Stocks to buy: Raja Venkatraman's top picks for 2 January
Stock market recap: Indian equities ended mixed on the first trading day of 2026, as stock-specific moves and a lack of fresh triggers kept sentiment subdued. The Sensex slipped marginally, while the Nifty 50 closed slightly higher.
Midcaps outperformed, even as smallcaps edged lower.ITC was the biggest drag after its shares fell on news of a higher tobacco excise duty. ICICI Bank and Bajaj Finance also weighed on the benchmarks.
Gains in Larsen & Toubro, Infosys and Mahindra & Mahindra offered support, with investors staying cautious ahead of Q3 earnings and updates on India–US trade talks.Best stocks to buy today (All buy trades are rates of equity and sell rates are based on F&O)HEG: Buy above ₹625, stop ₹600 target ₹715 (Multiday)ABCAPITAL: Buy above ₹363, stop ₹348 target ₹395 (Multiday)UPL: Buy above ₹807, stop ₹790 target ₹830 (Intraday)The Indian equity market began 2026 on a cautious yet positive note, with the NSE Nifty extending its previous session’s momentum in early trade. Strong buying across most sectors, barring FMCG and pharma, lifted the index close to the 26,200 mark during the morning session.
However, profit booking around midday erased much of the initial gains, leading to a subdued close.At the end of trade, the Nifty settled at 26,146.55, up 16.95 points, while the Sensex slipped 32 points to finish at 85,188.60. The broader market reflected mixed sentiment, with the BSE midcap index advancing 0.3% and the smallcap index ending flat.
The trading pattern remained narrow, highlighting consolidation at higher levels. Among Nifty constituents, Eternal, NTPC, Bajaj Auto, Shriram Finance, and Wipro emerged as top gainers, while ITC, Bajaj Finance, Dr Reddy’s Labs, ONGC, and Tata Consumer were notable
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