Published on: 06 Jan, 2026 07:30

Markets are set for a positive start on January 06, 2026, buoyed by strong global gains and surging commodity prices, with GIFT Nifty signaling a gap-up opening.

Key Themes & Picks

  • GIFT Nifty signals a gap-up opening, targeting 26,350–26,400 levels.

  • Metals and energy stocks rally on near-record commodity prices.

  • Banking sector in focus amid robust Q3 business updates.

  • Key calls: Upgrades for Metropolis Healthcare and Havells India.

  • Renewable energy push puts battery storage (BESS) in the spotlight.

The Indian stock market is poised for a positive start on January 06, 2026, following upbeat global cues and steady domestic sentiment. Overnight, US equities posted gains despite geopolitical tensions, with the Dow surging over 600 points, while European indices closed higher. In Asia, markets like Nikkei rose 0.3%, adding to the optimism. GIFT Nifty futures climbed 93 points (0.35%) to 26,413, signaling a gap-up open for Nifty 50 around 26,350–26,400 levels. Brent crude oil advanced 1.7% to $61.76 per barrel amid developments in Venezuela, potentially benefiting energy stocks.

Key themes today include robust Q3 business updates from banks, a rally in metals like copper, silver, and gold (with prices hitting near-record highs), and focus on battery energy storage systems (BESS) amid renewable energy push. A total of around 30-40 unique recommendations and watchlist items emerged from credible sources, emphasizing sectors like banking, metals, and healthcare. Standout calls include Metropolis Healthcare upgraded to Buy with a ₹2,250 target by Hindu BusinessLine, Havells India as a top buy idea from Moneycontrol experts, and bullish outlooks on Nifty from multiple analysts targeting 26,500–26,800. Investors should monitor early volatility as markets digest Q3 previews and global commodity trends.

Section 1: Index Outlook

Analysts maintain a bullish stance on major indices, citing resilient earnings momentum, moderating volatility (India VIX edging higher but stable), and supportive global sentiment. Nifty 50's short-term outlook remains positive, with immediate support at 26,200–26,150 and resistance at 26,300–26,350. A breakout above 26,350 could propel it toward 26,500–26,800 in the near term. Sensex is expected to test 85,400+, backed by strong DII inflows and FII buying patterns. Bank Nifty shows strength with a 2.1% weekly surge, potentially moving above 60,200 if banking Q3 updates impress.

Index Recommendation Target/Range Key Driver Source
Nifty 50 Bullish 26,500–26,800 Earnings optimism, global cues ET Now, Moneycontrol
Sensex Bullish 85,400+ DII support, sector rotation Hindu BusinessLine, 5paisa
Bank Nifty Positive Above 60,200 Q3 credit growth momentum NDTV Profit

Dips are viewed as buying opportunities, with overall market phase in early January price discovery. Volatility may remain moderate, but Q3 earnings will dominate sentiment.

Section 2: Sector-Wise Stock Picks

Today's recommendations span key sectors, with a focus on fresh Q3 updates and commodity rallies. Banking sees mixed but watchful eyes on credit growth, while metals benefit from global price surges (copper at $13,000/ton, silver near $74/oz). Healthcare and consumer durables feature targeted buys, and renewables highlight BESS plays. Deduplicated calls prioritize today's timestamps from brokerages and news portals.

Banking & Financials

  • HDFC Bank (HDFCBANK.NS): Favourable (+49, Trending Higher). Rationale: Strong Q3 deposit growth; watch for upgrades amid RBI policy stability. Source: DarwinKnows AI.
  • State Bank of India (SBIN.NS): Favourable (+49, Overbought). Rationale: Robust advances in Q3 preview; potential for further upside on capex cycle. Source: DarwinKnows AI.
  • Kotak Mahindra Bank (KOTAKBANK.NS): Watch. Rationale: Q3 business update shows healthy momentum; monitor for analyst revisions. Source: Moneycontrol.
  • Axis Bank (AXISBANK.NS): Watch. Rationale: Positive Q3 deposit/advances; potential buy on dips amid sector recovery. Source: ET Now.
  • IndusInd Bank (INDUSINDBK.NS): Watch. Rationale: Q3 updates indicate steady growth; caution on tariff impacts. Source: Moneycontrol.
  • Union Bank of India (UNIONBANK.NS): Buy Idea. Rationale: Technical breakout; target not specified but positive intraday setup. Source: Moneycontrol Trade Spotlight.
  • Muthoot Finance (MUTHOOTFIN.NS) / Manappuram Finance (MANAPPURAM.NS): Positive. Rationale: Gold prices up 2% to near $4,400/oz; boosts NBFC-gold lenders. Source: Sharad Dubey.

