Market Commentary - Mid-Session
05-Jan-2026 13:35
Nifty trades below 26,300 level; broader mrkt outperforms
At 1:30 ST, the barometer index, the S&P BSE Sensex declined 133.13 points or 0.16% to 85,628.88. The Nifty 50 index dropped 42.60 points or 0.16% to 26,286.05.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.11% and the S&P BSE Small-Cap index added 0.10%.
The market breadth was negative. On the BSE, 1,735 shares rose and 2,397 shares fell. A total of 214 shares were unchanged.
Economy:
India's foreign exchange reserves increased by $3.29 billion to $696.61 billion in the week ended December 26, 2025, according to the Reserve Bank of India's Weekly Statistical Supplement released on January 2.
Foreign currency assets (FCAs), the largest component of the reserves, stood at $559.61 billion, registering a marginal weekly increase of $184 million, the data showed.
Gold reserves increased sharply by $2.96 billion during the week to $113.32 billion, contributing the most to the overall rise in reserves.
India's Special Drawing Rights (SDRs) with the International Monetary Fund rose by $60 million to $18.80 billion. The country's reserve position in the IMF increased by $93 million to $4.88 billion as of December 26.
Gainers & Losers:
Bharat Electronics (up 2.94%), Nestle India (up 3.03%), Eicher Motors (up 1.77%), Asian Paints (up 1.75%) and UltraTech Cement (up 1.64%) were the major Nifty50 gainers.
Infosys (down 1.95%), HCL Technologies (down 1.93%), HDFC Bank (down 1.92%), Wipro (down 1.82%) and Oil & Natural Gas Corporation (down 1.21%) were the major Nifty50 losers.
Stocks in Spotlight:
Corona Remedies added 2.23% after it reported a 21.75% increase in consolidated net profit to Rs 52.32 crore on 15.05% rise in revenue from operations to Rs 361.13 crore in Q2 FY26 over Q2 FY25.
NIBE surged 4.72% after it secured a domestic defence contract worth Rs 292.69 crore from the Indian Army under the Ministry of Defence, Government of India.
Jammu & Kashmir Bank added 0.64%. The bank's gross advances jumped 17.26% to Rs 1,16,247.92 crore as of 31 December 2025, compared with Rs 99,133.35 crore as of 31 December 2024.
Bank of Maharashtra rose 0.45%. The bank reported a 15.30% year-on-year (YoY) increase in total deposits to Rs 3,21,695 crore as of 31st December 2025, compared with Rs 2,79,007 crore as of 31st December 2024.
Global Markets:
European shares opened mixed on Monday as global markets reacted to the U.S.-led overthrow of Venezuelan leader Nicolas Maduro.
Asian market began the first full trading week of 2026 on a stronger note after the U.S. said it had attacked Venezuela and captured President Nicolas Maduro over the weekend.
Oil prices edged lower as markets weighed the potential impact of geopolitical tensions.
U.S. authorities reportedly said that Maduro and his wife, Cilia Flores, were flown to New York following the operation and charged with narco-terrorism conspiracy and other crimes.
Oil prices fell after the escalation involving the oil-rich nation. Brent crude prices slipped more than 1% earlier before paring losses and were last trading 0.25% lower, while the West Texas Intermediate crude prices fell 0.4%.
On Friday stateside, the first trading day of 2026, the S&P 500 closed slightly higher as gains in semiconductor names kept the index afloat.
The benchmark closed up 0.19% at 6,858.47, while the Nasdaq Composite fell 0.03% to finish at 23,235.63. The two had been solidly positive earlier in the day, with the S&P 500 and the tech-heavy Nasdaq trading higher by 0.7% and 1.5% at their peaks, respectively.
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