Index Update: The Nifty 50 advanced 148.40 points to close at 26,046.95, maintaining its position above the 26,000 mark and key support zones, preserving the broader bullish structure. The index remains well above the 51-day SMA at 25,745.91, indicating steady support, while the RSI at 54.40 points to improving momentum. Immediate support lies near 25,500, with resistance at 26,500. A breakout above 26,350 could further boost near-term sentiment.

Macro Update- India’s macro environment remains stable as global yields ease, with the US 10-year stabilizing near 4.16%. Softer external rates help reduce imported tightening pressures, supporting domestic liquidity. Steady consumer demand, resilient services activity, and healthy government spending continue to underpin India’s growth outlook despite global uncertainties.

Top Market Movers: On Friday, Hindalco Industries Ltd. (NSE: HINDALCO) led the gainers with a 3.37% increase, closing at INR 852.10.70 followed by Tata Steel Ltd. (NSE: TATASTEEL) up 3.26% at INR 171.89 and Eternal Ltd. (NSE: ETERNAL) which rose 2.44% to INR 298.05. On the downside followed Hindustan Unilever Ltd. (NSE: HINDUNILVR) saw the largest drop, falling 1.95% to INR 2,260.60 followed ITC Ltd. (NSE: ITC) down 0.69% to INR 400.10.20 and Max Healthcare Institute Ltd. (NSE: MAXHEALTH), which dropped 0.61% to INR 1,081.30.

Commodity Update: The U.S. dollar is heading for its third consecutive weekly decline, pressured by expectations of rate cuts next year after the Federal Reserve pushed back against hawkish market bets, boosting the euro and sterling to their highest levels since October. Gold fell 0.20% to USD 4,304.25, silver dropped 0.88% to USD 63.98, and copper slipped 0.26% to USD 11,840.75. Brent crude rose 0.50% to USD 61.61 amid potential U.S. action on Venezuelan oil tankers.

Our Stance: Market conditions remain broadly constructive, as the Nifty sustains key support, and momentum indicators show a gradual improvement. Stable global yields and supportive domestic demand reduce downside risks. While near-term volatility may persist, holding above major supports keeps the outlook cautiously positive with scope for measured upside if global cues remain steady.

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