Index Update: The Nifty 50 advanced 116.90 points to settle at 25,571.25, recovering from a weaker opening to close near the day’s high. Despite the rebound, the index remains below its 50-day Simple Moving Average at 25,741.58, which now acts as an immediate resistance barrier. Momentum appears moderate, with the RSI at 48.35, indicating subdued strength. On the downside, 25,000 remains a key support zone, while the 25,745–26,350 band is critical for improving the near-term setup.

Macro Update: India’s February 2026 flash PMI data signalled strong economic momentum, with the Composite PMI rising to 59.3, a three-month high, driven by robust manufacturing output and steady services expansion. New orders and exports improved, supporting hiring growth. However, input costs surged sharply across sectors, pushing selling prices higher and highlighting persistent inflationary pressures despite improved business confidence.

Top Market Movers: On Friday, Hindalco Industries Limited (NSE: HINDALCO) led the gainers with a 3.32% increase, closing at INR 935.70 followed by NTPC Limited (NSE: NTPC) up 2.68% at INR 372.95 and Larsen & Toubro Limited (NSE: LT) which rose 2.34% to INR 4,380.60. On the downside followed Tech Mahindra Limited (NSE: TECHM) saw the largest drop, falling 1.51% to INR 1,456.90 followed Infosys Limited (NSE: INFY) down 1.26% to INR 1,353.20 and Grasim Industries Limited (NSE: GRASIM), which dropped 1.10% to INR 2,832.80.

Commodity Update: The U.S. dollar headed for its strongest weekly gain since October, supported by upbeat economic data and a firmer Federal Reserve stance, while geopolitical tensions between Washington and Tehran kept investors cautious. Fresh data showed U.S. jobless claims fell more than expected, highlighting labour market resilience. Gold rose 0.33% to USD 5,014.10, silver gained 0.49% to USD 78.01, copper edged up 0.09%, and Brent crude climbed 0.30% to USD 71.87.

Our Stance: Market sentiment remains cautiously positive as the Nifty rebounds from lows but stays below key resistance near its 50-day average. Strong PMI data supports growth outlook, though rising input costs may pressure margins. Stock-specific movements and stable commodity trends suggest selective opportunities amid near-term volatility.

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