Metal, PSU bank and oil & gas shares advanced, while media, realty and pharma shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 301.93 points or 0.36% to 83,878.17. The Nifty 50 index gained 106.95 points or 0.42% to 25,790.25. In the past five consecutive trading sessions, the Sensex declined 2.54% while the Nifty fell 2.45%.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.41% and the S&P BSE Small-Cap index fell 0.68%.

The market breadth was weak. On the BSE, 1,569 shares rose and 2,721 shares fell. A total of 200 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 4.05% to 11.37.

Economy:

India's foreign exchange reserves fell by $9.809 billion to $686.801 billion in the week ended January 02, 2026, showed data shared by the Reserve Bank of India on Friday.

Foreign currency assets (FCAs), the largest component of the reserves, fell by $7.622 billion, standing at $551.99 billion, the data showed.

India's Special Drawing Rights (SDRs) with the International Monetary Fund dropped by $25 million to $18.778 billion, while the country's reserve position in the IMF decreased by $105 million to $4.771 billion as of December 26.

Gold reserves, too, decreased by $2.058 billion during the week to $111.262 billion.

India's consumer inflation rose to 1.33% in December, accelerating from 0.71% in the prior month. Inflation has remained below the lower tolerance band of the Reserve Bank of India's (RBI) 2'6% target range for five of the past six months but is now expected to move closer to the central bank's 4% target as base effects turn unfavourable.

India-US trade deal updates

Sergio Gor took charge as US Ambassador to India on Monday and said India and the United States remain actively engaged on trade issues. He said the next round of talks could take place as early as tomorrow. Gor stressed that dialogue continues despite tariff and market-access differences.

He described the relationship as resilient and said disagreements do not derail broader cooperation. Gor added that President Donald Trump has sent his best wishes to Prime Minister Narendra Modi. He also announced that India will be invited next month to join Pax Silica as a full member, expanding cooperation in semiconductors, AI and critical supply chains alongside partners such as Japan, South Korea, the UK and Israel.

IPO Update:

The initial public offer (IPO) of Bharat Coking Coal received bids for 10,27,36,22,400 shares as against 34,69,46,500 shares on offer, according to stock exchange data at 15:30 IST on Monday (12 January 2026). The issue was subscribed 29.61 times.

The issue opened for bidding on Friday (9 January 2026) and it will close on Tuesday (13 January 2026). The price band of the IPO is fixed between Rs 21 and 23 per share. An investor can bid for a minimum of 600 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Metal index climbed 1.99% to 11,315.75. The index tumbled 3.72% in the past three consecutive trading sessions.

Hindustan Copper (up 4.59%), Hindustan Zinc (up 3.64%), Vedanta (up 2.94%), Tata Steel (up 2.64%), Steel Authority of India (up 2.24%), Hindalco Industries (up 2.11%), JSW Steel (up 2%), NMDC (up 1.50%), Jindal Steel (up 1.22%) and APL Apollo Tubes (up 0.86%) advanced.

On the other hand, Welspun Corp (down 1.70%) and Lloyds Metals & Energy (down 0.96%), edged lower.

Stocks in Spotlight:

Avenue Supermarts (Dmart) rose 0.49%. The company consolidated net profit rallied 18.26% to Rs 855.92 crore in Q3 FY26 as against Rs 723.72 crore in Q3 FY25. Revenue from operations rose 13.32% to Rs 18,100.88 crore in Q3 FY26 as against Rs 15,972.55 crore in Q3 FY26.

Tejas Networks tumbled 8.45% after the company reported a consolidated net loss of Rs 196.55 crore in Q3 FY26, compared with a net profit of Rs 165.67 crore recorded in Q3 FY25. The company's total revenue from operations plunged 88.38% to Rs 306.79 crore in Q3 FY26, down from Rs 2,642.24 crore recorded in the corresponding quarter of the previous year.

Indian Renewable Energy Development Agency (IREDA) gained 3.84% after the company's consolidated net profit rallied 15.42% to Rs 1,381.36 crore on 26.80% increase in total revenue from operations to Rs 6,135.08 crore in Q3 FY26 over Q3 FY25.

Globus Spirits slipped 3.98%. The company's standalone net profit skyrocketed over fifteen times to Rs 31.42 crore on a 19.1% increase in revenue from operations (excluding excise duty) to Rs 716.39 crore in Q3 FY26 over Q3 FY25.

Shakti Pumps India jumped 5.19% after the company received letter of award (LoA) for setting up 16,780 stand‐alone off‐grid DC solar photovoltaic water pumping systems (SPWPS) pumps in Karnataka. The contract is valued at Rs 654.03 crore and is expected to be executed on or before 31st March 2026.

Signatureglobal (India) dropped 6.54% after the company flagged a slowdown in demand and said it will miss its earlier pre-sales guidance for FY26. In a regulatory filing on 11 January 2026, the real estate developer reported a 27% decline in pre-sales to Rs 20,200 crore in Q3 FY26 compared with 27,700 crore posted in Q3 FY25.

Maruti Suzuki India added 0.65%. The company said that its board approved the acquisition of land at the Khoraj Industrial Estate from Gujarat Industrial Development Corporation (GIDC) to expand production capacity, driven by growing market demand, including exports.

Cupid advanced 2.30% after the company announced that a meeting of the board of directors will be held on Thursday, 29 January 2026, to consider the declaration of bonus shares and the Q3 results.

Mahindra & Mahindra (M&M) rose 0.34%. The company reported a 25.41% increase in production to 68,992 units in December 2025, compared with 55,015 units in December 2024.

Embassy Developments hit an upper circuit of 5% after the company reported pre-sales of approximately Rs 1,392 crore in Q3 FY26, up 240% QoQ from Rs 409 crore in Q2 FY26.

Alembic Pharmaceuticals shed 0.23%. The company announced that it has received tentative approval from the US Food & Drug Administration (USFDA) for its supplemental Abbreviated New Drug Application (sANDA) for Bosutinib Tablets, 400 mg.

Global Markets:

Most European markets declined on Monday as investors weighed geopolitical developments in Iran and renewed pressure on Federal Reserve Chair Jerome Powell.

Most Asian markets ended higher, tracking gains on Wall Street from last week after a US jobs report showed that the unemployment rate fell, signaling resilience in the labor market. South Korea's Kospi closed at an all-time high today as Asia-Pacific markets advanced. Japanese markets were closed for a holiday.

Investors will be keeping an eye on oil prices as Iran entered a third week of protests, which have reportedly seen more than 500 people killed. President Donald Trump is weighing options for intervention in Iran, media reports said.

On Sunday, Japanese Prime Minister Sanae Takaichi's coalition partner, Hirofumi Yoshimura, said that she may call an early general election. His comments come after domestic media reported that Takaichi was considering a snap election in February, citing government sources.

On Friday stateside, the S&P 500 rose to new highs on Friday, notching a weekly gain, following the release of the latest jobs report.

The broad market index closed up 0.65% to 6,966.28, a fresh record close. It also notched a new all-time intraday high in the session.

The Nasdaq Composite gained 0.81% to 23,671.35. The Dow Jones Industrial Average added 237.96 points, or 0.48%, to end at 49,504.07, scoring a new closing record as well.

The December jobs report showed nonfarm payrolls increasing by 50,000 last month, less than the 73,000 estimate that was widely reported in the media. That data, though slightly weaker than expected, showed a U.S. economy that's still trudging along, with investors anticipating that growth will ramp up.

The unemployment rate inched down to 4.4%, while widely circulated media reports had provided a forecast of 4.5%. Traders took that as a sign that improvement in the economy would happen soon.

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