Indian equity markets opened lower on Thursday, December 26, as benchmark indices faced selling pressure in thin year-end trade. At the opening bell, the BSE Sensex slipped more than 200 points, while the Nifty 50 fell below the 26,100 level, reflecting cautious investor sentiment after the Christmas holiday.
Early trade was marked by subdued volumes, with investors largely staying on the sidelines in the absence of fresh domestic or global triggers. Market participants appeared reluctant to take aggressive positions ahead of the upcoming corporate earnings season and the close of the calendar year.
On the losing side, financial and consumption-linked stocks weighed on the benchmarks. Bajaj Finance declined about 1 per cent in early deals, emerging as one of the top drags on the Sensex and Nifty. Eternal also slipped around 1 per cent, while select banking and FMCG stocks traded lower, adding to the weak opening.
In contrast, some stocks showed resilience despite the broader market weakness. Railway-related counters such as Rail Vikas Nigam Ltd (RVNL) and Indian Railway Finance Corporation (IRFC) opened higher, supported by expectations of continued government focus on infrastructure spending. Select midcap and smallcap stocks also edged up, indicating selective buying at lower levels.
Sector-wise, IT, pharma and financial stocks opened in the red, while consumer durables and infrastructure stocks showed relative strength in early trade. Analysts said the mixed sectoral trend highlights a stock-specific market rather than broad-based selling.
Market experts noted that the much-anticipated year-end rally has remained muted so far, with indices consolidating near record levels. They expect markets to stay range-bound in the near term, with direction likely to emerge only after clearer cues from earnings announcements and macroeconomic data in early 2026.