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Trendlyne Marketwatch
02 Jan 2026, 04:04PM
Market closes higher, led by a rally in auto stocks
By Trendlyne Analysis

 

Nifty 50 closed at 26,328.55 (182, 0.7%), BSE Sensex closed at 85,762.01 (573.4, 0.7%) while the broader Nifty 500 closed at 24,099 (189.5, 0.8%). Market breadth is overwhelmingly positive. Of the 2,591 stocks traded today, 1,751 were on the uptrend, and 778 went down.

Indian indices closed higher after extending gains in the afternoon session, led by a rally in auto stocks on positive monthly sales data. The Indian volatility index, Nifty VIX, closed 2.9% higher at 9.5 points. Indian Bank closed 3.5% higher as its Q3FY26 total deposits grew 12.5% YoY to Rs 7.9 lakh crore, and gross advances rose 14.5%.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, tracking the benchmark index. Nifty CPSE and S&P BSE Utilities were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Metals & Mining emerged as the highest-performing sector of the day, with a rise of 2.1%.

European indices are trading higher, except Russia’s RTSI index. Major Asian indices closed in the green, except Japan’s Nikkei 225 and Malaysia’s KLCI indices. US index futures are trading higher, signalling a positive start to the session.

  • Relative strength index (RSI) indicates that stocks like Hindustan Copper and Shriram Finance are in the overbought zone.

  • SG Finserve is rising as its Q3FY26 loan book grows about 105% YoY to around Rs 3,211 crore and expands 12% sequentially, reflecting strong lending momentum.

  • Time Technoplast rises sharply as it receives Petroleum and Explosives Safety Organisation's (PESO) approval to manufacture and supply high-pressure type-3 composite gas cylinders. The approval allows use across hydrogen and oxygen transport, storage systems, medical applications, drones, and laboratory and industrial gases.

  • Motilal Oswal retains its ‘Buy’ rating on Kotak Mahindra Bank with a target price of Rs 2,500. The brokerage expects steady balance-sheet growth in line with nominal gross domestic product, supported by retail and small and medium enterprise expansion. Net interest margins are likely to remain range-bound in the near term, with benefits of the recent rate cut expected to flow through from Q4FY26. It expects the bank to sustain a return on assets of around 2% and a return on equity of 12.7% by FY27.

  • Sambhv Steel Tubes is rising as its Q3FY26 sales volume grows 34.3% YoY to 97,472 tonnes, supported by 63.5% growth in value-added products.

  • Britannia Industries gets a Rs 108.5 crore tax demand from the CGST & Central Excise, Chennai North, over alleged incorrect input tax credit claims. The order covers six financial years from FY19 to FY24.

  • South Indian Bank surges as its Q3FY26 total deposits grow 12.2% YoY to Rs 1.2 lakh crore, and gross advances rise 11.3%. Its CASA ratio expands 69 bps to 31.8% during the quarter, indicating a reduction in the bank's cost of funds.

  • Coal India surges to its 52-week high of Rs 427 per share as it approves the inclusion of coal consumers from Bangladesh, Bhutan and Nepal to participate in its e-auctions.

  • Bharat Heavy Electricals rises to its 52-week high of Rs 297.6 as the Telangana Commercial Tax Department drops a Rs 183.8 crore GST demand for FY22. The ruling accepts that the disputed exports were completed, leading the authority to decide in the company’s favour.

  • RailTel Corp of India is rising as it receives a letter of acceptance (LoA) from Assam Health Infrastructure Development & Management Society for a Rs 56.7 crore hospital management information system (HMIS) project. The order covers procurement, implementation, and maintenance, with execution scheduled till January 31, 2032.

  • Tobacco stocks such as ITC and Godfrey Phillips India are falling as the government announces amendments to the Central Excise Act. The changes impose an excise duty of Rs 2,050 to Rs 8,500 per 1,000 cigarettes, based on length, effective February 1. This duty is in addition to the 40% goods and services tax.

  • IT Minister Ashwini Vaishnaw notes that the ministry has approved 46 projects under the Electronics Components PLI scheme, with investments over Rs 54,000 crore. He adds that four semiconductor units will be commissioned in 2026, creating over 51,000 jobs.

  • Punjab & Sind Bank rises sharply as its total deposits grow 9.3% YoY to about Rs 1.4 lakh crore, while gross advances increase 15.3% in Q3FY26. The bank’s credit-deposit (CD) ratio improves by 412 bps YoY to 79.4%.

  • Indian Bank surges as its Q3FY26 total deposits grow 12.5% YoY to Rs 7.9 lakh crore, and gross advances rise 14.5% YoY. However, its CASA ratio drops 98 bps to 39% during the quarter, indicating an expansion in the bank's cost of funds.

