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EQUITY
Key gauges post strong gains amid positive global cues
Jan-02-2026

Indian equity benchmarks ended over half percent higher on Friday, with the Sensex jumping 573 points while Nifty hit its lifetime peak, powered by strong buying in Utilities, Power and PSU stocks. Unabated capital infusion by domestic institutional investors amid a sharp rally in Asian peers also supported the domestic stock market.

Some of the important factors in trade:

GST collections rise in December: Gross GST collections rose 6.1 per cent to over Rs 1.74 lakh crore in December 2025, on slow growth in revenues from domestic sales following the sweeping tax cuts.

Cigarettes, pan masala to attract addition excise duty from February 1: The government of India has made amendments to the Central Excise Act, levying an additional excise duty on cigarettes and other tobacco products effective February 1. This duty will be over and above 40% GST. 

Rupee slips against dollar: Indian rupee slipped below the 90-mark and settled the day lower against the US dollar, amid disappointing macroeconomic data and strengthening of the American currency in overseas markets.

Power stocks in watch: The government data has said that power consumption increased by nearly 7 per cent to 138.39 billion units (BU) in December 2025 from 129.39 billion units a year ago, as the use of heating appliances like geysers and blowers increased due to severe cold conditions in North India. 

Positive global cues: European markets were trading higher with mining and energy stocks leading the surge. Asian markets settled mostly higher amidst bets on future Federal Reserve interest rate cuts. However, regional trading volumes remained thin due to holidays in Japan, China and New Zealand. 

Finally, the BSE Sensex rose 573.41 points or 0.67% to 85,762.01 and the CNX Nifty was up by 182.00 points or 0.70% to 26,328.55.       

The BSE Sensex touched high and low of 85,812.27 and 85,068.88 respectively. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices ended in green; the BSE Mid cap index rose 0.97%, while Small cap index was up by 0.79%.

The top gaining sectoral indices on the BSE were Utilities up by 2.71%, Power up by 2.26%, PSU up by 2.02%, Energy up by 1.58% and Realty up by 1.46%, while FMCG down by 1.12% was the lone losing index on BSE.

The top gainers on the Sensex were NTPC up by 4.67%, Trent up by 2.58%, Bajaj Finance up by 1.84%, Power Grid Corporation up by 1.57% and SBI up by 1.49%. On the flip side, ITC down by 3.79%, Kotak Mahindra Bank down by 1.04%, Axis Bank down by 0.36%, Bharti Airtel down by 0.09% and Interglobe Aviation down by 0.05% were the top losers.

Meanwhile, the government data has showed that Gross Goods and Services Tax (GST) collection increased by 6.1% to Rs 1,74,550 crore in December 2025 as compared to Rs 1,64,556 crore collected in December 2024. Of the total gross GST revenue, CGST was Rs 34,289 crore, SGST was Rs 41,368 crore and IGST was Rs 98,894 crore.

The growth in gross revenue from domestic transactions was slow at 1.2% to Rs 1,22,574 crore in the reporting month over Rs 1,21,118 crore in the corresponding month last year. Revenues from imported goods were up 19.7% at Rs 51,977 crore during December, 2025, as compared to Rs 43,438 crore in December 2024.

Further, refunds were up 30.9% to Rs 28,980 crore in December 2025 over Rs 22,138 crore in the corresponding month last year. Net GST revenues (after adjusting refunds) stood at over Rs 1,45,570 crore, up 2.2% year-on-year. 

Meanwhile, effective September 22, 2025, GST rates on about 375 items were slashed, making goods cheaper. Also, a compensation cess levy is levied only on tobacco and related products, as against luxury, sin and demerit goods earlier. The lowering of GST rates has impacted revenue collections.

CNX Nifty touched high and low of 26,340.00 and 26,118.40 respectively. There were 40 stocks advancing against 10 stocks declining on the index.     

The top gainers on Nifty were Coal India up by 7.15%, NTPC up by 4.56%, Hindalco up by 3.53%, Trent up by 2.39% and SBI up by 2.12%. On the flip side, ITC down by 3.78%, Kotak Mahindra Bank down by 1.26%, Nestle down by 1.13%, Shriram Finance down by 0.94% and Bajaj Auto down by 0.62% were the top losers.

European markets were trading higher; UK’s FTSE 100 increased 40.32 points or 0.4% to 9,971.70, France’s CAC rose 16.8 points or 0.21% to 8,166.30 and Germany’s DAX gained 109.89 points or 0.45% to 24,600.30.

Asian markets settled mostly higher on Friday, while trading volumes remained thin due to holidays in Japan and China. Traders were awaiting key US economic data due next week, including the US payrolls report and jobless data might provide additional clues on whether the next Federal Reserve chief would opt for deeper interest-rate cuts. Seoul shares rallied to a record high in the first trading session of 2026 after data showed South Korea's outbound shipments surpassed the $700 billion mark for the first time in 2025, driven by robust global demand for semiconductors and record automobile sales. Moreover, Hong Kong shares surged due to strong rally in technology shares.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

--

--

--

Hang Seng

26,338.47

707.93

2.76

Jakarta Composite

8,748.13

101.20

1.17

KLSE Composite

1,669.76

-10.35

-0.62

Nikkei 225

--

--

--

Straits Times

4,656.12

9.91

0.21

KOSPI Composite

4,309.63

95.46

2.27

Taiwan Weighted

29,349.81

386.21

1.33
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