Indices drift higher in early trade; breadth strong

The key equity barometers traded with moderate gains in early trade as the Nifty traded above the 25,950 mark. Market activity is expected to stay muted due to a lack of global economic cues and the year-end holiday season.

All the sectoral indices on the NSE were traded in green with metal, media and oil & gas shares leading the gains.

At 09:25 IST, the barometer index, the S&P BSE Sensex advanced 120.25 points or 0.14% to 84,784.93. The Nifty 50 index added 47.50 points or 0.18% to 25,985.75.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.45% and the S&P BSE Small-Cap index added 0.49%.

The market breadth was strong. On the BSE, 2,040 shares rose and 823 shares fell. A total of 173 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,844.02 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,159.81 crore in the Indian equity market on 30 December 2025, provisional data showed.

Stocks in Spotlight:

Bharat Forge advanced 1.23% after the company has received a contract worth Rs 1,661.9 crore from the Ministry of Defence for the supply of 255,128 CQB carbines (5.56 x 45 mm) to the Indian Army. The contract stipulates order execution within five years.

Power Grid Corporation of India rose 0.77%. The company has been declared the successful bidder for the selection of battery energy storage developers for setting up a cumulative capacity of 2,000 MWh (1,000 MW x 2 hours) of standalone battery energy storage systems in Andhra Pradesh.

The project comprises a 150 MW/300 MWh battery energy storage system at the 400/220 kV substation at Kalikiri in Chittoor district, Andhra Pradesh.

RITES rallied 3.60% after the company has received a Letter of Award for the supply of in-service Cape gauge diesel-electric locomotives from Berhard Development Corporation, Zimbabwe. The order is valued at $3.6 million.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.24% to 6.592 as compared with the previous close of 6.576.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 89.8800 compared with its close of 89.7500 during the previous trading session.

MCX Gold futures for 5 February 2026 settlement shed 0.60% to Rs 134,822.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 98.27.

The United States 10-year bond yield rose 0.05% to 4.131.

In the commodities market, Brent crude for February 2025 settlement declined 10 cents or 0.16% to $61.23 a barrel.

Global Markets:

Asia market fell on the holiday-shortened and final trading day of the year.

Markets in Hong Kong and Australia will close early for the holidays, while Japan and South Korea are shut for the day.

China's economy ended the year on a slightly less gloomy note, as factory activity expanded in December for the first time since March, beating expectations, according to official data released Wednesday.

The official manufacturing purchasing managers index rose to 50.1 in December, higher than 49.2 reading that was recorded in November. A reading above 50 indicates expansion.

Overnight in the U.S., the S&P 500 fell modestly, notching a third consecutive losing session. The broad market index lost 0.14% and closed at 6,896.24, while the Nasdaq Composite slipped 0.24% and settled at 23,419.08. The Dow Jones Industrial Average shed 0.20% and ended at 48,367.06.

The three major averages have slumped to start the week, dragged down by losses in tech. Nvidia posted back-to-back losing sessions, as did another AI stock Palantir Technologies.

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