Sensex Today | Stock Market Highlights: Market hits new record highs; metals, PSUs lead weekly gains

That’s all from CNBCTV18.com‘s live market coverage on January 2, 2026.

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Mayuresh Joshi, Director Research, Marketsmith India

“For ITC, I think the excise duty hikes will have will have an impact. And therefore, I think the kind of volume loss that happens per stick might get compensated with the price increases that you’re expected to witness. However, I think the expectation largely is that it might still have an impact in terms of earnings going forward.”

“When it comes to their other businesses, whether it is FMCG or the other active trading business, that might do well. But the other point that I want to make is the kind of investments that ITC is going to make in the other products that they’re going to develop. What we’ve seen earlier, historically in the past, when ITC was developing its FMCG business and creating those brands, a lot of cash flows were getting into that business where ROC probably got cramped up and therefore I think the stock price just consolidated. I think it might just go through a typical consolidation mode based on both these factors for ITC.”

Nilesh Shah of Kotak Mahindra AMC

“Nifty and rupee, one will be at all-time high, other will be at all-time low. There’s no point in talking about that, because that’s how their character is going to be and undoubtedly.”

“CY26 looks better poised over CY25 from earnings growth as well as valuation point of view. Now, sometimes market decides to ignore it, sometimes it decides to price that in. So anyway, it’s a good start to the year.”

Gautam Shah of Goldilocks Global Research

“I do believe that in 2026 the index is not going to deliver supernormal returns. Our working target on the Nifty is about 28,400. While it might sound big, in percentage terms it is nothing. Many other markets in the world will do something similar or better.”

These are the top contributors to the Nifty Gains Today:

Nifty hit a fresh record high of 26,332.15, surpassing its previous peak of 26,325, toward the end of the week.

The shares of Igarashi Motors rose by over 7% or ₹32.75, taking the total value to ₹471.70.

The shares of Ola Electric rose close to 9% after declining over the previous sessions.

The shares of the Indian publicly owned bank, Indian Bank, rose by 3%

The shares of MSTC rose, with the steel-making government company rising by over 2%.

The shares of SJVN rose on Friday, scaling over 12% intraday as markets rose.

The shares of IDBI Bank have made major gains today, adding to the 6 month gains of over 11%.

The shares of FMCG major Dabur rose on Friday. The stock price has risen by over 6% in the past 6 months of trade.

The shares of Bosch surged as auto and ancillary company stocks rose on Friday.

Hemen Kapadia, DRChoksey Finserv

The firm continues to be optimistic about companies in the consumer, industrial, telecom, and financial sectors, pointing to strong earnings prospects and appealing upside potential in all of its top stock selections.

The Indian equities market is at a point when the majority of investment themes have already been discovered, making pricing a major concern for investors, according to Shreyash Devalkar, Head of equities at Axis Mutual Fund, which oversees over $39 billion in assets. He is concentrating on a combination of equities that deliver growth at a fair price (GARP) and sustainable growth in current climate.

Mehul Kothari, Deputy Vice President – Technical Research, Anand Rathi Shares and Stock Brokers

Following a significant development regarding the e-auction process, Coal India Ltd.’s shares increased by as much as 6% on Friday, January 2.

Beginning on Thursday, the biggest miner in India has made it possible for coal buyers in nearby nations like Bangladesh, Bhutan, and Nepal who want to import coal from India to take part directly in the company’s Single Window Mode Agnostic (SWMA) auctions.

The Indian rupee falls further, declining to 90.18 against the US Dollar.

The shares of Transformers And Rectifiers surged by over 8%.