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.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 74,563.92 | -1,470.50 | -1.93% |
| Nifty 50 | 23,151.10 | -488.05 | -2.06% |
| Nifty Bank | 53,757.85 | -1,343.10 | -2.44% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| TATA Cons. Prod | 1,083.60 | 25.80 | +2.44% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Larsen | 3,439.00 | -280.50 | -7.54% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty FMCG | 47924.15 | -265.00 | -0.55% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Metal | 11292.50 | -571.40 | -4.82% |
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&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.
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