change.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/india-posts-slowest-mcap-rise-in-three-years-amid-global-surge-in-2025-13751934.html">India posts slowest mcap rise in three years amid global surge in 2025</a>

Eternal, NTPC, Bajaj Auto, Shriram Finance, Wipro were among top gainers on the Nifty, while losers were ITC, Bajaj Finance, Dr Reddy's Labs, ONGC, Tata Consumer.

On the sectoral front, FMCG index shed 3 percent, and pharma index down 0.4 percent, while auto, IT, metal, power, telecom, PSU Bank up 0.4-1.5 percent.

Also Read - <a href="https://www.moneycontrol.com/news/business/moneycontrol-research/will-the-nifty-cross-30-000-in-2026-13752085.html">Will the Nifty cross 30,000 in 2026?</a>

In stocks, Blue Dart Express shares gained 2.5% as tax demand drops, Jindal Poly Films shares declined 2% on reporting losses in Q2, ITC shares fell 9%, Godfrey Phillips shed 17% as govt imposes new excise duty on cigarettes.

Escorts Kubota shares rose 2% as tractor sales jump 38.5%, Vodafone Idea shares rose 8% on agreement with the Vodafone Group, SML Mahindra share price jumped 3% as sales increase by 67%, Steel Strips Wheels share price rose 8% as sales jumps 22%.

More than 130 stocks hit 52-week high, including Ashok Leyland, Adani Energy, APL Apollo, Bank of Maharahtra, TVS Motor, Graphite India, Shriram Finance, IIFL Finance, L&amp;T Finance, Phoenix Mills, SAIL, Hindalco Industries, Reliance Industries, Titan Company, HPCL, BPCL, Indus Towers, among others. <a href="https://www.moneycontrol.com/stocks/market-stats/52-week-high-bse/?indexName=BSE%2520500&amp;id=12">Click to View More</a>

Outlook for January 2

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After witnessing a sharp upmove on Wednesday, Nifty consolidated with narrow range movement on Thursday and closed the day higher by 16 points. Nifty opened on a positive note, later shifted into a range bound action and that continued for the whole session. The high low range for the day was around 85 points.

A small negative candle was formed on the daily chart and Nifty is currently resisting at the down sloping trend line around 26200 levels. Having formed a new higher bottom reversal pattern recently at 25878, the market is expected move up further and break decisively above the hurdle of 26200 levels after 1-2 sessions of consolidation movement.

The near-term uptrend of Nifty remains intact. After a smaller consolidation movement near 26100-26200 levels in the short term, the Nifty is expected to show sharp breakout towards 26300-26400 levels in the near term. Immediate support is placed at 2605

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

On the first trading session of calendar year 2026, the benchmark Nifty index opened the year on a subdued note, moving within a narrow intraday band of just 84 points. This was the smallest daily trading range recorded since September 17, 2025, reflecting a phase of indecision and limited participation from both buyers and sellers. The index ultimately formed a small-bodied candle on the daily chart, a technical signal that typically denotes hesitation and a lack of clear directional conviction in the market.

Going ahead, for Nifty, the zone of 26200-26240 will act as an important hurdle for the index. Any sustainable move above the 26240 level will lead to a sharp upside rally in the index upto the 26400 level in the short term. On the downside, the zone of 26030-26000 will act as immediate support for the index.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

Taking Stock: Market witnesses volatility on first day of 2026, ends flat

The Indian equity indices started 2026 on a positive note, extending the previous session's gains amid buying across the sectors barring FMCG, pharma. However, midday profit booking trimmed much of the early gains to close on a flat note.

At close, the Sensex was down 32 points or 0.04 percent at 85,188.60, and the Nifty was up 16.95 points or 0.06 percent at 26,146.55. The BSE midcap index rose 0.3 percent, while smallcap index ended flat.

The market traded in a narrow range during today's session, opening higher and approaching the 26,200 level, but ultimately consolidated gains to close with little change.

Also Read: India posts slowest mcap rise in three years amid global surge in 2025

Eternal, NTPC, Bajaj Auto, Shriram Finance, Wipro were among top gainers on the Nifty, while losers were ITC, Bajaj Finance, Dr Reddy's Labs, ONGC, Tata Consumer.

On the sectoral front, FMCG index shed 3 percent, and pharma index down 0.4 percent, while auto, IT, metal, power, telecom, PSU Bank up 0.4-1.5 percent.

Also Read - Will the Nifty cross 30,000 in 2026?

In stocks, Blue Dart Express shares gained 2.5% as tax demand drops, Jindal Poly Films shares declined 2% on reporting losses in Q2, ITC shares fell 9%, Godfrey Phillips shed 17% as govt imposes new excise duty on cigarettes.

