India Stock Market Pre-Open: Nifty, Sensex, GIFT Nifty, RBI Liquidity & Top Stocks to Watch on 26 December 2025

Indian equities return to action on Friday, 26 December 2025, after the Christmas trading holiday shut Indian exchanges on Thursday, 25 December. ^[1]

With year-end liquidity thinning, markets are entering the session with a familiar mix of inputs: GIFT Nifty cues, FII/DII flows, options positioning, and a growing list of stock-specific triggers (open offers, orders, regulatory updates, and corporate actions).

Below is a detailed, publication-ready guide to what matters most before the opening bell on Dalal Street.

1) The big overnight indicator: GIFT Nifty is slightly softer

The first read for the Indian open is GIFT Nifty futures.

GIFT Nifty futures (30-Dec-2025 contract) were around 26,131 in early hours on 26 Dec (about 01:21 IST). ^[2]
Moneycontrol’s live tracker also showed a mild dip (about -46 points / -0.18%) around 01:19 IST, reinforcing the slightly cautious tone. ^[3]

How to read it: A small discount versus the last Nifty close typically points to a muted-to-soft start, but the real direction often settles only after the first 15–30 minutes when cash-market liquidity returns.

2) Where the market left off: Nifty and Sensex ended mildly lower on 24 Dec

The last full Indian trading session was Wednesday, 24 December 2025 (ahead of the holiday).

Nifty 50 closed at 26,142.10, down 35.05 points (-0.13%). ^[4]
Sensex closed at 85,408.70, down 116.14 points (-0.14%). ^[5]

The tone was broadly described as thin, pre-holiday trade with low volatility—an important context because low participation can exaggerate intraday swings if any headline hits. ^[6]

3) FII vs DII: Foreign selling continues, domestic money supports

Institutional flows remain one of the cleanest “risk-on/risk-off” signals for India.

On 24 December 2025 (cash market):

FIIs: net sold ₹1,721.26 crore
DIIs: net bought ₹2,381.34 crore ^[7]

What it means for today: If FIIs stay net sellers while DIIs keep absorbing supply, the market can remain resilient—but leadership often narrows and the index becomes more sensitive to heavyweight moves (banks, IT, energy, and a few mega-caps).

4) Options & technical setup: Key Nifty levels traders are watching

With December expiry dynamics behind the market and a fresh series underway, traders will closely track open interest (OI) clusters and the support-resistance map.

Nifty options: where the big OI sits

From the latest options positioning:

Nifty Calls: heavy OI near 26,200 (about 1.34 crore)
Nifty Puts: heavy OI near 26,000 (about 1.52 crore) ^[8]

This structure typically suggests:

26,000 is a key near-term support / put base
26,200 is an important near-term resistance / call ceiling

Volatility remains low

India VIX was around 9.19, reflecting subdued volatility expectations. ^[9]

Low VIX environments can fuel slow grind-ups—but they can also become fragile if a surprise headline forces quick repricing.

Bank Nifty: the key zone

Bank Nifty positioning also points to specific levels:

Heavy Call OI around 59,500 (about 0.5 crore)
Heavy Put OI around 59,000 (about 0.44 crore) ^[10]

One stock in F&O ban

Sammaan Capital was listed as being in the F&O ban list. ^[11]

5) Global cues: Wall Street, the holiday schedule, the dollar and crude

Wall Street: positive tone into Christmas, full session back on Dec 26

US stocks ended higher in holiday-shortened trade, with commentary pointing to markets staying near record territory. ^[12]
And despite a US federal office closure directive, major US exchanges remained scheduled to trade (including full trading on 26 December), keeping global risk sentiment active later today. ^[13]

Dollar and crude: still core inputs for India

In the latest Reuters market snapshot during the holiday week:

Dollar index was around 107.37
Brent crude near $62.42
US 10-year yield around 4.16% ^[14]

A firm dollar and rising oil can pressure India via import costs and the rupee. Conversely, softer oil and a stabilising dollar generally ease macro stress for India’s current account and inflation outlook.

6) RBI liquidity “gift”: why rate-sensitive stocks may stay in focus

One of the most important domestic macro developments in the last few days is the RBI’s clear push to keep system liquidity comfortable.

Reuters reported the RBI is set to inject about ₹2.90 trillion via a mix of:

₹2 trillion in government bond purchases
a $10 billion dollar-rupee swap, starting over the coming weeks ^[15]

Why equity traders care: Easier liquidity and supportive bond conditions often help banks, NBFCs, real estate, and other rate-sensitive segments—especially when markets are hunting for catalysts in a thin holiday week.

7) Sector watch: IT, insurance and metals in the spotlight

IT: H-1B changes remain an overhang

IT stocks have been reacting to US regulatory changes around the H-1B visa program, which Reuters noted contributed to IT weakness recently. ^[16]
For today, traders may watch whether IT continues to drag or stabilises as broader risk sentiment improves.

