Index Update: he Nifty 50 gained 30.65 points to close at 25,108.30, holding firm above the 50-day SMA at 24,883.63, which continues to provide strong support. The RSI at 56.19 reflects improving momentum from earlier oversold levels. A sustained move above 25,500 may open the door for further upside, while 24,430 remains a key support level to watch for potential pullbacks.

Macro Update: India and the EU began their 14th round of FTA talks in Brussels on October 6, aiming to finalize a long-pending trade deal. Key issues include tariff cuts on autos, medical devices, and agri products. Commerce Minister Piyush Goyal remains optimistic about an early agreement.

Top Market Movers: On Tuesday, Bharti Airtel Ltd (NSE: BHARTIARTL) led the gainers with a 1.36% increase, closing at INR 1,929.00 followed by Bajaj Auto Ltd (NSE: BAJAJ-AUTO) up 1.27% at INR 8,904.00 and Jio Financial Services Ltd (NSE: JIOFIN) which rose 1.19% to INR 309.90. On the downside, Axis Bank Ltd (NSE: AXISBANK) saw the largest drop, falling 2.14% to INR 1,186.80 followed Tata Motors Ltd (NSE: TATAMOTORS) down 2.05% to INR 698.05 and Tata Consumer Products Ltd (NSE: TATACONSUM), which dropped 1.94% to INR 1,120.00.

Commodity Update: The yen fell to a two-month low against the dollar as the focus in Japan shifted to the potential cabinet lineup under fiscal dove Sanae Takaichi following her party leadership win. Gold rose 0.31% to $3,988.00, while silver slipped 0.12% to $48.38 and copper gained 0.38% to $10,686.80. Brent crude inched up 0.02% to $65.48 amid concerns about weak demand and expectations of limited OPEC+ output increases.

Our Stance: Nifty 50 continues to show resilience above key support, reflecting improving momentum and selective sector strength. Broader sentiment remains constructive, supported by steady earnings and macro optimism around India–EU trade talks, though profit booking near 25,500 and global commodity volatility could trigger short-term consolidation.

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