🌍 Global Market Trends

Global cues are mixed but not risk-off. The big takeaway: the US ended the week with mild profit-booking, while parts of Asia started 2026 with better risk appetite.

• S&P 500: around 6,858 on Jan 2, 2026 (down on the day).

• Dow Jones: around 48,106 on Jan 2, 2026.yahoo finance

• Nasdaq Composite: around 23,242 on Jan 2, 2026 (soft session).

In Asia, Hong Kong had a strong start:

• Hang Seng: closed around 26,189.79 (up over 2% on the day, per reports).

On commodities, crude is still not showing a runaway spike:

• Brent traded near $61 (Reuters reported around $61.27).

• Another widely-tracked close for Brent (Jan 2, 2026) is around $60.75.

Why this matters for India this week: global markets are not giving a “panic” signal. But the US softness suggests we should avoid assuming a one-way rally—India can still stay strong, but expect dip-and-rise moves rather than straight up.

📊 Indian Markets Weekly View: Latest Market Snapshot

Here are the latest available closing levels (end of Jan 2, 2026):

• Nifty 50: 26,328.55 (fresh record close)

• Sensex: 85,762.01

• Bank Nifty: 60,150.95 (Jan 2 close, widely reported)

• India VIX: around 9.45 on Jan 2 (still low-volatility zone)

Market mood: the trend is positive, but because VIX is low, moves can look “slow” until suddenly they are not. Low VIX weeks often break into faster swings when volumes return.

📈 🧭 Key Levels to Watch

✅ Nifty 50 Support & Resistance

Last week, Nifty made a new high and closed at 26,328.55.

Support zones (buying interest):

• 26,150 – 26,100 (first cushion; keeps trend healthy)

• 26,000 (psychological + options base zone)

Resistance zones (profit supply):

• 26,400 (options ceiling showing up)

• 26,500 (next extension zone if breakout sustains)

Simple reading: As long as Nifty holds above 26,000, dips may get bought. If it starts closing below 26,000, then market may shift into a deeper cooling phase.

✅ Bank Nifty Support & Resistance

Bank Nifty is strong, with the latest close around 60,150.95.

Support:

• 59,200 – 59,000

• 58,600 (stronger base if any sharper dip comes)

Resistance:

• 60,200 – 60,300 (near-term hurdle zone visible in recent range)investing

Weekly feel: Banks are still supportive, but it may take one strong push (earnings + flows) to break and hold above 60k.

✅ Sensex Support & Resistance

Sensex closed at 85,762.01.

Support:

• 85,200 – 85,000

• 84,700

Resistance:

• 86,000 – 86,200 (near-term psychological + supply area)

🧾 🔥 Derivatives: Open Interest + Put Call Ratio

This is where the weekly range becomes clearer.

Nifty Options (near-term)

A derivative note highlighted:

• Highest Call OI near 26,400

• Highest Put OI near 26,000

That gives a clean “box”:

• Support base: 26,000

• Upper cap: 26,400

PCR (Put-Call Ratio)

PCR readings vary by source and method (total OI vs selected strikes), but one live analysis showed PCR around 1.64 for 2 Jan (view), indicating heavier put positioning.

How to use it simply:

• PCR above 1 = market participants are not expecting a crash immediately (often supportive)

• But if price fails to rise despite high PCR, it can mean “crowded trade,” and markets may chop.

💰 FII & DII Overview (Last Week)

The latest daily numbers (useful for the week’s tone):

• 02 Jan 2026: FIIs net buyers ~₹289.80 cr, DIIs net buyers ~₹677.38 cr (cash).

• 01 Jan 2026: FIIs net sellers ~₹3,268.60 cr, DIIs net buyers ~₹1,525.89 cr (cash).

Weekly takeaway: Domestic support is steady. FIIs are mixed (some sessions strong selling, some buying). This combination usually creates:
➡️ range + stock-specific rallies rather than a smooth straight-line move.

