Markets opened the first trading session of 2026 on a cautiously optimistic note, with the Sensex rising 85.24 points or 0.10 per cent to ₹85,305.84 and the Nifty gaining 30.65 points or 0.12 per cent to ₹26,160.25 as of 10 am on Wednesday. The Sensex had closed at ₹85,220.60 on the previous trading day and opened at ₹85,255.55, while the Nifty closed at ₹26,129.60 and opened at ₹26,173.30.
Market participants attributed the muted opening to thin liquidity, with most major international markets including the US, Europe and several Asian bourses remaining closed for New Year’s Day. “Indian equity markets step into the first trading session of 2026 on a cautiously optimistic note, set against a globally quiet backdrop,” said Ponmudi R, CEO of Enrich Money. “With the US, Europe, and several Asian markets shut, global cues are limited and early liquidity is expected to remain thin.”
Among the top gainers on the Nifty50, Adani Enterprises led with a 1.84 per cent rise to ₹2,281.00, followed by Eicher Motors which gained 1.49 per cent to ₹282.20. Mahindra & Mahindra climbed 1.17 per cent to ₹3,752.50, while Adani Ports advanced 1.14 per cent to ₹1,486.50 and NTPC rose 1.09 per cent to ₹333.15.
On the losing side, ITC witnessed the steepest decline, falling 5.56 per cent to ₹380.60. Dr Reddy’s Laboratories dropped 1.40 per cent to ₹1,253.60, Bharat Electronics declined 0.73 per cent to ₹396.70, Tata Consumer Products shed 0.70 per cent to ₹1,183.70, and Hindustan Unilever fell 0.55 per cent to ₹2,303.10.
Technical analysts maintained a constructive outlook for the session. “Nifty is poised to open with a mild positive bias around the 26,100–26,150 zone,” said Ponmudi R. “The index has clearly resumed its higher-high, higher-low structure on the daily chart, with the latest bullish candle decisively reclaiming the 20-day EMA near 26,001.”
Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted that the benchmark indices had bounced back sharply in the previous session. “The Nifty closed 190 points higher, while the Sensex was up 545 points,” he said. “Technically, on the daily charts, the index has formed a strong reversal pattern.”
Sectoral performance remained mixed in early trade. The Oil & Gas index had performed better in the previous session, gaining 2.60 per cent, while the Digital index fell 0.40 per cent. “On the sectoral front, automobile stocks will remain in focus as companies begin reporting December sales numbers,” Ponmujson R added. “The data will be key in assessing whether the strong demand traction seen after the recent GST rationalisation is being sustained.”
Foreign Institutional Investors continued their selling streak, offloading equities worth ₹3,597 crore on December 31 for the fifth consecutive session. However, Domestic Institutional Investors provided strong support by purchasing equities worth ₹6,759 crore on the same day.
Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments, emphasised the importance of valuations for 2026. “In the initial phase of 2026, the returns from the market will be low,” he said. “A good rally will happen only when earnings indicate a good uptick and FIIs turn buyers in India.”
Prashanth Tapse, Senior VP (Research) at Mehta Equities, highlighted specific stock movements. “In stocks, Vodafone Idea slipped sharply despite AGR relief, while Bharat Forge gained on a ₹1,661.9 crore defence order,” he said.
Published on January 1, 2026
