NIFTY 50

<img class="size-full wp-image-13755071" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260103024951_bse-nsee_nifty-Sensex.jpg" alt="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." width="1280" height="720" /> 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.

<img class="size-full wp-image-13755073" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260103025149_Sensex_Nifty.jpg" alt="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." width="1280" height="720" /> 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.

<img class="size-full wp-image-13755074" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260103025215_sensex_nifty-marketup_sensexup-Niftyup.jpg" alt="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." width="1280" height="720" /> 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.

<img class="size-full wp-image-13755075" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260103025239_sensex_stocks_nifty_stockmarket.jpg" alt="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." width="1280" height="720" /> 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.

<img class="size-full wp-image-13755076" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260103025257_stocks5.jpg" alt="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." width="1280" height="720" /> 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.

<img class="size-full wp-image-13755077" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260103025315_stock-market-forex-trading-graph.jpg" alt="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.)" width="1080" height="720" /> 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.)

<img class="size-full wp-image-13755078" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260103025340_stock1.jpg" alt="Despite remaining 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. " width="1280" height="720" /> 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.

<img class="size-full wp-image-13755079" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260103025400_sensex_nifty_stock-stocks_stock.jpg" alt="Among sectors, Nifty Metal and PSU Bank indices added 5 percent each, while Nifty Auto, Media, Energy, Oil &amp; Gas rose 3 percent each. However, Nifty FMCG index shed 3.7 percent, and Nifty IT index fell 0.6%." width="1280" height="720" /> Among sectors, Nifty Metal and PSU Bank indices added 5 percent each, while Nifty Auto, Media, Energy, Oil &amp; Gas rose 3 percent each. However, Nifty FMCG index shed 3.7 percent, and Nifty IT index fell 0.6%.

<img class="size-full wp-image-13755080" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260103025424_rupee_fall.jpg" alt="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." width="1280" height="720" /> 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.

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

IT and chemicals appear to be potential contrarian opportunities for 2026, said Siddharth Vora.

shorts/business/daily-voice-another-10-rally-in-2026-pl-asset-s-siddharth-vora-sees-earnings-liquidity-lining-up

According to Siddharth Vora, the Head- Quant Investment Strategies and Fund Manager at PL Asset Management, a 10 percent rally or potentially higher appears achievable in 2026.

This would be supported by improving earnings growth on a lower base, strong domestic liquidity, neutral valuations, and new demand triggers, he said in an interview to Moneycontrol.

In the December quarter earnings cycle starting next week, upgrades are expected to meaningfully outpace downgrades, he believes. In fact, this could mark the start of a more durable earnings upgrade cycle, he said.

Do you believe 2026 is likely to be a year of positive surprises, driven by capex, credit, and consumption growth?

The macro setup for 2026 remains constructive across capex, credit, and consumption. While outcomes are likely to be positive, they may not qualify as major surprises, as markets have already started factoring in a favourable outlook.

Government-led capex provides visibility, private sector balance sheets are healthier, and credit growth remains steady. Incremental upside could still emerge from execution-led gains, particularly if private capex and consumption sustain momentum.

Do you expect the market to deliver an additional 10 percent rally in 2026, following the 10 percent gains seen in 2025?

A 10 percent rally or potentially higher appears achievable in 2026. This would be supported by improving earnings growth on a lower base, strong domestic liquidity, neutral valuations, and new demand triggers.

A conducive monetary and fiscal policy environment, potential trade agreements, and India’s relative underperformance versus emerging markets, developed markets, and gold could attract incremental flows. Additionally, any unwinding of the global AI trade could position India as a relatively neutral and attractive market.

Do you believe the market will receive strong support from earnings surprises in the new year, despite global challenges?

Earnings support is likely to be more sector-specific rather than broad-based. While global challenges may persist, domestic-facing sectors with stronger balance sheets and operating leverage are better positioned to deliver positive earnings surprises. Stock selection will therefore play a more important role in returns.

What are your expectations from the December quarter earnings season starting in January? Do you foresee a sharp increase in upgrades compared to downgrades?

Upgrades are expected to meaningfully outpace downgrades in the December quarter earnings cycle. Financials, metals, and industrials are likely to lead this trend, supported by improving demand visibility, operating leverage, and stabilizing cost structures. This could mark the start of a more durable earnings upgrade cycle.

