New Delhi, Jan. 2 -- Indian equity benchmarks commenced the 2026 calendar year on a muted note, with Nifty 50 settling at 26,146.55, marginally higher, while BSE Sensex edged 32 points lower to close at 85,188.60.

The session saw thin liquidity due to the global New Year holidays and a sharp divergence in sectoral performance. Nifty Auto led the gainers, rising more than 1% on the back of robust December sales figures, complemented by steady buying in the IT and Realty sectors.

However, these gains were largely neutralized by a sharp sell-off in the FMCG pack, which declined more than 3%. This decline was primarily triggered by ITC, which plunged nearly 10%, following a government notification that increased excise duty on tobacco produ...