Weekly Update- 02 January 2026

NIFTY50

Nifty ended the week at 26,329, gaining 286 points (+1.1%). The week began on a cautious note, with the market retesting its key support zone near 25,800, but sentiment improved significantly as the week progressed. A strong rebound from support levels led to sustained upside momentum, culminating in the index recording a fresh all-time high on Friday. The rally was supported by broad-based participation, with broader markets also outperforming, indicating healthy underlying strength. For the coming week, resistance is seen around 26,500, while support lies near 26,100, and the overall outlook remains buy on dips.

BANKNIFTY

Bank Nifty closed the week at 60,151, rising 1,140 points (+1.93%). The week began on a cautious note, with the index retesting its key support zone near 58,700, but sentiment improved sharply as the week progressed. A strong rebound from these levels led to sustained upside momentum, and the index registered a fresh all-time high on Friday. The rally was largely driven by significant outperformance in PSU banks, which led gains over private banks. For the coming week, key support is placed around 59,500, while resistance is seen near 60,700, with the overall outlook remaining buy on dips.

TOP GAINING SECTOR

NIFTY METALS was top gainer sector for the week

Major gainers were:-

HINDCOPPER:- up by 13.94%

HINDALCO:- up by 6.05%

NATIONALUM:- up by 7.64%

JSW STEEL:- up by 7.89%

TOP LOSING SECTOR

NIFTY FMCG was top losing sector for the week

Major losers were:-

ITC:- down by 13.39%

RADICO:- down by 6.39%

UNITEDSPR:- down by 3.28%

UBL:- down by 1.69%