Are you bullish on the real estate and paint sectors for 2026?

A favourable interest rate environment and stable crude prices are positive tailwinds for both sectors. However, competitive intensity remains high, which could keep margins under pressure. As a result, the opportunity is more stock-specific rather than sector-wide, with a focus on execution capability, balance sheet strength, and pricing discipline.

What is your contrarian bet for the new year?

IT and chemicals appear to be potential contrarian opportunities for 2026. Both sectors underperformed in 2025 due to global slowdown concerns and pricing pressures. Select companies could emerge as outperformers as demand stabilizes and valuations remain attractive relative to long-term fundamentals.

Are you positive on new-age digital consumer companies for 2026?

From a growth perspective, the outlook remains constructive as digital adoption continues to deepen. However, from a valuation and financial discipline standpoint, caution is warranted. The market is increasingly rewarding profitability, cash flow generation, and sustainable unit economics, which will be key differentiators within the space.

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: Another 10% rally in 2026? PL Asset’s Siddharth Vora sees earnings, liquidity lining up

According to Siddharth Vora, the Head- Quant Investment Strategies and Fund Manager at PL Asset Management, a 10 percent rally or potentially higher appears achievable in 2026.

This would be supported by improving earnings growth on a lower base, strong domestic liquidity, neutral valuations, and new demand triggers, he said in an interview to Moneycontrol.

In the December quarter earnings cycle starting next week, upgrades are expected to meaningfully outpace downgrades, he believes. In fact, this could mark the start of a more durable earnings upgrade cycle, he said.

Do you believe 2026 is likely to be a year of positive surprises, driven by capex, credit, and consumption growth?

The macro setup for 2026 remains constructive across capex, credit, and consumption. While outcomes are likely to be positive, they may not qualify as major surprises, as markets have already started factoring in a favourable outlook.

Government-led capex provides visibility, private sector balance sheets are healthier, and credit growth remains steady. Incremental upside could still emerge from execution-led gains, particularly if private capex and consumption sustain momentum.

Do you expect the market to deliver an additional 10 percent rally in 2026, following the 10 percent gains seen in 2025?

A 10 percent rally or potentially higher appears achievable in 2026. This would be supported by improving earnings growth on a lower base, strong domestic liquidity, neutral valuations, and new demand triggers.

A conducive monetary and fiscal policy environment, potential trade agreements, and India’s relative underperformance versus emerging markets, developed markets, and gold could attract incremental flows. Additionally, any unwinding of the global AI trade could position India as a relatively neutral and attractive market.

Do you believe the market will receive strong support from earnings surprises in the new year, despite global challenges?

Earnings support is likely to be more sector-specific rather than broad-based. While global challenges may persist, domestic-facing sectors with stronger balance sheets and operating leverage are better positioned to deliver positive earnings surprises. Stock selection will therefore play a more important role in returns.

What are your expectations from the December quarter earnings season starting in January? Do you foresee a sharp increase in upgrades compared to downgrades?

Upgrades are expected to meaningfully outpace downgrades in the December quarter earnings cycle. Financials, metals, and industrials are likely to lead this trend, supported by improving demand visibility, operating leverage, and stabilizing cost structures. This could mark the start of a more durable earnings upgrade cycle.

Are you bullish on the real estate and paint sectors for 2026?

A favourable interest rate environment and stable crude prices are positive tailwinds for both sectors. However, competitive intensity remains high, which could keep margins under pressure. As a result, the opportunity is more stock-specific rather than sector-wide, with a focus on execution capability, balance sheet strength, and pricing discipline.

What is your contrarian bet for the new year?

IT and chemicals appear to be potential contrarian opportunities for 2026. Both sectors underperformed in 2025 due to global slowdown concerns and pricing pressures. Select companies could emerge as outperformers as demand stabilizes and valuations remain attractive relative to long-term fundamentals.

Are you positive on new-age digital consumer companies for 2026?

From a growth perspective, the outlook remains constructive as digital adoption continues to deepen. However, from a valuation and financial discipline standpoint, caution is warranted. The market is increasingly rewarding profitability, cash flow generation, and sustainable unit economics, which will be key differentiators within the space.

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.

