Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened with a big 208-point gap down at 23,270, tracking weak global cues as Brent crude surged to $107 per barrel, triggering a sell-off in global equities and a sharp rise in bond yields. The index remained under pressure immediately after the open, slipping towards 23,250 and hovering near the lows through the first half hour. A gradual recovery followed, taking Nifty towards 23,300 by 10:30 AM, before another brief dip towards 23,270.

Buying then picked up sharply around 11 AM, pushing the index above 23,340, after which it remained largely range-bound between 23,325 and 23,355 through the rest of the first half.

The second half initially remained choppy, with Nifty continuing to oscillate around 23,330–23,355. However, momentum picked up sharply around 2 PM as oil prices fell on reports of efforts to reach a temporary Iran-US deal. The index jumped above 23,400 and briefly touched 23,440.

Nifty managed to hold most of this recovery through the final hour, trading largely in the 23,410–23,440 range. Some gains were given up towards the close, with the index eventually settling at 23,398.10, recovering nearly 160 points from the day’s low but still ending around 80 points below the previous close.

Global Markets

Market Breadth

52 Week Highs & Lows

Sectoral Indices Performance

Winners & Losers

Most Active Stocks

Commodities

Cross-Asset drawdowns

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 15th September:

• The maximum Call Open Interest (OI) is observed at 23,800, followed by 23,700, indicating potential resistance at the 23,600- 23,700 levels.

• The maximum Put Open Interest (OI) is observed at 23,300, followed by 23,000, suggesting support at 23,200-23,100.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

National Stock Exchange has set a ₹1,700–₹1,785 per share price band for its ₹22,569 crore IPO, which will open on September 17 and close on September 21. The offering is set to become India’s second-largest IPO, behind Hyundai Motor India’s ₹27,870 crore issue in 2024. Dive deeper

Indian government bonds fell sharply, pushing the benchmark 10-year yield above 7% for the first time in more than three months, with the 6.94% 2036 bond yield touching 7.0226%. The sell-off was driven by surging oil prices and rising U.S. Treasury yields, as investors increasingly expect tighter monetary policy across major economies. Dive deeper

India’s forex reserves surged by a record $44.9 billion to an all-time high of $785.71 billion in the week ended September 4, after rising $11.47 billion in the previous week. The jump was driven by foreign currency assets, which increased by $47.50 billion to $648.17 billion, largely reflecting inflows from the RBI’s special forex swap facility. Dive deeper

The government has notified new e-commerce rules effective January 1, 2027, requiring platforms to show the previous price alongside discounts, clearly label sponsored listings and prevent manipulation of search results. The rules also tighten requirements around dark patterns, seller disclosures, consumer data, and grievance handling. Dive deeper

Glenmark Pharmaceuticals’ wholly owned subsidiary launched its RYALTRIS nasal spray in Brazil following regulatory approval earlier this year. The treatment, aimed at moderate-to-severe allergic rhinitis in people aged 12 and above, is Brazil’s first intranasal combination therapy containing olopatadine. The potential market is significant, with allergic rhinitis affecting an estimated 40–60 million people in Brazil. Dive deeper

Top Stories Globally

Brent crude slipped below $105 per barrel but remained nearly 9% higher for the week, as markets weighed continued Middle East fighting against diplomatic efforts to ease tensions around the Strait of Hormuz. Meanwhile, the IEA forecast global oil demand to fall by 2.5 million barrels per day in 2026, the biggest annual decline since the COVID-19 pandemic, as elevated fuel prices and tighter supplies hit consumption. Dive deeper

The U.S. 10-year Treasury yield climbed towards the closely watched 5% level, as the global bond sell-off intensified amid oil prices well above $100 and growing expectations of a near-term Fed rate hike. Bond yields across major markets from Japan and Australia to the U.S. and Europe have reached multi-year or multi-decade highs, as investors price in further monetary tightening to contain energy-driven inflation. Dive deeper

Eight Chinese state-owned banks and insurers plan to raise up to $54 billion from shareholders to strengthen their capital positions. Five state insurers will receive up to 70 billion yuan ($10.4 billion) from China’s Ministry of Finance, funded through special government bonds, marking the first use of such bonds to recapitalise Chinese insurers. Dive deeper

U.S. investors pulled a net $32.27 billion from equity funds in the week through September 9, the largest weekly outflow since December 2025, as the Iran war pushed oil prices higher and intensified concerns over inflation and borrowing costs. Despite the equity sell-off, investors moved $22.26 billion into money-market funds, while bond funds continued to attract inflows. Dive deeper

Oracle shares rose 6% pre-market after its first-quarter revenue backlog jumped by $26 billion to $664 billion, reinforcing expectations of strong cloud growth from its AI data-centre expansion. Oracle expects roughly half of the backlog to convert into revenue within 36 months, while saying much of the new capacity can be funded through customer prepayments and client-supplied chips, reducing its own capital requirements. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Rohit Jain, Deputy Governor, RBI, sees the current technological wave as fundamentally different from earlier ones:

“Artificial intelligence is not only helping us process information faster; it is increasingly helping us interpret information, identify patterns, make predictions and support decisions. In that sense, AI is beginning to augment something especially consequential for finance: human judgment.” - Link

Corporate Actions & Events

• September 15 — India CPI Inflation
  A key input for interest-rate expectations, bond yields, and equity valuations.

• September 15 — India WPI Inflation
  Another important reading on domestic price pressures.

• September 16 — US Federal Reserve policy decision
  The rate decision could move US yields, the dollar, and global risk appetite.

• September 16 — UK Inflation
  Important for expectations around Bank of England policy.

• September 17 — Euro area Inflation (Final)
  A key input for European rate expectations.

• September 17 — Bank of England policy decision
  Could influence UK rates, sterling and broader global markets.

• September 18 — Bank of Japan policy decision
  Worth watching for its impact on Japanese yields, the yen and global liquidity.

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we look at where the idea of momentum came from and how it evolved from “relative strength” to what we now call “momentum investing.”We also explain the two main types of momentum: relative momentum and absolute momentum.

Then we get practical. We break down how to build a basic momentum portfolio — from choosing the stocks you want to compare and applying filters, to ranking stocks and deciding how often to rebalance.

We also look at some of the tools available to backtest and run a momentum strategy yourself.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened flat at 23,447, with little change in the global and domestic backdrop as crude remained above $100 per barrel and sentiment continued to remain weak, particularly in domestic markets.

The index saw choppy movement immediately after the open as Volatility continued through the first hour, with Nifty repeatedly moving between the 23,410 and 23,445 zones. After11 AM, the index staged a stronger recovery and climbed steadily to an intraday high near 23,470 around noon.

However, the recovery failed to sustain as Nifty gradually gave up its gains and slipped back towards 23,430 by early afternoon. The index remained volatile but largely range-bound between 23,420 and 23,450 for much of the second half before selling pressure picked up after 2 PM. Nifty eventually fell to the day’s low near 23,380 in the final half hour. A sharp move during the closing session, however, helped the index recover nearly 100 points from the lows to settle at 23,477.80, around 31 points above its opening level and near the day’s high.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 15th September:

• The maximum Call Open Interest (OI) is observed at 24,000, followed by 23,500, indicating potential resistance at the 23,600- 23,700 levels.

• The maximum Put Open Interest (OI) is observed at 23,000, followed by 23,400, suggesting support at 23,300-23,200.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

SEBI is reviewing how derivative settlement prices are calculated on expiry days following the rollout of the Closing Auction Session (CAS), after concerns raised by market participants. Chairman Tuhin Kanta Pandey said “CAS is here to stay,” indicating that SEBI plans to modify the settlement-price methodology rather than roll back the auction mechanism. Dive deeper

Indian investors poured a record ₹32,297 crore into mutual funds through SIPs in August, up 1.1% MoM, despite continued market volatility. Overall equity fund inflows jumped 18.8% to ₹29,329 crore, with small-cap and mid-cap funds receiving record ₹7,973 crore and ₹6,989 crore, respectively. Dive deeper

The Indian rupee fell for a third straight session, declining 0.3% to ₹95.44 per dollar, its steepest single-day fall since mid-July. Oil prices above $100, dollar demand from derivative maturities and corporate hedging weighed on the currency, despite RBI intervention through dollar sales and FX swaps. Dive deeper

HDFC Bank won all seven cases filed against it in Bahrain by investors over Credit Suisse AT1 bonds, with the Bahrain High Civil Court rejecting claims including alleged misrepresentation and failure to disclose risks. The court found insufficient evidence to establish wrongdoing or link the investors’ losses to the bank, and ordered the claimants to bear legal costs. Dive deeper

Chinese President Xi Jinping will visit India on September 12–13 for the 18th BRICS Summit in New Delhi, marking his first trip to India in seven years. The visit comes amid a gradual thaw in India-China relations following years of tensions after the 2020 border clashes, with a Modi-Xi bilateral meeting expected during the summit. Dive deeper

SEBI has launched Demat 2.0, a pilot for tokenised corporate bonds, aimed at enabling bonds to be issued, held, traded and settled using tokenisation technology. Three issuers have already issued tokenised bonds under the pilot, which is being led by CDSL and NSDL with participation from exchanges, banks, investors, NPCI and regulators, as SEBI looks to build a more integrated and programmable securities-market infrastructure. Dive deeper

Top Stories Globally

Brent crude surged to around $105 per barrel, while WTI breached $100, as Iran-aligned Houthi militants seized Yemen’s strategic port city of Mocha, raising fears of further disruptions to global energy supplies. The capture gives the Houthis greater leverage over the Bab el-Mandeb Strait, a crucial Red Sea shipping route, at a time when flows through the Strait of Hormuz are already heavily disrupted by the Iran war. Dive deeper

OPEC cut its 2026 global oil demand growth forecast to 380,000 barrels per day from 580,000 bpd, marking its fifth consecutive downward revision. Despite the Iran war, OPEC remains more optimistic than the IEA, which expects global oil demand to decline in 2026; OPEC also raised its 2027 demand-growth forecast. Dive deeper

U.S. producer prices rose 0.4% MoM in August, the sharpest increase in three months, as goods prices jumped 1.1% following two months of declines. Energy costs drove much of the increase, with diesel prices surging 24.1%, while gasoline, jet fuel and heating oil also became more expensive, adding to inflation concerns. Dive deeper

Apple unveiled the iPhone 18 Pro and Pro Max, powered by its new 2nm A20 Pro chip, with major upgrades to on-device AI, cameras, battery life and thermal management. The models feature a 48MP main camera with variable aperture, a new vapor-chamber cooling system, and Siri AI, with U.S. prices starting at $1,199 for the Pro and $1,299 for the Pro Max. Dive deeper

The ECB raised interest rates by 25 bps, its second hike since the Middle East war began, taking the deposit rate to 2.50% and the main refinancing rate to 2.65%. The central bank said the conflict continues to drive energy-led inflationary pressures, with inflation expected to remain above its 2% target for an extended period. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

SBI Chairman Challa Sreenivasulu Setty on liquidity deployment generated from the Foreign Currency Non-Resident (Bank) deposits:

“I think everybody will be more responsible. It will take about three to four months for the deployment of the liquidity. I don’t think it will happen in the next month.”

“And as we speak, also contributed by the FCNR(B) flows, we have excess SLR of ₹4 lakh crore.”

Overall, if you include the undisbursed term loans, unutilized working capital and pipeline, it exceeds ₹9 lakh crore. So, there is a strong pipeline for corporate credit,” he said. - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we trace the story of Fibonacci levels, from their origins in ancient India to their use on modern stock charts. We look at how the Fibonacci sequence was connected to Sanskrit poetry, how Leonardo of Pisa brought the numbers to Europe, and how they eventually found their way into market analysis.

We also examine whether Fibonacci levels actually work in markets, and what psychology and anchoring have to do with why traders use them. Finally, we explore why our brains are so good at finding patterns, even when those patterns may not really exist.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened with a 113-point gap down at 23,522, tracking weak global cues amid a sharp flare-up in oil prices, with Brent crude crossing the psychological $ 100-per-barrel mark. The index came under pressure immediately after the open, slipping towards 23,500, before briefly recovering towards 23,530.

Selling resumed soon after, dragging Nifty towards 23,475–23,480 around 10 AM. The index then staged a recovery towards 23,540–23,545 by 10:30 AM and remained choppy around the 23,510–23,530 zone through the rest of the first half.

In the second half, Nifty initially slipped back toward 23,480 before staging a sharp recovery after 12:30 PM that took it above 23,550 and toward an intraday high near 23,570. However, the recovery failed to sustain. After remaining around 23,540–23,550 until 2 PM, selling pressure intensified sharply in the final hour, pushing the index below 23,500 and eventually towards 23,450. Another leg of selling towards the close, followed by weakness during the closing auction session, dragged Nifty to 23,431.50, near the day’s low and around 90 points below its opening level.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 15th September:

• The maximum Call Open Interest (OI) is observed at 23,700, followed by 23,800, indicating potential resistance at the 23,600- 23,700 levels.

