Index Update: The Nifty 50 fell 58.00 points to close at 25,227.35 yet remained firmly above the 51-day SMA at 24,868.57, which continues to act as a strong support zone. The RSI at 58.50 indicates sustained bullish momentum despite the minor pullback. A move above 25,500 could reignite upside potential, while immediate support lies at 24,900, followed by 24,400 on the downside.

Macro Update: India’s 10-year bond yield held near 6.52% as markets awaited September CPI data, expected to ease to 1.7%, below the RBI’s target range. Softer inflation could strengthen prospects for rate cuts in December and February, though global risk sentiment remains fragile amid renewed U.S.–China trade tensions and tariff concerns.

Top Market Movers: On Monday, Adani Ports and Special Economic Zone Ld (NSE: ADANIPORTS) led the gainers with a 2.02% increase, closing at INR 1,437.80 followed by Bajaj Auto Ltd (NSE: BAJAJ-AUTO) up 1.34% at INR 9,066.00 and Bajaj Finance Ltd (NSE: BAJFINANCE) which rose 1.26% to INR 1,036.75. On the downside, Tata Motors Ltd (NSE: TATAMOTORS) saw the largest drop, falling 2.68% to INR 660.75 followed Wipro Ltd (NSE: WIPRO) down 1.44% to INR 245.13 and Hindustan Unilever Ltd (NSE: HINDUNILVR), which dropped 1.43% to INR 2,492.80.

Commodity Update: The U.S. dollar rebounded on Monday after an early selloff, as hopes grew that Washington might soften its latest trade measures against Beijing. Political uncertainty in France and Japan weighed on the euro and yen. Commodities strengthened, with gold up 1.58% to $4,063.40, silver rising 3.24% to $48.79, and copper gaining 1.78% to $10,600.00. Brent crude advanced 1.70% to $63.78, recovering from earlier losses.

Our Stance: Market sentiment remains cautiously optimistic as the Nifty holds above key support despite mild profit-booking. Softer inflation expectations and potential RBI rate cuts support a medium-term bullish bias. However, persistent global trade tensions and policy uncertainties may cap near-term upside, keeping investors selective and focused on fundamentally resilient sectors.

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