Stock market today: Nifty50 sees record closing high of above 26,300; BSE Sensex up over 570 points

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, rallied strongly in trade on Tuesday. While Nifty50 registered a lifetime closing high, BSE Sensex rose around 600 points. Nifty50 closed the day at 26,328.55, up 182 points or 0.70%. BSE Sensex ended at 85,762.01, up 573 points or 0.67%.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The impressive 25.8 % YoY increase in passenger vehicles sales in December bodes well for the auto industry. More importantly, this data confirms the growth momentum in the economy. It has to be watched whether this growth sustains, albeit at a slower pace, going forward. It is hugely important that the growth momentum in the economy sustains, because that alone can ensure the much needed earnings growth that the market needs to remain resilient and gradually move up.”“The positive news about the auto industry is largely in the price. A sector that lagged last year was the consumer durables industry, which has the potential to catch up, going forward. The beneficial impact of the interest rate cuts and GST cuts are yet to reflect in the demand for consumer durables. In the short-term, this is one segment that has good prospects.”Auto stocks gained, helping lift broader markets, while weakness in select FMCG names capped overall upside. In contrast, ITC extended its sharp decline under sustained pressure following a wave of brokerage downgrades that warned of earnings headwinds stemming from the government’s recent increase in cigarette taxes. ITC’s weakness dragged the fast-moving consumer goods index down 1.4%.On the institutional side, Foreign Institutional Investors sold equities worth about Rs 3,269 crore on January 1, while Domestic Institutional Investors provided some support, buying shares worth Rs 1,526 crore.Globally, equities began 2026 on a firmer note in thin holiday trading, extending the late-December rally. Investors are looking ahead to a year expected to test the strength of the AI-driven market boom, navigate a leadership transition at the US Federal Reserve and contend with potentially higher volatility under President Donald Trump. Low liquidity kept moves across asset classes muted, with markets in Japan and China closed and several Asian exchanges reopening after the New Year break.Precious metals continued to build on their strong momentum. Spot gold climbed 0.9% to $4,351.70 an ounce, while silver surged 2% to $72.63. Gold recorded its biggest annual gain in 46 years in 2025, while silver and platinum posted record increases, driven by Federal Reserve rate cuts, geopolitical tensions, central bank purchases and exchange-traded fund inflows.In equity markets, MSCI’s Asia-Pacific index excluding Japan advanced 0.66%, while Hong Kong’s Hang Seng Index rose 1.24%. US futures traded higher, with S&P 500 futures up 0.29% and Nasdaq futures gaining 0.36%. European futures were mixed, as Euro Stoxx 50 futures slipped 0.5% while FTSE futures edged up 0.1%.Oil prices also edged higher in the first trading session of the year, rebounding modestly after logging their steepest annual fall since 2020. The move came amid renewed geopolitical concerns following Ukrainian drone attacks on Russian oil infrastructure and increased US pressure on Venezuela’s exports. Brent crude futures rose 14 cents to $60.99 a barrel by 0146 GMT, while US West Texas Intermediate crude gained 14 cents to $57.56 a barrel.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)