IT & Tech

  • Tata Elxsi (TATAELXSI.NS): Buy Idea, CMP ₹5,363.5. Rationale: Strong technical structure; potential for further gains on AI/engineering demand. Source: ICICI Securities via Moneycontrol.

Metals & Mining

  • Vedanta (VEDL.NS): Favourable (+50, Overbought). Rationale: Commodity rally; silver/copper highs support mining ops. Source: DarwinKnows AI.
  • Hindalco (HINDALCO.NS): Favourable (+33, Overbought). Rationale: Aluminium/copper surge; global demand boost. Source: DarwinKnows AI.
  • Hindustan Zinc (HINDZINC.NS): Positive. Rationale: Silver up 5% to $74/oz; enhances earnings visibility. Source: Sharad Dubey.
  • Hindustan Copper (HINDCOPPER.NS): Positive. Rationale: LME copper at record $13,000; strong upside potential. Source: Sharad Dubey.
  • Coal India (COALINDIA.NS): Favourable (+61, Overbought). Rationale: Energy sector tailwinds; steady demand. Source: DarwinKnows AI.

Healthcare & Pharma

  • Metropolis Healthcare (METROPOLIS.NS): Buy, Target ₹2,250 (Upside ~10%). Rationale: Broke key resistance at ₹1,990; bullish short-term outlook with support at ₹2,010–₹1,990. Source: Hindu BusinessLine.

Consumer & Retail

  • Havells India (HAVELLS.NS): Buy, Target ₹1,560 (Upside ~7.5% from ₹1,451). Rationale: RSI and price trendline breakout; enter at ₹1,455–1,430. Source: Moneycontrol.
  • Trent (TRENT.NS): Watch. Rationale: Q3 updates; potential for revisions amid retail trends. Source: Moneycontrol, ET Now.
  • Dabur India (DABUR.NS): Watch. Rationale: Consumer goods focus; monitor for demand recovery. Source: ET Now Swadesh.

Energy & Renewables

  • Adani Power (ADANIPOWER.NS): Positive. Rationale: Customs duty relief; enhances margins. Source: Sharad Dubey.
  • Waaree Energies (WAAREE.NS): Watch. Rationale: Raised ₹1,003 Cr for Li-Ion; BESS expansion. Source: Moneycontrol, Sharad Dubey.
  • ONGC (ONGC.NS): Watch. Rationale: Potential $500M dividend if US lifts Venezuela sanctions. Source: ET Now.
  • Tata Power (TATAPOWER.NS): Positive. Rationale: Achieved 1 GWp rooftop solar; renewable push. Source: Sharad Dubey.

Other Sectors (Auto, Realty, Infra)

  • Hero MotoCorp (HEROMOTOCO.NS): Favourable (+43, Trending Higher). Rationale: Auto demand recovery. Source: DarwinKnows AI.
  • Maruti Suzuki (MARUTI.NS): Favourable (+36, Overbought). Rationale: Sector tailwinds. Source: DarwinKnows AI.
  • Godrej Properties (GODREJPROP.NS) / DLF (DLF.NS): Watchlist. Rationale: Realty sector momentum. Source: CA Arvind Mangal.
  • NBCC (NBCC.NS): Positive. Rationale: ₹134 Cr order win. Source: Moneycontrol, Sharad Dubey.
  • REC (RECLTD.NS): Buy Idea. Rationale: Technical positives; infra financing boost. Source: Moneycontrol.
  • SAIL (SAIL.NS): Buy Idea. Rationale: Steel rally on global cues. Source: Moneycontrol.

 

Section 3: Global & Thematic Insights

Global brokerages like Morgan Stanley and Goldman Sachs have broader 2026 outlooks favoring demand-led sectors (e.g., capex, credit), but no India-specific calls issued today. CLSA notes India's potential as a refuge amid AI unwind, though dated to late 2025. Thematically, renewables and metals shine with BESS orders (e.g., Ddev Plastiks, Rajesh Power) and solar milestones (Tata Power). BSE/NSE announcements today include minor corporate updates but no major analyst meets. Cross-border views emphasize value in midcaps, with regulatory nuggets on customs relief aiding energy players.

Conclusion & Disclaimer

Overall sentiment is bullish, with Nifty eyeing 26,500+ amid positive pre-market cues. Investors should watch banking Q3 details and metals for intraday plays. Actionable takeaway: Consider dips in Metropolis Healthcare or metals like Hindustan Copper for potential entries.

This is aggregated data for informational purposes; consult a financial advisor. Not investment advice. Pre-market snapshot – updates may evolve.

Sources & Citations



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