Nifty Below 26,350; PSU Bank Stocks Shine

Asia-Pacific markets began the first full trading week of 2026 on a stronger note after the U.S. said it had attacked Venezuela and captured President Nicolas Maduro over the weekend.

US stocks mostly edged higher on Friday as Wall Street kicked off trading in 2026 after its third consecutive year of double-digit percentage gains. The tech-heavy Nasdaq Composite fell below the flat line, despite gains in semiconductor giants

Here's a table showing how US stocks performed on Friday:

Stock/Index LTP Change ($) Change (%) Day High Day Low 52-Week High 52-Week Low
Alphabet 315.32 1.52 0.48% 322.91 310.65 328.67 142.66
Apple 271.01 -0.85 -0.31% 277.84 269.00 288.61 169.21
Meta 650.41 -9.68 -1.47% 664.39 643.50 796.25 479.80
Tesla 438.07 -11.65 -2.59% 458.34 435.30 498.82 214.25
Netflix 90.99 -2.77 -2.95% 94.13 90.81 134.12 82.11
Amazon 226.50 -4.32 -1.87% 235.46 224.70 258.60 161.43
Microsoft 472.94 -10.68 -2.21% 484.66 470.16 555.45 344.79
Dow Jones 48382.39 319.10 0.66% 48404.06 47853.04 48886.86 36611.78
Nasdaq 25206.17 -43.68 -0.17% 25597.65 25086.36 26182.10 16542.20

Source: Equitymaster

At present, the BSE Sensex is trading 35 points lower, and the NSE Nifty is trading 14 points lower.

ONGC, SBI and Hindalco are among the top gainers today.

Trent, Tech Mahindra, and Apollo Hospital, on the other hand, are among the top losers today.

The BSE Midcap index and the BSE Smallcap index are trading 0.3% higher

Sectoral Indices are trading mixed today, with stocks in the healthcare sector and the FMCG sector witnessing selling pressure. Meanwhile, stocks in the PSU Bank sector and the oil & gas sector are witnessing a buying spree.

The rupee is trading at Rs 90.23 against the US dollar.

Speaking of stock markets, Research Analyst at Equitymaster, Tanushree Banerjee, aid that health-tech business models have so far remained largely unaffected by tariffs and similar pressures.

However, she noted that pricing continues to be skewed in favour of clients, as outsourced service models are inherently vulnerable to price wars.

This risk is heightened by competition from smaller, aggressive players and ongoing cost-cutting efforts by clients.

Against this backdrop, two companies stand out. Listen in to know why.

 

Marico Guides Q3 Volume Growth

Marico said it expects to deliver high single-digit volume growth in its domestic business during the October-December quarter of FY26, supported by a marginal sequential improvement, according to its quarterly update ahead of the results announcement.

On a consolidated basis, the company reported revenue growth in the high twenties on a year-on-year basis during the quarter.

The company noted that demand trends remained steady over the period and expressed confidence about a gradual pickup in consumption in the coming quarters. This optimism is underpinned by easing inflation, lower GST rates improving affordability, higher minimum support prices, and a healthy crop sowing season.
 

Hindustan Zinc Q3 Update

Hindustan Zinc Limited reported a steady improvement in production volumes during the December quarter, driven by higher ore output, debottlenecking measures, and improved plant availability.

In its production update for the third quarter ended December 31, 2025, the company said mined metal production rose 4% year-on-year to 276 kilo tonnes (kt). Saleable metal output also increased 4% to 270 kt, reflecting higher refined metal production during the quarter.

Refined zinc production climbed 8% year-on-year to 221 kt, supported by the commissioning of debottlenecking projects at the Chanderiya and Dariba smelters, the ramp-up of the 160 ktpa roaster at Debari, and better operational availability across facilities.

Refined lead production declined 11% year-on-year to 49 kt, primarily due to lower availability at pyro plants during the quarter, following lead-only pyro operations in the corresponding period last year.

Silver production stood at 158 metric tonnes, remaining largely flat on a year-on-year basis. Meanwhile, wind power generation rose 5% to 50 million units, aided by favourable wind conditions.

Hindustan Zinc is an India-based energy transition metals company.

The company is engaged in exploring, extracting and processing of minerals and manufacturing of metals and alloys.
 

HINDUSTAN ZINC Share Price Chart (Rs) - 3 Months


Adani Enterprises NCD Issue

Adani Enterprises, the flagship company of billionaire Gautam Adani, is set to launch its third Non-Convertible Debenture (NCD) issue this week, aiming to raise Rs 1,000 crore from the public, according to an exchange filing dated 2 January 2026.

This marks the company's third fundraising through NCDs, following a successful second issue in July 2025, during which it also raised Rs 10 bn under a similar structure.

As per the BSE filing, the NCD issue will open on Tuesday, 6 January 2026, and close on Monday, 19 January 2026.

The offering includes a base issue of Rs 5 bn, along with a greenshoe option to raise an additional Rs 5 bn from investors.

Adani Enterprises NCDs will attract a yield (return) of up to 8.9% per annum, offering competitive yields compared to similarly rated NCDs and fixed deposit rates.


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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity ...

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