Mumbai: Indian equity markets were largely rangebound during noon trade on the first trading day of 2026. The Sensex and Nifty50 moved in a narrow band as buying in select heavyweight stocks was balanced by selling pressure in banks and consumer stocks.
At around 1:50 pm, the Sensex was almost flat, up just 38 points at 85,258. The Nifty50 was marginally higher by 21 points at 26,151. During the session, the Sensex moved within a range of 335 points, while the Nifty touched an intraday high of 26,198 and a low of 26,113.
Mixed Performance Among Heavyweights
Gains in stocks such as Infosys, Reliance Industries, Larsen & Toubro, Eternal, and Mahindra & Mahindra helped support the indices. However, these gains were offset by losses in ITC, ICICI Bank, Bajaj Finance, HDFC Bank, and Bharat Electronics, keeping the market directionless.
Investors appeared cautious at the start of the new year, choosing to wait for clearer signals before making fresh bets.
Blue Dart Jumps on GST Relief
Shares of logistics major Blue Dart surged sharply during the session. The stock rose over 9 percent after its subsidiary, Blue Dart Aviation, received major relief in a Goods and Services Tax dispute. The tax authority significantly reduced the GST demand from over Rs 420 crore to a much smaller amount, which boosted investor confidence.
Adani Total Gas Sees Heavy Buying
Adani Total Gas shares were among the active stocks of the day. The stock traded with strong gains and saw unusually high trading volumes. On the BSE, trading volume was more than 11 times the recent daily average, indicating strong investor interest in the stock.
Tobacco Stocks Slide on New Tax Announcement
Shares of tobacco and cigarette makers were under pressure after the government announced new taxes on tobacco products and pan masala, effective February 1. ITC shares fell sharply, while Godfrey Phillips saw a steep decline of over 15 percent. VST Industries also traded lower.
Investors are worried that higher taxes will push up product prices and reduce demand, which could hurt company earnings.
Vodafone Idea Rallies on Funding News
Vodafone Idea shares jumped nearly 10 percent after news that the company will receive around Rs 5,836 crore from Vodafone Group under a revised settlement agreement. The financial support raised hopes about the telecom company’s ability to manage its debt and continue operations.
Reliance Industries Hits New High
Reliance Industries shares rose to a fresh 52-week high, supported by strong long-term performance and optimism around its future plans. The stock has gained over 29 percent in the past year. Investor sentiment was also lifted after Chairman Mukesh Ambani outlined an ambitious AI-focused roadmap for the company.
IREDA Gains on Strong Business Update
Shares of IREDA moved higher after the company reported strong growth in loan sanctions and disbursements for the third quarter. The update signaled steady demand in the renewable energy financing space.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Investors should conduct their own research or consult a professional before making any investment decisions.
