Index Update: The Nifty 50 Index advanced 190.75 points to close at 26,129.60, indicating renewed buying interest and improving short-term momentum. The broader technical structure remains constructive, with the index sustaining above its 21-period SMA, which acts as a key dynamic support. Immediate downside support is placed near 25,950, aligned with a falling trendline.

Macro Update: India’s macro environment remains resilient, supported by steady domestic demand and policy stability. Services-led growth offsets pockets of manufacturing moderation, while easing inflation provides room for a calibrated stance by the Reserve Bank of India. Fiscal discipline, infrastructure spending, and a stable banking system underpin confidence amid global uncertainties.

Top Market Movers: On Wednesday, JSW Steel Ltd (NSE: JSWSTEEL) led the gainers with a 4.79% increase, closing at INR 1,164.80 followed by Oil and Natural Gas Corporation Ltd (NSE: ONGC) up 2.43% at INR 240.38 and Tata Steel Ltd (NSE: TATASTEEL) which rose 2.43% to INR 180.08. On the downside followed Tata Consultancy Services Ltd (NSE: TCS) saw the largest drop, falling 1.25% to INR 3,206.20 followed Tech Mahindra Ltd (NSE: TECHM) down 0.85% to INR 1,590.90 and Grasim Industries Ltd (NSE: GRASIM), which dropped 0.45% to INR 2,829.00.

Commodity Update: Major currencies traded in narrow ranges on Wednesday amid thin year-end volumes, as investors awaited Federal Reserve meeting minutes for policy cues into 2026. Regional FX activity stayed muted. Gold fell 0.49% to USD 4,364.65, silver dropped 5.26% to USD 73.82, and copper eased 0.68% to USD 12,549.00. Brent crude slipped 0.20% to USD 61.23, with oil down over 10% in 2025 amid supply-demand imbalances.

Our Stance: The market stance remains cautiously positive. Strong index momentum above key technical supports and resilient domestic macro fundamentals support near-term optimism. However, muted global cues, commodity volatility, and thin year-end participation warrant selectivity. A buy-on-dips approach appears prudent while monitoring global policy signals and support levels closely.

Disclaimer:

The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.

Copyright 2025 Krish Capital Pty. Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.