On the weekly charts, the benchmark index rose 1.1 percent and formed a bullish candle with a lower shadow, indicating a healthy trend with strong buying interest at lower levels.

shorts/business/technical-view-convincing-consolidation-breakout-lifts-hopes-of-nifty-s-move-toward-26-500-bank-nifty-targets-above-61-000

The Nifty 50 as well as the Bank Nifty staged a stellar performance on January 2, witnessing a convincing consolidation breakout and ending at new record closing highs, supported by momentum indicators aligning with the rally. Both indices extended their uptrend for the third and fourth consecutive sessions, respectively. This strong upside momentum fueled hopes that the rally may continue in the short term, with the Nifty 50 inching toward the 26,500–27,000 range and the Bank Nifty moving beyond the 61,000 zone ahead of the December quarter earnings season, which begins next week.

After initial volatility, the Nifty 50 picked up momentum and maintained its upward journey throughout the session, hitting an intraday record high of 26,340 in late trade. The index finished at a new record closing high of 26,329, up 182 points, or 0.70 percent, and formed a long bullish candle on the daily charts, indicating a decisive breakout from the recent consolidation phase, which is a positive development.

On the weekly charts, the benchmark index rose 1.1 percent and formed a bullish candle with a lower shadow, indicating a healthy trend with strong buying interest at lower levels.

According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, the underlying trend of the Nifty is sharply upward. “The next upside target to be watched over the next one to two weeks is around 26,750 (the 61.8 percent Fibonacci extension, taken from the swings of the April low to June high and the August low). Immediate support is placed at 26,200,” he said.

Further, the index is trading above all key short- and long-term moving averages, keeping the broader trend firmly positive. The MACD has generated a fresh buy crossover on the daily timeframe, while the RSI has moved above the 60 mark, signalling strengthening momentum.

“With the base now shifting higher to the 26,100 zone, the upside appears open towards 26,500 levels in the near term,” said Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking.

Weekly options data also indicated that the Nifty 50 is expected to march toward the 26,500–27,000 range, with support placed in the 26,200–26,000 zone.

The maximum Call open interest was seen at the 27,000 strike, followed by the 26,500 and 26,600 strikes, with the maximum Call writing at the 26,500, 27,000, and 26,650 strikes. Meanwhile, the 26,000 strike holds the maximum Put open interest, followed by the 26,200 and 26,100 strikes, with the maximum Put writing at the 26,300, 26,200, and 26,250 strikes.

Bank Nifty

The Bank Nifty maintained its uptrend and finally achieved a new all-time high of 60,204 after a month since its previous record high. The index closed above the upper Bollinger Band with above-average volumes, raising hopes for a continuation of the rally.

The banking index rallied 439 points, or 0.74 percent, to 60,151 and formed a long bullish candle on the daily timeframe.

For the week, the index surged 1.93 percent and formed a strong green candle resembling a bullish flag-and-pole pattern breakout on the weekly charts, signalling the possibility of a robust run ahead despite any intermittent consolidation.

On the daily charts, the index is trading well above all key moving averages, with short-term moving averages trending upward and expansion visible in the Bollinger Bands. The RSI jumped to 67.55, while the MACD generated a fresh buy crossover, with the histogram climbing above the zero line, signalling increasing momentum.

“With confirmation of a bullish flag-and-pole pattern breakout, the index signals a conservative target around 61,500, followed by 62,500 in the near term,” said Nilesh Jain of Centrum Broking, adding that immediate support is placed at the 21-day DMA near the 59,300 level.

Furthermore, rollover data indicates relatively stronger momentum, with rollovers rising to 77.46 percent, marginally above the three-month average. Based on these indicators, the Bank Nifty is likely to continue outperforming the Nifty index in the near term, Jain believes.

Meanwhile, India VIX, the fear gauge, remained below all key moving averages and near the lower zone, signalling a favourable trend for bulls. The index closed at 9.45, up 2.89 percent on Friday and 3.28 percent for the week.

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.

Technical View: Convincing consolidation breakout lifts hopes of Nifty’s move toward 26,500; Bank Nifty targets above 61,000

The Nifty 50 as well as the Bank Nifty staged a stellar performance on January 2, witnessing a convincing consolidation breakout and ending at new record closing highs, supported by momentum indicators aligning with the rally. Both indices extended their uptrend for the third and fourth consecutive sessions, respectively. This strong upside momentum fueled hopes that the rally may continue in the short term, with the Nifty 50 inching toward the 26,500–27,000 range and the Bank Nifty moving beyond the 61,000 zone ahead of the December quarter earnings season, which begins next week.

