The Indian stock market ended the day on a high note on Jan 2, with the Nifty hitting a fresh all‑time high of 26,340 points.
Market Summary
The Nifty closed at 26,328.55, up about 0.7%, while the Sensex rose 573 points to finish at 85,762.01, a gain of 0.67%.
Mid‑cap and small‑cap indices also reached new peaks, with the Nifty Midcap up 1% and the Nifty Smallcap up 0.7%.
The Nifty Bank index touched a record intraday level of 60,203.75.
Sector Performance
All sectors finished in the green except fast‑moving consumer goods (FMCG), which slipped 1%.
Auto, metal, capital goods, media, realty, consumer durables, power and PSU stocks each rose between 1% and 2%.
Top Gainers and Losers
- Coal India – strong rise
- NTPC – notable gain
- Hindalco – up significantly
- Trent – higher
- Jio Financial – among the leaders
- ITC – down 4% after a downgrade
- Nestle – fell
- Axis Bank – slipped
- Kotak Mahindra Bank – down
- Shriram Finance – lower
Notable Stock Moves
- ITC shares dropped 4% following a Morgan Stanley downgrade to “equal‑weight”.
- Sapphire Foods fell 3% after news of a merger with Devyani International.
- TVS Motor Company hit a 52‑week high after December sales jumped 50%.
- Hero MotoCorp rose 2% on better‑than‑expected December sales.
- Indian Bank gained 3% after reporting a 13% rise in total business for Q3.
- Punjab & Sind Bank and Indian Bank each jumped 3‑5% on strong Q3 numbers.
Broad Market Strength
Nearly 180 stocks touched their 52‑week highs, including major names such as IDBI Bank, Coal India, Aether Industries, NALCO, IIFL Finance, Ashok Leyland, Hindalco Industries, BHEL, TVS Motor, Indus Towers, Adani Energy, Maruti Suzuki, Phoenix Mills, Graphite India, 3M India, M&M, Bank of Baroda, MCX India, and many others.
Technical Outlook for Early January
Analysts see the market staying bullish in the short term. Key points:
- Support level around 26,000.
- If the Nifty stays above 26,350, it could climb toward 26,600.
- Some analysts target 26,750 in the next one to two weeks.
- Positive momentum is backed by a bullish crossover of short‑term moving averages and a rising RSI.
Remember, this overview is not a prediction. Do your own research before making any investment decisions.