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Indian equity markets showed mild gains on Friday as Sensex rose nearly 100 points and Nifty traded marginally higher. Markets began 2026 in a cautious, range-bound manner amid low volumes, foreign fund outflows, and stock-specific selling.
Sensex Gains, Nifty Trades Marginally Higher
Mumbai: On Friday morning, the last day of the first trading week of 2026, the Indian stock market witnessed a slight increase. The BSE Sensex opened with a gain of around 100 points at around 85,300, while the NSE Nifty50 traded marginally above 26,150 with a gain of 14 points. The market remained volatile until 9:15 am.
The market showed further positive signs during the pre-open session. At around 9:03 am, the Sensex rose by more than 150 points to cross 85,350, while the Nifty also remained in the green with a slight increase. However, experts believe that a cautious mood still prevails in the market.
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It is noteworthy that the start of calendar year 2026 was cautious and almost flat for the Indian equity markets. The market remained range-bound due to low volumes, continued selling by foreign investors, and strong pressure in select stocks. Volumes were also relatively low due to the holidays, preventing the rally from sustaining.
After an initial rally, market pressure increased when ITC shares saw heavy selling. A weak rupee also weighed on investor sentiment. However, buying in select stocks provided partial support, averting a major decline.
On Thursday, the Sensex fell 32 points, or 0.04 percent, to close at 85,188.60. Selling erased its initial gains late in the day. Meanwhile, the Nifty managed to close at 26,146.55, up 16.95 points, or 0.06 percent. According to analysts, this was the Nifty's narrowest trading range since September 17, 2025, reflecting market uncertainty.
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Shares of cigarette and tobacco companies fell sharply after the government announced the imposition of additional excise duty and a health cess on tobacco products and pan masala from February 1. Shares of Godfrey Phillips India fell by 17.09 percent.
Aakash Shah, research analyst at Choice Broking, said the Nifty managed to hold above the crucial 26,100 level. He said the market remained in consolidation mode near record levels despite weak global cues and low volumes.
