Index Update: The NIFTY 50 is trading at 24,261.60 on March 10, 2026, up 233.55 points (0.97%), after opening at 24,280.80 and moving within a range of 24,303.80–24,079.95 so far. Despite the intraday recovery, the index continues to trade below its 50-day Simple Moving Average near 25,505.18, which may act as an immediate technical hurdle for any sustained rebound. Momentum indicators remain subdued, with the RSI around 34.22, suggesting softer market conditions. On the downside, the 24,000.00–23,700.00 zone may act as a near-term support area. Meanwhile, the 24,800.00–25,500.00 range could act as a resistance band if the index attempts to extend its recovery.

Macro Update: India’s 10-year government bond yield eased to around 6.68% as declining crude oil prices improved sentiment toward Indian assets. Lower energy prices reduced inflation concerns for the import-dependent economy, while RBI bond purchases supported the debt market. However, caution persisted amid expectations of significant state bond supply.

Top Market Movers: On Tuesday, Shriram Finance Limited (NSE: SHRIRAMFIN) led the gainers with a 7.67% increase, closing at INR 1,062.90 followed by Tata Motors Passenger Vehicles Limited (NSE: TMPV) up 3.98% at INR 345.20 and Apollo Eicher Motors Limited (NSE: EICHERMOT) which rose 3.72% to INR 7,536.50. On the downside followed Infosys Limited (NSE: INFY) saw the largest drop, falling 1.48% to INR 1,295.60 followed Eternal Limited (NSE: ETERNAL) down 1.28% to INR 226.62 and Reliance Industries Limited (NSE: RELIANCE), which dropped 1.07% to INR 1,408.80.

Commodity Update: The U.S. dollar weakened, losing some of its safe-haven appeal amid speculation that the Middle East conflict may remain limited. Improved risk sentiment supported metals, with gold rising 1.51% to USD 5,181.50, silver surging 5.96% to USD 89.54, and copper gaining 1.17% to USD 13,083.00. Meanwhile, Brent crude fell 6.60% to USD 92.45 after hitting a three-year high earlier, as hopes of easing geopolitical tensions reduced concerns over global oil supply disruptions.

Our Stance: The market remains unchanged. Despite the intraday recovery in the NIFTY 50, the index continues to trade below its 50-day Simple Moving Average, indicating ongoing technical weakness. With momentum indicators remaining subdued and macroeconomic uncertainties persisting, the market may continue to witness cautious trading in the near term.

Disclaimer:

The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.

Copyright 2026 Krish Capital Pty. Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.