Indian equity markets are set to begin 2026 on a positive note, with GIFT Nifty indicating a firm opening, even as global cues remain mixed due to a Wall Street holiday.
🔔 Market Setup at Open
GIFT Nifty signals a positive start for domestic equities
Asian markets trade higher; Hang Seng and Kospi up ~1%
Wall Street closed for New Year holiday
Gold rallies to $4,350/oz, silver starts 2026 strong
Crude oil edges higher, natural gas hits a 10-week low
Dollar weakens after steepest annual fall in 8 years
📌 Stocks to Watch Today (January 2)
🔴 Vodafone Idea
Receives GST penalty order of ₹637.9 crore from Ahmedabad CGST authority
Company to challenge the order legally
🟢 Banking Stocks in Focus (Q3 Updates)
Indian Bank
Total business up 13.4% YoY to ₹14.30 lakh crore
Gross advances rise 14.5%, deposits up 12.5%
South Indian Bank
Gross advances up 11.3% YoY
Deposits rise 12.2%, CASA ratio improves to 31.84%
Punjab & Sind Bank
Total business grows 11.8% YoY
Gross advances jump 15.3%
🚗 Auto Stocks: Hero MotoCorp, TVS Motor
Auto stocks in focus amid sectoral strength and positive demand outlook for 2026
🏗️ RailTel Corporation
Stock to react on project execution momentum and PSU theme
🧪 Pharma: Aurobindo Pharma
Watch for stock-specific cues amid subdued pharma sector trend
🛢️ Time Technoplast
Receives PESO & TÜV approval to manufacture high-pressure Type-3 composite gas cylinders
🏦 MCX (Multi Commodity Exchange)
In focus as bullion prices rally sharply at the start of 2026
🟠 ITC
JPMorgan downgrades ITC to ‘Neutral’, cuts target to ₹375
Cites cigarette tax hike, pricing risks, and potential volume pressure
📊 Institutional Flow Watch
FIIs net sellers (~₹3,269 crore)
DIIs net buyers (~₹1,526 crore), providing market support
📈 Market Recap (Previous Session)
Sensex: -32 pts at 85,188
Nifty: +17 pts at 26,146
FMCG fell sharply; Auto, IT, PSU Banks, Telecom outperformed
🧠 Market Takeaway
Positive domestic cues, strong bank earnings updates, and auto sector momentum are likely to drive early gains, while stock-specific action will dominate trade amid global holiday-thinned cues.
