WEEKLY TRENDSETTER ( JAN 9,2026)
| 2026 | DEC 26 | JAN 2 | Ch % |
| NIFTY | 26042 | 26328 | 1.10 |
| BANK NIFTY | 59011 | 59711 | 1.19 |
| USD/INR | 89.96 | 90.13 | 0.66 |
MARKET REVIEW– The market cheered the entry into the New Year with the indices touching life time highs. The year gone by was range bound compared to the previous 4 years which provided hefty gains to investors but still Nifty posted a handsome 10% return for the calendar which was a spirited performance given the events on the geo -political scene, FII selling and the rupee tumbling to 90 against the dollar. Lot of credit should go to the domestic investors who added on to stocks through mutual funds which provided cushion to the FII selling.
INTERESTING CUES
Defence gets boost
The Defence Acquisition Council has approved a massive Rs 80,000 cr stimulus for the procurement of defence items for Indian navy. The outlay, which is consistent with DAC’s annual spending spree on defence items, could serve as a boon for many listed players in the Indian defence sector. The chief beneficiaries of these are BEL, HAL, Zen Tech among others.
Coal India in the news
The PSU giant has allowed coal consumers in neighbouring Bangladesh, Bhutan and Nepal to directly participate in its e-auctions, a move aimed at expanding buyer base as domestic coal offtake has weakened during this financial year. Under the revised framework, effective 1 January, foreign buyers will be able to bid directly in the auctions. The e-auction mode accounts for around 10 per cent of CIL’s sales. Another positive news flow is the IPO of Coal India s subsidiary, Bharat Coking Coal which kicks off on Jan 9. The PM office has directed that all 8 subsidiaries of Coal India should be listed by 2030. For investors this could be welcome news as the sale proceeds of the IPO will go directly to Coal India which could reward shareholders with hefty dividends.
NIFTY –The index saw some good support coming from almost all sectors. The closing above 26300 could see the index propelling to levels of 26600-800 in the coming days.IT will set the tone for the Dec quarter earnings season next week and could give direction to the index.
BANK NIFTY-The index is going through a re adjustment phase with likes of HDFC Bank, ICICI Bank shedding some weightage while likes of Union Bank and Yes Bank should see increases as per the recent direction from the regulator. The whole process should take some weeks but on the whole a welcome step as the weightages will look more even and the Bank Nifty moves will reflect a broader participation. With a bullish engulfing pattern to begin the year, the index looks heading to levels of 60800-61000 while levels of 59000 on the downside will be critical.
Stocks on the move
Yes Bank –The stock has been an underperformer for several years after the steep slide from heady levels of 300 to 10. However, the inclusion of the stock in the Bank Nifty could just be the tonic it needs to regain lost ground. With a strong entry (25% stake) in the form of Sumitomo Mitsui Banking Corporation the bank could see improvement in fortunes in the years to come.
Zaggle Prepaid and Trident -Both these stocks have seen promoters increasing their stake. Zaggle builds financial solutions and products to manage business spends, payments and rewards through automated and innovative workflows. It has seen robust growth in revenue as well as profitability which has continued in the current financial as well. Trident is a major global player in home textiles, yarn, paper and chemicals. Performance over the last 3-4 years has been sluggish with profits clearly under pressure. However, the stock has seen a decent correction
Wishing all readers a good very Happy New Year!
Note: Any queries /clarifications may be addressed to stockmasala@gmail.com .
Krish Subramanyam
DISCLAIMER: Kindly note that I am not SEBI registered and the above content is for educational/informational use only and users should consult a registered professional before investing.