The Indian equity market started 2026 on a calm note, with the Nifty stuck around 26,200 after a short burst of buying.
Market Snapshot
At the close, the Sensex slipped 32 points (down 0.04%) to 85,188.60, while the Nifty rose slightly by 17 points (up 0.06%) to 26,146.55. The BSE mid‑cap index gained 0.3%, and the small‑cap index ended flat.
Trading was tight throughout the day, moving in a narrow band of about 85 points. Early gains gave way to profit‑taking, leaving the market almost unchanged.
Top Gainers and Losers
- Gainers: Eternal, NTPC, Bajaj Auto, Shriram Finance, Wipro
- Losers: ITC, Bajaj Finance, Dr. Reddy's Labs, ONGC, Tata Consumer
Sector Performance
- FMCG fell about 3%
- Pharma down 0.4%
- Auto, IT, Metal, Power, Telecom and PSU Banks rose between 0.4% and 1.5%
Notable Stock Moves
- Blue Dart Express +2.5% after tax demand fell
- Jindal Poly Films –2% on Q2 loss report
- ITC –9% and Godfrey Phillips –17% as a new excise duty on cigarettes was announced
- Escorts Kubota +2% with tractor sales up 38.5%
- Vodafone Idea +8% after a deal with Vodafone Group
- SML Mahindra +3% on a 67% sales jump
- Steel Strips Wheels +8% after a 22% sales rise
Stocks Hitting 52‑Week Highs
More than 130 stocks touched their 52‑week highs, including major names such as Ashok Leyland, Adani Energy, Bank of Maharashtra, TVS Motor, Shriram Finance, L&T Finance, Reliance Industries, Titan, Hindalco, HPCL, BPCL, and Indus Towers.
Analyst Outlook
Nagaraj Shetti (HDFC Securities): After a sharp rise on Wednesday, the Nifty traded in a tight range today. He expects the index to break above the 26,200 level in the next couple of sessions, aiming for 26,300‑26,400.
Sudeep Shah (SBI Securities): The narrow 84‑point range signals indecision. The 26,200‑26,240 zone is a key hurdle; a clean move above could spark a rally to 26,400, while support sits around 26,000‑26,030.
Takeaway
Today's market showed limited enthusiasm, but technical signals suggest the Nifty could push higher if it clears the 26,200 barrier. Keep an eye on sector trends and any fresh news that might tip the balance.
Disclaimer
Remember, this is just a perspective, not a prediction. Do your own research or consult a certified advisor before making any investment decisions.