• The maximum Put Open Interest (OI) is observed at 23,000, followed by 23,500, suggesting support at 23,300-23,200.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

The Indian rupee weakened past ₹95 per dollar, as escalating Middle East tensions pushed Brent crude above $100 per barrel, raising concerns for the world’s third-largest oil importer. Dive deeper

The Cabinet approved eight railway multitracking projects worth ₹20,804 crore, covering 31 districts across nine states. The projects will add around 1,196 km to the Indian Railways network and are targeted for completion by 2029-30, with five projects worth ₹10,021 crore located across Tamil Nadu, Andhra Pradesh, Karnataka and Telangana. Dive deeper

Adani Enterprises’ airport unit will raise ₹9,825 crore in fresh equity from BlackRock-managed funds, Temasek, Premji Invest and Alpha Wave Global, giving the business a pre-money valuation of around $18 billion. The investors will collectively acquire about 5.54% in Adani Airport Holdings, with the funds used to expand and modernise airports, develop airport-linked commercial infrastructure and scale adjacent businesses. Dive deeper

Graphite India shares surged 15%, while HEG also gained after U.S.-based GrafTech announced an immediate minimum 30% hike in graphite electrode prices. The move, coupled with GrafTech’s recent 51,000-tonne capacity reduction, raised expectations of tighter global supply and better realisations and margins for Indian graphite electrode producers. Dive deeper

Steel Exchange India signed a four-year MoU with NMDC for long-term procurement of iron ore fines with 61–63%+ iron content from NMDC’s upcoming Visakhapatnam facility. The proximity to SEIL’s Vizianagaram plant is expected to improve raw-material security, lower logistics costs and support future capacity expansion. Dive deeper

Top Stories Globally

Brent crude breached $100 per barrel for the first time since July 24, hitting a six-week high, as the escalating Middle East conflict intensified concerns over oil supplies. The rally followed U.S. strikes that destroyed five Iranian oil tankers and Iran’s retaliation against ships near the Strait of Hormuz and a U.S. base in Jordan, further disrupting a key route for global energy supplies. Dive deeper

Copper futures hovered near record highs around $6.75 per pound, as traders booked profits following a sharp rally earlier this week. Prices remain supported by uncertainty over potential U.S. tariffs on refined copper and tightening global mine supply, alongside strong longer-term demand from power grids, AI data centres and electrification. Dive deeper

U.S. mortgage rates climbed to their highest level in over 14 months as escalating Middle East tensions pushed oil prices higher, fueling inflation concerns and lifting Treasury yields. The average 30-year fixed mortgage rate rose 6 bps to 6.85% in the week ended September 4, its highest level since June 2025. Dive deeper

Argentina’s corn exports are expected to hit a record 10 million tonnes in August–September, more than three times typical volumes, as buyers seek alternatives to disrupted Ukrainian supplies and heat-hit European crops. The surge is supported by a record 71.7-million-tonne harvest, nearly 20% above the previous record. Dive deeper

U.S. equity futures fell for a third straight session, with the S&P 500 and Dow down around 0.5% and Nasdaq 100 futures falling as much as 1%, as rising Treasury yields and oil prices weighed on sentiment. The 10-year Treasury yield hovered around 4.8%, raising borrowing costs and concerns over corporate margins and consumer demand ahead of key U.S. inflation data. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Phanindranath Kakarla, MD & CEO, Asset Reconstruction Company (India) Ltd., highlighted the role ARCs have played in India’s credit ecosystem:

“The ARC industry has been an invisible but critical part of the credit cycle. This being the first ARC to list will give visibility to the whole industry. The industry has been around for 25 years, starting with Arcil itself.

Over this period, the industry has given back about ₹2.5 lakh crore to the banking and NBFC industry through recoveries, and we ourselves have given over ₹30,000 crore back to the lending industry.” - Link

Sahil Goyal, MD & CEO of Shiprocket, sees Indian e-commerce penetration as still being at an early stage, particularly outside metros. Shiprocket already derives a majority of its GMV from Tier-2 and Tier-3 cities:

“Today, India has about 8% retail penetration, which is fairly low compared with the US and China. India is at the beginning of its digitization journey, particularly in tier 2 and 3 cities, where half of India’s e-commerce today is already in tier 2-plus cities. Shiprocket has a majority of its GMV coming from tier 2 and 3 cities, so there is a lot of growth happening in that segment.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we trace the story of Fibonacci levels, from their origins in ancient India to their use on modern stock charts. We look at how the Fibonacci sequence was connected to Sanskrit poetry, how Leonardo of Pisa brought the numbers to Europe, and how they eventually found their way into market analysis.

We also examine whether Fibonacci levels actually work in markets, and what psychology and anchoring have to do with why traders use them. Finally, we explore why our brains are so good at finding patterns, even when those patterns may not really exist.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened with a 36-point gap down at 23,743, tracking weak global cues amid a sharp flare-up in oil prices, with Brent crude nearing $100 per barrel. The index came under pressure immediately after the open, quickly falling below 23,700 and slipping towards 23,670 within the first half-hour.

A recovery attempt around 10 AM briefly took Nifty above 23,700, but it failed to sustain, with the index falling back towards 23,660–23,680. The weakness persisted through the rest of the first half, with Nifty gradually drifting lower towards 23,640- 23,650 around noon.

In the second half, Nifty attempted another recovery towards 23,665, but selling pressure returned and pushed the index progressively lower. It slipped below 23,650 after 1 PM and touched the 23,625–23,630 zone around 1:45 PM.

A modest rebound towards 23,660 followed after 2:30 PM, but once again failed to hold. The index weakened through the final hour and eventually closed at 23,635.10, near the day’s low, around 108 points below its opening level, as surging oil prices and weak global cues kept sentiment under pressure throughout the session.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 15th September:

• The maximum Call Open Interest (OI) is observed at 24,000, followed by 23,800, indicating potential resistance at the 23,900- 24,000 levels.

• The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,700, suggesting support at 23,600-23,500.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

Reliance Industries is set to raise ₹12,500 crore through five-year rupee bonds at a 7.47% coupon, marking its first domestic bond issue in nearly three years, as per Reuters. It would be the largest single-tranche fundraising by a rated Indian company since November 2023. Dive deeper

Bajaj Finance has acquired a 5% stake in AI-powered video generation startup TrueFan AI, with financial terms undisclosed. The investment, made under Bajaj Finserv’s Finserv Intelligence initiative, builds on an existing partnership under which Bajaj Finance has already used TrueFan to generate millions of personalised videos. Dive deeper

India’s fuel demand fell 2.8% YoY to 18.61 million tonnes in August, despite strong transport-fuel consumption. Petrol sales rose 8.2% to 3.84 million tonnes and diesel 6.8% to 7.02 million tonnes, while LPG consumption fell 17.2% and naphtha 22.3%, pulling overall demand lower. Dive deeper

Symphony Limited shares rose nearly 6% after the company announced a phased expansion into room air conditioners, BLDC ceiling fans and air purifiers. The new products will be rolled out through an asset-light model starting from the December 2026 quarter. Dive deeper

PVR INOX shares rebounded around 6% after the company said a preliminary assessment of anonymous allegations against certain employees found no evidence of kickbacks. It also clarified that former executive Pramod Arora resigned for personal reasons and was not asked to leave. Dive deeper

The UK has recognised India’s Carbon Credit Trading Scheme (CCTS) as a qualifying carbon pricing scheme under its CBAM, allowing eligible Indian exporters to offset carbon prices already paid in India against their UK CBAM liability. The move should reduce the carbon-tax burden and avoid double taxation for exporters. Dive deeper

State-run REC raised ₹500 crore through India’s first tokenised corporate bond, carrying a 7.30% coupon and maturing in May 2028. Around 20 investors participated, with the transaction using the RBI’s digital rupee for settlement, marking a key test of tokenised debt-market infrastructure. Dive deeper

HCLTech launched a ₹185 crore Advanced Semiconductor Lab in Bengaluru, expanding its capabilities in post-silicon engineering, chip testing, validation and failure analysis. The 40,000-sq-ft facility will serve both domestic and global semiconductor customers. Dive deeper

Top Stories Globally

Brent crude climbed above $99 per barrel, its highest since July, after Houthi attacks set oil installations ablaze and disrupted energy facilities in southern Saudi Arabia. The strikes targeted facilities in several cities, including Jazan, home to a 400,000-barrel-per-day refinery, adding to concerns over further Middle East supply disruptions. Dive deeper

The U.S. 10-year Treasury yield climbed above 4.8%, its highest since October 2023, as rising energy prices and strong recent jobs data increased concerns over inflation and further Fed tightening. Investors are now awaiting PPI on Thursday and CPI on Friday for clues on the Fed’s next move. Dive deeper

Prediction market startup Kalshi said monthly commodities trading volume crossed $400 million within seven months of launch, four times what crypto trading had reached at the same stage. Strong retail demand for prediction contracts linked to oil, gas and metals has encouraged the platform to expand into newer asset classes, helping drive overall trading volume. Dive deeper

China’s exports surged 25% YoY in August, accelerating from 23.9% in July, driven by strong global demand for high-tech and AI-related products, while imports jumped 28.2%. The trade surplus widened to $119.1 billion, taking the January–August surplus to $805.5 billion and putting China on track for a second consecutive year with a surplus above $1 trillion. Dive deeper

Huawei and Xiaomi launched new flagship foldable smartphones, intensifying competition in China’s premium handset market ahead of Apple’s launch this week. Huawei’s Mate XT2 tri-fold starts at 19,999 yuan ($2,980) and uses its new Kirin 9050 Pro chip, while Xiaomi’s 18 Fold starts at 10,999 yuan ($1,540) and uses its in-house XRing O3 processor. Huawei currently leads China’s smartphone market with a 22.6% share and accounts for 68% of foldable shipments, ahead of Apple’s expected entry into the foldable category. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Sahibjeet Singh Sawhney, marketing head, Zomato, says the share of healthy dishes ordered has grown to 7.5% from 5.3% two years ago:

“The bigger shift is what is happening in the ecosystem altogether. People are becoming far more conscious about what goes into their food, from protein and sugar content to ingredients and nutritional value. As awareness grows, we are seeing customers increasingly seek healthier options, and our role is to respond to that demand and make those choices easier to discover.”

Customers who discover Healthy Mode show strong repeat behaviour, with six in 10 customers returning to order within a month. In all, in the past one year, Zomato has delivered nearly 11 million orders through the Healthy Mode feature. This does not capture the healthy dishes ordered on the platform, since customers also search directly for dishes such as salads and place their orders. - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we trace the story of Fibonacci levels, from their origins in ancient India to their use on modern stock charts. We look at how the Fibonacci sequence was connected to Sanskrit poetry, how Leonardo of Pisa brought the numbers to Europe, and how they eventually found their way into market analysis.

We also examine whether Fibonacci levels actually work in markets, and what psychology and anchoring have to do with why traders use them. Finally, we explore why our brains are so good at finding patterns, even when those patterns may not really exist.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened flat with a 15-point gap down at 23,883, continuing the weak and dull trend in domestic markets. The index came under selling pressure immediately after the open, slipping below 23,850 within the first few minutes and continued to drift lower through the morning, falling below 23,800 around 10:30 AM and towards the 23,770–23,780 zone by 11 AM.

The weakness persisted through the rest of the first half, with the index eventually touching an intraday low near 23,740 around 12:45 PM.

In the second half, Nifty finally found some support and gradually recovered from the lows, climbing back towards 23,775–23,780 by around 2 PM. The recovery briefly extended towards 23,785 around 2:30 PM, but selling pressure returned in the final hour, dragging the index back towards 23,740.

A late recovery, followed by a boost during the closing auction session, helped Nifty regain some lost ground and close at 23,779.15. Despite the late bounce, the index ended around 104 points below its opening level, extending the prevailing weakness in domestic markets.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 8th September:

• The maximum Call Open Interest (OI) is observed at 24,000, followed by 23,900, indicating potential resistance at the 23,900- 24,000 levels.

