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Index Update: The Nifty 50 rose 0.49% to close at 25,090.70, staying above its 50-day SMA of 25,039.11 and a minor support level, though overall price action suggests ongoing bearish consolidation. A bearish candlestick after breaking support reflects cautious sentiment, with the RSI at 47.63 showing weakening momentum. Maintaining a hold above 24,800 remains crucial, while a clear breakout above the 26,000 mark is necessary to revive bullish momentum and confirm renewed strength.

Macro Update: Global cues turned supportive as the US 10-year yield fell to 4.4% amid rising Fed rate cut bets and easing dollar index. This may boost FPI inflows into Indian equities. Stable US inflation expectations and tariff uncertainty remain key watchpoints for emerging market sentiment, including India.

Top Market Movers: On Monday, Eternal Ltd (NSE: ETERNAL) led the gainers with a 5.64% increase, closing at INR 271.70 followed by ICICI Bank Ltd (NSE: ICICIBANK) up 2.81% at INR 1,465.80, and HDFC Bank Ltd (NSE: HDFCBANK) which rose 2.20% to INR 2,000.50. On the downside, Reliance Industries Ltd (NSE: RELIANCE) saw the largest drop, falling 3.21% to INR 1,428.60 followed Wipro Ltd (NSE: WIPRO) down 2.47% to INR 260.50 and IndusInd Bank Ltd (NSE: INDUSINDBK), which dropped 1.29% to INR 858.80.

Commodity Update: The Japanese yen strengthened on Monday, bolstered by rising global political uncertainty as investors flocked to safe-haven assets. With risk sentiment weakening, the yen's stability was reaffirmed. Precious metals saw gains: gold rose 0.53% to $3376.40, silver increased 0.25% to $38.56, and copper advanced 0.77% to $9,864.90. Brent crude edged up 0.01% to $69.34, as traders assessed the impact of European sanctions on Russian oil and potential tariffs.

Our Stance: The market remains in a cautious consolidation phase despite supportive global cues. Banking and metal strength offers near-term support, but weakness in Oil & Gas limits upside. Sustained FPI inflows may aid sentiment, yet a clear breakout above 26,000 is essential to revive bullish momentum and confirm trend reversal.

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