Indian equity benchmark indices Sensex and Nifty 50 were expected to open on a muted note on Friday, January 2, with trading likely to remain thin after most global markets were shut in the previous session.
Early cues from Gift Nifty pointed to a flat-to-positive start for domestic equities. Gift Nifty was trading at 26,314, up 23 points, or 0.09%, from the previous close of Nifty futures
In the previous session, benchmark indices Sensex and Nifty 50 ended on a mixed note on the first trading day of calendar year 2026, with investors favouring stock-specific action amid the absence of fresh triggers. The Sensex slipped 32 points, or 0.04%, to close at 85,188.60, while the Nifty 50 gained 17 points, or 0.06%, to settle at 26,146.55. Markets are expected to continue witnessing stock-specific movements, keeping the benchmark indices range-bound. The lack of fresh cues has led to subdued sentiment, as investors await the Q3 earnings season and further clarity on India–US trade discussions.
“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,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Here are the key things that changed since the stock market closed yesterday and may impact Sensex, Nifty 50 movement today:
Asian Markets
Asian stocks look set to begin trading cautiously after ending 2025 on a subdued note, following an otherwise buoyant year for equities. Trading is likely to be thin with several regional markets shut for holidays, including Japan and China, while South Korea has a delayed start. The S&P 500 extended a stretch of post-Christmas losses on Wednesday and the Nasdaq 100 had a fourth day of declines. Even so, both indexes have posted double digit gains for three consecutive years.
Gift Nifty Today
The trends on Gift Nifty indicated a flat but positive start for the Indian benchmark index. The Gift Nifty was trading at 26,314, up 23 points or 0.09% from the Nifty futures’ previous close.
Wall Street
Wall Street was closed in the previous session on account of New Year’s day.
US imposes new sanctions
The Trump administration intensified pressure on Venezuela’s oil exports by imposing fresh sanctions on companies based in Hong Kong and mainland China, along with oil tankers accused of bypassing existing restrictions.
On Wednesday, the US Treasury’s Office of Foreign Assets Control added four firms linked to Venezuela’s oil trade — Zhejiang-based Corniola Ltd and Hong Kong-based Aries Global Investment Ltd, Krape Myrtle Co and Winky International Ltd — to its sanctions list. Four vessels associated with these companies, Della, Nord Star, Rosalind and Valiant, were also sanctioned.
US Dollar
The US dollar began 2026 on a soft note on Friday after lagging most major currencies last year, while the yen steadied near 10-month lows as markets awaited economic data for clues on interest-rate direction.
The euro held at $1.1752 in early Asian trade after surging 13.5% last year, while sterling traded at $1.3474 following a 7.7% rise in 2025 — both logging their strongest annual gains since 2017.
The yen was last quoted at 156.74 per US dollar, having gained less than 1% in 2025 and remaining close to the 10-month low of 157.90 touched in November.
Gold and silver Prices
Precious metals started the New Year higher on Friday, as gold climbed a little from a two-week low hit in the previous session, while the others also pared some losses accumulated in the past week, even as the metals notched unprecedented gains in 2025. Spot gold rose 0.8% to $4,346.69 per ounce as of 0019 GMT, after hitting a record high of $4,549.71 on December 26. It fell to a two-week low on Wednesday. U.S. gold futures for February delivery gained 0.5% to $4,360.60/oz. Spot silver added 2.1% to $72.75 per ounce, after hitting an all-time high of $83.62 on Monday. Silver ended the year surging 147%, far outpacing gold, in what was its best year ever on-record.
Oil prices
Oil prices were steady on the first trading day of 2026 following their sharpest annual decline since 2020, as investors assessed an upcoming OPEC meeting alongside ongoing geopolitical developments.
West Texas Intermediate traded above $57 a barrel, after recording losses on Tuesday and Wednesday ahead of the New Year break, while global benchmark Brent settled below $61 a barrel. Major OPEC producers, led by Saudi Arabia and Russia, are scheduled to hold a video conference on January 4 and are widely expected to maintain their earlier decision, taken in November, to pause further supply increases.
On the geopolitical front, the Trump administration intensified pressure on Venezuela’s oil exports by imposing sanctions on companies based in Hong Kong and mainland China, as well as on vessels accused of circumventing existing restrictions.
(With inputs from Agencies)
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