• The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,700, suggesting support at 23,700-23,600.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

SEBI has exempted FPIs investing exclusively in Indian government securities from submitting investor-group details, reducing compliance requirements. The exemption, previously limited to investments through the Fully Accessible Route, will now apply across all government-security investment routes. Dive deeper

India’s automobile retail sales rose 17.5% YoY to 24.23 lakh units in August, led by two-wheelers (+19.7%), passenger vehicles (+16.1%) and commercial vehicles (+14.5%). However, sales fell 6.5% MoM, reflecting the monsoon lull and shift in festive buying into September. Dive deeper

India’s Defence Acquisition Council cleared capital acquisition proposals worth around ₹1.1 lakh crore, with roughly 98% of the procurement to be sourced from domestic companies. The move is aimed at boosting indigenous defence manufacturing and reducing reliance on imports. Dive deeper

Novartis India approved the acquisition of the ‘Minipress’ and ‘Minipres’ trademarks and related intellectual property from Pfizer for around ₹1,250 crore. Dive deeper

Maruti Suzuki will raise prices of select models by up to ₹20,000 from September, citing higher input costs and inflationary pressures. This marks the carmaker’s third price hike since May, though the latest increase will not apply across its entire portfolio. Dive deeper

TCS launched a 4,500-square-foot AI-native Creative Engineering Studio in London, bringing together creative, industry and engineering teams. The facility will help clients use AI to improve customer experiences, drive revenue growth and boost operational efficiency. Dive deeper

Asian Paints appointed Leo Puri as chairman-designate, with Puri set to succeed R. Seshasayee as chairman on January 23, 2027. The leadership transition comes as the company faces intensifying competition in the decorative paints market. Dive deeper

Top Stories Globally

Brent crude rose to a six-week high of $97.5 per barrel, nearly 40% above pre-war levels, as prolonged U.S.-Iran tensions kept supply concerns elevated. Iran said it was close to agreeing on a tanker route through the Strait of Hormuz with Oman, though continued strikes and the U.S. naval blockade kept risks high. Dive deeper

Jaguar Land Rover will cut around 4,000 jobs globally over the next two years, targeting £1.7 billion in savings as it faces Chinese competition, tariffs and other industry pressures. The company aims to lower its break-even point towards 300,000 vehicles. Dive deeper

European Commission President Ursula von der Leyen announced a €200 million ($232.5 million) partnership with Greenland, underscoring the Arctic island’s growing strategic importance to the European Union. Dive deeper

The Japanese yen surged to a seven-month high, briefly reaching 154.05 per dollar, supported by expectations of faster Bank of Japan tightening, capital repatriation and unwinding carry trades. The yen strengthened around 1% on Monday, moving beyond levels reached after the U.S.-Japan intervention in July. Dive deeper

The Eurozone economy grew 0.6% QoQ in Q2 2026, revised up from 0.4% and its strongest growth since Q2 2022. The upgrade was driven largely by Ireland’s 10.2% surge in GDP, while Germany grew 0.3%, Spain 0.7%, and Italy 0.2%. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Murali Krishna, chief global officer & country head, Providence India on the future of GCCs in India:

For decades, GCCs were measured by headcount. Increasingly, they will be measured by the innovation they lead, products they build and business outcomes they deliver. India is already seeing this shift, with GCCs taking ownership of product development, AI, cybersecurity, platforms and enterprise transformation. As they build deeper domain expertise, the move from execution to creation – and eventually commercialisation – is becoming a natural next step.

India is well positioned for this evolution, with GCCs contributing to R&D, product innovation, AI, cybersecurity and strategic decision-making. Healthcare is particularly compelling because its challenges are complex, regulated and mission-critical, creating opportunities to take proven solutions to other health systems. - Link

Partho Banerjee, Senior Executive Officer, Marketing & Sales of Maruti Suzuki, on Strong sales performance in regional markets like Kerala during Onam, indicating healthy underlying demand ahead of the national festive season:

“For Maruti, every day is a festive season now. But just to give you a perspective on Onam, in the previous month, we saw very strong retail sales in the Kerala market. For the first time in Maruti’s history, our van market share in Kerala reached 60%. That clearly shows vehicles are in high demand—be it in Kerala or across the country—and we are expecting that during the festive season, there will be a further surge in sales.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we take a closer look at India’s market-cap-based indexes — from the Nifty 50 and Nifty Next 50 to the Midcap 150, Smallcap 250 and Nifty 500.

We compare seven major indexes to see how they differ in composition, performance, risk, and diversification, and look at what the data tells us about investing across different parts of the market.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened with a small 37-point gap up at 23,911, despite a strong showing by global markets, as the weak trend in Indian equities continued. The index initially traded around 23,895-23,900 for 15-20 minutes, but recovered sharply thereafter, moving past 23,960 within the first hour.

The recovery gathered momentum through the morning, with Nifty steadily climbing towards 23,980 before briefly touching the 24,000 mark around 11:30 AM. However, the gains proved difficult to sustain, and the index quickly retreated towards 23,960 by noon.

In the second half, selling pressure continued, dragging Nifty towards the 23,930–23,940 zone by around 1 PM. The index remained choppy thereafter, with multiple recovery attempts towards 23,950-23,960 failing to sustain.

Nifty spent most of the final hour around 23,930-23,945, before a sharp fall during the closing auction session pushed it below 23,900. The index eventually closed at 23,897.70, near the day’s low and around 13 points below its opening level, giving up the entire intraday recovery despite briefly testing 24,000.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 8th September:

• The maximum Call Open Interest (OI) is observed at 24,000, followed by 24,100, indicating potential resistance at the 24,100- 24,200 levels.

• The maximum Put Open Interest (OI) is observed at 23,900, followed by 23,800, suggesting support at 23,800-23,700.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

SEBI is set to revise the methodology for determining derivative settlement prices following the introduction of the Closing Auction Session (CAS), with changes expected within a week. The move follows feedback from market participants and other stakeholders on the new closing mechanism. Dive deeper

Shares of Polycab and KEI Industries came under pressure after UltraTech Cement launched its wires and cables brand Ultravolt, backed by a ₹1,800 crore investment. Brokerages warned that the Aditya Birla Group’s aggressive entry could intensify competition and trigger a de-rating of existing players. Dive deeper

The RBI absorbed over ₹6.02 lakh crore of surplus banking-system liquidity through two three-day VRRR auctions, as liquidity remained at record highs. Banks parked the funds with the RBI at a cut-off rate of 5.24%. Dive deeper

Volkswagen Group’s India unit is reportedly cutting around 12% of its workforce as part of an accelerated three-year restructuring plan aimed at reducing costs ahead of its next investment cycle in India. Dive deeper

Kenyan President William Ruto has ordered Tata Chemicals to exit its century-old soda ash mining operations in the country and is seeking new investors. Ruto criticised the company for exporting soda ash instead of processing it locally into glass and chemicals. Dive deeper

Tata Realty & Infrastructure appointed Gaurav Jain as its new MD & CEO, effective October 1. Jain brings over 23 years of real estate experience, having previously worked with Birla Estates, Godrej Properties, Mahindra Lifespace and Unitech. Dive deeper

Top Stories Globally

Brent crude traded around $95 per barrel but was up nearly 8% for the week, its strongest weekly gain since mid-July, as renewed U.S.-Iran strikes and Israeli threats heightened concerns over Middle East supply disruptions. Dive deeper

Global food prices rose to their highest since November 2022, with the FAO Food Price Index climbing to 133.3 in August from 130.8 in July. Adverse weather and disruptions from the Ukraine and Iran wars pushed grain prices to three-year highs and sugar to a one-year high. Dive deeper

Crusoe has reportedly signed a five-year cloud contract worth around $13 billion with trading firm Jane Street, under which it will provide advanced AI GPUs and infrastructure for AI training and inference. Dive deeper

U.S. diesel prices hit a record $5.85 per gallon, up from around $3.76 before the Iran war began in February. Prices have surged as Middle East production cuts and disruptions to tanker traffic through the Strait of Hormuz pushed crude and fuel costs higher. Dive deeper

Volkswagen plans to cut around 50,000 jobs globally, with roughly half of the reductions expected in Germany, according to Lower Saxony Premier Olaf Lies. He added that no agreement has been reached on plant closures, with efforts underway to retain production at German facilities. Dive deeper

Norway’s $2.3 trillion sovereign wealth fund has proposed cutting government bonds from 70% to 50% of its benchmark bond index, with U.S. Treasuries likely to see the biggest reduction. The move is aimed at diversifying its fixed-income portfolio and improving returns. Dive deeper

The average U.S. 30-year fixed mortgage rate rose to 6.71% from 6.66% last week, its highest since July 2025. Rates have climbed as higher energy prices and renewed Middle East tensions fuel inflation concerns. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

C. Ramachandra Rao, Joint MD & Company Secretary of Avanti Feeds, assesses the shrimp industry’s paradox:

“To conclude, India’s shrimp industry is currently in a paradoxical situation. The sector has never been so strong in terms of production and exports. However, the economics at different stages of shrimp value chain are becoming increasingly fragile, creating challenges for the long-term sustainability of the industry.

That said, I would like to share with you that state and central governments along with various stakeholders across the value chain are actively engaged in addressing these challenges and exploring long-term solutions for sustainable growth of the shrimp industry in the country.” - Link

Despite elevated prices, Gaurav Singh Kushwaha, CEO, BlueStone, isn’t seeing any structural weakening in gold’s appeal as an asset. If anything, conversations with customers suggest the opposite:

“I think what’s happening over the long term is that people’s belief in gold as a fundamental value—the fundamental asset value that gold carries—I think that belief has only strengthened. That shows up in our conversations as well. So I think people’s belief in gold is stronger.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we take a closer look at India's market-cap-based indexes — from the Nifty 50 and Nifty Next 50 to the Midcap 150, Smallcap 250 and Nifty 500.

We compare seven major indexes to see how they differ in composition, performance, risk, and diversification, and look at what the data tells us about investing across different parts of the market.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened with an 84-point gap up at 23,998, tracking positive global cues as global markets saw some relief despite elevated bond yields and oil prices. Positive sentiment in banking stocks, following record FCNR flows and a strong recovery in the rupee towards 94.5 against the dollar, also supported the opening. The index extended its gains immediately after the open, moving above 24,000 and touching the day’s high near 24,025 within the first hour.

However, the early strength faded quickly, with Nifty slipping back below 24,000 and gradually declining towards 23,930 by around 11 AM. A recovery attempt thereafter took the index back towards 23,970, but it failed to sustain, and Nifty ended the first half around the 23,930-23,940 zone.

The weakness persisted in the second half, with Nifty slipping towards 23,905–23,910 shortly after noon. The index attempted multiple recoveries through the afternoon, briefly moving towards 23,930, but each bounce was met with selling pressure.

Nifty largely remained confined to the 23,900–23,925 range until around 2:30 PM before weakening further in the final hour. The index slipped below 23,900 after 3 PM and, following another sharp fall during the closing auction session, eventually closed at 23,873.45, near the day’s low and around 125 points below its opening level.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 8th September:

• The maximum Call Open Interest (OI) is observed at 24,000, followed by 24,100, indicating potential resistance at the 24,100- 24,200 levels.

• The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,600, suggesting support at 23,800-23,700.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

The RBI’s special USD-INR forex swap facility attracted $136.37 billion in inflows by August 31, with FCNR(B) deposits contributing $127.22 billion, or nearly 90% of the total. OFCBs and ECBs contributed $5.26 billion and $3.89 billion, respectively. Dive deeper

The Indian rupee strengthened 0.5% to close at ₹94.485 per dollar, its highest level in 10 weeks, supported by stronger-than-expected dollar inflows under the RBI’s special scheme. It also marked the rupee’s biggest single-day gain since July 27. Dive deeper

SEBI proposed allowing mutual fund schemes to settle cash-market trades on a net basis, a facility already available to FPIs. The move is aimed at reducing temporary funding requirements and improving settlement efficiency for mutual funds. Dive deeper

India’s banking system liquidity surged to a four-year high of ₹7.7 lakh crore, largely driven by FCNR(B) inflows, prompting the RBI to step up liquidity absorption. Average surplus liquidity rose to ₹3.67 lakh crore in August from ₹1.07 lakh crore in July, potentially lowering banks’ funding costs. Dive deeper

Lumino Industries made a strong market debut, listing at ₹110 on the NSE, a 34.15% premium to its ₹82 issue price. The stock closed around the same price, up 34.5% from the issue price. Dive deeper

India’s average retail sugar price fell 3.85% in a week to ₹62.57/kg, following government measures including imports and tighter stockholding norms. However, prices remain 27% higher than a month ago, while wholesale prices also eased to ₹57.62/kg. Dive deeper

India and Belgium signed a Letter of Intent to deepen defence cooperation, covering military exchanges, training, research and defence-industry partnerships. The framework also opens the door for joint development and production of defence equipment. Dive deeper

Top Stories Globally

Oil prices hit fresh six-week highs, as new U.S. strikes on Iran and renewed Israeli threats against Tehran heightened concerns over Middle East supply disruptions. Brent rose 1.7% to $97.29 per barrel, while WTI gained 2.2% to $93.04, with both headed for a fourth consecutive session of gains. Dive deeper

The Japanese yen strengthened around 1.5% to a one-month high near 156.17 per dollar, as traders increased bets on further Bank of Japan rate hikes. The sharp move also revived speculation over possible currency intervention, though market participants largely attributed the gains to expectations of tighter monetary policy. Dive deeper

The U.S. trade deficit widened to $88.6 billion in July from $71.1 billion in June, marking its largest gap since March 2025. Exports fell 2.1% to $310.7 billion, led by lower crude oil and nonmonetary gold shipments. Dive deeper

Nvidia will acquire AI developer platform Hugging Face for $12.93 billion, strengthening its push into open AI models. The deal gives Nvidia access to a widely used platform where developers build, test, and share AI models and tools. Dive deeper

PayPal is reportedly laying off nearly a quarter of its roughly 6,700 employees in India, as part of its multi-year restructuring. The company said the cuts are aimed at simplifying global operations, improving execution, and supporting long-term growth. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

RBI Deputy Governor Shirish Chandra Murmu asked NBFCs and HFCs to diversify their funding sources:

“NBFCs and HFCs are no longer on the sidelines of this story. They extend credit to the last mile, reach the underserved, and bring innovation to lending across the country.”

