Index Update: The Nifty 50 gained 41.25 points to close at 25,763.35, holding near its recent highs. The index continues to trade comfortably above the 51-day EMA at 25,295.70, suggesting underlying support. The RSI at 58.99 reflects steady momentum. Immediate support lies near 25,670, while resistance is positioned around 26,000–26,300.

Macro Update: India’s 10-year G-Sec yield eased to 6.54% after the RBI canceled a ₹110 billion 7-year bond auction, signaling discomfort with rising yields. Liquidity remains tight amid RBI intervention to support the rupee. The central bank will meet dealers and banks to discuss market conditions, while rate-cut expectations persist.

Top Market Movers: On Monday, Shriram Finance Ltd (NSE: SHRIRAMFIN) led the gainers with a 6.35% increase, closing at INR 796.45 followed by Tata Consumer Products Ltd (NSE: TATACONSUM) up 2.79% at INR 1,197.50 and Apollo Hospitals Enterprise Ltd (NSE: APOLLOHOSP) which rose 1.87% to INR 7,824.50. On the downside Maruti Suzuki India Ltd (NSE: MARUTI) saw the largest drop, falling 3.31% to INR 15,651.00 followed ITC Ltd (NSE: ITC) down 1.52% to INR 413.95 and Tata Consultancy Services Ltd (NSE: TCS), which dropped 1.35% to INR 3,016.80.

Commodity Update: The U.S. dollar strengthened to a near three-month high on Monday ahead of key economic data that could influence the Federal Reserve’s policy outlook. Gold rose 0.38% to USD 4,011.50 per ounce, silver gained 0.66% to USD 48.48, while copper slipped 0.40% to USD 10,852.00. Brent crude climbed 0.73% to USD 65.24 after OPEC+ postponed planned production hikes for the first quarter of next year.

Our Stance: Market sentiment remains cautiously optimistic as equities hold near record highs despite mixed global cues. Stable bond yields, firm commodity trends, and easing inflation expectations support a constructive outlook. However, tight liquidity and currency pressures could trigger short-term volatility, keeping investors focused on upcoming macro data and central bank signals.

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