Index Update: The Nifty 50 declined 167.20 points to close at 25,860.10, retreating from the day’s high and finishing below the 26,000 mark and key resistance zones. The index is trading below its 51-day SMA at 25,789.05, indicating some pressure on the broader structure, while the RSI at 47.82 points to softening momentum. Immediate support is seen near 25,500, with resistance placed around 26,500. A sustained move above 26,350 would be needed to improve near-term sentiment.

Macro Update- India’s macro environment remained mixed as the 10-year G-Sec yield eased to around 6.6% from a four-month high amid softer PMI momentum under the weight of US tariffs. Meanwhile, the rupee slipped past 91 per USD on sustained foreign outflows. Attention now turns to the RBI’s INR 500 billion bond purchase and progress in US–India trade talks.

Top Market Movers: On Tuesday, Titan Company Ltd (NSE: TITAN) led the gainers with a 1.64% increase, closing at INR 3,929.50 followed by Bharti Airtel Ltd (NSE: BHARTIARTL) up 1.56% at INR 2,102.00 and Tata Consumer Products Ltd (NSE: TATACONSUM) which rose 1.08% to INR 1,169.90. On the downside followed Axis Bank Ltd (NSE: AXISBANK) saw the largest drop, falling 5.07% to INR 1,219.60 followed Eternal Ltd (NSE: ETERNAL) down 4.69% to INR 284.45 and JSW Steel Ltd (NSE: JSWSTEEL), which dropped 2.89% to INR 1,082.60.

Commodity Update: Commodity Update: The U.S. dollar slipped to near a two-month low in early Asian trade on Tuesday as investors awaited key economic releases, including the delayed November U.S. jobs report. Commodities traded lower, with gold down 0.39% to USD 4,318.50, silver falling 0.63% to USD 63.21, and copper easing 0.66% to USD 11,599.05. Brent crude declined 0.40% to USD 60.32 amid easing geopolitical concerns.

Our Stance: Market sentiment remained cautious as the Nifty slipped below key resistance amid softening momentum. Mixed macro signals, including easing bond yields and a weaker rupee, continued to shape risk appetite. Stock-specific moves dominated trade, while softer commodity prices and upcoming RBI bond purchases are likely to guide near-term direction.

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