“Entities must diversify their funding sources. A deep, liquid corporate bond market will help, and we will keep working with market participants to build one.”

“Securitisation should also grow beyond a liquidity tool into a genuine way to transfer risk and free up capital, with proper skin-in-the-game and transparency rules.” - Link

Society of Indian Automobile Manufacturers President Shailesh Chandra on Automobile sector’s contribution to the economy:

‘‘The sector’s overall contribution to the Indian economy exceeded Rs 22.75 lakh crore, contributing to about 15 per cent of the country’s GST collections.’’

“The industry provides direct and indirect employment to more than 30 million people and has a significant multiplier effect across related sectors and supports a vast supply chain network.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we look at what an average really is, the three kinds of mean — arithmetic, geometric, and harmonic — and why each is useful in a different context.

We also trace how averaging evolved from ancient mathematics to statistics and eventually into financial markets. Finally, we get into the modern indicators: SMA, EMA, volume-weighted and adaptive moving averages, VWAP, and anchored VWAP, and how moving averages are actually used to identify trends. We also look at when they fail — and what you can use instead.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened with a big 198-point gap down at 23,858, tracking weak global markets amid a relentless surge in bond yields across the globe and rising oil prices. The index remained under pressure immediately after the open, briefly slipping towards 23,790 before attempting a recovery. Nifty gradually climbed back towards the 23,880–23,890 zone by around 10:30 AM, but the recovery failed to sustain.

Selling resumed thereafter, dragging the index back towards 23,825 by 11 AM and eventually near 23,800 around noon. By the end of the first half, however, some buying emerged from the lows, helping Nifty recover towards 23,850.

The recovery gathered momentum in the second half, with Nifty steadily climbing towards the 23,870–23,880 zone by around 1:30 PM. After a brief period of consolidation, the index extended its recovery after 2 PM and moved close to 23,910 around 2:30 PM.

A pullback towards 23,860 followed in the final hour, but buyers stepped in again, taking Nifty back towards 23,885 heading into the close. A further boost during the closing auction session lifted the index to 23,914.45, helping it recover more than 100 points from the day’s low, though it still ended around 140 points below the previous close.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 8th September:

• The maximum Call Open Interest (OI) is observed at 24,200, followed by 24,000, indicating potential resistance at the 24,100- 24,200 levels.

• The maximum Put Open Interest (OI) is observed at 23,800, followed by 23,500, suggesting support at 23,800-23,700.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

Japan Credit Rating Agency upgraded India’s sovereign credit rating by one notch to A- from BBB+, with a Stable outlook, citing strong economic growth and an improving financial system. JCR highlighted India’s 7% growth, supported by robust private consumption and public investment. Dive deeper

Adani Ports handled a record 50 million tonnes of cargo in August, up 19% YoY, marking its highest-ever monthly throughput, supported by stronger domestic activity, container trade and a diversified cargo mix. Dive deeper

Amul was named the world’s strongest dairy brand, with its brand value rising 22% to $5 billion and a Brand Strength Index score of 93/100. It ranked fourth among global dairy brands by value, supported by new product launches and overseas expansion. Dive deeper

Indian banks’ fundraising through certificates of deposit fell to a four-month low of ₹68,130 crore in August, from ₹95,945 crore in July. The decline was driven by higher FCNR(B) deposit mobilisation and surplus liquidity in the banking system. Dive deeper

Tata Motors’ commercial vehicle business received European Central Bank approval for its €3.8 billion (₹40,000 crore) takeover offer for Iveco Group, completing the required sector-regulatory clearances and moving the deal closer to the shareholder offer stage. Dive deeper

ICICI Bank mobilised $17.88 billion through FCNR(B) deposits by August 31 under the RBI’s concessional swap facility. The scheme was introduced to boost foreign-exchange liquidity and strengthen India’s external-sector position amid global uncertainty. Dive deeper

Reliance Industries’ FMCG arm Reliance Consumer Products entered India’s ice cream market with the launch of Bombay Creamery, positioning it as an accessible premium dairy brand made with authentic dairy ingredients. Dive deeper

Top Stories Globally

Crude oil hovered around $90 per barrel, near six-week highs, after rallying over the previous two sessions as escalating U.S.-Iran hostilities kept concerns over Middle East supply disruptions elevated. Dive deeper

The U.S. dollar index rose to a two-week high near 99.8, as investors sought the currency amid concerns over the economic impact of higher energy prices. The dollar also benefited from the U.S. economy’s relatively lower exposure to the oil shock compared with Europe and Japan. Dive deeper

Taiwanese companies are planning an additional $20 billion of investments in the U.S., driven by growing demand for AI applications, according to Taiwan’s economy minister. Dive deeper

Dell Technologies shares jumped 9% after-hours after Q2 revenue surged 58% YoY to $46.97 billion, beating estimates, while adjusted EPS of $7.04 also topped expectations. Dell raised its FY27 revenue outlook to $192 billion, as growing AI and agentic workloads are also driving incremental demand for traditional servers and CPU compute capacity. Dive deeper

European stocks remained subdued, with the STOXX 50 flat and STOXX 600 down 0.1% near one-month lows, as escalating Middle East tensions kept oil prices elevated, fuelling inflation concerns and expectations of tighter monetary policy. Dive deeper

Uber is reportedly cutting around 3,300 jobs, or 10% of its global workforce, as part of a restructuring aimed at reducing management layers and redirecting spending towards ride-sharing, delivery and robotaxi businesses. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

AB InBev India, the maker of Budweiser and Corona on strong growth due to favourable policy changes & premiumisation:

“The change in Maharashtra’s policy to equalise the tax on beer and other spirts started us off on a good note for the year. That, coupled with performance in bellwether states such as Karnataka, West Bengal, and Telangana, led us to a high double-digit growth in the first quarter. The strong summer season and the delay in monsoon provided further impetus,”

“This is what we are very encouraged by. The directional trends are very encouraging and we see no reason why it slows down into this last quarter. The upcoming festive season will provide further impetus and give us a favourable momentum that we have not seen in a long time,” - Link

Denmark-based global towage provider Svitzer says India’s maritime ecosystem is evolving beyond ports and trade:

India has many of the building blocks required to become a globally competitive hub for next-generation, low-emission vessel manufacturing. The Maritime Amrit Kaal Vision 2047 sets an ambition for India to be among the world’s top five countries in ship ownership and shipbuilding by 2047.

This ambition is supported by encouraging growth in domestic shipbuilding, with the latest UN Trade and Development (UNCTAD) data showing shipbuilding output increased by 41%, from 40,923 GT in 2024 to 57,637 GT in 2025. - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we look at what an average really is, the three kinds of mean — arithmetic, geometric, and harmonic — and why each is useful in a different context.

We also trace how averaging evolved from ancient mathematics to statistics and eventually into financial markets. Finally, we get into the modern indicators: SMA, EMA, volume-weighted and adaptive moving averages, VWAP, and anchored VWAP, and how moving averages are actually used to identify trends. We also look at when they fail — and what you can use instead.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened flat at 24,078, tracking weak global markets amid surging bond yields worldwide and rising oil prices. The index came under pressure immediately after the open, slipping towards the 24,020- 24,025 zone within the first hour. However, buying emerged from the lows, triggering a steady recovery that took Nifty back above 24,050 by around 10:15 AM.

The rebound gathered momentum thereafter, with the index climbing above 24,100 and eventually touching the day’s high near 24,130–24,140 around 11:30 AM. The recovery began losing steam towards the end of the first half, though Nifty continued to hold above 24,100.

The second half saw a complete reversal of the morning recovery. Nifty slipped below 24,100 shortly after 12:30 PM, with selling pressure intensifying thereafter. The index fell below 24,050 around 1:30 PM and subsequently broke the 24,000 mark, eventually touching the day’s low near 23,950- 23,960 shortly after 2 PM.

Nifty remained under pressure for most of the final hour, oscillating largely between 23,960 and 23,980. However, a sharp move during the closing auction session lifted the index back above 24,050, with Nifty eventually closing at 24,055.80, around 22 points below its opening level.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 8th September:

• The maximum Call Open Interest (OI) is observed at 24,200, followed by 24,500, indicating potential resistance at the 24,200- 24,300 levels.

• The maximum Put Open Interest (OI) is observed at 24,000, followed by 23,600, suggesting support at 24,000-23,900.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

India’s gross GST collections rose 14.8% YoY to nearly ₹2 lakh crore in August, though lower than ₹2.11 lakh crore in July. Import-related GST surged 29% to ₹62,604 crore, while domestic collections grew 9% to ₹1.37 lakh crore. Dive deeper

India’s manufacturing PMI fell to 52.8 in August from 53.5 in July, marking its third consecutive monthly decline and the weakest expansion in five years. Output growth slowed to its weakest since August 2021, while employment contracted for the first time in over two years amid softer demand. Dive deeper

Tata Motors reported a 49% YoY jump in total commercial vehicle sales to 44,411 units in August, while domestic CV sales rose 33% to 36,619 units. Dive deeper

India’s power consumption jumped 12.85% YoY to 169.01 billion units in August, as humid conditions drove higher use of cooling appliances. Peak power demand also rose to 258.27 GW from 229.72 GW a year earlier. Dive deeper

Coal India’s coal production fell 5.7% YoY to 47.5 MT in August, while offtake rose 5.5% to 60.6 MT. Cumulative production during April- August declined 4.5% YoY to 267.5 MT. Dive deeper

India’s UPI transaction value stood at ₹29.8 lakh crore in August, close to the record ₹29.9 lakh crore, while transaction volumes hit a new high of 24.51 billion, up from 23.66 billion in July. Dive deeper

Royal Enfield sold 1.26 lakh motorcycles in August, up 11% YoY, with domestic sales rising 11% and exports 10%. YTD sales grew 23% to 5.75 lakh units, driven by a 28% rise in domestic sales, while exports declined 9%. Dive deeper

Top Stories Globally

WTI crude rose to around $88 per barrel after gaining 2.8% on Monday, as renewed U.S.-Iran hostilities raised concerns over prolonged disruptions to energy shipments through the Strait of Hormuz. Dive deeper

Japan’s 10-year government bond yield hit 3% for the first time since 1996, joining a broader global bond selloff. Higher oil-driven inflation, expectations of further monetary tightening, and concerns over worsening fiscal conditions pushed yields higher across major markets. Dive deeper

The U.S. dollar strengthened while the Japanese yen weakened past 160 per dollar, as renewed U.S.-Iran tensions pushed Brent above $91 and triggered a global bond selloff on inflation concerns. The yen has now given back most of the gains following the rare U.S.-Japan joint intervention in July. Dive deeper

BYD delivered 440,293 vehicles in August, up 17.8% YoY, marking its fourth consecutive month of sales growth. Stronger overseas sales helped offset competitive pressures in China’s EV market. Dive deeper

Gold prices fell more than 1% to around $4,375 per ounce, their lowest since August 19, as U.S. Treasury yields climbed to their highest since January 2025. Middle East-driven inflation concerns and expectations of a near-term Fed rate hike weighed on the non-yielding metal. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Excerpts from Nasscom’s report & Nasscom President Rajesh Nambiar’s views on India’s ER&D:

“Global ER&D spending is projected to reach $2.48–2.50 trillion by 2030, growing at a CAGR of 8–9 per cent between CY24 and CY30. With an estimated revenue of $63 billion in FY26, India’s ER&D services revenue is projected to cross $100 billion by 2030. Technological disruption and a sharper focus on innovation and value are creating new areas of demand.”

“India’s ER&D growth will be shaped by how effectively we combine our engineering depth with AI to take on greater ownership of global product development.”

“Physical AI adds an important new dimension to this opportunity. India has the engineering talent, domain expertise and scale to play a much larger role across this lifecycle. The opportunity now is to move further towards systems-led engineering and co-creation of intelligent products and platforms.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we look at what an average really is, the three kinds of mean — arithmetic, geometric, and harmonic — and why each is useful in a different context.

