Index Update: The Nifty 50 gained 133.30 points to close at 25,843.15, maintaining a strong position above the 51-day SMA at 24,955.11, which continues to offer solid support. The RSI at 71.80 reflects sustained bullish momentum despite minor recent pullbacks. A decisive move above 25,500 would further strengthen the prevailing uptrend, with immediate resistance seen at 26,000 and 26,500. Overall, the broader outlook remains constructive as long as key support levels hold firm.

Macro Update: India and the U.S. have reportedly narrowed differences in trade talks, moving closer to a deal that could reduce punitive tariffs. Positive negotiations in Washington signal progress. While the U.S. seeks a gradual halt to India’s Russian oil imports, New Delhi prioritizes consumer interests, planning reduced Russian purchases and increased U.S. crude imports.

Top Market Movers: On Monday, Cipla Ltd (NSE: CIPLA) led the gainers with a 3.90% increase, closing at INR 1,639.10 followed by Reliance Industries Ltd (NSE: RELIANCE) up 3.53% at INR 1,466.80 and Shriram Finance Ltd (NSE: SHRIRAMFIN) which rose 2.73% to INR 693.95. On the downside, ICICI Bank Ltd (NSE: ICICIBANK) saw the largest drop, falling 3.22% to INR 1,390.30 followed JSW Steel Ltd (NSE: JSWSTEEL) down 1.56% to INR 1,145.20 and Mahindra and Mahindra Ltd (NSE: M&M), which dropped 1.32% to INR 3,599.10.

Commodity Update: Commodity Update: The U.S. dollar steadied on Monday as easing trade tensions between Beijing and Washington and reduced concerns over U.S. regional banks lifted risk appetite. Gold gained 1.27% to USD 4,268.70 per ounce, silver rose 1.30% to USD 50.28, and copper advanced 1.09% to USD 10,709.95. However, Brent crude slipped 0.40% to USD 61.05 per barrel amid persistent worries over a global supply glut and softer energy demand.

Our Stance: Market sentiment remains optimistic as Nifty sustains strength above key technical support levels, reflecting continued bullish momentum. Progress in India-U.S. trade talks and easing global risks further bolster investor confidence. However, selective profit-booking in heavyweight stocks and softer crude prices suggest a mildly cautious short-term outlook.

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