Markets surged to record highs on January 02, 2026, driven by broad-based sectoral gains, a strong corporate earnings outlook, and positive global sentiment.

Key Themes & Picks

• Indices hit record highs on broad-based banking, metal, and auto gains.

• Corporate earnings optimism and domestic demand fuel the rally.

• FMCG lags, with ITC pressured by excise duty hike fears.

• Banking and metals sectors lead the bullish momentum.

• Regulatory risks emerge as a key sectoral differentiator.

Markets began 2026 on a muted note with indices little changed, as low holiday volumes and mixed sectoral trends defined the session.

Key Themes & Picks

• A flat-to-positive open is indicated for the next session.

• Auto and banking sectors lead on strong sales and credit growth.

• FMCG faces pressure from tobacco excise hikes impacting ITC.

• Key picks: Canara Bank, Nykaa, and select auto ancillaries.

• Subdued activity persists amid a constructive broader 2026 outlook.

• Markets flat on New Year holiday; Sensex down slightly, Nifty up slightly

• ITC and FMCG stocks plunge on tobacco excise duty hike

• Auto stocks gain on strong December sales data

• Vodafone Idea up on major promoter funding, AGR relief

• Adani Group advances in defence and renewables

• Global trade uncertainty persists with US tariff delays