Index Update: The Nifty 50 climbed 261.75 points to close at 25,585.53, maintaining a strong position above the 51-day SMA at 24,981.52, which continues to serve as solid support. The RSI at 60.49 reflects sustained positive momentum despite recent mild corrections. A clear move above 25,500 could further strengthen the uptrend, with immediate resistance at 26,000 and 26,500. Overall, the broader outlook remains constructive as long as key supports hold firm.

Macro Update: India’s 10-year bond yield climbed toward 6.50%, rebounding from a three-week low as optimism grew over potential progress in US-India trade talks. Sentiment was further supported by dovish RBI minutes, with Governor Malhotra noting inflation dropped to 1.54% in September—an eight-year low, well below the 2–6% target range.

Top Market Movers: On Thursday, Nestle India Ltd (NSE: NESTLEIND) led the gainers with a 4.52% increase, closing at INR 1,276.60 followed by Tata Consumer Products Ltd (NSE: TATACONSUM) up 3.15% at INR 1,149.30 and Kotak Mahindra Bank Ltd (NSE: KOTAKBANK) which rose 2.60% to INR 2,205.40. On the downside, HDFC Life Insurance Company Ltd (NSE: HDFCLIFE) saw the largest drop, falling 2.40% to INR 742.85 followed Eternal Ltd (NSE: ETERNAL) down 1.83% to INR 347.85 and Shriram Finance Ltd (NSE: SHRIRAMFIN), which dropped 0.69% to INR 672.50.

Commodity Update: The U.S. dollar weakened on Thursday amid concerns over the Sino-U.S. trade tensions and growing expectations of a Federal Reserve rate cut this year. Precious metals gained, with gold up 1.24% to $4,243.70 and silver advancing 2.80% to $52.80. Copper edged higher by 0.16% to $10,637.15. Brent crude rose 1.10% to $62.57, supported by expectations of tighter supplies after President Trump said India would halt oil imports from Russia.

Our Stance: Market sentiment remains broadly positive, supported by optimism around US-India trade progress and a dovish RBI outlook. Strong technical positioning of the Nifty 50 above key support levels suggests continued upward momentum. Gains in consumer and banking stocks, alongside firmer commodities, further reinforce a constructive near-term market outlook.

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