The benchmark indices Sensex and Nifty 50 were expected to open at record high on Thursday, January 1, the first session of 2026 despite thin trade.
Most global markets are closed today on account of New Year.
Early indications from the Gift Nifty also pointed to a positive opening for Indian equities. The Gift Nifty was trading at its record high – 26,341 mark, up 66 points or 0.25% compared with the previous close of Nifty futures.
Indian equities ended the last session of 2025 on a positive note, supported by healthy buying across segments as short covering emerged. Sentiment improved on hopes that the year ahead would see better earnings growth, progress on an India-US trade agreement, and renewed participation from foreign investors. The Sensex advanced 546 points, or 0.64%, to close at 85,220.60, while the Nifty 50 climbed 191 points, or 0.74%, to finish at 26,129.60.
“Markets ended the 2025 on a strong note, posting a broad-based recovery. Looking ahead, expectations are rising for a constructive rebound in 2026, supported by improving demand conditions. Investor sentiment is likely to hinge on corporate earnings and a potential uptick in nominal GDP growth. Metal stocks led gains today after the government announced import tariffs on steel products. Meanwhile, the oil & gas sector outperformed on the back of anticipated stable demand and stronger refining margins,” Vinod Nair, Head of Research, Geojit Investments Limited.
Here are the key things that changed since the stock market closed yesterday and may impact Sensex, Nifty 50 movement today:
Asian Markets
Hong Kong stocks wrapped up 2025 with a second consecutive year of gains, marking their strongest annual performance in percentage terms since 2017, as an AI-led rally buoyed investor sentiment. The Hang Seng Index finished the year up 28%, ranking among the best-performing equity markets in Asia.
Mainland Chinese equities also delivered solid gains. The Shanghai Composite Index rose 18%, its best annual showing since 2019, after touching its highest closing level in a decade in August.
Meanwhile, the Shenzhen Composite Index advanced 29%, while the technology-heavy ChiNext Price Index jumped 50%. Most Asian markets are closed today for the New Year holiday.
Gift Nifty Today
The trends on Gift Nifty indicated a flat but positive start for the Indian benchmark index. The Gift Nifty was trading at a new high of 26,341, up 66 points or 0.25% from the Nifty futures’ previous close.
Wall Street
Wall Street closed out another banner year for stocks Wednesday with a downbeat finish that extended the market’s recent losing streak to a fourth day.
The S&P 500 gave up 0.7%, the Dow Jones Industrial Average fell 0.6% and the Nasdaq composite closed 0.8% lower. Trading volume was very thin ahead of the New Year’s Day holiday, when markets will be closed, as most big investors have already closed out their positions for the year.
Even with their mini post-Christmas pullback, the major U.S. stock indexes finished with strong gains for the year.
US imposes new sanctions
The United States Department of the Treasury on Wednesday (local time) imposed sanctions on four companies operating in Venezuela’s oil sector and identified four oil tankers as blocked property, according to an official release.
The move is part of President Donald Trump’s renewed efforts to increase pressure on the Venezuelan President Nicolas Maduro.
The sanctions announced on Wednesday are aimed at four companies and their linked oil tankers, which are accused of being involved in the transport of Venezuelan oil.
US Dollar
The dollar edged slightly higher but stayed on track for a year-on-year decline, pressured by interest rate cuts, fiscal concerns and President Donald Trump’s unpredictable tariff policies.
The dollar index, which tracks the greenback against a basket of major currencies including the yen and the euro, rose 0.01% to 98.25. The euro was up 0.02% at $1.1748.
Against the Japanese yen, the dollar gained 0.17% to trade at 156.65.
Gold and silver Prices
Gold prices have surged roughly 80% this year – its steepest annual rise since 1979 – fueled by US interest rate cuts, expectations of further monetary easing, geopolitical tensions, heavy central bank purchases, and robust ETF inflows. Prices eased from recent peaks as traders booked profits following a margin hike on precious metal futures by the CME.
Silver’s sharp 178% rally this year marks a decisive structural turning point, not a speculative blow-off. The price action reflects a global repricing driven by acute physical scarcity, rapidly expanding industrial demand, ongoing monetary dilution, and a clear shift of price discovery toward Asia, particularly China.
Oil prices
Oil ended the year with its sharpest annual decline since 2020, as markets grappled with broad geopolitical risks and steadily increasing global supply. Expectations of a sizable surplus are likely to keep pressure on prices in 2026.
West Texas Intermediate slipped 0.9% to settle at $57.42 a barrel, marking a roughly 20% fall for the year. In the near term, traders are watching an upcoming OPEC meeting along with US President Donald Trump’s policy stance toward major producers such as Russia, Iran and Venezuela.