After initial volatility, the Nifty 50 picked up momentum and maintained its upward journey throughout the session, hitting an intraday record high of 26,340 in late trade. The index finished at a new record closing high of 26,329, up 182 points, or 0.70 percent, and formed a long bullish candle on the daily charts, indicating a decisive breakout from the recent consolidation phase, which is a positive development.

On the weekly charts, the benchmark index rose 1.1 percent and formed a bullish candle with a lower shadow, indicating a healthy trend with strong buying interest at lower levels.

According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, the underlying trend of the Nifty is sharply upward. “The next upside target to be watched over the next one to two weeks is around 26,750 (the 61.8 percent Fibonacci extension, taken from the swings of the April low to June high and the August low). Immediate support is placed at 26,200,” he said.

Further, the index is trading above all key short- and long-term moving averages, keeping the broader trend firmly positive. The MACD has generated a fresh buy crossover on the daily timeframe, while the RSI has moved above the 60 mark, signalling strengthening momentum.

“With the base now shifting higher to the 26,100 zone, the upside appears open towards 26,500 levels in the near term,” said Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking.

Weekly options data also indicated that the Nifty 50 is expected to march toward the 26,500–27,000 range, with support placed in the 26,200–26,000 zone.

The maximum Call open interest was seen at the 27,000 strike, followed by the 26,500 and 26,600 strikes, with the maximum Call writing at the 26,500, 27,000, and 26,650 strikes. Meanwhile, the 26,000 strike holds the maximum Put open interest, followed by the 26,200 and 26,100 strikes, with the maximum Put writing at the 26,300, 26,200, and 26,250 strikes.

Bank Nifty

The Bank Nifty maintained its uptrend and finally achieved a new all-time high of 60,204 after a month since its previous record high. The index closed above the upper Bollinger Band with above-average volumes, raising hopes for a continuation of the rally.

The banking index rallied 439 points, or 0.74 percent, to 60,151 and formed a long bullish candle on the daily timeframe.

For the week, the index surged 1.93 percent and formed a strong green candle resembling a bullish flag-and-pole pattern breakout on the weekly charts, signalling the possibility of a robust run ahead despite any intermittent consolidation.

On the daily charts, the index is trading well above all key moving averages, with short-term moving averages trending upward and expansion visible in the Bollinger Bands. The RSI jumped to 67.55, while the MACD generated a fresh buy crossover, with the histogram climbing above the zero line, signalling increasing momentum.

“With confirmation of a bullish flag-and-pole pattern breakout, the index signals a conservative target around 61,500, followed by 62,500 in the near term,” said Nilesh Jain of Centrum Broking, adding that immediate support is placed at the 21-day DMA near the 59,300 level.

Furthermore, rollover data indicates relatively stronger momentum, with rollovers rising to 77.46 percent, marginally above the three-month average. Based on these indicators, the Bank Nifty is likely to continue outperforming the Nifty index in the near term, Jain believes.

Meanwhile, India VIX, the fear gauge, remained below all key moving averages and near the lower zone, signalling a favourable trend for bulls. The index closed at 9.45, up 2.89 percent on Friday and 3.28 percent for the week.

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.

Nifty hits record high, Sensex up 573 points on broad sector buying., Nifty Bank index reaches record high; midcap and smallcap indices outperform, Nearly 180 stocks hit 52-week highs; FMCG sector declines 1%

* Nifty hits record high, Sensex up 573 points on broad sector buying.
* Nifty Bank index reaches record high; midcap and smallcap indices outperform
* Nearly 180 stocks hit 52-week highs; FMCG sector declines 1%

Indian markets closed higher on January 2, with Nifty hitting a record 26,340 intraday and Sensex up 573 points. Broader indices outperformed, and most sectors gained except FMCG. Nearly 180 stocks hit 52-week highs, led by Coal India and NTPC.

shorts/business/taking-stock-nifty-ends-at-new-record-high-sensex-up-573-pts-auto-realty-financials-shine

* Nifty hits record high, Sensex up 573 points on broad sector buying.
* Nifty Bank index reaches record high; midcap and smallcap indices outperform
* Nearly 180 stocks hit 52-week highs; FMCG sector declines 1%

The Indian benchmarks ended higher on January 2 with Nifty recorded fresh all-time high of 26,340, intraday, led by buying across the sectors barring FMCG. At close, the Sensex gained 573.41 points or 0.67 percent at 85,762.01, while the Nifty rose 182 points or 0.70 percent at 26,328.55.

