Index Update: The Nifty 50 ended at 24,722.75, up 0.64%, but remained below the 50-day SMA of 25,046.30, indicating ongoing consolidation. The RSI at 41.83 suggests improving momentum, though downside pressure persists. Key support lies at 24,400; a breach could lead to deeper declines. On the upside, resistance is seen near 25,000, and a decisive move above this level may trigger a short-term recovery toward 25,400.

Macro Update: India will maintain Russian oil imports despite U.S. penalty threats from President Trump, citing long-term contracts and price stability. Russian oil, which isn't directly sanctioned, accounts for 35% of India’s imports. Recent purchase pauses were due to narrowing discounts, not geopolitical pressure, reinforcing India’s energy security stance.

Top Market Movers: On Monday, Hero MotoCorp Ltd (NSE: HEROMOTOCO) led the gainers with a 5.20% increase, closing at INR 4,535.90 followed by Tata Steel Ltd (NSE: TATASTEEL) up 4.28% at INR 159.56, and Bharat Electronics Ltd (NSE: BEL) which rose 3.27% to INR 389.55. On the downside, Power Grid Corporation of India Ltd (NSE: POWERGRID) saw the largest drop, falling 1.13% to INR 287.95 followed HDFC Bank Ltd (NSE: HDFCBANK) down 1.00% to INR 1,992.00 and Oil and Natural Gas Corporation Ltd (NSE: ONGC), which dropped 0.83% to INR 234.83.

Commodity Update: Commodity update: The dollar edged slightly higher on Monday despite a weak U.S. jobs report and President Donald Trump’s dismissal of Bureau of Labor Statistics Commissioner Erika McEntarfer, accusing her of faking data. July job growth fell short of expectations, with the prior month's numbers revised downward by 258,000. Gold rose 0.19% to $3,406.10, silver gained 0.06% to $36.95, copper climbed 0.24% to $9,663.00, while Brent crude fell 0.57% to $69.27 per barrel as OPEC+ planned a production hike.

Our Stance: Despite global headwinds, we remain cautiously optimistic. The Nifty’s rebound signals improving momentum, though resistance near 25,000 must be watched. India's firm energy policy and sector-wide strength, especially in auto and metal, support market sentiment. We maintain a selective, opportunity-driven approach amid macro and geopolitical uncertainties.

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