Market extends gain for second week, Nifty hits fresh high; rupee falls

Market This Week

The Indian equity indices finished the first week of 2026 on a historic note, with the Nifty 50 hitting a fresh all-time intraday high of 26,340 during the Friday, January 2 session. Market extended the gains in the second consecutive week led by strong auto sales numbers, and enthusiasm around better earnings outlook, ignoring geo-political tension and persistent FII selling.

BSE Sensex index jumped 720.56 points or 0.84 percent at 85,762.01, while Nifty50 index added 286.25 points or 1.09 percent at 26,328.55.

The BSE Large-cap Index gained 1.3 percent supported by IDBI Bank, Bosch, Indian Overseas Bank, Jindal Steel, NTPC, Tata Steel, while ITC, Waaree Energies, Indian Railway Finance Corporation, Berger Paints India, United Spirits fell between 3-13 percent.

The BSE Small-cap index rose 1 percent supported by Silver Touch Technologies, Orient Technologies, Shalimar Paints, Veranda Learning Solutions, Integrated Industries, Nazara Technologies, Entero Healthcare Solutions, Stallion India Fluorochemicals, Transformers and Rectifiers India, KPI Green Energy, IIFL Capital Services, InfoBeans Technologies, Indo Farm Equipment, United Foodbrands. On the other hand, Godfrey Phillips India, Indo Thai Securities, Rajesh Exports, Privi Speciality Chemicals, Kothari Industrial Corporation, Tourism Finance Corp of India, Vishnu Prakash R Punglia, Cupid, Bhagiradh Chemicals and Industries, Wardwizard Innovations and Mobility, Deccan Gold Mines shed between 10-20 percent.

BSE Mid-cap Index jumped 1.7 percent with Ola Electric Mobility, Bank of Maharashtra, SJVN, Steel Authority of India, Gujarat Gas, Indian Bank rising over 10 percent each. However, PB Fintech, Rail Vikas Nigam, KPIT Technologies, Premier Energies, Coromandel International, Deepak Nitrite losing between 3-6 percent.

During the week, Reliance Industries added the most in terms of market value, followed by State Bank of India, NTPC, Mahindra and Mahindra. On the other hand, ITC, Tata Consultancy Services, Infosys, lost the most of their market-cap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.)

Despite turning net buyers in the Friday's session, the Foreign Institutional Investors (FIIs) remained net sellers the Indian equity markets during the first week of 2026, as they sold equities worth Rs 13,180.09 crore. On the other hand, Domestic Institutional Investors (DIIs) extended their support as they bought equities worth Rs 17766.57 crore.

Among sectors, Nifty Metal and PSU Bank indices added 5 percent each, while Nifty Auto, Media, Energy, Oil & Gas rose 3 percent each. However, Nifty FMCG index shed 3.7 percent, and Nifty IT index fell 0.6%.

The Indian rupee depreciated further against the US dollar as the domestic currency settled at 90.19 per dollar on January 2, down 34 paise from the 89.85 closing of December 26, 2025.