Broader indices outperformed the main indices with Nifty midcap hitting new high, adding 1 percent, while Nifty smallcap index rose 0.7%.

In this week, BSE Sensex and Nfity50 added a percent each, extending the gains for the second consecutive week.

Nifty Bank index also hits fresh record high of 60,203.75, intraday.

Also Read: <a href="https://www.moneycontrol.com/news/business/ipo/retail-investors-primary-market-investments-hit-record-rs-34-840-crore-in-fy26-so-far-13753267.html">Retail investors’ primary-market investments hit record Rs 34,840 crore in FY26 so far</a>

Coal India, NTPC, Hindalco, Trent, Jio Financial were among top gainers on the Nifty, while losers were ITC, Nestle, Axis Bank, Kotak Mahindra Bank, Shriram Finance.

Except FMCG (down 1%), all other sectoral indices ended in the green with auto, metal, capital goods, media, realty, consumer durables, power, PSU rose 1-2%.

Also Read - <a href="https://www.moneycontrol.com/news/business/moneycontrol-research/is-itc-a-good-buy-post-correction-triggered-by-the-tax-shock-13754091.html">Is ITC a good buy, post correction triggered by the tax shock?</a>

In stocks, ITC shares fell 4% as Morgan Stanley downgrades to ‘equal-weight’, Sapphire Foods shed 3% on merger news with Devyani International, TVS Motor Company hits 52-week high after total sales jump 50% in December, Hero MotoCorp share price added 2% on better December sales data, Indian Bank shares rose 3% after Q3 total business up 13%, Punjab &amp; Sind Bank and Indian Bank share jumped 3-5% after strong Q3 business numbers.

Also Read - <a href="https://www.moneycontrol.com/news/business/indian-rupee-in-2026-bears-may-rest-a-bit-but-cautious-approach-may-stay-13754359.html">Indian rupee in 2026: Bears may rest a bit, but cautious approach may stay</a>

Nearly 180 stocks hit 52-week high, including IDBI Bank, Coal India, Aether Industries, NALCO, IIFL Finance, Ashok Leyland, Hindalco Industries, Craftsman, BHEL, TVS Motor, Indus Towers, Adani Energy, Maruti Suzuki, Phoenix Mills, Graphite India, 3M India, M&amp;M, Bank of Baroda, MCX India, among others. <a href="https://www.moneycontrol.com/stocks/market-stats/52-week-high-bse/?indexName=BSE%2520500&amp;id=12#google_vignette">Click to View More</a>

Outlook for January 5

Rupak De, Senior Technical Analyst at LKP Securities

The index has broken above its previous swing high, reinforcing a positive trend bias. The bullish crossover of the 20 EMA and 50 EMA further strengthens the upward structure. Additionally, the daily RSI has broken out of its prior consolidation phase, signalling a pickup in momentum.

The trend is expected to remain firm in the near to short term, with a buy-on-dips approach favoring the bulls as long as the index sustains above 26,000. On the upside, a decisive move above 26,350 could open the door for an advance towards 26,600 in the short term.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

Nifty witnessed sharp breakout on Friday and surpassed the crucial hurdles of around 26200-26300 levels and zoomed into new all-time highs at 26340. After opening on a positive note, the market continued to move up in the early to mid-part of the session. Minor dip was seen towards the end and Nifty bounced back subsequently and closed at the highs.

A long bull candle was formed on the daily chart which indicates a decisive break out of the recent consolidation movement. This is positive development and one may expect this upside momentum to continue for the short term.

The underlying trend of Nifty is sharply up. The next upside target to be watched for the next 1-2 weeks is around 26750 (61.8% Fibonacci Extension-taken from the swings of April low-June high and Aug low). Immediate support is placed at 26200.

