Index Update: Nifty 50 advanced 93.95 points to close at 25,819.35, extending its rebound and finishing near the day’s higher range. The index is trading around its 50-day SMA at 25,753.02, keeping the near-term structure balanced. Momentum is steady, with the RSI at 53.91, suggesting stabilising conditions. Immediate support is placed near 25,000, while resistance is seen around 26,500, with 26,350 remaining an important level for further strength.

Macro Update: India’s rupee traded near 90.65 per dollar, supported by RBI intervention in the 90.70–90.80 zone, limiting volatility. Recent trade agreements, a growth-oriented budget, and stable capital flows supported sentiment. However, mild regional currency weakness and a firm dollar kept the rupee range bound.

Top Market Movers: On Wednesday, HDFC Life Insurance Company Ltd. (NSE: HDFCLIFE) led the gainers with a 3.37% increase, closing at INR 729.60 followed by Tata Steel Ltd. (NSE: TATASTEEL) up 2.93% at INR 209.03 and ITC Ltd. (NSE: ITC) which rose 2.15% to INR 332.45. On the downside followed Oil and Natural Gas Corporation Ltd. (NSE: ONGC) saw the largest drop, falling 2.67% to INR 264.60 followed Wipro Ltd. (NSE: WIPRO) down 1.73% to INR 211.95 and Eternal Ltd (NSE: ETERNAL), which dropped 1.47% to INR 277.35.

Commodity Team: The U.S. dollar steadied on Wednesday as geopolitical concerns kept investors cautious ahead of the Federal Reserve meeting minutes, which may offer clarity on the timing of future rate adjustments. Precious and base metals advanced, with gold rising 0.54% to USD 4,933.10, silver up 0.68% to USD 74.04, and copper gaining 0.75% to USD 12,687.40. Brent crude edged 0.04% lower to USD 67.39 amid easing supply concerns.

Our Stance: Market conditions remain balanced, supported by steady index momentum, currency stability, and firm commodity prices. Improved investor sentiment, resilient domestic fundamentals, and selective sectoral strength continue to support near-term stability. However, global cues, currency movements, and policy signals are likely to influence market direction in the coming sessions.

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