In the second trading session of the year, Indian stock markets reached a historic peak as the Nifty 50 closed above the 26,300 level for the very first time. The surge was driven by the exceptional performance of Coal India, SBI and NTPC, which featured prominently among the day’s top five gainers in a record-breaking session. The landmark achievement underscores a strong start to 2026, as investor confidence remains high following positive economic data and strategic corporate updates.
Market Performance Overview
The Nifty 50 reached a new closing high of 26,328.55, gaining 182.00 points or 0.70%. During the day, the index reached an intraday peak of 26,340, showing strong buying interest from the opening bell. At the same time, the BSE Sensex rose by 573.41 points or 0.67% to finish the day at 85,762.01.
Smaller companies also saw gains, with the BSE midcap and smallcap indices rising by nearly 1%. The Bank Nifty, helped by a strong showing from SBI, reached a new milestone by crossing 60,151, while the Nifty PSU Bank index grew by 1.87% to finish at 8,731.65. The Indian rupee ended slightly weaker at 90.19 against the US dollar.
(Source: NSE, BSE)
Top Nifty Gainers: January 2, 2026
The table below features the best-performing stocks of the day, with Coal India, SBI and NTPC among the top names:
| Stock Name | Open (₹) | High (₹) | LTP (₹) | % Change |
|---|---|---|---|---|
| Coal India | 401.35 | 429.50 | 429.10 | +7.15% |
| NTPC | 336.80 | 353.00 | 351.65 | +4.56% |
| Hindalco | 898.00 | 927.30 | 926.50 | +3.53% |
| Trent | 4,300.00 | 4,437.90 | 4,400.00 | +2.39% |
| SBI | 984.50 | 1,009.50 | 1,005.65 | +2.12% |
(Source: NSE)
Key Market Drivers
Two main factors helped push the market to these new heights:
- Interest Rate Hopes: Investors are hopeful that the US Federal Reserve and the RBI will announce interest rate cuts soon. This expectation has kept the market mood very positive.
- Strong GST Data: Goods and Services Tax (GST) collections for December 2025 reached ₹1.74 lakh crore. This is a 6.1% increase compared to the previous year and the fastest growth seen in three months.
(Source: The Hindu)
Stock Specific Highlights
- Coal India: Coal India was the star performer today, surging over 7%. The company announced a major policy shift allowing foreign buyers from Bangladesh, Bhutan, and Nepal to bid directly in its digital coal auctions starting January 1, 2026. Previously, these buyers had to work through local agents. This change is expected to help Coal India grow its sales across borders and improve its revenue.
- NTPC: NTPC shares rose by over 4%. The company is actively seeking international partners to build nuclear power plants. NTPC aims to create 30 GW of nuclear energy, helping India move toward its national target of 100 GW of nuclear capacity by 2047.
- SBI and Banking Records: The banking sector saw significant interest, with SBI gaining over 2% to close at ₹1,005.65. The Bank Nifty hit a fresh record high as investors responded to strong third-quarter updates from other major banks.
- Auto Sector: The Nifty Auto Index reached an all-time high of 28,867. Strong December sales helped companies like Bajaj Auto and TVS Motor reach their highest price of the year. Gains were also seen in stocks such as Maruti, Ashok Leyland, and Eicher Motors amid broad-based buying in auto names.
(Source: CNBC TV-18, Moneycontrol)
Stocks Scaling Fresh 52 Week High
| Stock Symbol | Current Price (₹) | 52-Week High (₹) |
|---|---|---|
| Ashok Leyland | 187.90 | 190.00 |
| Bajaj Auto | 9,499.00 | 9,633.00 |
| BHEL | 299.70 | 300.85 |
| Chola Finance | 1,779.90 | 1,789.10 |
| IDFC First Bank | 85.87 | 87.00 |
| L&T | 4,164.70 | 4,172.70 |
| Manappuram | 311.00 | 319.40 |
(Source: NSE)
Other Important Business News
- UCO Bank: Reported that its total business reached ₹5.54 lakh crore this quarter, with loans growing by more than 16% compared to last year.
- E2E Networks: Won a contract worth ₹8.48 crore to provide cloud computing services to a global software company.
- Zodiac Energy: Signed a deal to build a 10.8 MWp (Megawatt peak) solar power plant in Gujarat for a healthcare firm.
- ICICI Bank: Started a new “Capital Gains Account Scheme” on January 1 to help people save on taxes after selling property or shares.
(Source: CNBC TV-18, Moneycontrol)
The Bottomline
With the Nifty and Sensex closing at record levels, investor focus now shifts to the sustainability of earnings growth and upcoming macro developments. Continued strength in PSU banks, power and autos suggests underlying confidence, even as global cues remain mixed.
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