We also trace how averaging evolved from ancient mathematics to statistics and eventually into financial markets. Finally, we get into the modern indicators: SMA, EMA, volume-weighted and adaptive moving averages, VWAP, and anchored VWAP, and how moving averages are actually used to identify trends. We also look at when they fail — and what you can use instead.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened with a 58-point gap down at 24,118, tracking mixed global cues following the Fed Chair’s Jackson Hole speech, while a fresh flare-up in Middle East tensions pushed oil prices over 4% higher. The index came under pressure immediately after the open, slipping to 24,020 within the first 20 minutes. After a brief recovery attempt towards 24,050, selling resumed and dragged Nifty steadily lower through the first half.

The index eventually slipped below 24,000 around 10:30 AM, marking the day’s low near 23,995, before beginning to recover. A sharp rebound around noon took Nifty back towards the 24,070–24,075 zone.

In the second half, Nifty largely consolidated between 24,050 and 24,075, with repeated attempts to move higher failing to generate sustained momentum. Weakness briefly returned after 2 PM, taking the index towards 24,020, but buyers stepped in again and helped it recover through the final hour.

Nifty moved above 24,050 and briefly crossed 24,100 before giving up some of those gains and coming back to 24,050. A final push during the closing auction session lifted the index to 24,080.40, helping it recover more than 80 points from the day’s low, although it still finished below its opening level.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 1st September:

• The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,300, indicating potential resistance at the 24,200- 24,300 levels.

• The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,100, suggesting support at 24,000-23,900.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

India’s GDP growth accelerated to 7.8% YoY in Q1FY27 from 6.9% a year ago, driven by 9.2% manufacturing growth and an 11.9% jump in investment demand. Agriculture grew 3.6%, construction 7.7%, and utilities 8.9%, while mining contracted 2.4%. Dive deeper

India’s fiscal deficit stood at ₹4.55 lakh crore during April–July, or 26.8% of the FY27 target, compared with ₹4.7 lakh crore in the same period last year. Dive deeper

HDFC Bank shares initially rose nearly 3% before reversing to close around 1.5% lower, after MD & CEO Sashidhar Jagdishan said he would not seek reappointment when his term ends on October 26. The bank said it will fast-track the selection of his successor. Dive deeper

Maruti Suzuki plans to invest ₹77,500 crore over five years through FY31 towards capacity expansion, new models and R&D. FY27 capex is set to jump 40% to ₹14,000 crore from around ₹10,000 crore last year. Dive deeper

India’s real estate services output surged 24.7% YoY in June, making it the fastest-growing services segment, followed by retail trade at 18% and wholesale trade at 15.1%. Eight of 19 services sub-sectors recorded double-digit growth, while air transport was the only segment to contract. Dive deeper

India’s August rainfall was 16% below normal, taking cumulative monsoon rainfall during June–August to 603.7 mm, 14% below the long-period average. Of the meteorological subdivisions, 17 recorded deficient rainfall, and 18 received normal rainfall, while Odisha was the only state with excess rainfall. Dive deeper

Milky Mist Dairy Food reported a nearly tenfold YoY jump in Q1 consolidated net profit to ₹64.7 crore from ₹6.5 crore, while revenue grew 43.6% to ₹973 crore. Earnings were supported by strong revenue growth and improved operating margins. Dive deeper

Top Stories Globally

Oil prices jumped more than 3% as U.S.-Iran hostilities escalated again, with U.S. forces striking Iran’s Larak Island and Tehran retaliating. Brent rose to around $91 per barrel and WTI to $86.3, as renewed tensions raised concerns over oil flows through the Strait of Hormuz. Dive deeper

Venezuela and the U.S. have agreed to a 25-year energy partnership targeting crude production of over 1.5 million barrels per day from 17 strategic oilfields. Interim President Delcy Rodriguez said the deal would bring capital and technology to revive the oil industry while Venezuela retains ownership of its natural resources. Dive deeper

China’s three largest state-owned airlines, Air China, China Eastern and China Southern, reported combined H1 net losses of around 8.2 billion yuan ($1.22 billion), marking their seventh consecutive year of first-half losses. Surging jet fuel prices hit earnings, while a weak summer travel season clouds the outlook. Dive deeper

Germany’s inflation rose to 2.9% in August from July, reaching its highest level since April, but remained below expectations of 3%. Energy inflation jumped to 10.5% from 8.3% amid higher crude prices, while services and food inflation eased. Dive deeper

European bond yields climbed to multi-year highs, with Germany’s 10-year Bund yield reaching 3.3% for the first time since 2011 and French yields hitting their highest since 2008. Higher oil prices and hawkish central-bank signals strengthened expectations of further rate hikes. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Hisashi Takeuchi, MD & CEO of Maruti Suzuki India on E20 fuel compatibility:

"I would like to assure you that all of our current ongoing products are E20 compatible products. Actually, we have improved our compatibility with ethanol since the production year 2008. So after 2008, all of our products are E20 compatible." - Link

Sivaramakrishnan Ganapathi, VC and MD of Gokaldas Exports on Tariffs in Big markets like the US & Europe:

“Among the big markets—both Europe and the US—the US tariff is leveling off, which means we have a level playing field in terms of having the Section 301 tariff of 10% across the board in most countries. Our operations in Kenya, where it is 0%, actually bestow a favorable advantage on us. So on the tariff front as far as the US is concerned, it looks good for us for the moment, especially coming out of that 50% penal tariff that we encountered in the second, third, and fourth quarters of last year. So, it’s a good scenario on that front.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we look at what an average really is, the three kinds of mean — arithmetic, geometric, and harmonic — and why each is useful in a different context.

We also trace how averaging evolved from ancient mathematics to statistics and eventually into financial markets. Finally, we get into the modern indicators: SMA, EMA, volume-weighted and adaptive moving averages, VWAP, and anchored VWAP, and how moving averages are actually used to identify trends. We also look at when they fail — and what you can use instead.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened with a small 32-point gap up at 24,123, tracking stable global cues despite the weak trend in domestic markets of late. The index gained further immediately after the open, moving above 24,150 and eventually towards the 24,170–24,175 zone during the first hour.

However, the early strength failed to sustain, with Nifty turning lower after 10:30 AM and giving up most of its gains. The decline accelerated around 11:15 AM, dragging the index towards 24,100 and eventually to the day’s low near 24,075 around noon. A modest recovery followed towards the end of the first half, taking Nifty back above 24,100, though the index remained well below its morning highs.

The second half began on a subdued note, with Nifty oscillating largely between 24,090 and 24,120 through the early afternoon. The tone gradually improved after 2:30 PM, with the index forming a steady recovery and moving above 24,120 by then. After some volatility, buying strengthened in the final hour, pushing Nifty towards 24,140 before a brief pullback. The index recovered again heading into the close, and a strong move during the closing auction session lifted it sharply to 24,175.65, the day’s high, helping Nifty finish around 50 points above its opening level.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 1st September:

• The maximum Call Open Interest (OI) is observed at 24,300, followed by 24,500, indicating potential resistance at the 24,300- 24,400 levels.

• The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,100, suggesting support at 24,000-23,900.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

India’s industrial production growth slowed to 6.7% YoY in July from 7.3% in June, with manufacturing growing 7.3% and electricity & gas supply 8.7%, while mining contracted 0.9%. Within manufacturing, 19 of 23 industry groups expanded, led by electrical equipment (+28.3%) and motor vehicles (+22.2%). Dive deeper

India’s forex reserves surged $12.42 billion to a record $729.33 billion in the week ended August 21, surpassing the previous peak of $728.49 billion in February. Foreign currency assets rose $9.48 billion to $591.33 billion, driving most of the increase. Dive deeper

The government has achieved around 78% of its FY27 disinvestment and asset monetisation target of ₹80,000 crore within five months, raising ₹55,757 crore through stake sales in nine PSUs, including LIC and Coal India, alongside strategic sales and SUUTI remittances. Dive deeper

IndiGo’s venture capital arm IndiGo Ventures will invest in Indian AI startup Sarvam as part of its Series B funding round, with financial terms undisclosed. The investment expands their existing partnership to use AI across customer experience, employee support, and airline operations. Dive deeper

TVS Motor Company appointed Peyman Kargar as its next CEO and Director for a five-year term from January 27, 2027, succeeding K N Radhakrishnan. Kargar currently heads the company’s international business and will lead its push into premium products and developed markets. Dive deeper

India’s wireless subscriber base grew by 55.38 lakh in July to 128.79 crore, with Bharti Airtel leading additions at 26.8 lakh, followed by Reliance Jio at 24.4 lakh. Vodafone Idea and BSNL also added 2.4 lakh and 1.68 lakh subscribers, respectively. Dive deeper

The Road Transport Ministry will appoint Engineers India Ltd (EIL) as a third-party inspection agency for around 5,000 km of expressways and national highways amid concerns over construction quality and premature failures. EIL will initially be engaged for three years and monitor projects throughout their construction period. Dive deeper

Tejas Networks shares rallied nearly 13% after the company received a Letter of Intent from TCS for a potential ₹1,537-crore order to supply RAN equipment, accessories and installation materials for BSNL’s 4G network. Dive deeper

Top Stories Globally

WTI crude fell below $83 per barrel, taking weekly losses to nearly 5%, as Persian Gulf oil exports, as per Goldman Sachs, continued to recover with increased shipments through the Strait of Hormuz. Regional exports have risen to 15–16 million barrels per day from March lows of 5–6 million, though still below pre-conflict levels. Dive deeper

SK Hynix plans to begin volume production of next-generation HBM4E chips at its Indiana facility in Q3 2029. The company also expects the current memory-chip shortage to persist through the end of 2030, reflecting sustained demand for AI-related chips. Dive deeper

Toyota global sales fell 4.8% YoY to 856,125 vehicles in July, while production declined 2.1%. Sales plunged 24.3% in China and 44.5% in the Middle East, while U.S. sales slipped 0.8%, offsetting an 11% rise in Japan. Dive deeper

ICBC, the world’s largest bank by assets, reported a 3.3% YoY rise in H1 net profit to 173.7 billion yuan ($25.85 billion), despite slowing credit growth and subdued loan demand weighing on China’s banking sector. Dive deeper

BYD reported a 20.5% YoY drop in H1 net profit to 12.3 billion yuan ($1.83 billion), while revenue fell 7.1% to 344.8 billion yuan. Earnings were hit by a prolonged EV price war and softer demand in China. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Former RBI Governor Raghuram Rajan urges Fed to raise rates, says rupee is not in panic zone:

“The Fed should be raising rates or should have raised rates already; I would be more hawkish than where the Fed is right now.”

“I do think that financial conditions are not restrictive at this point.” The US growth is coming from “very strong” investment in data centers. The US also has a “very strong fiscal deficit, which doesn’t look like it’s coming down anytime soon.”

American consumers are running down savings and continuing to spend. “When you have all these things together, it would suggest an economy which is not being held back.”

“At this point, I don’t think the currency (Rupee) is that far out of whack; I don’t think it’s a panic situation.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we look at four more research papers that explore different ways of generating alpha. We start with what alpha actually means, before looking at mean reversion, momentum, option selling, and trend following.

We’ll see why losers can beat winners over the long run, why winners tend to keep winning over shorter periods, why option sellers earn a premium for taking on volatility risk, and how trend following has worked across 58 different futures markets.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened with a 70-point gap up at 24,278, tracking slightly positive global cues following Nvidia’s stellar numbers, while softer oil prices also provided some relief. However, the positive opening failed to sustain, with the index quickly giving up the gap and slipping towards 24,200 in the opening hour.

Selling pressure continued thereafter, taking Nifty gradually lower towards the 24,145–24,150 zone by around 11:15 AM. The index attempted a few recoveries through the remainder of the first half, but these were short-lived, keeping it largely below 24,175.

In the second half, Nifty recovered towards 24,190–24,200 around 1:15 PM, before another round of selling dragged it to around 24,125 shortly after 2 PM. A modest rebound towards 24,160 followed, but the index weakened again during the final hour and remained around 24,130–24,140 heading into the close. A sharp fall during the closing auction session then pushed Nifty below 24,100, with the index eventually closing at 24,090.85, near the day’s low and almost 190 points below its opening level.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 1st September:

• The maximum Call Open Interest (OI) is observed at 24,300, followed by 24,500, indicating potential resistance at the 24,300- 24,400 levels.

