Index Update: The Nifty 50 slipped 19.65 points to close at 26,027.30, recovering from the day’s lows and finishing above the 26,000 mark and key support zones, thereby maintaining its broader bullish structure. The index remains comfortably above the 51-day SMA at 25,769.73, reflecting steady underlying support, while the RSI at 53.68 indicates improving momentum. Immediate support is placed near 25,500, with resistance around 26,500. A move above 26,350 could strengthen near-term sentiment.

Macro Update- India’s trade deficit narrowed to a five-month low of USD 24.53 billion in November 2025 as exports jumped 19.4% YoY to USD 38.13 billion, aided by incentives despite US tariffs. Imports fell 1.9%, led by a sharp drop in gold, oil and coal purchases.

Top Market Movers: On Monday, InterGlobe Aviation Ltd (NSE: INDIGO) led the gainers with a 2.16% increase, closing at INR 4,965.50 followed by Hindustan Unilever Ltd (NSE: HINDUNILVR) up 1.46% at INR 2,293.50 and Shriram Finance Ltd (NSE: SHRIRAMFIN) which rose 0.87% to INR 855.35. On the downside followed Mahindra & Mahindra Ltd (NSE: M&M) saw the largest drop, falling 1.95% to INR 3,608.00 followed Eicher Motors Ltd (NSE: EICHERMOT) down 1.49% to INR 7,121.50 and Oil and Natural Gas Corporation Ltd (NSE: ONGC), which dropped 1.12% to INR 235.35.

Commodity Update: Commodity Update: The U.S. dollar remained under pressure on Monday, while the euro and sterling traded steady ahead of key central bank meetings this week. Focus stayed on interest rate outlooks as the new year approaches. Gold rose 0.72% to USD 4,358.20, silver gained 1.34% to USD 62.83, and copper increased 0.70% to USD 11,653.20. Brent crude added 0.50% to USD 61.44, though oversupply and weak demand concerns persisted.

Our Stance: Market sentiment remains cautiously positive, with the Nifty holding above key support and the 26,000 mark despite intraday volatility. Improving RSI signals gradual momentum recovery, supported by a narrowing trade deficit. Near-term direction hinges on resistance around 26,350–26,500 and global macro cues, including commodities and central bank guidance.

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