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Stock Market Live Updates | Gift Nifty Signals Flat to Positive Start for Markets
By Bajaj Broking Team
January 02, 2026
8 mins read
Market News
Synopsis:
Today’s share market’s key developments include: RailTel secured a ₹56.71 crore HMIS order, while Aurobindo Pharma approved a ₹325 crore acquisition. Olectra Greentech commissioned its EV facility, Time Technoplast received regulatory approvals, Vodafone Idea faced a ₹637.9 crore tax demand, and FIIs were net sellers as DIIs bought equities.
Source: Bajaj Broking Research Desk.
GIFT NIFTY: Gift Nifty suggests a flat to positive start to the Indian markets. Nifty spot in today's session is likely to trade in the range of 26,000-26,300.
INDIA VIX: 9.18 | -0.29 (3.06%) ↓ today
In-Depth Market Insights: Global Outlook, Derivatives & More
Other Asset Classes
Treasury Yield:
The benchmark U.S. 10-year Treasury yield remained at 4.163% as bond markets remained closed on account of New Year's Eve.
Currency:
The dollar index (DXY), which tracks the dollar against a basket of major currencies, edged slightly lower to 98.18.
Commodities:
U.S. crude was trading at $57.49 a barrel, while Brent was near $60.9, largely unchanged.
Gold and silver advanced as trading in 2026 kicked off, building on their best annual performances since 1979. Gold rose toward $4,350 an ounce, up by 0.7% & silver too gained more than 1% trading near $72.5.
Asian Markets
General Trends:
Asian equities are expected to open on a cautious note after closing 2025 quietly, despite an otherwise strong and upbeat year for global stock markets.
Sector-Specific Indicators:
Trading volumes on Friday are likely to remain light, as several major global markets, including Japan and China, will continue to stay closed for holidays, while South Korea has a delayed start, limiting participation and overall liquidity across markets.
India Market Outlook
Market in the Previous Session:
Indian markets started the new year on a quiet note and ended almost flat. Weak global cues and pressure from a few heavy stocks limited gains, while support from financial stocks and some broader market shares helped Nifty stay above the key 26,100 level.
On the first trading day of the year, the Sensex slipped 32 points (-0.04%) to close at 85,189, while the Nifty added 17 points (+0.06%) to settle at 26,147, reflecting a stable undertone despite limited index-level movement.
From a sectoral perspective, automobiles, metals, and select technology stocks supported the market. In contrast, consumer staples faced sharp pressure, with ITC declining nearly 9% after an increase in excise duty, which capped the upside in the Nifty.
In the broader market, performance was mixed. The Nifty Bank rose 130 points to 59,712, and the Nifty Midcap index gained 266 points to 60,750, while the Nifty Small-cap index ended flat at 17,704.90, indicating selective participation and cautious positioning as the new year began.
TRADE SETUP FOR JAN 02
Nifty Short-Term Outlook:
Nifty opened marginally higher and gradually moved up toward the 26,200 level but remained confined to a narrow range through the session, eventually closing at 26,146.55.
On the daily chart, the index formed a small-bodied candlestick with minor upper and lower shadows following the previous session’s strong upward move. This price action indicates a phase of consolidation near the upper end of the recent trading range, reflecting temporary hesitation after the sharp rise.
The broader trend for the Nifty remains bullish. In the near term, the index is likely to attempt a further move higher toward the key resistance zone of 26,250–26,350, where some consolidation or mild profit-taking cannot be ruled out.
On the downside, the 26,000 level remains the immediate and crucial support, followed by 25,940.
Intraday Levels:
Nifty: Intraday resistance is at 26,190, followed by 26,300 levels. Conversely, downside support is located at 26,080, followed by 26,000.
Bank Nifty: Intraday resistance is positioned at 59,840, followed by 60,000, while downside support is found at 59,480, followed by 59,200.
Derivative Market Analysis
Nifty:
Nifty synthetic futures are quoting near 26,170, indicating a stable and supportive undertone.
Options positioning highlights 26,200 as the key near-term resistance, marked by the highest call open interest and aggressive call writing above the 26,100 level during the session.
On the downside, put writers were relatively less active but appear to be forming a base in the 26,100–26,150 zone.
The presence of a straddle at 26,150 suggests expectations of near-term consolidation around current levels.
As long as synthetic futures sustain above the 26,100–26,150 support band, the broader bias remains positive, and any pullbacks toward this zone are likely to be used as buying opportunities rather than signaling a trend reversal.
Bank Nifty:
In Bank Nifty, the highest concentration of both call and put open interest at 59,500 clearly marks it as a key pivot level.
Aggressive call and put writing was also visible at the 60,000 strike, where the second-highest call open interest is present, defining a major resistance area.
On the downside, the 59,600–59,700 band has emerged as a crucial near-term support for maintaining momentum.
A sustained move above 60,000, accompanied by call unwinding at that strike, could fuel a continuation of the ongoing bullish rally.
Until a decisive breakout occurs, declines toward support are expected to attract fresh long additions.
US Share Market News
Performance Overview:
U.S. stock markets were closed on Thursday, January 1, in observance of New Year’s Day holiday. Markets will resume normal trading hours on Friday, Jan. 2, 2026.
Sector-specific indicator:
For a quick recap: the S&P 500 surged nearly 17%, marking its third consecutive year of gains. The Nasdaq Composite led the rally with a 20% rise, while the Dow Jones advanced 13%.
Economic indicator:
U.S. unemployment benefit claims fell last week to one of the lowest levels seen this year.
Initial jobless claims dropped by 16,000 to 199,000 for the week ended December 27, well below the Bloomberg survey estimate of 218,000.
Stay on top of the latest market news with Bajaj Broking’s insights. Our point-to-point analysis digs deep into the surface, empowering you with a unique perspective on domestic and global stock market events. Get all the current share market news, including US share market updates and the trade set up for today, in one place to make informed investment decisions.
Published Date :
02 Jan 2026
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