Index Update:  The Nifty 50 Index closed near 23,654.70, marginally lower in the latest session, while remaining below its 50-day SMA near 23,705.17, reflecting a mildly weak near-term structure. Recent price action indicates consolidation following the recent rebound attempt, with the index witnessing volatility around current levels amid mixed sentiment. The 14-day RSI near 45.55 remains below the neutral zone, suggesting softer momentum conditions. Immediate support is placed around 23,300–23,000, while resistance is seen near 23,850–24,100.

Macro Update: India’s macroeconomic environment remained mixed as the 10-year G-Sec yield extended gains toward 7.1% amid expectations of possible RBI policy tightening to support the rupee. Meanwhile, manufacturing growth softened in May due to weaker demand and rising input costs. However, services activity remained resilient, with PMI touching a six-month high, supporting overall economic momentum despite global geopolitical uncertainties.

Top Market Movers: On Thursday, Grasim Industries Limited (NSE:GRASIM) led the gainers with a 6.17% increase, closing at INR 3,154.50 followed by InterGlobe Aviation Limited (NSE:INDIGO)  up 3.25% at INR 4,403.00 and Apollo Hospitals Enterprise Limited (NSE:APOLLOHOSP) which rose 2.85% to INR 8,308.50. On the downside followed Bajaj Finance Limited (NSE:BAJFINANCE) saw the largest drop, falling 1.67% to INR 907.65 followed Hindustan Unilever Limited (NSE:HINDUNILVR) down 1.37% to INR 2,179.00 and Tech Mahindra Limited (NSE:TECHM), which dropped 1.32% to INR 1,420.00.

Commodity Update: The U.S. dollar reversed lower on Thursday as improving risk sentiment reduced safe-haven demand after President Donald Trump said Washington was in the “final stages” of peace talks with Iran. Trump also stated the U.S. was prepared to strike Iran if no agreement was reached, although he indicated willingness to delay further military action amid ongoing negotiations with Tehran. Gold declined 0.23% to USD 4,535.20 per ounce, silver fell 0.79% to USD 75.60, copper slipped 0.13% to USD 13,615.90, while Brent crude gained 0.50% to USD 105.53 per barrel.

Our Stance: Despite ongoing consolidation and softer momentum in the Nifty 50, resilient services activity and easing global risk sentiment may continue to support selective buying interest. However, elevated bond yields, currency pressure, and geopolitical uncertainty could keep markets volatile, with traders closely watching the 23,800–24,000 resistance zone for confirmation of stronger upside momentum.

Disclaimer:

The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.

Copyright 2026 Krish Capital Pty. Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.