Top stories: Record highs for Nifty, electronics PLI boost, Grok obscenity row & more

Markets ended the second trading day of 2026 on a high note, with the Sensex climbing 573 points to 85,762 and the Nifty touching a life high of 26,329, reflecting strong investor optimism. The rupee, however, slipped to a day’s low of 90.12 against the US dollar, as persistent dollar demand kept the domestic currency under pressure.

On the policy front, the government approved 22 projects under the Electronics Component Production-Linked Incentive scheme, signalling a push for domestic manufacturing. In corporate news, the spotlight is on mergers and acquisitions: Devyani International’s merger with Sapphire Foods will be closely watched for profitability, while Coforge’s CEO insists the $2.35 billion Encora deal was a strategic, long-term move. Global business updates include BYD overtaking Tesla in EV sales and Warren Buffett reaffirming confidence in Berkshire Hathaway’s century-long prospects.

Elsewhere, issues around gig economy inequalities, social media regulation, and human tragedies in Indore remind us of the complex realities shaping India today.

Market hits record highs as Sensex rises 573 points, Nifty ends at life high of 26,329



The equity benchmark indices BSE Sensex and NSE Nifty on Friday (January 2) ended at record highs at the close of trade, with the market extending its upward momentum. The Sensex rose 573 points to close at 85,762, while the Nifty gained 182 points to end at a life high of 26,329, moving back above the 26,325 level during the session.

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Rupee slips to day’s low of 90.12: Why dollar demand remains strong



The rupee fell to its intraday low on Friday, January 2, 2026, reversing early gains to trade at 90.12 against the US dollar, as persistent dollar demand and thin market liquidity kept pressure on the domestic currency.

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India approves 22 projects under Electronics Component PLI scheme



The government has approved 22 investment proposals under the Electronics Component Production-Linked Incentive (PLI) scheme.

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Devyani–Sapphire merger success hinges on margins, not just size: Consumer consultant



Akshay D'Souza, an independent consumer business consultant, said profitability will be the key factor to track after the merger of Devyani International and Sapphire Foods, as cost savings and scale benefits start flowing through the combined entity.

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‘We didn’t overpay by even a cent,’ says Coforge CEO on Encora deal



Coforge is pushing back against concerns that it may have paid too much for Encora, saying the $2.35 billion deal is a deliberate long-term bet rather than a valuation-driven transaction.

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BYD likely to overshadow Tesla, Chinese EV maker sells 4.6 million vehicles in 2025



In 2025, BYD Co. achieved its full-year sales goal and probably overtook Tesla Inc. to become the world's largest manufacturer of electric vehicles. However, this achievement was overshadowed by a difficult forecast for the Chinese auto market in the coming year.

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Berkshire Hathaway has a better chance of being here 100 years from now than any other company: Warren Buffett 



Warren Buffett has expressed strong confidence in Berkshire Hathaway’s long-term future and in his successor Greg Abel, saying the company has a better chance of enduring for the next century than any other that he can think of.

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'Gig economy exposed reality of inequality to people with luxury of not seeing it': Deepinder Goyal



A day after delivery partners from across the industry went on a strike, Zomato co-founder Deepinder Goyal has weighed in on their struggles and the gig economy at large.

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Indore water contamination: Infant born after 10-year wait dies; family rejects govt compensation



In a narrow, quiet lane of Marathi Mohalla, the silence is heavy in the Sahu family with grief that no amount of money can compensate, as they mourn their six-month-old baby, born after ten years of fervent prayers, medical treatments and sacred vows.

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Govt considering law to regulate social media after Grok AI misuse: IT Minister



Union IT Minister Ashwini Vaishnaw said the recent trend of AI tool Grok generating obscene images of women makes a strong case for government intervention, adding that a law to regulate social media content is under consideration.

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