🏛️ SEBI Updates and Market Impact

A meaningful latest update: SEBI has moved on merchant banking overhaul with revised net worth and liquidity norms (phased rollout).
SEBI’s circulars page also lists the Jan 2, 2026 item on consequential requirements related to the merchant bankers regulation amendment.

Impact (simple):

• This is a long-term market hygiene step.

• Positive for IPO ecosystem credibility and risk control.

• Not a “Monday gap-up” trigger, but good for confidence in the primary market system.

🧾 IPO Updates

Early January is usually calmer for mainboard, and this week looks similar:

• Economic Times notes no mainboard activity in the first week, with SME issues in focus.

• Zerodha IPO page lists SME IPOs like Gabion Technologies (6–8 Jan 2026), Yajur Fibres (7–9 Jan 2026), Victory Electric Vehicles (7–9 Jan 2026).

Also in headlines:

• Bharat Coking Coal (Coal India arm) reported to launch IPO Jan 8–Jan 13, 2026 (as per ET report).

What to do as investors: If applying in SME IPOs, stick to your risk budget—SME listings can be volatile.

🛢️ Commodities Market

🟡 Gold

Gold demand story remains active as prices cooled from record zones and physical markets adjusted. Reuters noted Indian physical market moving to premiums after a correction, with domestic prices around ₹135,752per 10g being discussed.
For city-wise rates, Financial Express carried Jan 2 updates (city/karat-wise).

⚪ Silver

Silver has been extremely strong and volatile.

• Mint reported MCX silver futures around ₹2,36 599per kg on Jan 2.
  (You can mention this carefully—silver is moving fast, so readers should treat it as a high-volatility asset.)

🛢️ Crude Oil (Brent)

Reuters placed Brent around $61.27 early 2026 as geopolitical risks + supply expectations played out.
Historical close references show Brent around $60.88 on Jan 2.

India angle: stable-to-soft crude is supportive for inflation and macros.

💱 Currency Update

RBI reference rate (archives) shows:

• USDINR: 90.19 on 02-Jan-2026

Weekly lens: If USDINR stays around 90 and doesn’t spike, it usually keeps foreign-flow pressure manageable.

🔮 Weekly Range Forecast (Jan 5 – Jan 9)

Nifty 50

• Base range: 26,000 – 26,400 (options structure)Bajaj broking

• Breakout above 26,400: opens 26,500+ zone

• Slip below 26,000: can drag to 25,850–25,800 area (short-term cooling)

Bank Nifty

• Base range: 59,000 – 60,300

• Above 60k hold = stronger bullish confidence.

Sensex

• Base range: 85,000 – 86,200

• Break above 86k = positive continuation; below 85k = caution.

✅ Last Week’s Strong Performance

Index trend: Nifty ended the week at a record close (reported weekly high around 26,340 and close 26,328.55).

Two stocks that stood out (headlines-driven)

• Auto names were highlighted for strength after December sales updates in market coverage.
  (For your weekly report, you can mention “Auto pack was strong” and readers will immediately connect.)

Two sectors in focus

• Auto: strong sales updates, supported the move.

• Metals: supportive global cues were mentioned in market coverage.

🧠 Investment View

⏳ Short-term (Traders)

• Treat this as a range-first week.

• Best approach: buy near support with strict stop-loss, book partial profits near resistance.

• Don’t chase green candles near 26,400 unless breakout is confirmed by follow-through.

🏗️ Long-term (Investors)

• If you invest monthly, stick to SIP/gradual buying.

• Use dips near major supports as “accumulation windows,” not panic moments.

• Avoid overexposure in overheated themes (especially where prices moved too fast).

This Indian Markets Weekly View is for educational and informational purposes only. It is not investment advice, not a recommendation to buy/sell any security, and returns are not guaranteed. Markets involve risk. Please consult a SEBI-registered financial advisor before making investment decisions.