Index Update: The Nifty 50 advanced 639.15 points to close at 25,727.55 after a gap-up opening but eased from the day’s high to finish closer to the session low. Despite the sharp rebound, the index continues to trade below its 50-day Simple Moving Average at 25,822.38, which remains an immediate upside hurdle. Momentum stays muted, with the RSI at 53.72 reflecting stabilisation from lower levels. Immediate support is seen near 25,000, while resistance lies around 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 ~6.72% as US tariff rollbacks boosted market sentiment. Lower trade frictions, improved rupee outlook, and potential foreign inflows are expected to support longer-duration bonds, partially offsetting pressure from elevated government borrowing and global rate uncertainty.

Top Market Movers: On Tuesday, Adani Enterprises Ltd. (NSE: ADANIENT) led the gainers with a 10.38% increase, closing at INR 2,202.60 followed by Adani Ports and Special Economic Zone Ltd. (NSE: ADANIPORTS) up 9.10% at INR 1,530.80 and Jio Financial Services Ltd. (NSE: JIOFIN) which rose 8.11% to INR 263.90. On the downside followed Tech Mahindra Ltd. (NSE: TECHM) saw the largest drop, falling 0.44% to INR 1,716.50 followed Bharat Electronics Ltd. (NSE: BEL) down 0.03% to INR 438.95 and Nestlé India Ltd. (NSE: NESTLEIND), which dropped 0.02% to INR 1,308.00.

Commodity Update: The U.S. dollar held firm on Tuesday, supported by upbeat economic data and shifting expectations around Federal Reserve policy, which outweighed concerns over a potential U.S. government shutdown. Commodities posted broad gains, with gold rising 3.36% to USD 4,810.50, silver climbing 7.04% to USD 82.41, and copper advancing 0.60% to USD 13,008.90. Brent crude edged up 0.20% to USD 66.42 after sharp losses, as easing U.S.–Iran tensions reduced risk premiums.

Our Stance: Markets show improving sentiment driven by macro tailwinds and strong heavyweight participation, yet technical structure remains cautious. Sustained strength above resistance is essential to confirm trend reversal, while elevated global uncertainty and commodity volatility warrant selective positioning and disciplined risk management in the near term.

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