Similarly, the Nifty Bank lend the support to benchmarks and touched a new all-time high of 60,203.75 during the session, settling 440 points or 0.74% higher at 60,150. The mid- and small-cap stocks also closed the trade in the green. The BSE Midcap finished 458 points or 0.97% higher at 47,539. However, the BSE Smallcap finished 405 points or 0.79% higher at 51,920.
Top stocks to Buy in January 2026: 15 picks by Axis Securities with up to 54% upside potential
“The Nifty extended its uptrend for the third consecutive session, breaking out of a symmetrical triangle pattern on the daily chart. It touched a fresh all-time high of 26,340, aided by broad-based short covering. The MACD has generated a fresh buy crossover on the daily timeframe, while the RSI has moved above the 60 mark, signaling strengthening momentum,” said Nilesh Jain, Head of Technical and Derivatives Research Analyst at Centrum Broking.“The index is trading above all key short- and long-term moving averages, keeping the broader trend firmly positive. With the base now shifting higher to the 26,100 zone, the upside appears open towards 26,500 levels in the near term,” added Jain.
Sentiment was supported by positive sector-specific developments, particularly stronger auto sales trends and an improving demand outlook across cyclical sectors, said Ajit Mishra, Senior Vice President of Research at Religare Broking. “Select index heavyweights provided additional support, enabling the market to sustain its upward momentum despite the absence of strong global triggers, as several overseas markets remained closed due to holidays. Meanwhile, continued weakness in tobacco-related stocks weighed on the FMCG space following recent tax-related developments.”
Indices in intraday trade
The indices closed the trade on a lower note. During the session, out of 3,246 trading stocks, 2,247 advanced, while 895 declined, and 104 remained unchanged. Today, 101 stocks hit a fresh 52-week high. Meanwhile, 50 stocks touched a new 52-week low.
Top gainers
Coal India was the top gainer in the Nifty 50 in Friday’s session, closing 7.15% higher. It was followed by #NTPC, Hindalco Industries, Trent, and State Bank of India.
Top losers
ITC shares were the biggest losers in today’s trade, falling 3.8%. It was followed by Kotak Mahindra Bank, Nestle India, Shriram Finance, and Bajaj Auto were the only losers.
It has been a historic start to the year for the Indian stock market. On Friday, January 2, 2026, benchmark indices scaled new heights, driven by a broad-based rally across banking, power, and metal sectors.
Here is the closing summary for the day:
Market Snapshot (Closing: Jan 2, 2026)
| Index | Closing Price | Change (Points) | Change (%) |
| Nifty 50 | 26,328.55 | +182.00 | +0.70% |
| Sensex | 85,762.01 | +573.41 | +0.67% |
| Bank Nifty | 60,150.95 | +439.40 | +0.74% |
Key Highlights of the Rally
Historic Milestones: The Nifty 50 touched an intraday lifetime high of 26,340, while the Bank Nifty crossed the psychological 60,000 mark for the first time, hitting an intraday peak of 60,152.
2 Sectoral Performance: * Top Gainers: The rally was led by Metals (+1.4%), Auto (+1.2%), and PSU Banks.
Top Losers: The FMCG sector was the only major laggard, primarily dragged down by ITC, which fell nearly 4% following recent excise duty hike concerns.
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Corporate Drivers: Coal India surged over 7% after opening its e-auctions to foreign buyers, and NTPC gained 4.6% on news of nuclear power collaborations with international firms (Rosatom and EDF).
4 Currency: The Indian Rupee (INR) showed slight weakness, closing at 90.20 against the US Dollar, influenced by global dollar strength.
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Factors Fueling the Surge
Domestic Inflows: Persistent buying by Domestic Institutional Investors (DIIs) offset selling by Foreign Institutional Investors (FIIs).
6 Global Cues: Positive sentiment in Asian markets (specifically South Korea and Hong Kong) provided a supportive backdrop.
7 Budget Anticipation: Investors are positioning ahead of the upcoming Union Budget 2026, with expectations of growth-oriented reforms.
8 Strong Sales Data: Robust December auto sales figures boosted confidence in consumer demand.
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Would you like a deeper look at the top-performing stocks of the week, or are you interested in the latest pre-budget predictions from market analysts?
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