Index Update: The Nifty 50 gained 170.90 points to close at 25,966.05, extending its recent rally after touching fresh record highs. The index remains comfortably above the 51-day EMA at 25,064.90, which continues to offer strong support. The RSI at 71.49 reflects sustained bullish momentum, though mildly overbought conditions persist. Immediate support is placed at 25,670, while resistance is seen near 26,000. Sustained trade above 25,670 would help reinforce the broader uptrend.

Macro Update: India’s 10-year G-Sec yield stayed near a four-week high at 6.54% as investors tracked progress in U.S.–India trade negotiations and awaited policy cues. Expectations of a December rate cut, steady foreign inflows into government bonds, and ongoing FTA talks with the EU are shaping near-term market sentiment.

Top Market Movers: On Monday, SBI Life Insurance Company Ltd (NSE: SBILIFE) led the gainers with a 3.44% increase, closing at INR 1,903.10 followed by Grasim Industries Ltd (NSE: GRASIM) up 2.91% at INR 2,923.90 and Bharti Airtel Ltd (NSE: BHARTIARTL) which rose 2.50% to INR 2,080.10. On the downside, Kotak Mahindra Bank Ltd (NSE: KOTAKBANK) saw the largest drop, falling 1.76% to INR 2,148.60 followed Bharat Electronics Ltd (NSE: BEL) down 1.63% to INR 415.15 and Infosys Ltd (NSE: INFY), which dropped 1.37% to INR 1,504.50.

Commodity Update: The U.S. dollar strengthened to a two-week high against the yen on Monday amid a busy week of trade talks and central bank meetings. Gold slipped 1.27% to USD 4,084.30 per ounce, while silver eased 0.88% to USD 48.16. Copper rose 1.06% to USD 11,016.00, and Brent crude gained 0.70% to USD 66.40 after U.S.-China officials outlined a trade-deal framework, easing global growth concerns.

Our Stance: Market sentiment remains constructive as Nifty sustains above key support and maintains strong momentum despite mild overbought conditions. Focus stays on global trade developments and upcoming policy cues, with continued foreign inflows and expectations of monetary easing likely to support equities in the near term.

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