Index Update: The Nifty 50 declined 353.00 points to close at 25,232.50 after a gap-down opening, signalling a softer near-term tone. The index ended well below its 50-day Simple Moving Average at 25,957.89, which continues to act as immediate resistance. The RSI slipped to 29.27, highlighting weakening momentum near lower levels. On the downside, support is seen around 25,000, while resistance remains near 26,500. A sustained move above 26,350 would be required to improve near-term confidence.

Macro Update: India’s 10-year G-sec yield eased to ~6.66%, retreating from multi-month highs as expectations of sustained RBI liquidity support boosted bond demand. Over ₹9.1 trillion has been infused this fiscal via OMOs, FX swaps and CRR cuts, though rising US Treasury yields capped the decline.

Top Market Movers: On Tuesday, Tata Consumer Products Ltd (NSE: TATACONSUM) led the gainers with a 0.41% increase, closing at INR 1,185.00 followed by HDFC Bank Ltd (NSE: HDFCBANK) up 0.36% at INR 931.20. On the downside followed Eternal Ltd (NSE: ETERNAL) saw the largest drop, falling 4.18% to INR 269.60 followed Bajaj Finance Ltd (NSE: BAJFINANCE) down 3.74% to INR 933.20 and Adani Enterprises Ltd (NSE: ADANIENT), which dropped 3.72% to INR 2.055.10.

Commodity Update: On Tuesday, the U.S. dollar stayed under pressure while U.S. Treasury yields climbed to their highest level in over four months, as renewed trade-war concerns weighed on risk sentiment and triggered selling in U.S. assets. Gold advanced 1.72% to USD 4,673.50 and silver gained 4.85% to USD 92.83, while copper slipped 0.72% to USD 12,885.20. Brent crude edged up 0.30% to USD 64.13, supported by stronger-than-expected economic growth data from China and ongoing focus on President Donald Trump’s tariff-related remarks.

Our Stance: The market stance remains cautious as the Nifty trades below key moving averages with an oversold RSI, indicating weak momentum. While RBI liquidity support and firm commodity prices offer some cushioning, global yield pressures and trade uncertainties continue to cap near-term upside, keeping sentiment fragile.

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