Sensex, Nifty start 2026 on a soft note; autos shine, FMCG slips
Sectorally, automobiles led the gainers' chart, supported by strong monthly sales prints that boosted sentiment in select names. In contrast, FMCG stocks dragged, particularly cigarette counters, after the government announced an excise duty on tobacco products.
- Jan 1, 2026,
- Updated Jan 1, 2026 4:36 PM IST
Indian equity benchmarks began calendar year 2026 on a muted note, ending the first session slightly lower. The 30-share BSE Sensex pack slipped 32 points or 0.04 per cent to close at 85,189 on Thursday, while the NSE Nifty index declined 17 points or 0.06 per cent to settle at 26,147. Market breadth was mixed across broader indices, with the NSE MidCap100 advancing 0.44 per cent even as the SmallCap100 inched down 0.05 per cent.
Sectorally, automobiles led the gainers' chart, supported by strong monthly sales prints that boosted sentiment in select names. In contrast, FMCG stocks dragged, particularly cigarette counters, after the government announced an excise duty on tobacco products.
Vinod Nair, Head of Research at Geojit Investments, said, "The domestic market started the year with a range-bound session and ended slightly higher amid thin trading due to global holidays and continued FII selling. Sectorally, auto stocks gained on strong December sales, while value buying supported IT stocks. However, overall advances were capped as FMCG stocks declined following the newly imposed excise duty on cigarettes. In the days ahead, Q3 earnings, budget expectations and global cues such as the India-US trade deal and potential Fed actions are expected to guide market direction, with earnings growth likely to remain the key driver in 2026."
Ponmudi R, CEO of Enrich Money, described the overall setup as a "stable and constructive footing" for the year's start, citing resilient domestic demand and policy continuity as factors encouraging bargain hunting.
On the technical front, Ponmudi highlighted 26,000–26,050 as an immediate support band for Nifty. A sustained hold above this zone would keep near-term sentiment positive, while resistance is placed at 26,250–26,300. A breakout above this hurdle could open the door to 26,400–26,500, with 26,500 marking a significant psychological milestone for further momentum.
Indian equity benchmarks began calendar year 2026 on a muted note, ending the first session slightly lower. The 30-share BSE Sensex pack slipped 32 points or 0.04 per cent to close at 85,189 on Thursday, while the NSE Nifty index declined 17 points or 0.06 per cent to settle at 26,147. Market breadth was mixed across broader indices, with the NSE MidCap100 advancing 0.44 per cent even as the SmallCap100 inched down 0.05 per cent.
Sectorally, automobiles led the gainers' chart, supported by strong monthly sales prints that boosted sentiment in select names. In contrast, FMCG stocks dragged, particularly cigarette counters, after the government announced an excise duty on tobacco products.
Vinod Nair, Head of Research at Geojit Investments, said, "The domestic market started the year with a range-bound session and ended slightly higher amid thin trading due to global holidays and continued FII selling. Sectorally, auto stocks gained on strong December sales, while value buying supported IT stocks. However, overall advances were capped as FMCG stocks declined following the newly imposed excise duty on cigarettes. In the days ahead, Q3 earnings, budget expectations and global cues such as the India-US trade deal and potential Fed actions are expected to guide market direction, with earnings growth likely to remain the key driver in 2026."
Ponmudi R, CEO of Enrich Money, described the overall setup as a "stable and constructive footing" for the year's start, citing resilient domestic demand and policy continuity as factors encouraging bargain hunting.
On the technical front, Ponmudi highlighted 26,000–26,050 as an immediate support band for Nifty. A sustained hold above this zone would keep near-term sentiment positive, while resistance is placed at 26,250–26,300. A breakout above this hurdle could open the door to 26,400–26,500, with 26,500 marking a significant psychological milestone for further momentum.