Indian equity markets extended their winning run on January 2, buoyed by broad-based buying and rising optimism ahead of the December-quarter earnings season. Benchmark indices closed at fresh highs, supported by positive global cues, strong automobile sales data, and renewed investor confidence at the start of 2026.
The Sensex rose 573 points, or 0.67 percent, to close at 85,762.01. The Nifty 50 touched an all-time intraday high of 26,340 before settling at a record closing level of 26,328.55, up 182 points, or 0.70 percent. The BSE Midcap index advanced 0.97 percent, while the Smallcap index gained 0.79 percent.
Overall market capitalisation of BSE-listed companies increased by over ₹4 lakh crore in a single session, taking total valuation beyond ₹481 lakh crore.
Why did the market rise?
Strong buying across sectors, expectations of a healthy Q3 earnings season, positive global market trends, and robust December automobile sales lifted sentiment. Investors are also hopeful of improved earnings growth, progress on an India–US trade deal, and a return of foreign institutional investors in 2026.
Nifty 50 top gainers
Coal India rose 7.15 percent, NTPC gained 4.56 percent, and Hindalco Industries climbed 3.53 percent, emerging as the top performers in the index.
Nifty 50 top losers
ITC declined 3.78 percent, followed by Kotak Mahindra Bank, down 1.26 percent, and Nestle India, lower by 1.13 percent.
Sectoral performance
All sectoral indices ended higher except FMCG, which slipped 1.19 percent. Realty, PSU Bank, Metal, Consumer Durables, and Auto indices rose more than 1 percent each.
Bank stocks
The Nifty Bank index touched a record high of 60,203.75 during the session and ended 0.74 percent higher at 60,150.95.
Most active stocks by volume
Vodafone Idea, Ola Electric Mobility, and Filatex Fashions were the most actively traded stocks on the NSE in terms of volume.
Stocks surging over 15 percent
Ten stocks jumped more than 15 percent on the BSE, including Robust Hotels, Naksh Precious Metals, and Shalimar Paints.
Market breadth
Out of 4,371 stocks traded on the BSE, 2,772 advanced, 1,449 declined, and 150 remained unchanged, reflecting strong market breadth.
New 52-week highs and lows
A total of 185 stocks, including Reliance Industries, SBI, Maruti Suzuki, Mahindra and Mahindra, and L&T, hit 52-week highs. Meanwhile, 83 stocks, including ITC and AAVAS Financiers, touched 52-week lows.
Technical outlook for Nifty
Analysts see key support levels at 26,250 and 26,100. As long as the index remains above these levels, bullish momentum is expected to continue, with upside targets in the 26,500–26,700 range in the near term.
(By arrangement with livemint.com)