Top Stories | Nifty steady, Maruti hits record, sin-tax & GST updates, and more

India kicked off 2026 with mixed signals. Household borrowing remains at a manageable 41.3% of GDP, though experts warn that reckless lending could pose risks. GST collections in December show early signs of stabilisation after rate cuts, offering reassurance for government revenues. Meanwhile, policy moves such as higher excise duty on cigarettes and a machine-based cess on pan masala mark a major recalibration of the country’s sin-tax framework.

Markets closed near flat on Thursday, with the Sensex

slipping 32 points to 85,189 while the Nifty edged up 17 points to 26,147. Broader indices outperformed frontline stocks, with market breadth favouring advances. Auto stocks shone in December, with Maruti Suzuki posting a 42-year wholesale high and all 15 Nifty Auto stocks closing positive. The rupee, however, started the year on a weaker note, falling 11 paise to 89.99 against the US dollar amid continued foreign fund outflows.

Overseas, 2026 began on a tragic note with a deadly explosion at a crowded bar in Crans-Montana, Switzerland, killing around 40 and injuring 100. In politics, Zohran Mamdani was sworn in as New York City’s first Muslim mayor, promising rent freezes, free buses, and childcare—a move seen as significant for Democratic strategies ahead of midterms.

The pharmaceutical sector eyes 2026 as a transformative year, particularly for weight-loss therapies. Mounjaro, Wegovy, and Ozempic entered the Indian market in 2025, with Mounjaro emerging as a frontrunner, generating nearly ₹500 crore in sales in just seven months.

As we step into the new year, here are the top 10 stories you need to know today.

Market closes near flat as Nifty holds above 26,100 despite sharp ITC fall  



The Sensex closed 32 points lower at 85,189, while the Nifty rose 17 points to settle at 26,147. Broader markets relatively outperformed frontline indices, with market breadth favouring advances. 

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Rupee starts 2026 on a negative note; falls 11 paise to 89.99 against dollar in early trade



The rupee started the new year on a negative note and depreciated 11 paise to 89.99 against the US dollar in early trade on Thursday (January 1), weighed down by persistent foreign fund outflows.

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Explained | Why the govt raised excise duty on cigarettes, introduced machine-based cess on pan masala  



The Union government’s recent changes to excise duty on cigarettes and the introduction of a machine-capacity-based cess on pan masala mark one of the most significant recalibrations of India’s sin-tax framework since the rollout of GST in 2017. While industry groups have questioned the timing and design of the move, the government argues that the changes are long overdue, constitutionally sound, and essential to prevent revenue leakage, protect public health, and fund national security needs. 

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December Auto Sales: Maruti Suzuki hits 42-year wholesales high; Ashok Leyland up 3%  



Auto stocks ended the previous session, also the last day of the calendar year 2025, on a positive note, with all 15 stocks in the Nifty Auto index reporting gains, led by TVS Motor, Tube Investments of India, Eicher Motors, Bosch and Tata Motors PV. 

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India’s household borrowing at 41.3% of GDP is manageable, but reckless lending is a risk, say experts  



India’s household borrowing, which has climbed to 41.3% of GDP, remains manageable for now, but experts have cautioned that reckless lending could turn this credit expansion into a source of stress for the financial system. 

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GST collections show early signs of stabilisation in December after rate cuts; imports, refunds shape revenue mix



India’s Goods and Services Tax (GST) collections in December 2025 point to a gradual stabilisation in revenue momentum after the sharp GST 2.0 rate rationalisation implemented in September, offering reassurance that tax buoyancy is holding up even as effective rates are lower.

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MP minister Vijayvargiya 'muddies the waters' with crass words on Indore diarrhoea outbreak 



Senior Madhya Pradesh Minister Kailash Vijayvargiya has triggered a political firestorm after he used an objectionable word on camera when sharply questioned by a TV journalist about a deadly water contamination crisis in his own constituency in Indore. 

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Around 40 killed, 100 injured in explosion in Swiss ski resort bar, police say  



Around 40 people have been killed and 100 injured, most of them seriously, after an explosion tore through a crowded bar during a New Year's Eve party in the upscale ski resort of Crans-Montana, Swiss officials said on Thursday. 

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Zohran Mamdani sworn in as New York City mayor; 'Big Apple' gets its first Muslim head  



Mamdani, a 34-year-old former state lawmaker, promised a freeze on rents and free buses and childcare, building a campaign around affordability issues that some have seen as a path forward for his Democratic Party around the country ahead of midterm elections.  

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2026: A pivotal year for weight-loss drugs and Indian pharma companies  



The year 2025 proved to be a turning point for weight-loss drugs in India, as all three major GLP-1 therapies, Mounjaro, Wegovy and Ozempic, finally entered the domestic market. Among them, Mounjaro has emerged as the clear frontrunner, clocking nearly ₹500 crore in sales within just seven months of launch, making it the highest-selling drug in the country during the period. 

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