Insurance: big policy headline with medium-term implications

A major policy trigger: India’s parliament cleared a bill allowing full foreign ownership in insurance, removing the earlier cap. ^[17]
This can keep insurance companies, brokers, and distribution platforms on watch—particularly on expectations of increased competition, capital inflows, and JV restructuring.

Metals: a theme in recent market commentary

In recent market commentary, the combination of macro signals and positioning has kept metals on traders’ radar as a potential outperforming pocket. ^[18]

8) Stocks to watch on 26 December 2025: deals, orders, inspections and corporate actions

The pre-open list is unusually busy for a holiday-week Friday, with Moneycontrol flagging multiple names. ^[19]

Here are the most actionable, news-driven movers:

Castrol India: open offer headline

Moneycontrol reported an open offer to acquire a 26% stake in Castrol India at ₹194.04 per share. ^[20]
Reuters also detailed Stonepeak and CPPIB’s move and the takeover-law context around open offers. ^[21]

Why it matters: Open-offer pricing often anchors short-term sentiment and can re-rate the stock (and sometimes peers).

KNR Constructions: monetisation / stake sale transaction

KNR Constructions executed SPAs with Indus Infra Trust to sell its 100% shareholding (including sub-debt) in four SPVs, with expected inflows materially higher than its planned investment into those SPVs. ^[22]

Ola Electric Mobility: PLI incentive inflow

Ola Electric received incentives of ₹366.78 crore under the PLI-Auto scheme (claims pertaining to FY25). ^[23]

Vikran Engineering: fresh order win

Vikran Engineering received a ₹459.2 crore EPC contract from NTPC Renewable Energy for a solar project in Uttar Pradesh. ^[24]

Zota Health Care: fundraising via QIP

Zota raised ₹350 crore via QIP with participation from multiple investors (as listed by Moneycontrol). ^[25]

Strides Pharma: USFDA inspection update

USFDA conducted a routine inspection at Strides’ US formulations facility (Dec 17–23) and issued a Form 483 with four observations, which the company said are procedural and not expected to impact supply. ^[26]

Supreme Industries: BPCL order

Supreme Industries received an LoA from BPCL for a repeat order (about 2 lakh composite LPG cylinders), valued around ₹54 crore. ^[27]

JK Cement: mining block preferred bidder

JK Cement was declared the “preferred bidder” for the mining lease of the Kishanpura Limestone Block in Rajasthan. ^[28]

NBCC: project development MoU

NBCC signed an MoU with the Mumbai Port Authority for development of a CGO complex on port land, with NBCC as project management consultant. ^[29]

Vodafone Idea: tax penalty order

Vodafone Idea received an order confirming a ₹79.56 crore penalty related to alleged additional licence fee and spectrum usage charges for FY19. ^[30]

Corporate action watch: Nuvama Wealth split + ex-dates list

Moneycontrol also flagged Nuvama Wealth Management under “Stock Trades Ex-Date for Split.” ^[31]
Separately, The Economic Times has reported the record date for Nuvama’s 1:5 split is 26 December 2025. ^[32]

9) IPO watch: holiday week doesn’t mean a quiet primary market

If you track IPO flows (often a sentiment indicator), the NSE’s “upcoming issues” dashboard still showed multiple active offers in the late-December window. ^[33]
ICICI Direct’s IPO list also reflected several offers running into Dec 26 and beyond, mostly in the SME space. ^[34]

Why it matters: A hot primary market can tighten liquidity for some parts of the secondary market, while strong listing trends can boost risk appetite in broader “new economy” names.

10) What to watch in the first hour after the open

Given the current setup, these are the practical “tell” signals traders and investors typically watch early on 26 Dec:

Can Nifty hold 26,000? Options positioning suggests this is the most important near-term support zone. ^[35]
Does the index reclaim/clear 26,200? That’s the key call-writing ceiling in the current map. ^[36]
Bank Nifty around 59,000–59,500: Watch whether banks lead (often a sign liquidity optimism is working) or lag. ^[37]
FII flow direction: Recent data shows FIIs selling while DIIs buy; a reversal (even temporarily) can change the day’s tone quickly. ^[38]
Deal-driven names: Castrol India and other headline stocks can create strong single-stock momentum that spills into sectors. ^[39]

Bottom line

For India stock market open on 26 December 2025, the playbook is clear: a slightly soft GIFT Nifty cue, continued FII selling vs DII support, low volatility, and a busy stock-specific news docket—with the RBI’s liquidity stance providing a supportive macro undertone. ^[40]

As always in the last week of the year, keep one eye on headlines and the other on liquidity—because in thin trade, the market can move faster than the news cycle.

References