Stock market today: Trade guide for Nifty 50, gold, silver rates to USD vs INR — Eight stocks to buy or sell on Friday
Stock market today: The Indian stock market indices closed on a mixed note after the first trading session of the year on 1 Janaury 2026, amid stock-specific action and a lack of fresh triggers in the market. The Nifty 50 index closed 0.06% higher at 26,146.55 points after Thursday’s stock market session, compared to 26,129.60 points at the previous market close, according to the exchange data.
The BSE Sensex index closed 0.04% lower at 85,188.60 points, compared to 85,220.60 points at the previous market session.
Stock market today
Vinod Nair, Head of Research, Geojit Investments Ltd, said that the Indian stock market started the year with a range‑bound session amid thin trading volumes and foreign institutional investors (FII) outflow.
“The domestic market started the year with a range‑bound session and ended slightly higher amid thin trading due to global holidays and continued FII selling,” he said.
“In the days ahead, Q3 earnings, budget expectations, and global cues such as the India‑US trade deal and potential Fed actions are expected to guide market direction, with earnings growth likely to remain the key driver in 2026,” said Vinod Nair.
The analysts at Bajaj Broking expect the Nifty 50 index to likely move higher toward the key resistance zone of 26,250–26,350 points, where some pause or consolidation can be expected. On the downside, 26,000 points stand out as the immediate support level.
Gold, Silver rates today
The Multi-Commodity Exchange (MCX) data showed that the gold prices dropped 0.08% or ₹114 per 10 grams to ₹135,690 per 10 grams as of 5:30 p.m. (IST), compared to ₹135,804 per 10 grams, according to the official data.
Speaking on the outlook of gold price today, Ponmudi R, CEO at Enrich Money, said, “The sequence of higher highs and higher lows remains firmly in place, with prices holding comfortably above the 20-day EMA near ₹1,33,980 and within a rising channel. Domestic prices are stable, supported by a relatively steady rupee and limited overnight global cues. A decisive move above ₹1,35,700 could open the path toward ₹1,36,000 to ₹1,36,500, while immediate support is placed at ₹1,34,500, followed by a stronger base near ₹1,33,500. The broader bias continues to favour buying on declines.”
While silver prices on the MCX closed 0.03% or ₹73 per kilogram lower at ₹235,800 per kilogram as of 5:30 p.m. (IST), compared to ₹235,873 per kilogram.
On the outlook of MCX silver rates today, Ponmudi R said, “Supported by both safe-haven demand and accelerating industrial usage, silver continues to hold strong long-term potential. Immediate support is seen in the ₹2,33,000 to ₹2,30,000 zone, while upside potential remains open toward ₹2,37,000 to ₹2,38,000 in the near term as global participation normalises. Silver remains well-positioned for relative outperformance through 2026.”
USD vs INR
Speaking on the outlook of the Indian National Rupee (INR) against the US Dollar (USD), Dilip Parmar, Senior Research Analyst, HDFC Securities, said, “The Indian rupee weakened against the US dollar as a lack of major catalysts left the market searching for direction. Thin liquidity, driven by restricted supply and persistent demand, put upward pressure on the pair as major forex markets observed New Year Holiday on Thursday. Looking ahead, USDINR is expected to trade within a near-term range, finding support at 89.40 and resistance at 90.26.”
Stocks to buy today
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, has suggested three stocks for Friday.
Shiju Koothupalakkal, Senior Manager and Technical Research Analyst of PL Capital at Prabhudas Lilladher, also recommended three stocks for Friday, 2 January 2026.
Stock picks include Indus Towers, JK Tyre & Industries, CG Power and Industrial Solutions, Steel Authority of India Ltd (SAIL), Sun Pharma, Shakti Pumps India, Fortis Healthcare, and Manappuram Finance.
Sumeet Bagadia stocks to buy today
1. Indus Towers Ltd (INDUSTOWER): Buy at ₹436; Target price at ₹468; Stop loss at ₹420.
INDUSTOWER is trading near 436 and remains firmly in a strong bullish trend, reflecting sustained buying interest and positive market sentiment. The stock has shown a sharp upward move after a prolonged consolidation, supported by strong momentum and healthy volumes.
It continues to trade comfortably above all its key moving averages, which are aligned upward, indicating a well-established and stable trend. The formation of consistent bullish candles suggests continued strength and participation from market participants. Momentum has improved sharply, with the stock marking a fresh 52-week high near 439.85. A sustained close above its higher level could lead to further upside, with a near-term target around 468, while traders should continue to monitor price action near the resistance zone for signs of breakout continuation.
