Index Update: The Nifty 50 declined 165.70 points to close at 25,597.65, finishing below key support levels. However, the index remains well above the 51-day EMA at 25,179.07, indicating strong underlying support. The RSI at 52.76 reflects mild bearish momentum, though the broader bias remains slightly positive. Immediate support is placed near 25,200, while resistance is seen around 26,300. A sustained move above 25,670 could help reinforce the prevailing upward trend.

Macro Update: India is set to resume imports from China after a five-year freeze, signaling improving bilateral ties. The government will expedite pending approvals and renew BIS certifications for overseas manufacturing units to ease supply-chain constraints. The move aims to boost domestic production efficiency and stabilize input costs across key sectors.

Top Market Movers: On Tuesday, Titan Company Ltd (NSE: TITAN) led the gainers with a 2.39% increase, closing at INR 3,813.50 followed by Bharti Airtel Ltd (NSE: BHARTIARTL) up 1.89% at INR 2,113.30 and Bajaj Finance Ltd (NSE: BAJFINANCE) which rose 1.33% to INR 1,057.00. On the downside Power Grid Corporation of India Ltd (NSE: POWERGRID) saw the largest drop, falling 3.11% to INR 279.05 followed Coal India Ltd (NSE: COALINDIA) down 2.83% to INR 377.55 and Eternal Ltd (NSE: ETERNAL), which dropped 2.82% to INR 313.50.

Commodity Update: The dollar held firm near a three-month high on Tuesday as a divided Federal Reserve prompted traders to scale back rate cut expectations. Investors also awaited the Reserve Bank of Australia’s policy decision, with rates expected to remain unchanged. Gold slipped 0.54% to USD 3,992.20 per ounce, silver fell 0.80% to USD 47.66, and copper declined 0.61% to USD 10,778.00. Brent crude eased 0.10% to USD 64.80 amid OPEC+ output concerns.

Our Stance: Market sentiment remains cautiously optimistic despite recent declines. Broader trend stays constructive above key moving averages, suggesting underlying resilience. Focus remains on sustaining momentum through improved global trade sentiment and stable macro conditions. Continued strength in consumption and manufacturing could support further upside once near-term consolidation pressures ease.

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