The first trading session of 2026 saw Sensex and Nifty close flatish, as early gains faded amid muted global cues and thin volumes. The lack of participation from global markets kept overall sentiment cautious.

The FMCG sector faced heavy selling, led by tobacco stocks after the announcement of a new excise duty on cigarettes. Shares of ITC and Godfrey Phillips India were among the biggest laggards.

According to Naresh Sharma, Head of Research at RMoney, the index structure remains sensitive at current levels. He outlines key technical zones for Nifty, which could define the near-term market direction.

Gold, silver, and crude oil also remained in focus as investors assess whether 2026 will bring continuation or consolidation in commodity trends.

🔍 In this video, we discuss:

Why Nifty and Sensex started 2026 on a weak note

What triggered the sharp fall in FMCG and tobacco stocks

Impact of excise duty on ITC and Godfrey Phillips

Gold & silver outlook for 2026

Crude oil trend and key factors to watch

▶️ Watch the full video for market insights, sector-wise analysis, and 2026 outlook.

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