• The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,200, suggesting support at 24,000-23,900.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

HDFC Bank shares fell to a fresh 52-week low after a securities lawsuit was filed in the U.S. against the bank and senior executives Sashidhar Jagdishan and Srinivasan Vaidyanathan. The legal action triggered fresh investor concerns, putting further pressure on the stock. Dive deeper

The NCLT approved Zee Group founder Subhash Chandra’s personal insolvency repayment plan, under which creditors will recover just ₹6.5 crore against admitted claims of ₹22,006.57 crore, implying a haircut of nearly 99.97%. The tribunal approved the plan despite objections from lenders led by LIC Housing Finance, which had challenged the payout as unviable and unlawful. Dive deeper

Tata Power lost its challenge to a $490 million arbitration award related to a dispute with Kleros Capital Partners over a Russian coal asset. The Singapore International Commercial Court rejected Tata Power’s challenge to both the damages awarded and its claim of a breach of natural justice. Dive deeper

Bharti Airtel shares traded lower after Singtel said it plans to gradually reduce its stake in Airtel to align its economic ownership with the Bharti promoter group. The move is part of Singtel’s capital recycling strategy to unlock value, reduce debt and invest in growth areas such as data centres and digital services. Dive deeper

India’s sugar prices have begun easing following government measures, with mill-gate prices falling around 25% in a week after previously crossing ₹6,700 per quintal. Retail sugar prices also declined to ₹64.33/kg from ₹65.07/kg a day earlier. Dive deeper

Wipro ADRs rose nearly 5% in U.S. pre-market trading after the IT major announced an expanded partnership with Google Cloud to accelerate enterprise-wide AI adoption and AI-led transformation. Dive deeper

Top Stories Globally

Nvidia beat Q2 expectations, with data-centre revenue surging 117% YoY to $89 billion, and guided for Q3 revenue of around $108 billion. Shares initially struggled but later jumped over 4% after CEO Jensen Huang said AI had reached an inflection point, with Nvidia expecting FY28 revenue growth of around 70%. Dive deeper

WTI crude traded around $82 per barrel after three consecutive sessions of losses, as hopes of easing shipping disruptions through the Strait of Hormuz weighed on prices. However, uncertainty over the strait’s reopening and growing disruptions to Russian energy exports kept supply risks elevated. Dive deeper

Gold traded largely flat around $4,590 per ounce, as investors awaited Fed Chair Kevin Warsh’s Jackson Hole speech for clues on the interest-rate outlook. Despite slightly hotter U.S. inflation, global debt concerns continued to support safe-haven demand. Dive deeper

Meta will pay up to $18 billion over 10 years to settle claims by nearly all U.S. states that Facebook and Instagram harmed and addicted young users. The agreement also introduces nationwide restrictions for teenagers, including default two-hour daily limits and overnight usage restrictions. Dive deeper

ECB policymakers unanimously agreed to keep interest rates unchanged in July, after the first rate hike since 2023 in June, citing uncertainty over the full inflationary impact of the energy shock. However, some policymakers remained open to further rate hikes, suggesting the tightening cycle may not be over. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Anil Ghelani, Head of Passive Investments & Products, DSP Mutual Fund on passive funds:

India's passive funds are around 17-18 per cent of the total mutual fund industry. In the US, this is above 50 per cent, which means passive funds are now larger than active funds. I don’t expect to see that in India anytime soon, but I surely feel that passive funds could account for around 30 per cent of industry assets in the next five years. For us, and for other serious long-term players, the key opportunity lies in deepening this shift through investor education, innovative indices, and strengthening our presence across retail, institutional, and wealth channels. - Link

Rituraj Sharma, CEO of Borosil Ltd says that competition from Chinese borosilicate glassware remains a structural challenge, with the anti-dumping investigation still underway:

“You’re right. Actually, this is what last quarter also we had shared. And unfortunately, this continues to happen. And despite depreciation of the rupee as well as the shipping freight rates going up, I would say, in the market, we are not seeing much of a difference as far as the Chinese dumping is concerned. If that answers the question.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we trace the fascinating story behind the Black-Scholes option pricing formula, from Robert Brown’s observations of pollen grains in 1827 to the work of Louis Bachelier, Albert Einstein, Paul Samuelson, Fischer Black, Myron Scholes and Robert Merton.

We look at what Black-Scholes actually does, how it helps determine the fair value of an option, and the key insight that finally made option pricing possible without having to predict where a stock would go.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

Markets Today

Nifty opened flat at 24,342, tracking mixed global cues despite some relief from cooling oil prices, with Brent crude falling back towards the $86-per-barrel range. The index initially moved higher, briefly climbing towards 24,370–24,375 in the opening hour, but the gains quickly faded as selling pressure emerged. Nifty slipped towards 24,300 by around 10:15 AM before attempting a modest recovery towards 24,330.

However, the recovery failed to sustain, and the index resumed its gradual decline through the remainder of the first half, falling below 24,300 and moving towards the 24,270–24,280 zone by noon.

The second half remained largely subdued and range-bound, with Nifty spending much of the session between 24,260 and 24,290. A brief recovery after 2:30 PM took the index close to 24,295, but it again struggled to build momentum and slipped back towards 24,275. The index remained around these levels heading into the close before a sharp fall during the closing auction session dragged Nifty down to 24,207.75, near the day's low and roughly 135 points below its opening level.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 1st September:

• The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,400 & 24,500, indicating potential resistance at the 24,400- 24,500 levels.

• The maximum Put Open Interest (OI) is observed at 24,200, followed by 24,300, suggesting support at 24,200-24,100.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

India attracted $30.7 billion in gross FDI during Q1FY27, the highest in at least 15 years, pushing net FDI to its strongest quarterly level since June 2022. Net FDI also turned positive in June at $1.3 billion, helped by higher inflows and lower overseas investments by Indian companies. Dive deeper

Coal stocks at India’s domestic-coal-based power plants fell to 28.36 MT as of August 24, enough for just 9.7 days of consumption, compared with the normative requirement of 19.4 days. The low inventory, likely the weakest level this year, is being driven largely by railway, logistics and coal-lifting constraints rather than production shortages. Dive deeper

India’s credit cards outstanding rose 9.9% YoY to 12.29 crore in July, though overall spending remained moderate. HDFC Bank added the most cards at 2.3 lakh, while ICICI Bank recorded the strongest growth among major issuers, with cards outstanding up 9% YoY and monthly spends rising 8%. Dive deeper

Gaja Alternative Asset Management made a positive market debut, listing at ₹185 on the NSE, a nearly 16% premium to its ₹160 issue price. However, the stock gave up most of its gains and closed at ₹168.67, ending its debut session just 5.4% above the IPO price. Dive deeper

DN Solutions has inaugurated its first manufacturing plant in India in Bengaluru, Karnataka, marking its first overseas manufacturing investment since its China facility in 2003. The Korean machine-tool maker has invested ₹600 crore in Phase 1 and is considering further investments of a similar scale depending on demand and business growth. Dive deeper

Larsen & Toubro has partnered with France’s FAYAT Road Equipment to market BOMAG’s specialised road construction machinery in India. The partnership will cover sales, after-sales support and spare parts, expanding L&T’s offerings in the country’s road and infrastructure equipment market. Dive deeper

Top Stories Globally

Brent crude fell towards $86 per barrel, extending losses for a third consecutive session, as Iran and Oman discussed a temporary joint maritime corridor in the Strait of Hormuz. The talks raised hopes of easing shipping disruptions, reducing concerns over Middle East oil supply risks. Dive deeper

The U.S. PCE price index rose 0.2% MoM in July, above expectations of 0.1%, while annual inflation remained elevated at 3.7%. Core PCE rose 0.2% as expected, with accelerating services inflation indicating that underlying price pressures remain sticky. Dive deeper

Huawei and HP have signed a multi-year patent cross-licensing agreement covering Wi-Fi technologies, including Wi-Fi 7. The deal gives both companies access to each other’s patents, though financial terms were not disclosed. Dive deeper

Apple unveiled a more powerful Mac mini aimed at users running AI agents remotely, starting at $899 with either the new M6 chip or M5 Pro. The launch, alongside an upgraded Mac Studio, is expected to be Tim Cook’s final major product unveiling as Apple CEO. Dive deeper

Nvidia results tonight will test whether its new Rubin chips can sustain the AI-driven growth boom, amid investor concerns over the durability of AI infrastructure spending. Analysts expect Q3 revenue to surge nearly 83% YoY to $104.2 billion, even as Nvidia faces scrutiny over its billions of dollars of investments back into the AI ecosystem. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Philipp Navratil, Global CEO of Nestle on Indian market & growth potential:

“Emerging markets have been driving growth for Nestle across the board, and India is leading the pack. In the first half of CY2026, India was the highest performing market in terms of growth. It is among the top ten markets for us, and it is becoming among the top five markets on the horizon.”

“Structurally in India, there is long-term growth potential with a large number of consumers that will move into the middle class, growing urbanization, and growing access to brands at both the premium spectrum and the value-conscious spectrum.....As we continue to focus on volume-led growth, we will invest in India not only in production capabilities but also in R&D, developing talent, driving business services and IT and ITES services for us.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

In our latest episode of In The Money by Zerodha, we trace the fascinating story behind the Black-Scholes option pricing formula, from Robert Brown's observations of pollen grains in 1827 to the work of Louis Bachelier, Albert Einstein, Paul Samuelson, Fischer Black, Myron Scholes and Robert Merton.

We look at what Black-Scholes actually does, how it helps determine the fair value of an option, and the key insight that finally made option pricing possible without having to predict where a stock would go.

Check out In The Money

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

In our latest episode of In The Money by Zerodha, we test a popular options strategy on NIFTY: selling a straddle or strangle 45 days before expiry.

Using over seven years of data, we compare 45 DTE straddles with 30 and 16 delta strangles, and then see what happens when we add a VIX filter. The results show why collecting more premium can matter, and how higher volatility can change the performance of the strategy.

But the backtest also highlights the risks, especially gap risk, drawdowns, and the danger of using too much leverage. So, how does the 45 DTE strategy actually hold up in India? Let’s look at the data.

Check out In The Money

Markets Today

Nifty opened with a 43-point gap down at 24,176, tracking lacklustre global cues and continued weakness in domestic sentiment. The index remained under pressure through the opening hour, slipping below 24,150 and eventually towards the 24,120–24,130 zone around 10:20 AM.

A modest recovery followed, taking Nifty back towards 24,155–24,160, but the rebound lacked momentum, and the index spent much of the remainder of the first half moving in a narrow 24,140–24,160 range. Around noon, Nifty briefly recovered towards 24,180, before giving up some of those gains and ending the first half near 24,160.

The second half initially remained weak and choppy, with the index again slipping towards 24,125 around 1:30 PM. However, the trend changed decisively after 2 PM as buying picked up steadily, encouraged by a 3% dip in oil prices, pushing Nifty above 24,200 by around 2:30 PM and then towards 24,250 in the final hour. The rally strengthened into the close, with a sharp move during the closing auction lifting the index further to 24,334.55, near the day’s high and over 150 points above its opening level.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 1st September:

• The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,800 & 24,500, indicating potential resistance at the 24,500- 24,600 levels.

• The maximum Put Open Interest (OI) is observed at 24,200, followed by 24,300, suggesting support at 24,200-24,100.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

TCS will acquire Porsche’s consulting and technology subsidiary MHP for $373 million, alongside a five-year strategic partnership worth $1.4 billion. The partnership will focus on AI-led transformation across Porsche’s engineering, manufacturing and operations, as well as next-generation automotive technology. Dive deeper

Federal Bank shares fell nearly 4% intraday after reports that the lender was in advanced talks to acquire a controlling stake in Jana Small Finance Bank. The reported deal would involve buying promoter Jana Holdings’ 16.9% stake followed by an open offer, although Federal Bank later clarified that there was no material event requiring disclosure. Dive deeper

The central government has proposed a complete ban on carbosulfan, a widely used insecticide, citing toxicity risks to humans, animals and the environment and the absence of a specific antidote. An expert panel recommended prohibiting its manufacture, import, transport, distribution, sale and use, which could affect pest management across crops including rice, cotton, chilli, brinjal and cumin. Dive deeper

Hyundai Motor India has partnered with Jio-bp to integrate their EV charging networks, expanding access to over 37,000 charging points across India through the myHyundai app. The partnership adds more than 7,000 Jio-bp charging points across 300+ cities, improving charging accessibility for EV users. Dive deeper

VA Tech WABAG has formally signed its mega desalination project in Kuwait, marking the company’s first project in the country. The 60 MIGD (around 272 MLD) seawater desalination plant will be executed on a design-build-operate basis and further strengthens WABAG’s presence across the GCC region. Dive deeper

Larsen & Toubro has secured a mega order worth ₹5,000–10,000 crore to develop three battery energy storage system (BESS) projects in West Asia. The order strengthens L&T’s presence in the region’s rapidly expanding renewable energy and energy-storage market. Dive deeper

Commerce & Industry Minister Piyush Goyal said India will ease BIS certification requirements for high-tech companies, including semiconductor and AI firms, to reduce regulatory hurdles and boost manufacturing investment. Dive deeper

Top Stories Globally

Brent crude fell 3% to around $89.5 per barrel, extending the previous session’s 2.4% decline, as signs of diplomatic progress between Iran and the U.S. eased supply concerns. Pakistan reported progress after its army chief visited Tehran, while the latest U.S. sanctions on Iran were less severe than markets had expected, further reducing immediate fears of oil supply disruptions. Dive deeper

Bitcoin rose above $80,000 to a three-month high, supported by a weaker U.S. dollar following the Treasury’s expanded bond buybacks and optimism over clearer U.S. crypto regulation. Bitcoin has gained 16% since Trump called for Congress to pass crypto legislation last week. Dive deeper

Japan-Korea LNG prices climbed above $23/MMBtu, their highest since January 2023, as extreme heat boosted power demand across Asia while Middle East disruptions tightened LNG supplies. Japan’s unusually hot weather is increasing demand for gas-fired electricity, adding further pressure to an already tight regional LNG market. Dive deeper

Zinc prices climbed above $3,830 per tonne, their highest since May 2022, as mine disruptions and logistical constraints tightened global supplies. Falling inventories outside China and expectations of weaker global mine output have added to concerns over limited zinc availability. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Billionaire investor Stanley Druckenmiller said the U.S. is eroding the Treasury market's credibility:

“You ​can’t ⁠buy your way out of a solvency conversation with liquidity tools,”

“What should happen instead is straightforward. Return buybacks to their stated purpose: small, scheduled...If ⁠the ​30-year must trade at 5.5% to clear, that ​isn’t a crisis. It is an invoice. Then do the only thing that durably lowers ​long-term yields: address the primary deficit.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

In our latest episode of In The Money by Zerodha, we test a popular options strategy on NIFTY: selling a straddle or strangle 45 days before expiry.

