Mumbai, Jan. 2 -- Indian equities struck a positive note early in the new year, with the Nifty 50 scaling record highs on the second trading day of 2026, amid optimism around December-quarter earnings and expectations of a pro-growth Union budget.

On Friday, Nifty 50 settled at 26,328.55, up 0.7%. Sensex ended 0.7% higher at 85,762.01, tad shy of hitting its closing all-time high of 85,836.12 hit on 26 September.

Gains in HDFC Bank, ICICI Bank and Reliance Industries drove the benchmark indices higher. Financial services, oil and gas, and information technology stocks did most of the heavy lifting, with the Bank Nifty also scaling a record close of 60,150.95.

"Sector outcomes in 2026 are likely to be driven by earnings visibility rathe...