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* Benchmark equity indices ended higher, supported by improved global and domestic cues. The rally gathered pace after the Supreme Court of the United States struck down a large portion of President Donald Trump’s sweeping global tariff policy on Friday. The reduction in US import tariffs from 18% to 15% further boosted investor confidence.

* The Nifty closed above the 25,700 mark, while the Sensex climbed nearly 500 points. The Sensex rose 480 points, or 0.60%, to settle at 83,294, and the Nifty advanced 141 points, or 0.6%, to close at 25,713 compared to the previous session.

* Market sentiment was also supported by a rise in India’s February PMI to a three-month high and sustained buying by foreign institutional investors (FIIs). Asian markets largely traded higher following the US court’s decision on tariffs, while European markets showed a mixed trend.

* Back home, buying was broad-based, with the Nifty 500 advance-decline ratio at 2.5:1.5, indicating strong participation from mid- and small-cap stocks.

* Sectorally, the Nifty PSU Bank, Capital Goods, Auto, and FMCG indices gained up to 1.5%. Auto ancillary stocks rallied after the US implemented a uniform global import tariff of 15%, lowering India’s rate from 18%. The move improved sentiment, as India is a major exporter of auto components to the US. Shares of Bharat Forge rose 3% to close at ?1,834.

* PSU banking stocks continued their upward momentum, driven by strong quarterly results and attractive valuations. Stocks such as Union Bank, J&K Bank, PNB, and Bank of India gained between 1% and 4%.

TechnicalOutlook:

* Nifty index opened positive but failed to hold its opening highs above 25750 zones and drifted lower throughout the session. It took some breather near 25600 and witnessed buying in the last hour to finally close above 25700 zones with gains of around 140 points. It formed a small bodied bullish candle on the daily frame with swings on either sides suggesting some lack of follow up buying but support based buying is quite strong. Now it has to hold above 25650 zones for an up move towards 25850 then 26000 zones while supports can be seen at 25600 then 25500 zones.

* S&P BSE Sensex index opened on a positive note and surged towards 83500 zone within the first half hour of trade. This early strength was followed by some profit booking at higher levels. Thereafter, the index moved into a range bound phase as momentum remained subdued. On the daily chart it formed a bullish candle and closed the session with gains of around 500 points indicating supportive undertones despite the lack of strong follow through buying. Now it has to hold above 83000 for an up move towards 83600 then 84000 zones while supports are shifting higher to 83000 then 82800 zones.

DerivativeOutlook:

* Nifty future closed positive with gains of 0.45% at 25700 levels. Positive setup seen in Cummins India, Indian Bank, Siemens, Union Bank, Torrent Pharma, Motherson, SBIN, Titan, LT and CG Power while weakness in UPL, Coforge, Dixon, BDL, Cipla, Infosys, National Aluminium, BSE, TCS and HCL Tech.

* On option front, Maximum Call OI is at 26000 then 25800 strike while Maximum Put OI is at 25600 then 25500 strike. Call writing is seen at 25750 then 25700 strike while Put writing is seen at 25700 then 25600 strike. Option data suggests a broader trading range in between 25300 to 26200 zones while an immediate range between 25500 to 25900 levels.

* Tata Comm, RailTel Partner for AI, Digital Infrastructure - Tata Communications and RailTel Corp of India have entered into an association to jointly advance next-generation digital infrastructure globally. Partnership combines RailTel’s national network reach with Tata Communications’ digital fabric. Aims to modernize network infrastructure, strengthen cyberprotection and enhance customer experience.

* Pine Labs Gets multi-year Contracts From Three Oil Marketing Companies - Company won contracts from oil and marketing companies BPCL, HPCL and IOC. Contracts are for deploying, managing, and maintaining digital payments infrastructure at petrol pumps and merchant outlets across India. Collectively, nearly 130,000 digital payments acceptance devices will be deployed and maintained pan India.

* Godrej Properties - Company has entered into a joint development agreement to develop an ~ 18-acre land parcel in Thane, Mumbai.

* LTI MindTree - Company has secured a significant multi-year, seven-year strategic agreement valued at $100 million with a leading European MedTech company specializing in innovative hearing solutions.

* Morepen Laboratories - Company secured a major Rs825 crore multi-year CDMO contract from a global pharmaceutical company. Supplies are set to begin within 4-5 months, with execution scheduled for FY26-27.

* Stallion India Fluorochemicals - Company has received approval from the Rajasthan State Industrial Development and Investment Corporation (RIICO) for the allotment of land for its proposed hydrofluoroolefin (HFO) manufacturing plant in the Bhilwara district of Rajasthan.

* Mini Diamond - Company has secured an order worth Rs 12 crore for supply of lab-grown polished diamonds from a Mumbai based client

Global Market Update

* European Market - European stocks fell as President Donald Trump’s latest moves over tariffs triggered a broad selloff in risky assets. Trade-related sectors including automakers and industrials underperformed. UK, Germany and France Index declined 0.2% each.

* Asian Market - Asian stocks mostly rose while the dollar fell Monday after the US Supreme Court struck down a large part of President Donald Trump's tariffs policy that had sent shockwaves through the global economy last year. China Index surged by 2.5%. Japan Index slipped 1.2% while Taiwan and South Korea index gained 0.5% each.

* US Data - Factory Orders and Durable Goods order.

* Commodity - Oil fell 1% to $70/bbl as investors weighed the odds of a nuclear deal between the US and Iran, with more negotiations on the issue expected later this week as American forces mass in the Middle East.

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