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: Nifty ends at new record high, Sensex up 573 pts; auto, realty, financials shine

The Indian benchmarks ended higher on January 2 with Nifty recorded fresh all-time high of 26,340, intraday, led by buying across the sectors barring FMCG. At close, the Sensex gained 573.41 points or 0.67 percent at 85,762.01, while the Nifty rose 182 points or 0.70 percent at 26,328.55.

Broader indices outperformed the main indices with Nifty midcap hitting new high, adding 1 percent, while Nifty smallcap index rose 0.7%.

In this week, BSE Sensex and Nfity50 added a percent each, extending the gains for the second consecutive week.

Nifty Bank index also hits fresh record high of 60,203.75, intraday.

Also Read: Retail investors’ primary-market investments hit record Rs 34,840 crore in FY26 so far

Coal India, NTPC, Hindalco, Trent, Jio Financial were among top gainers on the Nifty, while losers were ITC, Nestle, Axis Bank, Kotak Mahindra Bank, Shriram Finance.

Except FMCG (down 1%), all other sectoral indices ended in the green with auto, metal, capital goods, media, realty, consumer durables, power, PSU rose 1-2%.

Also Read - Is ITC a good buy, post correction triggered by the tax shock?

In stocks, ITC shares fell 4% as Morgan Stanley downgrades to ‘equal-weight’, Sapphire Foods shed 3% on merger news with Devyani International, TVS Motor Company hits 52-week high after total sales jump 50% in December, Hero MotoCorp share price added 2% on better December sales data, Indian Bank shares rose 3% after Q3 total business up 13%, Punjab &amp;amp; Sind Bank and Indian Bank share jumped 3-5% after strong Q3 business numbers.

Also Read - Indian rupee in 2026: Bears may rest a bit, but cautious approach may stay

Nearly 180 stocks hit 52-week high, including IDBI Bank, Coal India, Aether Industries, NALCO, IIFL Finance, Ashok Leyland, Hindalco Industries, Craftsman, BHEL, TVS Motor, Indus Towers, Adani Energy, Maruti Suzuki, Phoenix Mills, Graphite India, 3M India, M&amp;amp;M, Bank of Baroda, MCX India, among others. Click to View More

Outlook for January 5

Rupak De, Senior Technical Analyst at LKP Securities

The index has broken above its previous swing high, reinforcing a positive trend bias. The bullish crossover of the 20 EMA and 50 EMA further strengthens the upward structure. Additionally, the daily RSI has broken out of its prior consolidation phase, signalling a pickup in momentum.

The trend is expected to remain firm in the near to short term, with a buy-on-dips approach favoring the bulls as long as the index sustains above 26,000. On the upside, a decisive move above 26,350 could open the door for an advance towards 26,600 in the short term.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

Nifty witnessed sharp breakout on Friday and surpassed the crucial hurdles of around 26200-26300 levels and zoomed into new all-time highs at 26340. After opening on a positive note, the market continued to move up in the early to mid-part of the session. Minor dip was seen towards the end and Nifty bounced back subsequently and closed at the highs.

A long bull candle was formed on the daily chart which indicates a decisive break out of the recent consolidation movement. This is positive development and one may expect this upside momentum to continue for the short term.

The underlying trend of Nifty is sharply up. The next upside target to be watched for the next 1-2 weeks is around 26750 (61.8% Fibonacci Extension-taken from the swings of April low-June high and Aug low). Immediate support is placed at 26200.

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 rose, tracking firm global cues and buying in large-cap stocks., Hindalco, Coal India, Bharat Electronics rose; ITC, Bajaj Auto fell., Nifty Auto index up for fourth session as December sales data boosts sentiment.

* Sensex and Nifty rose, tracking firm global cues and buying in large-cap stocks.
* Hindalco, Coal India, Bharat Electronics rose; ITC, Bajaj Auto fell.
* Nifty Auto index up for fourth session as December sales data boosts sentiment.

Sensex and Nifty rose on Friday, driven by positive global cues, buying in large-cap and auto stocks, steady domestic institutional inflows, and a stronger rupee. Hindalco, Coal India led gains, while ITC and Bajaj Auto were top losers. Market breadth was positive.

shorts/business/sensex-rises-300-pts-nifty-near-26-250-positive-global-cues-among-key-factors-behind-market-rise

* Sensex and Nifty rose, tracking firm global cues and buying in large-cap stocks.
* Hindalco, Coal India, Bharat Electronics rose; ITC, Bajaj Auto fell.
* Nifty Auto index up for fourth session as December sales data boosts sentiment.