  • Larsen & Toubro rises to its all-time high of Rs 4,164.2 per share as its minerals & metals (M&M) business secures orders worth Rs 5,000-10,000 crore from SAIL and other domestic customers for engineering procurement & engineering (EPC) projects and products. The company will help SAIL expand its crude steel capacity to 6.5 million tonnes per annum (MPTA) from 2.5 MTPA.

  • The Union government reportedly plans to increase capex by 7% to Rs 12 lakh crore in the Union Budget 2026, as private investments remain uneven amid global uncertainties.

  • Bansal Wire Industries is rising sharply as its sales volume jumps 31.7% YoY to 1.2 lakh units in Q3FY26.

  • Force Motors is rising as its December wholesales jump 49.7% YoY to 3,048 units, driven by a 48.7% growth in domestic sales. Meanwhile, exports surge 88.2% to 96 units.

  • MOIL is rising as it revises manganese ore prices from January 1. The company raises ferro-grade prices by 3%, and hikes lower-grade silico manganese ore (SMGR, around 30% manganese) & fines by 5%.

  • Reliance Industries is rising as Morgan Stanley maintains its 'Overweight' rating on the company with a target price of Rs 1,847 per share. This indicates a potential upside of 16.5%. The brokerage remains positive on the stock, driven by a refining up-cycle, an ARPU hike, retail revenue growth, a ramp-up in new energy initiatives, and a recovery in chemicals.

  • Devyani International is rising sharply as its board of directors approves the merger of Sapphire Foods India into itself. As per the deal, shareholders of Sapphire Foods will receive 177 shares of the company for every 100 shares held, while Arctic International, a subsidiary of Devyani, will acquire an 18.5% stake in Sapphire Foods.

  • Aurobindo Pharma's subsidiary, Auro Pharma, approves acquiring the non-oncology prescription formulations business of Khandelwal Laboratories for Rs 325 crore.

  • TVS Motor is rising as its total wholesales grow 50% YoY to 4.8 lakh units in December, driven by a 48% YoY increase in two-wheelers and a 40% YoY growth in international business.

  • Hero MotoCorp is rising as its monthly wholesales grow 40.5% YoY to 4.6 lakh units in December due to higher motorcycle and scooter sales. Exports surge by 21.1% YoY to 37,236 units during the month.

  • Nifty 50 was trading at 26,181.65 (35.1, 0.1%), BSE Sensex was trading at 85,290.95 (102.4, 0.1%), while the broader Nifty 500 was trading at 23,952.20 (42.7, 0.2%).

  • Market breadth is in the green. Of the 2,082 stocks traded today, 1,166 were on the uptick, and 846 were down.

Riding High:

Largecap and midcap gainers today include IDBI Bank Ltd. (114.73, 10.6%), Bosch Ltd. (39,420, 9.1%) and Coal India Ltd. (427.90, 6.9%).

Downers:

Largecap and midcap losers today include ITC Ltd. (350.05, -3.8%), Waaree Energies Ltd. (2,866.30, -3.0%) and GE Vernova T&D India Ltd. (3,093.70, -2.2%).

Crowd Puller Stocks

34 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included SJVN Ltd. (83.04, 11.1%), IDBI Bank Ltd. (114.73, 10.6%) and Transformers & Rectifiers (India) Ltd. (336.40, 9.3%).

Top high volume losers on BSE were Embassy Developments Ltd. (56.59, -4.8%), Sapphire Foods India Ltd. (252, -4.1%) and Waaree Energies Ltd. (2,866.30, -3.0%).

Devyani International Ltd. (148.07, 0.4%) was trading at 19.1 times of weekly average. Olectra Greentech Ltd. (1,248, 4.0%) and Torrent Power Ltd. (1,399.40, 5.5%) were trading with volumes 9.8 and 7.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

37 stocks hit their 52 week highs, while 6 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - 3M India Ltd. (36,170, 0.5%), Adani Energy Solutions Ltd. (1,057.90, 1.1%) and Ashok Leyland Ltd. (188.78, 2.1%).

Stocks making new 52 weeks lows included - ITC Ltd. (350.05, -3.8%) and Aavas Financiers Ltd. (1,443.40, -1.1%).

30 stocks climbed above their 200 day SMA including JBM Auto Ltd. (666.60, 6.6%) and Anant Raj Ltd. (584.05, 5.7%). 9 stocks slipped below their 200 SMA including Dr. Lal Pathlabs Ltd. (1,474.20, -2.4%) and AstraZeneca Pharma India Ltd. (8,601.50, -2.0%).

 
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