Indian equity markets closed on a firm note on Friday, January 2, 2026, extending gains for the third consecutive session. Strong buying interest in PSU stocks, metals, power and banking counters propelled benchmark indices higher, with the Nifty 50 settling above the 26,300 mark. Broad-based participation across sectors reflected improving investor confidence at the start of the new calendar year, even as select FMCG and auto stocks witnessed profit booking.
Also Read: Indian Equity Markets Extend Rally as Nifty Tops 26,300; PSU, Metals and Financials Power Gains
Benchmark Indices: Nifty Ends at Record Territory
The Nifty 50 closed at 26,328.55, gaining 182.00 points or 0.70%. The index opened at 26,155.10, touched an intraday high of 26,340.00, and recorded a low of 26,118.40, indicating sustained buying throughout the session.
Other key indices also posted solid gains:
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Nifty Next 50 surged 1.06%, highlighting strength in broader market stocks.
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Nifty Financial Services rose 0.84%, supported by banking and financial majors. -
Nifty Bank advanced 0.74%, led by PSU banks and select private lenders.
Nifty Financial Services rose 0.84%, supported by banking and financial majors.
Top Gainers: PSU, Power and Metal Stocks Outperform
Heavy buying in PSU and metal stocks drove the market higher, with several stocks posting strong gains.
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Coal India rallied 7.15% to ₹429.10, emerging as the top gainer amid strong volumes and PSU-led buying.
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NTPC jumped 4.56% to ₹351.65, supported by renewed interest in power sector stocks.
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Hindalco Industries gained 3.53% to ₹926.50, extending its rally in metal counters.
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Trent advanced 2.39% to ₹4,400.00, continuing its strong performance in consumption-driven stocks.
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State Bank of India (SBI) rose 2.12% to ₹1,005.65, lending significant support to the banking index.
Hindalco Industries gained 3.53% to ₹926.50, extending its rally in metal counters.Top Losers: FMCG, Auto and Private Banks See Profit Booking
Despite the broader rally, select stocks faced selling pressure as investors booked profits.
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ITC declined 3.78% to ₹350.10, emerging as the biggest laggard amid heavy trading volumes.
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Kotak Mahindra Bank slipped 1.26% to ₹2,189.90, weighing slightly on banking gains.
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Nestlé India fell 1.13% to ₹1,280.40, reflecting weakness in FMCG stocks.
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Shriram Finance eased 0.94% to ₹1,010.10, despite overall strength in financials.
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Bajaj Auto declined 0.62% to ₹9,499.00, tracking mild selling in auto counters.
Nestlé India fell 1.13% to ₹1,280.40, reflecting weakness in FMCG stocks.Market Outlook: Indian equity markets
The session underscored a strong risk-on sentiment, with investors favouring PSU, metal, power, and banking stocks. While FMCG and auto stocks witnessed profit booking, the overall market breadth remained positive, suggesting momentum could persist in the near term.
Conclusion
Indian equity markets ended the session on a robust note, with the Nifty 50 closing above 26,300, driven by strong gains in PSU, power, metal, and banking stocks. Despite selective selling in FMCG and auto names, the broader market strength signals a confident and upbeat start to 2026 for domestic equities.
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