Oil and Gas Index lost the most
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, 6 January 2026: Today, profit booking continues at higher levels, and the Nifty ends 72 points lower, while the Sensex was down by 376 points. Among sectors, the Pharma and Healthcare indices outperformed today, both rallying over 1.5 percent, whereas the Oil and Gas Index lost the most, shedding 1.80 percent. Technically, after an early morning intraday rally, the market registered profit booking again at higher levels.
We are of the view that the intraday market formation is still on the weaker side, but a fresh selloff is possible only after the breach of 26,100/84800 Below this level, the market could slip to 26,000-25,950/84500-84350. On the flip side, 26,250/85300 would be the immediate resistance zone for the bulls. Above this, the market could bounce back up to 26,350-26,380/85500-85700.
