Index Update: The NIFTY 50 declined 312.95 points to close at 24,865.70, after opening weaker and recovering toward the higher end of the session’s range, though it remained below the 25,000 mark. The index continues to trade beneath its 50-day Simple Moving Average at 25,675.46, which stands as an immediate resistance level. The RSI at 35.48 reflects subdued momentum conditions. On the downside, 24,500 remains a key support reference, while the 25,500–26,350 band represents an important resistance zone in the near term.

Macro Update: India’s industrial production growth slowed to 4.8% YoY in January 2026, led by moderate manufacturing expansion despite strength in automobiles and metals. Meanwhile, India’s 10-year bond yield rose to 6.7% amid heightened Middle East geopolitical tensions, while stronger manufacturing PMI data signalled improving domestic business activity and economic momentum.

Top Market Movers: On Monday, Bharat Electronics Limited (NSE: BEL) led the gainers with a 2.08% increase, closing at INR 453.95 followed by Hindalco Industries Limited (NSE: HINDALCO) up 1.65% at INR 940.00 and Oil and Natural Gas Corporation Limited (NSE: ONGC) which rose 0.89% to INR 282.20. On the downside followed InterGlobe Aviation Limited (NSE: INDIGO) saw the largest drop, falling 6.36% to INR 4,520.40 followed Larsen & Toubro Limited (NSE: LT) down 4.95% to INR 4,066.70 and Adani Ports and Special Economic Zone Limited (NSE: ADANIPORTS), which dropped 3.33% to INR 1,470.30.

Commodity Update: Safe-haven demand intensified on Monday after escalating tensions in the Middle East unsettled global markets. The euro weakened while the U.S. dollar strengthened, and the Swiss franc advanced as risk aversion deepened. Gold climbed 2.25% to USD 5,367.70, while silver gained 1.44% to USD 94.64. Copper edged down 0.07% to USD 13,360.00. Meanwhile, Brent crude surged 7.37% to USD 78.24, reaching multi-month highs amid supply disruption concerns.

Our Stance: Market sentiment remains cautious as the NIFTY 50 trades below key resistance levels amid weak momentum indicators. Rising bond yields and geopolitical tensions may sustain volatility, although resilient domestic economic indicators and manufacturing activity continue to provide underlying support, keeping the broader medium-term outlook balanced despite near-term pressure.

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.