Indian equity markets continued their upward momentum on Friday, January 2, 2026, with benchmark indices extending gains in afternoon trade. Strong buying interest in PSU stocks, metals, and financials pushed the Nifty 50 above the 26,300 mark, reflecting a firm risk-on sentiment at the start of the new year. Select FMCG and banking stocks, however, witnessed profit booking.
Also Read: Indian Equity Markets Rally as Nifty Reclaims 26,250; Financials, Metals and PSU Stocks Lead Gains
Benchmark Indices: Nifty Trades Near Day’s High
The Nifty 50 was trading at 26,302.65, up 156.10 points or 0.60%, at the time of the update. The index opened at 26,155.10, touched an intraday high of 26,314.55, and slipped to a low of 26,118.40, indicating sustained strength through the session.
Broader markets and sectoral indices outperformed:
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Nifty Next 50 jumped 0.90%, pointing to broad-based participation.
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Nifty Financial Services gained 0.79%, supported by strength in financial stocks. -
Nifty Bank rose 0.66%, aided by selective buying in banking counters.
Nifty Financial Services gained 0.79%, supported by strength in financial stocks.
Top Gainers: Coal, Power and Metal Stocks Lead
Several stocks posted sharp gains, supported by strong volumes and sectoral momentum.
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Coal India surged 5.94% to ₹424.25, emerging as the top gainer amid heavy buying in PSU stocks.
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NTPC advanced 3.85% to ₹349.25, tracking strength in the power sector.
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Hindalco Industries gained 3.20% to ₹923.60, extending its rally in metal stocks.
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Trent rose 3.01% to ₹4,426.70, continuing its strong performance in consumption-led stocks.
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Jio Financial Services added 2.08% to ₹301.85, contributing to gains in the financial services space.
Hindalco Industries gained 3.20% to ₹923.60, extending its rally in metal stocks.Top Losers: FMCG and Select Banking Stocks See Selling
On the downside, profit booking was visible in select FMCG and banking stocks.
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ITC declined 3.90% to ₹349.65, emerging as the top laggard despite high trading volumes.
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Nestlé India slipped 0.97% to ₹1,282.40, reflecting selling pressure in FMCG majors.
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Shriram Finance fell 0.62% to ₹1,013.35, amid selective weakness in financial stocks.
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Tata Consumer Products eased 0.49% to ₹1,171.10, extending mild losses.
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Axis Bank declined 0.49% to ₹1,268.10, trimming some of the sectoral gains.
Tata Consumer Products eased 0.49% to ₹1,171.10, extending mild losses.Market Outlook: Indian equity markets
The ongoing rally highlights strong investor confidence, driven by buying in PSU, metal, and power stocks. While FMCG and select banking stocks faced profit booking, the broader market strength suggests positive momentum could continue in the near term.
Conclusion
Indian equity markets extended their gains with the Nifty 50 trading above 26,300, supported by strong performance in PSU, power, and metal stocks. Despite weakness in select FMCG and banking counters, the overall tone remains positive, signalling a robust start to 2026 for domestic equities.
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