The benchmark equity indices Sensex and Nifty settled higher on Friday, tracking firm global cues and strong buying interest in banking and metal shares.

The Sensex climbed 573.41 points or 0.67 percent to settle at 85,762.01. During the day, it jumped 623.67 points or 0.73 percent to 85,812.27.

The Nifty went up by 182 points or 0.7 percent to 26,328.55. During the day, it surged 193.45 points or 0.73 percent to reach an all-time peak of 26,340.

&nbsp;

<a href="https://www.moneycontrol.com/india/stockpricequote/ironsteel/hindalcoindustries/HI" target="_blank">Hindalco Industries</a>, Coal India and Bharat Electronics were the top gainers in the Nifty50 pack, rising up to 2 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/diversified/itc/ITC" target="_blank">ITC</a> and Bajaj Auto were the major laggards, declining up to 4 percent. Market breadth was positive as about 2183 shares advanced, 1204 shares declined and 165 shares unchanged.

"We expect earnings to beat, the RBI to keep its foot on deregulation, more reforms from the government and a potential trade deal with the U.S. in this quarter," Ridham Desai and Nayant Parekh, equity strategists at Morgan Stanley India in a note on Friday, reported Reuters.
<h3>Key factors behind market rise</h3>
1) Positive global cues: In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite and Hong Kong’s Hang Seng were trading in the positive territory. US futures were also higher by up to 0.7 percent, indicating a firm start for the Wall Street later in the day.

2) Buying in large-caps: Buying was seen in large-cap stocks, with Reliance Industries gaining nearly 1 percent for the second consecutive session.

"The monthly sales data from auto companies as well as business updates from other sectors signal a likely improvement in December quarter earnings, lifting markets...," G Chokkalingam, founder and head of research at Mumbai-based Equinomics Research told Reuters.
<h3><a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-start-asian-markets-gain-liveblog-13753233.html" target="_blank">Stock Market LIVE Updates</a></h3>
3) Steady purchase by DIIs: A steady purchases by domestic institutional investors supported the market.

"Steady domestic institutional inflows continue to provide broader support, helping offset aggressive selling by foreign investors," Ponmudi R, CEO of Enrich Money, said.

A positive earnings season, followed by a favourable union budget and a potential trade agreement with the U.S., will act as the triggers to lift markets higher after the consolidation in 2025, Chokkalingam told Reuters.

4) Rupee rises: In the currency market, the rupee traded in a narrow range in the morning session and appreciated by 6 paise to 89.92 against the US dollar. Forex traders said the USD/INR pair is expected to remain range-bound as the 90 level is being protected by the Reserve Bank of India, even as positive domestic equities were offset by sustained foreign fund outflows.

5) Buying in auto shares: Auto shares extended their gains as companies began releasing their December sales numbers. The Nifty Auto index rose nearly 1 percent, marking its fourth straight session of gains.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said "The impressive 25.8 % YoY increase in passenger vehicles sales in December bodes well for the auto industry. More importantly, this data confirms the growth momentum in the economy. It has to be watched whether this growth sustains, albeit at a slower pace, going forward. It is hugely important that the growth momentum in the economy sustains, because that alone can ensure the much needed earnings growth that the market needs to remain resilient and gradually move up."

6) Buying in Bank shares: Bank shares attracted strong buying interest on Friday after positive business updates for the December quarter, lifting the Bank Nifty index to a fresh record high. The Bank Nifty rose 0.73 percent to hit an all-time high of 60,152.35, surpassing its previous peak of 60,114.30 recorded on December 1, 2025. The Nifty PSU Bank index advanced 1.08 percent, while the Nifty Private Bank index gained 0.56 percent. Both indices touched fresh lifetime highs during the session.
<h3>Technical Analysis</h3>
Ajit Mishra – SVP, Research at Religare Broking, noted "As anticipated, the Nifty has decisively crossed the key resistance at 26,200 and moved to a fresh record high. The prevailing trend remains positive, with the index now poised to gradually test the 26,500–26,700 zone in the near term."

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.