Using over seven years of data, we compare 45 DTE straddles with 30 and 16 delta strangles, and then see what happens when we add a VIX filter. The results show why collecting more premium can matter, and how higher volatility can change the performance of the strategy.

But the backtest also highlights the risks, especially gap risk, drawdowns, and the danger of using too much leverage. So, how does the 45 DTE strategy actually hold up in India? Let’s look at the data.

Check out In The Money

Markets Today

Nifty opened with a 33-point gap up at 24,285, tracking mixed global cues. The index briefly moved above 24,300 in the opening minutes, but the early gains faded quickly as Nifty slipped towards 24,275. It remained relatively stable through the first hour, largely oscillating between 24,270 and 24,285, before selling pressure intensified after 10:45 AM.

The index fell sharply below 24,250 and then 24,220, eventually reaching the 24,180 zone by around 11:30 AM. A few recovery attempts to cross 24,200 followed, but they failed to sustain, leaving Nifty near 24,180-24,190 by the end of the first half.

In the second half, weakness persisted as the index gradually drifted lower, slipping below 24,170 after 1 PM and touching an intraday low near 24,145 around 2:15 PM. Nifty attempted a modest recovery thereafter in the last hour, climbing back towards 24,175-24,180. A sharp move during the closing auction helped recover some of the losses, with Nifty eventually settling at 24,219.05, around 65 points below its opening level but nearly 75 points above the day's low.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 25th August:

• The maximum Call Open Interest (OI) is observed at 24,300, followed by 24,200 & 24,500, indicating potential resistance at the 24,300- 24,400 levels.

• The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,200, suggesting support at 24,100-24,000.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

India’s monsoon situation has improved significantly, with the cumulative rainfall deficit narrowing from 35% in mid-June to 12.6% by August 19, according to Macquarie. Kharif sowing has also recovered sharply, with total acreage just 2% below last year as of August 14, compared with a 21% shortfall in late June, easing concerns over widespread crop disruption despite rainfall distribution remaining a key risk. Dive deeper

Indian Government has lifted its years-long ban on wheat exports, allowing overseas shipments of wheat, including durum varieties, as well as flour and other wheat products. The move could help ease global supply pressures at a time when escalating Russia-Ukraine attacks are disrupting Black Sea grain shipments and have pushed global wheat prices to a two-year high. Dive deeper

Indian Hotels Company (IHCL) will merge associate company Oriental Hotels through an all-stock transaction, with shareholders receiving 25 IHCL shares for every 117 Oriental Hotels shares. The merger, targeted for completion in the second half of FY28, will bring Oriental Hotels’ portfolio of seven hotels with 825 rooms directly under IHCL. Dive deeper

India’s equity capital market is on track for its best month on record, with nearly $10 billion of deals priced in August, despite weakness in the broader stock market. Activity has been led by the government’s $3.2 billion LIC share sale and Manipal Health’s roughly $960 million IPO, alongside block deals and institutional placements. Strong domestic mutual fund and insurer liquidity, retail participation and returning foreign investors have helped the market absorb the surge in new equity supply. Dive deeper

Lalithaa Jewellery Mart made a strong stock market debut, listing at ₹265 per share on the NSE, a nearly 32% premium to its ₹201 IPO price, after the issue was subscribed 62.97 times. The stock, however, gave up some of its listing gains and ended its debut session at around ₹248, still roughly 23% above the issue price. Dive deeper

Tata Capital has signed an MoU with Japan’s Resona Bank to explore business-matching and financing opportunities in India, particularly for Japanese companies looking to enter or expand in the country. The partnership follows Resona Bank’s $20 million investment in Tata Capital Growth Fund III, further strengthening ties between the two financial institutions. Dive deeper

Top Stories Globally

Brent crude fell to around $93 per barrel as investors booked profits after last week’s sharp rally and awaited details of tougher U.S. sanctions on Iran. Treasury Secretary Scott Bessent has described the measures as the “toughest” sanctions in history, with the potential to further disrupt Iranian oil exports and Middle Eastern energy supplies, keeping geopolitical risks elevated despite the pullback in prices. Dive deeper

Gold rose nearly 1% to above $4,650 per ounce, its highest level in more than three months, supported by a weaker U.S. dollar. Bullion extended momentum after gaining over 5% last week following the U.S. Treasury’s expanded bond-buyback plan, while investors now await U.S. inflation data and Fed Chair Kevin Warsh’s comments for clues on the interest-rate outlook. Dive deeper

The U.S. dollar hovered near three-month lows near 98.8, as the Treasury’s decision to double long-dated bond buybacks to at least $4 billion per operation raised concerns over debt and policy credibility. Traders are also awaiting details of fresh U.S. sanctions on Iran and key policy speeches from the Federal Reserve and Bank of Japan later this week. Dive deeper

Alibaba shares fell as much as 10% in Hong Kong after the company completed a $10.2 billion share placement to fund its AI expansion and infrastructure investments. The shares were issued at HK$112.70 apiece, an 8.4% discount to Friday’s close, raising concerns over dilution and returns from heavy AI spending. The deal is the largest-ever primary follow-on offering by a Hong Kong-listed company. Dive deeper

Nvidia AI server prices are reportedly set to rise by more than 15% in many cases for systems shipped from early 2027, as soaring memory chip costs push up hardware expenses. The increases will affect systems using flagship Vera Rubin and Grace Blackwell chips, with major data-centre customers including Microsoft, Google and Oracle being notified by server manufacturers. Nvidia has not publicly confirmed the reported increases. Dive deeper

Canada will impose “dollar-for-dollar” retaliatory tariffs on U.S. goods from September 8, targeting sectors including steel, dairy, electronics, appliances and agricultural equipment. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Kumar Rajagopalan, ED and CEO, Retailers’ Association of India on recovery in demand momentum from retailers driven by need-based purchases:

“July gave us two confirmations at once: topline growth held up, and genuine store-level demand, which had softened through the summer, came back with it. That matters heading into the festive season, because big-ticket purchases are the ones festive buying tends to unlock. The base retailers are working from this year is stronger than it was in April or May. Retailers are entering the festive season with with optimism, anticipating stronger consumer demand” - Link

Management of Man Infra says rising construction costs are one reason it believes developers will ultimately have to pass higher costs on to customers:

Due to the war situation, marble prices have increased, tile prices have increased, and steel prices have increased. Every raw material is increasing by 18% to 15%. Where will the margins come from? The increase will be added to the price. Sooner or later, every developer will have to adopt this approach unless the developer does not wish to make good money.

Therefore, I do not see prices reversing from here. I see prices either moving upward or stabilizing at their current levels.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

In our latest episode of In The Money by Zerodha, we test a popular options strategy on NIFTY: selling a straddle or strangle 45 days before expiry.

Using over seven years of data, we compare 45 DTE straddles with 30 and 16 delta strangles, and then see what happens when we add a VIX filter. The results show why collecting more premium can matter, and how higher volatility can change the performance of the strategy.

But the backtest also highlights the risks, especially gap risk, drawdowns, and the danger of using too much leverage. So, how does the 45 DTE strategy actually hold up in India? Let's look at the data.

Check out In The Money

Markets Today

Nifty opened with a 52-point gap up at 24,284, extending the recovery from the previous session despite weaker global cues, while a softer Dollar Index provided some relief. The index, however, turned volatile immediately after the open, briefly falling towards 24,210 within the first 20 minutes.

Buying picked up thereafter, taking Nifty back above 24,250 by around 10:30 AM and eventually to an intraday high near 24,265-24,270 around 11 AM. The recovery began losing momentum towards the end of the first half, with the index gradually slipping back towards the 24,230-24,240 zone by noon.

In the second half, Nifty remained choppy and largely directionless, with repeated swings between 24,225 and 24,250, and spent most of the final hour consolidating around 24,230-24,240, before the closing move lifted it to 24,252, helping the index finish higher for a second consecutive session, despite a flat close.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 25th August:

• The maximum Call Open Interest (OI) is observed at 24,300, followed by 24,500, indicating potential resistance at the 24,300- 24,400 levels.

• The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,200, suggesting support at 24,100-24,000.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

India’s private sector activity improved marginally in August, with the HSBC Flash Composite PMI rising to 54.6 from 54.3 in July, as stronger services activity offset slower manufacturing growth. While activity remained in expansion for the 61st consecutive month, the reading was still the second weakest since March 2022, with new order growth remaining subdued compared with recent years. Dive deeper

Welspun Corp secured its largest-ever single order worth $1.8 billion (around ₹17,200 crore) to supply pipes from its U.S. manufacturing facility. The order, to be executed across FY28 and FY29, takes the company’s global order book to a record $4.4 billion (around ₹42,100 crore). Dive deeper

India’s foreign exchange reserves jumped $9.9 billion to $716.9 billion in the week ended August 14, extending the strong build-up from $707 billion a week earlier. The increase was led by a $7.2 billion rise in foreign currency assets and a $2.7 billion increase in gold holdings, taking reserves close to the record high of $728.5 billion reached in February. Dive deeper

Tata Motors Passenger Vehicles will raise prices of its cars and SUVs by up to ₹25,000 from September 1, with the increase varying across models and variants. The automaker said the hike is aimed at partially offsetting rising input costs and persistent commodity inflation amid continued geopolitical uncertainty. Dive deeper

India’s Portfolio Management Services (PMS) industry AUM rose 2% MoM to ₹44.11 lakh crore in July, while the client base expanded 1.3% to around 2.23 lakh accounts, according to APMI. On a year-on-year basis, both AUM and client accounts grew around 11%, reflecting continued expansion of the PMS industry and investor participation. Dive deeper

ICICI Bank approved plans to raise up to $5 billion through overseas debt markets, revising its borrowing limit for international fundraising. The bank plans to raise the funds through bonds, notes and offshore certificates of deposit, according to an exchange filing. Dive deeper

Colgate-Palmolive India announced a leadership transition, with MD & CEO Prabha Narasimhan resigning from her role a year before her tenure ends. Manish Anandani has been appointed MD & CEO for a five-year term and will take charge from September 28, while Narasimhan will move to a new role as Executive Vice President – Marketing, Asia Pacific. Dive deeper

Top Stories Globally

Gold surged 1.5% to around $4,587 per ounce, hitting an over three-month high, and was on track for a third consecutive weekly gain. The rally was driven by a weaker U.S. dollar and the Treasury’s surprise expansion of long-duration bond buybacks, while gold’s move above its 200-day moving average triggered further technical buying. Dive deeper

The U.S. 10-year Treasury yield traded around 4.7%, while the 30-year yield rebounded to around 5.25%, nearly reversing the relief seen after the Treasury expanded its long-duration bond buybacks. Investors remain sceptical that the intervention can sustainably lower borrowing costs, despite Treasury Secretary Scott Bessent signalling that buybacks could exceed $4 billion per operation and pointing to an upcoming fiscal consolidation plan. Dive deeper

Brent crude traded near $94 per barrel, heading for a second consecutive weekly gain of around 6%, as the unresolved U.S.-Iran conflict continued to disrupt Middle Eastern energy supplies. Expectations of further U.S. economic pressure on Iran and continued disruption around the Strait of Hormuz kept supply concerns elevated. Dive deeper