On the downside, immediate support is located at 428. The Relative Strength Index (RSI) is currently at 69.52 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 420 is suggested to guard against any unexpected market reversals.
In conclusion, based on the technical analysis and current market conditions, INDUSTOWER presents a promising buying opportunity for those aiming for a 468 target, provided that appropriate risk management strategies are in place.
2. JK Tyre & Industries Ltd (JKTYRE): Buy at ₹517; Target price at ₹551; Stop loss at ₹500.
JKTYRE is currently trading at 517, the stock has recently reached its 52-week high levels of 522.4 after giving a breakout from a consolidation phase. This bullish formation signals a shift in sentiment and marks the beginning of a potential long-term uptrend.
The breakout is accompanied by a noticeable rise in volume, indicating strong market participation and fresh buying interest. The stock remains well-supported above its key moving averages — the 20-day, 50-day, 100-day, and 200-day EMAs — all of which are trending upward. This alignment confirms a solid trend structure and reflects growing confidence among investors. A sustained close above the 525 level could lead to further upside, with a near-term target of 551. Traders should closely monitor price action near the current resistance zone for signs of breakout continuation.
On the downside, immediate support is located at 509. The Relative Strength Index (RSI) is currently at 70.34 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 500 is suggested to guard against any unexpected market reversals.
In conclusion, based on the technical analysis and current market conditions, JKTYRE presents a promising buying opportunity for those aiming for a 551 target, provided that appropriate risk management strategies are in place.
Ganesh Dongre stocks to buy today
3. CG Power and Industrial Solutions Ltd (CGPOWER): Buy at ₹639; Target price at ₹660; Stop loss at ₹628.
In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around ₹660.
At present, the stock is maintaining a crucial support level at ₹628. Given the current market price of ₹639, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of ₹660.
4. Steel Authority of India Ltd (SAIL): Buy at ₹149; Target price at ₹158; Stop loss at ₹142.
We have seen a major support in this stock around ₹142. So, at the current juncture, the stock has again seen a reversal price action formation at the ₹149 price level, which may continue its rally till its next resistance level of ₹158, so traders can buy and hold this stock with a stop loss of ₹142 for the target price of ₹158 in the upcoming weeks.
5. Sun Pharmaceutical Industries Ltd (SUNPHARMA): Buy at ₹1,725; Target price at ₹1,770; Stop loss at ₹1,700.
Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹1,724 and maintaining a strong support at ₹1,700.
The technical setup indicates the potential for a price retracement towards the ₹1,770 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹1,700 offers a prudent approach to capturing the anticipated upside.
Shiju Kuthupalakkal stocks to buy today
6. Shakti Pumps India Ltd (SHAKTIPUMP): Buy at ₹739.30; Target price at ₹777; Stop loss at ₹720.
The stock after witnessing a strong run-up in the last month, had consolidated near the important 50EMA level at 723 zone with a flag pattern formation visible on the daily chart, with currently having indicated a revival with rising volume participation to improve the bias and can expect for further rise in the coming sessions.
The RSI is well-positioned and once again indicating a positive trend reversal has upside potential to carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of 777, keeping the stop loss of 720 level.
7. Fortis Healthcare Ltd (FORTIS): Buy at ₹900; Target price at ₹955; Stop loss at ₹880.
The stock has corrected quite well from the peak zone of 1,110 level and has bottomed out near the 845 zone. Thereafter, picking up, there is a decent revival with a higher low formation on the daily chart, taking support near the 875 level to improve the bias anticipating once again for further upward move in the coming sessions.
The RSI has recovered significantly from the oversold zone and is currently well placed indicating a positive trend reversal to signal a buy and can carry on with the positive move further ahead. With the chart technically looks attractive, and we suggest buying the stock for an upside target of 955 keeping the strict stop loss of 880 level.
8. Manappuram Finance Ltd (MANAPPURAM): Buy at ₹314; Target price at ₹335; Stop loss at ₹307.
The stock has gained strength in the last month with a significant rise from 270 zone to 319 level and after a short period of consolidation has once again indicated a positive candle formation to improve the bias expecting for further rise.
With the overall trend maintained positive and the RSI gaining strength, there is much upside potential visible to carry on with the positive move further in the coming sessions. With the chart technically looking attractive, we suggest buying the stock for an upside target of 335, keeping the stop loss of 307 level.
Read all stories by Anubhav Mukherjee
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
