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Informist, Tuesday, Jan. 6, 2026

 

By Arundathi A R

 

MUMBAI – Analysts expect the market to remain stuck in a range in the coming days. The bias is expected to stay positive on expectations of better corporate financial results for the December quarter. Market participants will also keep an eye on critical economic data scheduled for the week, they said. 

 

"A sustained move above 26,370 (points) could trigger short covering and propel the index toward fresh record highs near 26,500 (points)," Dhupesh Dhameja, derivatives research analyst at SAMCO Securities, said in a note. Tuesday, the Nifty 50 closed lower for the second consecutive session. The headline index ended at 26178.70 points, down 71.60 points or 0.3%. The BSE Sensex closed at 85063.34 points, down 376.28 points or 0.4%. Analysts pegged the resistance level for the Nifty 50 at 26400 points and support at 26100 points.

 

"For the full year, we expect returns of 12–13%," Sunny Agrawal, head of the fundamental research desk at SBI Securities, said. He expects India's corporate earnings to grow approximately 200 basis points more than the country's nominal GDP growth of 10-11%. "So, overall corporate earnings can deliver growth closer to 13%," he said.

 

Agrawal also expects the intensity of selling by foreign institutional investors to come down in 2026. He sees stability in the rupee boosting the sentiments of foreign investors, if the rupee can sustain closer to the 89.90-a-dollar level over the next few weeks.

 

In the automobile sector, Elara Capital expects the significant growth momentum seen after the goods and services tax cuts to continue. The brokerage has raised its volume growth estimates for the financial year 2025–26 (Apr-Mar) in segments such as passenger vehicles, medium and heavy commercial vehicles, light commercial vehicles, and tractors.

 

YES Securities (India) expects the performance of the oil and gas sector in Oct-Dec to be strong on year as well as sequentially. "The upstream companies would report mix operating profits but would be supported by dividend income from their investments," the brokerage said in its report. The brokerage sees Oil and Natural Gas Corp.'s oil production falling 1% on year and gas production being flat. Oil India's oil production is expected to be down 3.4% on year while gas production rises 1%. YES Securities expects a decline in net crude realisations for both companies owing to a decrease in crude prices and gas prices, it said in the report.

 

Market participants will watch for the first advance estimate of GDP for FY26, scheduled to be released by the statistics ministry for Wednesday. Monday, the ministry will release the combined CPI data. Meanwhile, Friday, the Food and Agriculture Organization will release the food price index for December.  End

 

Edited by Rajeev Pai

 

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