🌅 Morning Market Report | 26th August 2025

🌍 Global Cues US Markets: S&P -0.4%, Nasdaq -0.2% ended lower as Trump escalated his attack on Fed independence. Trump said he’s removing Fed Governor Lisa Cook citing mortgage fraud allegations. US govt issued draft order of 25% tariff on Indian imports from Aug 27. Trump warned of 200% tariffs on China’s rare-earth magnets. US 10Y yield rose 3 bps to 4.29%. Dollar Index up at 98.3 – negative for EM flows. Brent Crude at $68.5 on geopolitical jitters. Gold prices moved higher on safe-haven demand. 🏦 Domestic Setup GIFT Nifty down 74 pts at 24,920 – signaling a gap-down open. Key corporate actions:

trades ex-bonus (1:1) today. Karur Vysya Bank trades ex-bonus (1:5). AGMs today: Grasim, Chambal Fert, Power Grid, CSB Bank, HCLTech, Niva Bupa Health, Shyam Metalics, Arvind Fashions, Adani Green. IPO/Listing: Vikran Engineering IPO opens; Vikram Solar lists today. MSCI Adjustment (last 1 hr impact): Inclusions: , Vishal Mega Mart, Hitachi Energies, Waaree Energies. Exclusions: , Thermax. 📊 Key Spot Levels Nifty 50: Support 24,900 → 24,800 | Resistance 25,100 → 25,200 Bank Nifty: Support 55,000 → 54,800 | Resistance 55,800 → 56,000 Nifty Financial Services: Support 26,300 → 26,200 | Resistance 26,400 → 26,500 Sensex: Support 81,300 → 81,000 | Resistance 82,000 → 82,300 ⚡ Actionable for the Day Expect a gap-down start led by weak global cues, Trump’s tariff moves, and Fed tensions. Watch for MSCI flows in last hour – volatility likely. Banking & Financials in focus with HDFC Bank and Karur Vysya Bank going ex-bonus. Keep an eye on tariff-sensitive sectors (IT, pharma, engineering exporters). Defensives (FMCG, Pharma, Gold-related) may see safe-haven buying.