Escorts Kubota shares rose 2% as tractor sales jump 38.5%, Vodafone Idea shares rose 8% on agreement with the Vodafone Group, SML Mahindra share price jumped 3% as sales increase by 67%, Steel Strips Wheels share price rose 8% as sales jumps 22%.

More than 130 stocks hit 52-week high, including Ashok Leyland, Adani Energy, APL Apollo, Bank of Maharahtra, TVS Motor, Graphite India, Shriram Finance, IIFL Finance, L&amp;amp;T Finance, Phoenix Mills, SAIL, Hindalco Industries, Reliance Industries, Titan Company, HPCL, BPCL, Indus Towers, among others. Click to View More

Outlook for January 2

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After witnessing a sharp upmove on Wednesday, Nifty consolidated with narrow range movement on Thursday and closed the day higher by 16 points. Nifty opened on a positive note, later shifted into a range bound action and that continued for the whole session. The high low range for the day was around 85 points.

A small negative candle was formed on the daily chart and Nifty is currently resisting at the down sloping trend line around 26200 levels. Having formed a new higher bottom reversal pattern recently at 25878, the market is expected move up further and break decisively above the hurdle of 26200 levels after 1-2 sessions of consolidation movement.

The near-term uptrend of Nifty remains intact. After a smaller consolidation movement near 26100-26200 levels in the short term, the Nifty is expected to show sharp breakout towards 26300-26400 levels in the near term. Immediate support is placed at 2605

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

On the first trading session of calendar year 2026, the benchmark Nifty index opened the year on a subdued note, moving within a narrow intraday band of just 84 points. This was the smallest daily trading range recorded since September 17, 2025, reflecting a phase of indecision and limited participation from both buyers and sellers. The index ultimately formed a small-bodied candle on the daily chart, a technical signal that typically denotes hesitation and a lack of clear directional conviction in the market.

Going ahead, for Nifty, the zone of 26200-26240 will act as an important hurdle for the index. Any sustainable move above the 26240 level will lead to a sharp upside rally in the index upto the 26400 level in the short term. On the downside, the zone of 26030-26000 will act as immediate support for the index.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

Sensex and Nifty slipped after early gains in first trading session of 2026, Profit booking, FII selling, and thin volumes weighed on market sentiment, Tobacco stocks fell sharply after new excise duty on cigarettes

* Sensex and Nifty slipped after early gains in first trading session of 2026
* Profit booking, FII selling, and thin volumes weighed on market sentiment
* Tobacco stocks fell sharply after new excise duty on cigarettes

Sensex and Nifty slipped into negative territory in the first 2026 trading session due to profit booking, FII selling, thin volumes from global market holidays, and new excise duty on cigarettes. ITC and Godfrey Phillips shares fell sharply.

shorts/business/sensex-falls-150-pts-from-day-s-high-nifty-near-26-150-in-first-session-of-2026-5-key-reasons-behind-market-decline

* Sensex and Nifty slipped after early gains in first trading session of 2026
* Profit booking, FII selling, and thin volumes weighed on market sentiment
* Tobacco stocks fell sharply after new excise duty on cigarettes

The benchmark equity indices Sensex and Nifty gave up early gains and settled flat, dragged by profit booking amid thin trading volumes due to New Year holidays.

The Sensex dipped 32 points or 0.04 percent to settle at 85,188.60 on Thursday. During the day, it hit a high of 85,451.70 and a low of 85,101.52, fluctuating 350.18 points. The Nifty went up marginally by 16.95 points or 0.06 percent to end at 26,146.55.

&nbsp;

In calendar year 2025, the Sensex gained 7,081.59 points or 9 percent, while the Nifty advanced 2,484.8 points or 10.5 percent.

Key reasons behind market decline

1) FII selling: Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,597.38 crore on Wednesday, extending their selling streak to seven consecutive sessions. In December 2025, FIIs were net sellers to the tune of Rs 34,349.62 crore.

2) Thin trading volumes: Liquidity remained thin as most major global markets, including the US, Europe and several Asian markets, were closed for New Year’s Day.

"Indian equity markets step into the first trading session of 2026 on a cautiously optimistic note, set against a globally quiet backdrop as most major international markets remain closed for New Year’s Day. With the US, Europe, and several Asian markets shut, global cues are limited and early liquidity is expected to remain thin," Ponmudi R, CEO of Enrich Money, said.
<h3><a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-firm-opening-us-markets-fall-liveblog-13751894.html" target="_blank">Stock Market LIVE Updates</a></h3>
3) Profit booking: Profit booking was seen in FMCG and pharma stocks. <a href="https://www.moneycontrol.com/news/business/markets/itc-shares-fall-4-5-godfrey-phillips-down-8-as-govt-imposes-new-excise-duty-on-cigarettes-13752182.html" target="_blank">Shares of tobacco companies</a> declined sharply after the government imposed a new excise duty on cigarettes.

