Index Update: The NIFTY 50 is trading near 23,997.35, up 3.78%, after rebounding sharply from recent lows around 22,000. The index remains below its 50-day Simple Moving Average near 24,548.03, indicating the broader structure is still weak despite the recovery. The 14-day RSI has improved to 53.89, showing firmer momentum after emerging from oversold conditions. The 23,300–23,500 zone may provide immediate support if the rebound fades, while the 24,500–24,600 range could remain the next hurdle.

Macro Update: India’s 10-year government bond yield declined to a two-week low near 6.9% after the RBI kept the repo rate unchanged at 5.25% and maintained a neutral stance. Softer oil prices, improved global risk sentiment, and stable growth and inflation projections further supported bond market sentiment and eased yield pressures.

Top Market Movers: On Wednesday, Shriram Finance Limited (NSE:SHRIRAMFIN) led the gainers with a 9.94% increase, closing at INR 1,023.20 followed by Adani Enterprises Limited (NSE:ADANIENT) up 8.59% at INR 2,043.80 and Tata Motors Passenger Vhcls Ltd (NSE:TMPV) which rose 8.44% to INR 334.75. On the downside followed Coal India Limited (NSE:COALINDIA) saw the largest drop, falling 2.97% to INR 449.25 followed Tech Mahindra Limited (NSE:TECHM) down 1.49% to INR 1,451.40 and Nestlé India Limited (NSE:NESTLEIND), which dropped 0.74% to INR 1,213.70.

Commodity Update: Asian markets rallied on Wednesday after U.S. President Donald Trump said he had agreed to a two-week ceasefire with Iran, pushing the dollar to its lowest level in a month. The euro, yen, Australian dollar and New Zealand dollar strengthened. Gold jumped 2.215% to USD 4,834.05, silver climbed 6.34% to USD 76.55, and copper rose 2.57% to USD 12,660.00. Brent crude tumbled 15.00% to USD 94.59 on easing supply fears.

Our Stance: The market delivered a strong and broad-based rebound supported by easing geopolitical tensions and improved investor sentiment. Despite the sharp recovery, the NIFTY 50 continues to trade below key resistance near its 50-day average. Sustained strength above support zones could reinforce bullish momentum, while near-term volatility may remain elevated.

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