Index Update: The Nifty 50 declined 1.01% to close at 24,888.20 yet held above its 50-day SMA of 24,253.93, preserving its bullish structure. With RSI easing to 54.97, near-term momentum is weakening. However, the index remains above the key 24,600 support, sustaining its breakout. A close above 25,200 could reignite upside momentum, while dips may find buying interest near support. Overall, the short-term outlook remains cautiously optimistic.

Macro Update Airline stocks dropped sharply on June 12 following reports of a plane crash near Ahmedabad Airport. A London-bound Air India flight carrying 242 passengers reportedly went down shortly after takeoff, striking a building in a densely populated area. IndiGo and SpiceJet shares fell in response, with IndiGo dropping 3% and SpiceJet declining 1.5%.

Top Market Movers: On Thursday, Apollo Hospitals Enterprise Limited (NSE: APOLLOHOSP) led the gainers with a 0.96% increase, closing at INR 6,994.00 followed by Asian Paints Ltd (NSE: ASIANPAINT) up 0.73% at INR 2,225.00, and Bajaj Finserv Ltd (NSE: BAJAJFINSV) which rose 0.46% to INR 2,022.10. On the downside, Tata Motors Ltd (NSE: TATAMOTORS) saw the largest drop, falling 2.98% to INR 714.45 followed by Titan Company Ltd (NSE: TITAN) down 2.62% to INR 3,448.90 and Trent Ltd (NSE: TRENT), which dropped 2.62% to INR 5,620.00.

Commodity Update: The dollar slipped on Thursday as expectations of Fed rate cuts grew and President Trump signalled a softer stance on tariffs, suggesting a possible extension of the July 8 trade deadline. Gold rose 1.57% to $3,396.00, silver gained 0.49% to $36.43, and copper advanced 0.44% to $9,693.10. Brent crude edged up 0.20% to $69.92 on fears of supply disruption amid rising tensions with Iran.

Our Stance: Nifty's performance will hinge on global cues and sector-specific developments. While the Nifty 50 faces challenges such as high valuations and potential global economic uncertainties, the positive macroeconomic indicators and strong sectoral performance provide a foundation for a moderate recovery. Investors are advised to adopt a selective investment approach, focusing on sectors with robust growth prospects and maintaining a diversified portfolio to navigate potential market fluctuations.

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