Index Update: The Nifty 50 advanced 169.90 points to close at 25,239.10, finishing above the 25,200 marks, which signals potential for further upside. The index continues to trade above both the 21-day and 50-day SMAs, with the latter providing crucial support. A sustained move beyond 25,500 would be needed to revive momentum and extend gains. On the downside, 24,350.70 remains a critical support along the falling trendline, helping to safeguard against deeper corrections.

Macro Update: India plans to publish a list of 100 high-import goods, including chemicals and plastics, to boost domestic manufacturing under the Swadeshi initiative. Meanwhile, India and the U.S. resume trade talks amid escalating tensions after the U.S. imposed steep tariffs on Indian exports, seeking to resolve disputes and expand cooperation.

Top Market Movers: On Tuesday, Kotak Mahindra Bank Ltd (NSE: KOTAKBANK) led the gainers with a 2.58% increase, closing at INR 2,021.70 followed by Larsen and Toubro Ltd (NSE: LT) up 2.28% at INR 3,667.80, and Mahindra and Mahindra Ltd (NSE: M&M) which rose 2.20% to INR 3,608.00. On the downside, Tata Consumer Products Ltd (NSE: TATACONSUM) saw the largest drop, falling 0.95% to INR 1,902.10 followed Shriram Finance Ltd (NSE: SHRIRAMFIN) down 0.89% to INR 618.10 and Asian Paints Ltd (NSE: ASIANPAINT), which dropped 0.87% to INR 2,480.90.

Commodity Update: The U.S. dollar weakened on Tuesday as markets awaited the Federal Reserve’s expected policy easing. Gold prices touched a record before slipping 0.06% to $3,716.50. Silver dipped 0.11% to $42.91, and copper declined 0.53% to $10,112.00. Brent crude rose 0.30% to $67.63, extending gains amid Ukraine’s strikes on Russian oil facilities, which heightened supply concerns. Meanwhile, Russia launched a major assault on Zaporizhzhia after recent Ukrainian attacks.

Our Stance: Nifty’s position above crucial support levels indicate potential for continued upside if it crosses 25,500. The government’s focus on boosting domestic manufacturing and the resumption of India-U.S. trade talks add positive catalysts. However, ongoing geopolitical tensions and fluctuations in commodities require careful monitoring and a balanced approach to market exposure.

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