Market hits record highs as Sensex rises 573 points, Nifty ends at life high of 26,329

The equity benchmark indices BSE Sensex and NSE Nifty on Friday (January 2) ended at record highs at the close of trade, with the market extending its upward momentum. The Sensex rose 573 points to close at 85,762, while the Nifty gained 182 points to end at a life high of 266,329, moving back above the 26,325 level during the session.

Broader markets moved in line with frontline indices, with the Nifty Bank and Midcap indices also touching life highs. The Nifty Bank gained 439 points to settle at 60,151, while the Midcap Index advanced 616 points to close at 61,366. Both indices ended the session with gains of around 1% each.

From the Sensex basket, Coal India Ltd, NTPC Ltd, Hindalco Industries Ltd, Trent Ltd, Jio Financial Services Ltd and Bajaj Finance Ltd were the major gainers. ITC Ltd, Nestle India Ltd, Shriram Finance Ltd, Bajaj Auto Ltd, Bharti Airtel Ltd

and InterGlobe Aviation Ltd were the biggest laggards.

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Sectorally, all indices ended in the green except FMCG. PSU stocks emerged as the top-gaining sectoral index. PSU banks continued to see buying interest, with the State Bank of India among the top gainers on the Nifty.

Power-related stocks saw strong gains, with SJVN, IREDA, PFC and REC featuring among the top performers. Metal stocks extended their gaining streak as commodity prices moved higher. Aluminium shares were higher, supported by LME aluminium hitting $3,000, with NALCO rising 5%.

Coal India advanced 7% after the company allowed foreign participants to take part in its e-auction process. IDBI Bank surged 10% on reports related to financial bids. Ola Electric rose 9% after positive commentary from the company lifted investor sentiment.

In the auto space, TVS Motor and Hero MotoCorp gained, while Bajaj Auto and Hyundai slipped on December sales data. Trent rose more than 2% ahead of its quarterly updates.

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On the downside, ITC fell for the second straight day and was down more than 12% in the session following an excise hike. APL Apollo Tubes snapped its gaining streak and saw profit booking after its Q3 update.

Select banking stocks also moved higher after quarterly updates, with Indian Bank and Punjab & Sind Bank rising 3–5% on healthy Q3 numbers. Market breadth remained strong, with advances outnumbering declines in a 3:1 ratio, reflecting broad-based participation in the rally.