Indian stock markets began 2026 with significant gains, as the Nifty 50 reached a new all-time high and the Sensex surged by 0.7%. The rally was broad-based, led by power, auto, and financial sectors, with PSU banks also hitting fresh highs. While most sectors performed well, ITC experienced a notable decline due to concerns over increased cigarette taxes. Global markets, particularly European indices, also saw record highs, contributing to a constructive investor sentiment focused on upcoming Q3 earnings.