Index Update: The Nifty 50 gained 141.75 points to trade at 25,713.00, recovering from an early dip and hovering near the session’s higher levels. However, the index continues to stay marginally below its 50-day Simple Moving Average at 25,737.86, which is acting as an immediate overhead resistance. The RSI at 51.54 reflects balanced momentum, suggesting neither strong acceleration nor significant weakness. On the downside, the 25,000 mark remains an important support reference, while a sustained move above the 25,745–26,350 zone would be required to strengthen the short-term structure.

Macro Update: RBI measures eased near-term bond supply pressures through switch operations and liquidity support, helping yields soften modestly. However, heavy issuance persists, with ₹445 billion in state loans and ₹320 billion in 10-year bonds due. Yields remain range-bound at 6.65%–6.78%, sensitive to global cues and oil prices.

Top Market Movers: On Monday, Adani Ports and Special Economic Zone Limited (NSE: ADANIPORTS) led the gainers with a 2.93% increase, closing at INR 1,555.80 followed by Kotak Mahindra Bank Limited (NSE: KOTAKBANK) up 2.22% at INR 430.70 and Dr. Reddy's Laboratories Limited (NSE: DRREDDY) which rose 2.11% to INR 1,307.40. On the downside followed Hindalco Industries Limited (NSE: HINDALCO) saw the largest drop, falling 2.08% to INR 916.20 followed Infosys Limited (NSE: INFY) down 1.90% to INR 1,327.50 and Wipro Limited (NSE: WIPRO), which dropped 1.89% to INR 205.89.

Commodity Update: The U.S. dollar eased in Asian trade on Monday as markets awaited a clearer direction on Washington’s tariff policy. Safe-haven demand strengthened after fresh global tariff announcements and recent U.S. economic data, supporting bullion for a fourth straight session. Gold climbed 1.94% to USD 5,179.50, silver surged 5.90% to USD 87.20, and copper gained 0.46% to USD 12,983.00. Brent crude slipped 1.00% to USD 71.03 amid U.S.-Iran nuclear talk expectations and trade uncertainty.

Our Stance: Markets remained steady as the Nifty 50 rebounded near session highs but stayed below key resistance. Bond yields stayed range-bound amid heavy supply. Select banking and pharma stocks outperformed, while IT and metals lagged. Gold and silver strengthened on global uncertainty, while crude eased on geopolitical and trade concerns.

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