ITC shares fell more than 6 percent to Rs 378.45, leading losses on the Nifty 50 index, while Godfrey Phillips India tumbled 10 percent to Rs 2,484.80 in morning trade.

"Benchmarks are expected to remain sideways with selective buying amid thin trading volumes due to New Year holidays across global markets," Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services, said. He added that quarterly earnings, India-US trade negotiations and the Union Budget would guide the near-term market trend.

4) Sensex Weekly expiry: Thursday also marked the first weekly derivatives expiry of calendar year 2026. Expiry sessions tend to be volatile as traders square off or roll over positions, leading to sharp intraday movements.

5) Rupee depreciation: The rupee depreciated 11 paise to 89.99 against the US dollar in early trade, weighed down by persistent foreign fund outflows. The domestic currency opened at 89.94 and weakened further during the session.

Technical Analysis

Anand James, Chief Market Strategist at Geojit Investments, said on the Nifty Outlook "While the rise above 26,027 set off upsides yesterday, the morning star candlestick pattern formed thereof encourages us to pursue more gains today. That said, the closing hour's decline prompts us to have the downside marker in the 26,100 vicinity for initial upside plays aiming 26,300 and beyond. We will wait for a direct fall below 26,027 to completely abandon upside plays."

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

Sensex settles 250 pts lower from day's high, Nifty ends below 26,150: 5 key reasons behind market decline

Sensex News today: Sensex settles 250 pts lower from day's high, Nifty ends below 26,150: 5 key reasons behind market decline

The benchmark equity indices Sensex and Nifty gave up early gains and settled flat, dragged by profit booking amid thin trading volumes due to New Year holidays.

The Sensex dipped 32 points or 0.04 percent to settle at 85,188.60 on Thursday. During the day, it hit a high of 85,451.70 and a low of 85,101.52, fluctuating 350.18 points. The Nifty went up marginally by 16.95 points or 0.06 percent to end at 26,146.55.

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In calendar year 2025, the Sensex gained 7,081.59 points or 9 percent, while the Nifty advanced 2,484.8 points or 10.5 percent.

Key reasons behind market decline

1) FII selling: Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,597.38 crore on Wednesday, extending their selling streak to seven consecutive sessions. In December 2025, FIIs were net sellers to the tune of Rs 34,349.62 crore.

2) Thin trading volumes: Liquidity remained thin as most major global markets, including the US, Europe and several Asian markets, were closed for New Year’s Day.

&quot;Indian equity markets step into the first trading session of 2026 on a cautiously optimistic note, set against a globally quiet backdrop as most major international markets remain closed for New Year’s Day. With the US, Europe, and several Asian markets shut, global cues are limited and early liquidity is expected to remain thin,&quot; Ponmudi R, CEO of Enrich Money, said.
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3) Profit booking: Profit booking was seen in FMCG and pharma stocks. Shares of tobacco companies declined sharply after the government imposed a new excise duty on cigarettes.

ITC shares fell more than 6 percent to Rs 378.45, leading losses on the Nifty 50 index, while Godfrey Phillips India tumbled 10 percent to Rs 2,484.80 in morning trade.

&quot;Benchmarks are expected to remain sideways with selective buying amid thin trading volumes due to New Year holidays across global markets,&quot; Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services, said. He added that quarterly earnings, India-US trade negotiations and the Union Budget would guide the near-term market trend.

4) Sensex Weekly expiry: Thursday also marked the first weekly derivatives expiry of calendar year 2026. Expiry sessions tend to be volatile as traders square off or roll over positions, leading to sharp intraday movements.

5) Rupee depreciation: The rupee depreciated 11 paise to 89.99 against the US dollar in early trade, weighed down by persistent foreign fund outflows. The domestic currency opened at 89.94 and weakened further during the session.

Technical Analysis

Anand James, Chief Market Strategist at Geojit Investments, said on the Nifty Outlook &quot;While the rise above 26,027 set off upsides yesterday, the morning star candlestick pattern formed thereof encourages us to pursue more gains today. That said, the closing hour's decline prompts us to have the downside marker in the 26,100 vicinity for initial upside plays aiming 26,300 and beyond. We will wait for a direct fall below 26,027 to completely abandon upside plays.&quot;

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

12 out of 18 years BSE Metal has given negative returns in January.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	37,263.26	37,411.34	37,659.72	37,014.88	36,866.80	36,618.42	36,470.34
Fibonacci	37,166.33	37,259.90	37,411.34	37,014.88	36,863.44	36,769.87	36,618.42
Camarilla	37,151.51	37,187.85	37,224.20	37,014.88	37,078.83	37,042.49	37,006.14

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