On Friday, January 2, 2026, foreign portfolio investors/foreign institutional investors (FPIs/FIIs) bought Indian shares net worth Rs 290 crore. Meanwhile, Domestic Institutional Investors (DIIs) bought Rs 677 crore in Indian markets. FPIs/FIIs bought shares worth Rs 7,850 crore, while sold shares worth Rs 7,561 crore. Talking about DIIs, they bought shares worth Rs 15,350 crore and sold shares worth Rs 14,672 crore.
FIIs/FPIs were net sellers last year. They sold Indian equity shares worth Rs 2.92 lakh crore. On the other hand, DIIs boosted the market with their purchases. Their purchases have reached Rs 7.85 lakh crore so far this year.
How was the market performance?
Nifty continued its bullish trend for the third consecutive session on Friday, January 2 and closed at a new record high of 26,328, rising 182 points. After a mild positive start, the index maintained sustained momentum throughout the day and even hit a new high of 26,340 before closing near the day’s high. Turnover remained strong in the cash segment of NSE. It increased by 28% compared to the previous session. This is a sign of increased market share. On a weekly basis, Nifty rose 1.10%, further strengthening the existing bullish momentum.
Vinod Nair, Research Head, Geojit Investments Limited Says that auto and PSU banking sectors witnessed strong growth. Whereas, sectoral rotation was clearly visible in the utilities sector. Strong growth in auto sales in December shows a broad-based improvement in economic activity in the festive quarter. Improvement in asset quality and expectations of faster credit growth drew investors’ focus towards PSU banking stocks. After a period of consolidation, utility stocks rose on expectations of rising demand and increased industrial activity. On the contrary, FMCG stocks came under selling pressure after the government announced higher excise duty on cigarettes. Due to this, the FMCG index fell by almost 4% in a week.
Technical view on the market
Nagaraj Shetty, Senior Technical Research Analyst, HDFC Securities Says that the underlying trend of Nifty is bullish. The next upside target in the next one to two weeks is around 26,750 (61.8% Fibonacci Extension taken from April low to June high and August low). Immediate support for Nifty is at 26,200.
Moreover, the index is trading above all major short-term and long-term moving averages, suggesting that the broad trend remains positive. MACD has generated a new buy crossover on the daily timeframe, while RSI has moved above the 60 mark, indicating strong momentum.
Nilesh Jain Head – Technical & Derivatives Research Analyst (Equity Research), Centrum Broking Said that now with the base shifting to 26,100 zone, the way for Nifty to reach 26,500 level in the short term seems open.
bank nifty view
Nilesh Jain of Centrum Broking Said that with the confirmation of bullish flag-and-pole pattern breakout, Bank Nifty may move towards 61,500 in the short term and thereafter towards 62,500. The immediate support for Bank Nifty lies at the 21-day DMA located near 59,300.
Additionally, rollover data is showing relatively strong momentum, with rollovers increasing to 77.46 percent, slightly higher than the three-month average. Jain believes that based on these indicators, Bank Nifty may continue to outperform the Nifty index in the short term.
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