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Below the Quote on Daily Market Commentary for 07th January 2026 by Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd

Indian equity markets ended marginally lower for the third straight session amid global geopolitical concerns and persistent FII outflows. The Nifty50 slipped 38 points to close at 26,141 (-0.1%). Broader markets outperformed, with the Nifty Midcap100 and Smallcap100 rising 0.5% and 0.4%, respectively. On the sectoral front, IT stocks led the gains, with the Nifty IT index up 2.4%, followed by Consumer Durables, which advanced 1.7%. In contrast, the Nifty Auto index declined 0.8% due to profit booking after the recent up-move. Jewellery stocks rallied sharply on the back of strong Q3 business updates, led by Titan, Senco Gold, and Kalyan Jewellers, which gained between 4% and 11%. Titan’s consumer businesses recorded ~40% YoY growth. The company added 56 net new stores during the quarter, expanding its combined retail network to 3,433 stores backed by steady demand.  In 3QFY26, gold prices surged, rising ~60% YoY and ~20% QoQ. Despite this steep inflation, consumer demand for top brands remained resilient, supported by a strong festive season and sustained momentum during the wedding period.  In the FMCG segment, after strong business updates from Dabur and Marico, Godrej Consumer also reported better than expected performance. Standalone business is expected to deliver double-digit revenue growth (est: 8% vs 3% in 3QFY25), with close to double-digit underlying volume growth. Staples companies are expected to report sequential improvement in revenue growth with trade stabilizing after GST reduction, supported by a steady rural recovery and improving urban sentiment. On the global macro front, investor focus remains on key US labour market data, including Non-Farm Payrolls and JOLTS Job Openings, due later today. Overall, we expect markets to remain in a consolidation phase with profit booking emerging at higher levels; while sector-specific movements continue, driven by Q3 business update announcements.
 

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