Market Slips from Highs, Reliance Soars, Auto Stocks Shine Amidst Volatility

• Indian market started 2026 strong but Nifty slipped 80 points from day's high, Bank Nifty flat, mid/small-caps under pressure.
• Reliance Industries surged, nearing 18-month peak, driven by robust Jio subscription data and anticipated Jio Telecom IPO.
• IT, PSU Banks, Oil & Gas, Metal, and select NBFCs saw buying, while Capital Market and Defense stocks showed weakness.
• ITC and Godfrey Phillips shares fell sharply due to news of additional excise duty on cigarettes and tobacco from February 1st.
• Auto stocks like Escorts Kubota, VST Tillers, and M&M gained on strong December sales figures, indicating a positive buying mood.

Why It Matters: Market sees mixed trends with Reliance and Auto stocks strong, but Nifty slips and FMCG faces excise duty pressure.