Indian equities kick off the session on a strong footing as benchmark indices extend gains amid supportive global cues and sector-specific action. Sensex is higher by over 350 points near 85,550, while Nifty has reclaimed the 26,250 zone and is inching closer to its record high of 26,325. Market breadth remains healthy with more than 2,200 stocks advancing, keeping sentiment upbeat despite thin holiday volumes.
Sectoral trends are clearly split. FMCG stocks are under pressure, with ITC among the key laggards after a brokerage downgrade, while metal, auto, PSU bank, media and realty stocks are driving the rally. Maruti Suzuki, Hindalco, Bharat Electronics, Asian Paints and Coal India are leading the Nifty higher, supported by positive auto sales data and steady global signals.
Midcap and smallcap indices are also trading in the green, with sharp stock-specific moves in names like Ola Electric, NALCO, Voltas and MMTC. Stay with us for stock market live updates, top gainers and losers, sector trends, breaking corporate news and expert views as the trading day unfolds.
Sapphire Foods slipped 5% after announcing its merger with Devyani International, which jumped 7%. Under the deal, Devyani will issue 177 shares for every 100 Sapphire shares, consolidating KFC and Pizza Hut operations. Meanwhile, Vodafone Idea received a Rs. 637.9 crore GST penalty order, yet the stock rose 1.38% to Rs. 11.78, hitting an intraday high of Rs. 12.04.
ITC slid 3.97% to Rs. 349.50 after Prabhudas Lilladher cut the stock to ‘reduce’ with a Rs. 348 target, hitting a 52-week low of Rs. 345.35 amid 63.88% lower volumes. KPIT Technologies eased 0.41% to Rs. 1,158.45 as Goldman Sachs maintained a ‘neutral’ stance, projecting 1.8% QoQ Q3 growth and 20.9% EBITDA margin.
CESC jumped 3.29% to Rs. 172.65, its strongest move in 10 weeks, with volumes soaring 166.14% and the stock trading 45.08% above its 52-week low. Coal India gained 3.86% to Rs. 415.80, near its 52-week high of Rs. 417.25, backed by 69.13% higher volumes and a market cap of Rs. 256,246.24 crore.
Bajaj Finance rose 1.90% to Rs. 990.70 after DAM Capital upgraded the stock to ‘buy’ with a target of Rs. 1,120, even as volumes dipped 82.22%. Thyrocare Technologies gained 2.48% to Rs. 459.05 on Phillip Securities’ ‘buy’ call with a Rs. 640 target, trading 109.3% above its 52-week low.
Aurobindo Pharma’s subsidiary, Auro Pharma, approved acquiring Khandelwal Laboratories’ non-oncology prescription formulations business for Rs. 325 crore. Shares rose 1.35% to Rs. 1,209.00, touching an intraday high of Rs. 1,212.55 and low of Rs. 1,192.80, with volumes at 10,853. The stock trades 10.38% below its 52-week high of Rs. 1,349 and 21.59% above its 52-week low.
Sandur Manganese and Iron Ores surged 3.70% to Rs. 253.55, touching a 52-week high of Rs. 266.75, with volumes at 725,084 shares, up 76.14% from the five-day average. Punjab & Sind Bank climbed 2.6% following a 9.3% rise in total deposits and a 15.25% jump in gross advances for October-December, reflecting strong banking momentum.
RailTel Corporation of India received a Letter of Acceptance from AHIDMS for a Hospital Management Information System order worth Rs. 56.71 crore. Shares rose 1% to Rs. 374.40, trading between Rs. 373.55–379.20 with volumes of 57,096, down 84.40% from the five-day average. The stock is 21.8% below its 52-week high of Rs. 478.80.
South Indian Bank’s gross advances rose 11.27% YoY to Rs. 96,765 crore, with deposits up 12.17% to Rs. 1.18 lakh crore and CASA at Rs. 37,640 crore. Shares climbed 2.16% to Rs. 38.75. Indian Bank’s total business surged 13.4% to Rs. 14.30 lakh crore, gross advances up 14.5%, deposits at Rs. 7.90 lakh crore, stock up 2.36% to Rs. 852.20.
Hyundai Motor India’s total sales rose 6.6% YoY to 58,702 units, with domestic sales at 42,416 units and exports surging 26.5% to 16,286 units. Shares fell 1.94% to Rs. 2,266.35. Bajaj Auto’s total sales grew 14% YoY to 3.69 lakh units, exports up 25% at 2 lakh units, while stock slipped 0.44% to Rs. 9,518.85.
