Mumbai, Jan 5: The Indian benchmark indices traded flat with a mild negative bias on Monday over losses in IT stocks and the latest US-Venezuela tensions.

Even as Indian companies showed signs of improving quarterly earnings, optimism was blunted by caution over the implications of US military action in Venezuela.

As of 9.30 am, Sensex eased 62 points, or 0.07 per cent to 85,699 and Nifty gained 9 points, or 0.03 per cent to 26,319.

Main broad-cap indices performed almost in line with benchmark indices, with the Nifty Midcap 100 unchanged, while the Nifty Smallcap 100 gained 0.36 per cent.

ONGC and SBI were among major gainers on the Nifty. Among sectoral gainers, Nifty IT was the major loser, down 1.41 per cent. In Nifty media, metal and PSU sectors were the major gainers up 0.84 per cent, up 0.70 per cent and 0.79 per cent, respectively.

Immediate support lies at 26,150–26,200 zone, and resistance placed at 26,450–26,500 zone, market watchers said.

Analysts said that major geopolitical events at the start of 2026 could have serious consequences and could affect the market.

The US action in Venezuela could destabilise global geopolitics. The Russia-Ukraine conflict is likely to continue, Iranian protests may worsen and the Iranian regime may react in light of US President Donald Trump’s threat of intervention, and China may use the opportunity to annex Taiwan, they said.

A positive for India from the Venezuelan crisis would be medium to long-term bearish impact for crude, they said.

The market may remain resilient in the short term due to its all-time high and bullish momentum. The Bank Nifty is strong due to strong credit growth, they said, adding that Q3 banking and financial results would be impressive.

In Asian markets, China’s Shanghai index added 1.07 per cent, and Shenzhen gained 1.87 per cent, Japan’s Nikkei added 2.557 per cent, while Hong Kong’s Hang Seng Index eased 0.12 per cent. South Korea’s Kospi advanced 2.87 per cent.

The US markets were mostly in the green zone on the last trading day even as Nasdaq lost 0.03 per cent. The S&P 500 gained 0.19 per cent, and the Dow moved up 0.66 per cent.

On January 2, foreign institutional investors (FIIs) bought equities worth Rs 290 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 677 crore.

Mumbai, Jan 3: The Indian equity benchmarks closed on a strong note this week, touching fresh all-time highs amid strong performance in the banking and auto sectors.

Nifty surged 1.05 per cent during the week and 0.70 per cent on the last trading day to 26,328. At close, Sensex was up 760 points or 0.67 per cent at 85,762. It surged 0.89 per cent during the week.

Bank Nifty also continued its outperformance and scaled fresh record highs above the 60,200 mark.

The Indian equities traded in a cautious tone till New Year, weighed down by persistent FII outflows and heightened global uncertainties. On New Year, the indices ended on a flat note, and on the last day of trading week, they touched fresh all-time highs.

Strong momentum was observed in the auto and PSU banking sectors, while sectoral rotation was evident in utilities as they gained traction on hopes of rising demand and increased industrial activity. Robust December auto sales indicate a broader uptick in economic activity during the festive-driven quarter.

Improving asset quality and expectations of accelerated credit growth drew investor interest toward PSU banking stocks, analysts said.

Conversely, FMCG index dipped 4 per cent for the week after the government announced a higher excise duty on cigarettes.

Broader indices outperformed benchmark indices for the week, with the Nifty Midcap100 up 1.74 per cent, while Nifty Smallcap100 edged up 0.77 per cent.

Precious metals continued their momentum, as trade disparity, supply constraints, geo-political tension, rate cut view and FII outflows continue to test the near-term risk appetite of investors.

According to analysts, a sustained hold by Nifty above 26,300 could accelerate the rally toward 26,500, with an extended upside potential toward 26,700 on strong follow-through. Bank Nifty is likely to continue outperforming the Nifty index in the near term, they added.

Key cues for investors going forward include US payroll and unemployment data for global market direction. Markets may move within a steady range as participants wait for clearer earnings‑led triggers and clarity on the India-US trade deal, market watchers said.

New Delhi, Jan 2: The Ministry of Labour and Employment has published the draft rules for the four labour codes, which also bring gig workers on board for various benefits such as minimum wage, health, occupational safety, and social security coverage.

The government has invited feedback from stakeholders on these draft rules and aims to finally roll out the entire package of four labour codes across the country from April 1.

Under the draft rules, in order to be eligible for the benefits, a gig or platform worker must be associated with an aggregator for at least 90 days in a financial year to qualify for social security benefits created by the Centre. If a worker is engaged with more than one aggregator, the minimum requirement is fixed at 120 days.

The notification, dated December 30, 2025, was issued a day before the gig and platform workers went on a flash strike for higher wages and better working conditions.

The rules clarify that a worker is considered “engaged” on any calendar day if they earn income for work done for an aggregator, regardless of how much they earn.

If a worker is associated with multiple aggregators, the number of engagement days will be added together across all aggregators. The draft also states that if a worker is engaged with three aggregators on the same calendar day, it will be counted as three separate days of engagement.

Regarding the minimum wage, the draft rules state that when the rate of wages for a day is fixed, then such amount shall be divided by eight for fixing the rate of wages for an hour and multiplied by twenty-six for fixing the rate of wages for a month. In case of a five-day working week, the hourly rate of minimum wages so calculated shall be used to derive the minimum wages for the day.

While fixing the minimum rates of wages, the Central government shall take into account the geographical area, experience in the area of employment, and level of skill required for working under the categories of unskilled, semiskilled, skilled, and highly skilled, the rules further state.

The four codes — the Code on Wages, 2019; the Industrial Relations Code, 2020; the Code on Social Security, 2020; and the Occupational Safety, Health and Working Conditions Code, 2020 — were notified on the same day.

The Labour Codes make it mandatory for employers to issue appointment letters to all workers, which provides written proof to ensure transparency, job security, and fixed employment. Earlier, no mandatory appointment letters were required.

Under the Code on Social Security, 2020, all workers, including gig and platform workers, will get social security coverage. All workers will get PF, ESIC, insurance, and other social security benefits. Earlier, there was only limited security coverage.

Under the Code on Wages, 2019, all workers will receive a statutory minimum wage payment, and timely payment will ensure financial security. Earlier, minimum wages applied only to scheduled industries or employments and large sections of workers remained uncovered.