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Indian Equities Start 2026 on Uneven Footing Amid Choppy Trade

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Indian Equities Start 2026 on Uneven Footing Amid Choppy Trade
Domestic markets ended the first session of 2026 flat after volatile trade, as investors balanced sector rotation, mixed global signals, and cautious positioning, keeping benchmarks range-bound despite intraday swings across key indices.
Indian equity markets witnessed sharp intraday swings on the first trading day of 2026 before closing flat, reflecting cautious investor positioning. Benchmark indices moved between gains and losses as sectoral rotation, mixed global cues, and selective profit booking capped momentum. FMCG and metals offered support, while IT and financial stocks saw pressure. Volumes remained moderate, indicating a wait-and-watch approach among participants.
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Godfrey Phillips shares tumble over 19% here's what tech charts hint at

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Godfrey Phillips shares tumble over 19% here's what tech charts hint at
Godfrey Phillips India’s share price dropped over 19% on Jan 1, 2026 as markets reacted to new excise duty news, with technical charts showing bearish momentum. :contentReference[oaicite:1]{index=1}
Shares of Godfrey Phillips India Ltd plunged sharply in the first trading session of 2026 after the Indian government announced an additional excise duty on cigarettes effective February 1, 2026. The stock declined about 19.24% to a low of around ₹2,230.15 as selling pressure intensified following the tax news. Technical indicators show the share trading below multiple moving averages, suggesting weak momentum, while the 14-day RSI at 26.05 indicates oversold conditions. 
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