Nifty settles at record high, Sensex closes 550 pts higher: 6 key factors behind market rally

Stock Market Today: Nifty settles at record high, Sensex closes 550 pts higher: 6 key factors behind market rally

The benchmark equity indices Sensex and Nifty settled higher on Friday, tracking firm global cues and strong buying interest in banking and metal shares.

The Sensex climbed 573.41 points or 0.67 percent to settle at 85,762.01. During the day, it jumped 623.67 points or 0.73 percent to 85,812.27.

The Nifty went up by 182 points or 0.7 percent to 26,328.55. During the day, it surged 193.45 points or 0.73 percent to reach an all-time peak of 26,340.

&amp;nbsp;

Hindalco Industries, Coal India and Bharat Electronics were the top gainers in the Nifty50 pack, rising up to 2 percent, while ITC and Bajaj Auto were the major laggards, declining up to 4 percent. Market breadth was positive as about 2183 shares advanced, 1204 shares declined and 165 shares unchanged.

&quot;We expect earnings to beat, the RBI to keep its foot on deregulation, more reforms from the government and a potential trade deal with the U.S. in this quarter,&quot; Ridham Desai and Nayant Parekh, equity strategists at Morgan Stanley India in a note on Friday, reported Reuters.
Key factors behind market rise
1) Positive global cues: In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite and Hong Kong’s Hang Seng were trading in the positive territory. US futures were also higher by up to 0.7 percent, indicating a firm start for the Wall Street later in the day.

2) Buying in large-caps: Buying was seen in large-cap stocks, with Reliance Industries gaining nearly 1 percent for the second consecutive session.

&quot;The monthly sales data from auto companies as well as business updates from other sectors signal a likely improvement in December quarter earnings, lifting markets...,&quot; G Chokkalingam, founder and head of research at Mumbai-based Equinomics Research told Reuters.
Stock Market LIVE Updates
3) Steady purchase by DIIs: A steady purchases by domestic institutional investors supported the market.

&quot;Steady domestic institutional inflows continue to provide broader support, helping offset aggressive selling by foreign investors,&quot; Ponmudi R, CEO of Enrich Money, said.

A positive earnings season, followed by a favourable union budget and a potential trade agreement with the U.S., will act as the triggers to lift markets higher after the consolidation in 2025, Chokkalingam told Reuters.

4) Rupee rises: In the currency market, the rupee traded in a narrow range in the morning session and appreciated by 6 paise to 89.92 against the US dollar. Forex traders said the USD/INR pair is expected to remain range-bound as the 90 level is being protected by the Reserve Bank of India, even as positive domestic equities were offset by sustained foreign fund outflows.

5) Buying in auto shares: Auto shares extended their gains as companies began releasing their December sales numbers. The Nifty Auto index rose nearly 1 percent, marking its fourth straight session of gains.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said &quot;The impressive 25.8 % YoY increase in passenger vehicles sales in December bodes well for the auto industry. More importantly, this data confirms the growth momentum in the economy. It has to be watched whether this growth sustains, albeit at a slower pace, going forward. It is hugely important that the growth momentum in the economy sustains, because that alone can ensure the much needed earnings growth that the market needs to remain resilient and gradually move up.&quot;

6) Buying in Bank shares: Bank shares attracted strong buying interest on Friday after positive business updates for the December quarter, lifting the Bank Nifty index to a fresh record high. The Bank Nifty rose 0.73 percent to hit an all-time high of 60,152.35, surpassing its previous peak of 60,114.30 recorded on December 1, 2025. The Nifty PSU Bank index advanced 1.08 percent, while the Nifty Private Bank index gained 0.56 percent. Both indices touched fresh lifetime highs during the session.
Technical Analysis
Ajit Mishra – SVP, Research at Religare Broking, noted &quot;As anticipated, the Nifty has decisively crossed the key resistance at 26,200 and moved to a fresh record high. The prevailing trend remains positive, with the index now poised to gradually test the 26,500–26,700 zone in the near term.&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.

11 out of 18 years NIFTY 50 has given negative returns in January.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	26,406.23	26,483.92	26,627.83	26,262.32	26,184.63	26,040.72	25,963.03
Fibonacci	26,346.97	26,399.27	26,483.92	26,262.32	26,177.67	26,125.37	26,040.72
Camarilla	26,348.86	26,369.18	26,389.49	26,262.32	26,308.24	26,287.92	26,267.61

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