Kolkata-based Yajur Fibres, a cottonised bast fibre producer, will open its IPO on January 7 with a price band of Rs. 168-174 per share. The company aims to raise Rs. 120.4 crore by offering 69.2 lakh fresh shares, marking its maiden public issue and creating new investment opportunities for traders and stock market investors.
Oil edged higher on 2026’s first trading day after its biggest annual loss since 2020, with Brent at $60.99 and WTI at $57.56 per barrel, both up 14 cents. Meanwhile, the U.S. dollar started soft after its sharpest 8-year drop, with the euro steady at $1.1752 and the yen near 10-month lows at 156.74 per dollar.
IDBI Bank surged 5.01% to Rs 108.95, hitting a 52-week high of Rs 109.90 as 1.13 million shares changed hands in a block, 231.13% above its five-day average. Tata Steel rose 0.58% to Rs 182.90, with 1.01 million shares traded in a block. Both stocks drew strong investor interest amid active market action.
Meera Industries approved a 1:2 stock split, turning each Rs. 10 share into 2 shares of Rs. 5 each, pending shareholder approval. The stock was quoting at Rs. 62.95, up 0.06%, with volumes at 16,146 shares, 38.05% below the five-day average, and market cap at Rs. 67.22 crore. Meanwhile, MCX adjusted to a 1:5 split, with shares jumping 4% to a fresh 52-week high of Rs. 2,278, despite an apparent 80% plunge on paper.
Aether Industries surged to a new 52-week high of Rs.954.5 on January 2, 2026, rising 5.41% in a session and extending its four-day rally to 13.93%. The specialty chemicals stock outperformed its sector by 5.17%, trades above all key moving averages, and is backed by 16.14% YoY operating profit growth and Rs.100.09 crore cash flow.
Ola Electric shares surged up to 8.66% to an intraday high of Rs.40.77 on January 2, trading near Rs.39.91, up 6.37%. December registrations rose to 9,020 units, lifting MoM market share to 9.3% from 7.2%, with H2 December nearing 12%. The stock has support at Rs.32–34 and upside seen toward Rs.45–52.
Nike shares, down nearly 57% from 2021 peaks, trade around $63.71, valuing the company at $94 billion. The stock has declined for four straight years despite a 2.53% dividend yield and 40.72% gross margin. China footwear sales fell 20% YoY, while a steep 38 forward P/E keeps valuation stretched, limiting near-term upside.
Tourism Finance Corporation and Cupid crashed to 20% lower circuits on January 2, with no disclosures triggering the fall. TFCI slipped to Rs.55.24 after nearly doubling in 2025, while Cupid hit Rs.419.95, snapping a 13-day rally after a ~600% surge last year. Aditya Halwasiya holds 18.8% in TFCI and 32.58% in Cupid.
After three straight losing sessions, bullion prices rebounded sharply on January 2. IBJA data showed 24-carat gold rising Rs.954 to Rs.1,34,415 per 10 grams from Rs.1,33,461, while silver surged Rs.5,656 to Rs.2,34,906 per kg from Rs.2,29,250, signaling renewed momentum for bullion traders and investors.
Baidu said its AI chip unit Kunlunxin confidentially filed for a Hong Kong listing on January 1, signaling a potential spin-off. Kunlunxin was earlier valued at 21 billion yuan ($3 billion). Following the news, Baidu’s US shares jumped 12% pre-market. Hong Kong saw $36.5 billion raised via 114 IPOs in 2025.
LIC has lost more than 11,400 crore in market value within two trading sessions. The decline follows ITC’s 14% share crash after the tobacco tax hike announcement. As ITC’s largest institutional investor, LIC faced significant erosion in holdings. Market experts warn of ripple effects across FMCG and tobacco-linked portfolios.
Devyani International and Sapphire Foods, operators of KFC and Pizza Hut in India, are moving toward a merger. The deal aims to consolidate quick-service restaurant operations, creating one of the largest QSR players in the country.
Analysts expect stronger market presence, improved efficiency, and enhanced bargaining power with suppliers. The merger highlights growing consolidation in India’s fast-food sector amid rising consumer demand.
Agritech platform Arya.ag has raised fresh capital from GEF Capital Partners to fuel expansion. The company plans to strengthen its farm-to-market services and enhance digital solutions for farmers. With new funding in place, Arya.ag is preparing for an upcoming initial public offering. The move highlights growing investor confidence in India’s agritech sector and rural innovation.