Index Update: The Nifty 50 rose 132.40 points to close at 25,289.90 after a gap-up opening, but slipped from the day’s high, reflecting a softer near-term tone. The index continues to trade below its 50-day Simple Moving Average near 25,954, which remains an immediate resistance area. The RSI eased to 33.82, indicating weakening momentum at lower levels. On the downside, support is placed around 25,000, while resistance is seen near 26,500. A sustained move above 26,350 would be needed to improve near-term confidence.

Macro Update: India’s 10-year G-Sec yield slipped to a one-week low of around 6.64%, driven by expectations of continued RBI bond market support and softer US Treasury yields. Strong buying from insurers, pension funds, corporates and the RBI supported sentiment, with further central bank purchases expected to underpin market stability.

Top Market Movers: On Thursday, Dr. Reddy’s Laboratories Ltd (NSE: DRREDDY) led the gainers with a 5.21% increase, closing at INR 1,217.50 followed by Bharat Electronics Ltd (NSE: BEL) up 3.64% at INR 417.30 and Adani Enterprises Ltd (NSE: ADANIENT) which rose 2.67% to INR 2,086.40. On the downside followed Eternal Ltd (NSE: ETERNAL) saw the largest drop, falling 2.68% to INR 275.90 followed SBI Life Insurance Company Ltd (NSE: SBILIFE) down 1.62% to INR 2,022.00 and Titan Company Ltd (NSE: TITAN), which dropped 1.49% to INR 4,018.60.  

Commodity Update: The U.S. dollar held onto overnight gains against major peers on Thursday after President Donald Trump withdrew earlier tariff threats against several European NATO nations, easing trade-related concerns. Gold declined 1.06% to USD 4,786.20, while silver slipped 0.09% to USD 92.55. Copper rose 0.56% to USD 12,823.90. Brent crude edged up 0.15% to USD 65.34, supported by reduced trade tensions and a steadier global demand outlook.

Our Stance: Market tone remains cautiously positive, supported by easing bond yields and selective stock-specific strength; however, technical resistance on the Nifty and weak momentum indicators warrant a selective, risk-aware approach in the near term.

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