Samsung Electronics expects shareholder returns to reach as much as 110 trillion won ($79.5 billion) in 2026, more than five times its previous record, including 30 trillion won in Q3 cash dividends. The move comes as Samsung faces pressure to share more of its record AI-driven chip profits with investors, following rival SK Hynix’s massive buyback announcement. Dive deeper

Japan’s core consumer inflation accelerated to 1.8% YoY in July from 1.6% in June, as a weaker yen and higher import and energy costs pushed up prices. Although inflation remained below the BOJ’s 2% target for a seventh straight month, underlying inflation also strengthened, bolstering expectations that the Bank of Japan could raise its policy rate from 1% to 1.25% in September. Dive deeper

Germany’s manufacturing activity strengthened sharply in August, with the S&P Global Manufacturing PMI jumping to 54.1 from 52.2 in July, beating market expectations and marking its strongest reading since May 2022. The sector expanded for a seventh consecutive month, driven by faster growth in output, new orders and exports, signalling a strengthening recovery in Europe’s largest economy. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Shirish Chandra Murmu, Deputy Governor, RBI, on the concerning trend where a smaller percentage of new businesses are entering the formal credit system despite overall credit growth:

“In 2022-23, 52 per cent of fresh businesses entered the formal credit system. By 2025-26, that figure had fallen to 42 per cent — even as outstanding commercial credit grew by fourteen per cent over the year. This did not happen for want of information: lenders today have access to richer data, and to materially stronger analytical capability, than at any point before. It points to something more structural — that our data and our technology may be getting better at serving those the system already understands, faster than they are developing the capacity to understand those it has never served.” - Link

B Thiagarajan, MD of Blue Star, dismisses the idea that high heat alone can drive air conditioner sales if rural income is hit by a bad monsoon:

“I have stated this earlier: going by history, India is an agricultural and rural economy. A poor monsoon will result in weak demand across Tier 3, Tier 4, and Tier 5 towns. While temperatures shooting up may create some demand, that will not compensate for the overall slowdown in the economy if the monsoon forecast shortfall of 15% holds true. So, I am not a believer that a delayed monsoon is going to help the cooling industry at all.” - Link

Parthanil Ghosh, MD & CEO of HDFC ERGO General Insurance on latest trends in Health insurance space:

Consumers are increasingly looking for comprehensive health covers without having to worry about what is payable or not payable at hospitals. They are also concerned about medical inflation and whether their sum insured will be adequate. - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

In our latest episode of In The Money by Zerodha, we explore a question every systematic trader eventually faces: your backtest gave you a beautiful equity curve — but was that curve luck, or edge?

Using Monte Carlo simulations and a real two-year backtest of a 0DTE 920 straddle strategy on Nifty, we show how the same trades can produce very different drawdowns and outcomes simply by changing their order.

The takeaway: your backtest is only one possible path. The real question is whether your strategy can survive the paths you didn’t see.

Check out In The Money

Markets Today

Nifty opened with a strong 147-point gap up at 24,225, tracking positive global cues after the U.S. Treasury doubled the size of buybacks for long-duration government debt in an effort to support the bond market, helping cool Treasury yields and the Dollar Index. After the gap-up, the index initially slipped towards 24,185–24,190, but quickly recovered and moved back above 24,200. Through the rest of the first hour, Nifty remained choppy but firm, largely oscillating between 24,200 and 24,220.

The index briefly slipped below 24,200 around 11:15 AM before recovering again, and spent the remainder of the first half consolidating around the 24,200–24,220 zone. Momentum picked up sharply after 12:30 PM, with Nifty jumping above 24,240 and eventually testing an intraday high near 24,260 around 1 PM.

In the second half, the index largely held on to these gains, trading in a narrow 24,230-24,250 range for most of the afternoon. Some profit booking emerged after 3 PM, pulling Nifty towards 24,210, but the closing move helped it recover, with the index eventually settling at 24,231.85, marginally above its opening level and over 150 points higher for the day, snapping the recent streak of consecutive declines.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 25th August:

• The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,300, indicating potential resistance at the 24,300- 24,400 levels.

• The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,200, suggesting support at 24,100-24,000.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

India’s infrastructure output grew 5.4% YoY in July, moderating from a revised 6% growth in June. Growth was led by iron ore (+29.5%), cement (+13.1%), electricity (+9%) and coal (+7.6%), while natural gas, crude oil and fertiliser production declined during the month. Dive deeper

Larsen & Toubro secured its third consecutive major order, valued at up to ₹5,000 crore, to design and build an Automated People Mover system for Phase 1 of Dubai’s Al Maktoum International Airport. The project will be executed in collaboration with Japan’s Mitsubishi Heavy Industries. Dive deeper

TPG sold a 6.66% stake in Aster DM Quality Care through an open-market transaction. The investment firm sold the shares at an average price of ₹766.17 per share, bringing the total transaction value to ₹4,451.45 crore. Dive deeper

Glenmark Pharmaceuticals received US FDA approval for its generic version of fluticasone propionate nasal spray, used to treat rhinitis. The product targets the Flonase nasal spray market, which recorded approximately $295 million in annual U.S. sales for the 12 months ended June 2026. Dive deeper

Aditya Birla Capital has entered the gold loan business, with plans to open 200–300 dedicated branches by March 2027. The NBFC aims to scale the network to around 1,000 gold loan branches over the next three years, building a pan-India franchise across high-potential markets. Dive deeper

Top Stories Globally

Total U.S. public debt crossed $40 trillion for the first time, reaching $40.05 trillion, according to the U.S. Treasury. This includes $32.27 trillion in Treasury securities held by the public and $7.78 trillion in intragovernmental debt, intensifying concerns over rising interest costs, social-program spending and persistent fiscal deficits. Dive deeper

The U.S. Treasury doubled the size of buybacks for long-duration government debt in an effort to support the bond market and ease the recent surge in yields. The move followed a sharp selloff that pushed the 30-year Treasury yield to its highest level since 2007, amid concerns over Middle East tensions, inflation and the deteriorating U.S. fiscal outlook. Dive deeper

Brent crude surged more than 2% to around $93.80 per barrel, its highest level since July 24, after President Donald Trump announced sweeping new economic measures targeting Iran. Dive deeper

Bitcoin surged nearly 11% over 24 hours to around $71,730, its highest level in two months, helping add nearly $190 billion to the overall crypto market capitalisation. Sentiment improved after President Donald Trump called on Congress to pass the Crypto CLARITY Act while addressing technology and crypto industry executives, boosting optimism around a clearer U.S. regulatory framework for digital assets. Dive deeper

Walmart shares fell 6% in premarket trading after quarterly U.S. comparable sales grew 2.6%, missing expectations of 3.8%, as higher gasoline prices weighed on consumer spending. Despite the miss, U.S. e-commerce sales jumped 24%, and Walmart Connect advertising revenue rose 43%, while the company raised its FY27 net sales growth forecast to 4-5%. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Sunil D'Souza, MD & CEO of Tata Consumer Products on FMCG Industry & consumption trends:

"The whole trend for the FMCG space is very heartening because almost all FMCG majors are showing good topline growth, and it is volume-driven topline growth, which means base consumption increase."

"We expect consumption demand to remain healthy. The better part of the growth is that it is volume-led across categories, which indicates underlying consumer demand."

"Price-driven growth is temporary; volume-driven growth is fundamental growth." - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

In our latest episode of In The Money by Zerodha, we celebrate one year of In The Money with Sandeep Rao, the host behind the channel.

Sandeep looks back at his journey in the markets, from his early days of investing and discovering derivatives to developing his systematic approach to trading.

He also shares how his thinking has evolved over the years, what he has learned from the traders and investors he once looked up to, how AI has changed the way he learns, and why trading is about much more than simply having a set of rules.

Check out In The Money

Markets Today

Nifty opened flat at 24,152, as elevated oil prices, rising bond yields, fresh El Niño concerns pointing to weaker rainfall, and continued weakness in domestic sentiment weighed on the market. The index came under pressure almost immediately, falling to 24,070 within the first 20 minutes before briefly recovering towards 24,100.

The recovery failed to sustain, and selling resumed after 10 AM, dragging Nifty steadily lower towards 24,050 by around 10:45 AM. The index touched a first-half low near 24,030 at around 11 AM, before attempting a recovery towards 24,080 by close to noon. However, the rebound once again faded, and Nifty ended the first half hovering around the 24,050–24,060 zone.

In the second half, the index remained largely directionless and choppy, oscillating mostly between 24,040 and 24,065, with multiple recovery attempts failing to gather momentum. Nifty briefly slipped to an intraday low near 24,025 around 2:20 PM, before recovering modestly.

A sharp move during the closing auction helped the index recover a large part of its intraday losses, with Nifty eventually settling at 24,078.30, around 75 points below its opening level but nearly 50 points above the day's low.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 25th August:

• The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,300, indicating potential resistance at the 24,300- 24,400 levels.

• The maximum Put Open Interest (OI) is observed at 24,000, followed by 23,700, suggesting support at 24,000-23,900.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

India has replaced Indonesia as Asia’s least-preferred equity market among fund managers surveyed by Bank of America, with 32% of respondents net underweight on Indian equities. The biggest concerns were India’s lack of clear AI exposure and weak growth prospects, while high valuations and insufficient reforms also contributed to the bearish outlook. Dive deeper

The rupee weakened to its lowest level since late July, closing at ₹95.75 per dollar compared with ₹95.68 in the previous session. Elevated crude oil prices and sustained corporate dollar demand weighed on the currency, although likely RBI intervention helped limit further losses. Dive deeper

L&T Technology Services secured a five-year engagement worth over $75 million from a leading global technology company. The deal will deploy LTTS’ Engineering Intelligence capabilities across the client’s end-to-end product development and engineering lifecycle, aimed at accelerating the development of next-generation products and solutions. Dive deeper

Escorts Kubota announced a ₹2,000 crore investment to set up a new manufacturing plant in Uttar Pradesh’s YEIDA industrial area. The facility will be one of Kubota Group’s largest manufacturing plants globally, significantly expanding the company’s farm and construction equipment manufacturing capacity in India. Dive deeper

The Union Cabinet approved railway and highway projects worth over ₹13,000 crore across five states to expand rail capacity and improve road connectivity. The approvals include four railway multitracking projects on the Chennai-Howrah corridor worth ₹9,450 crore and the ₹3,591 crore four-laning of the Muzaffarpur-Sitamarhi-Sonbarsa section of NH-22 in Bihar. Dive deeper

Top Stories Globally

WTI crude oil rose towards $86 per barrel, extending gains for a fourth consecutive session, as the U.S. and Iran showed little progress towards reaching an agreement to end the conflict and reopen the Strait of Hormuz. The prolonged deadlock kept concerns over Middle East oil supply disruptions elevated, supporting crude prices. Dive deeper

China’s LandSpace successfully recovered the first-stage booster of its Zhuque-3 rocket after an orbital launch, becoming the country’s first commercial rocket company to both reach orbit and recover its first stage. The milestone advances China’s push towards lower-cost reusable rockets, with LandSpace becoming only the fourth entity globally to recover a launch vehicle, after SpaceX, Blue Origin and China’s state-owned aerospace corporation. Dive deeper

Moderna shares surged 60% in pre-market trading after its mRNA cancer vaccine, Intismeran, combined with Merck’s Keytruda, succeeded in a late-stage skin cancer trial. Interim results showed the combination met its primary goal of reducing cancer recurrence as well as its secondary target of preventing the cancer from spreading to other parts of the body. Dive deeper

Unitree Robotics shares surged more than five-fold on their Shanghai trading debut, marking a major milestone for China’s rapidly growing humanoid robotics industry. Dive deeper

SK Hynix announced plans to buy back and cancel treasury shares worth 40 trillion won (around ₹2.75 lakh crore) after its stock plunged roughly 50% in less than two months. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Nirmal Kumar Minda, Executive Chairman, Uno Minda Group on import dependence & manufacturing:

“We are looking at import dependence sector by sector. First, we need to understand why we are importing — what are the top five reasons for imports in a particular sector and what can we do about them.”

“Industry should be able to focus its capital on manufacturing rather than putting it into land and buildings. If plug-and-play industrial infrastructure is available on a rental basis, the industry can simply bring in the machinery and deploy 100 percent of its capital towards the product and equipment.” - Link

Prabha Narasimhan, MD & CEO of Colgate-Palmolive (India) says that only 19% of India’s toothpaste category is currently premium, substantially below categories such as soaps and shampoos:

“Our premiumization percentage as a category, in the toothpaste category, is about 19%, or about a fifth of the category, above the 140 index. If you look at toilet soap and shampoo, those numbers are in the order of magnitude of 2x and 3x. As a community of toothpaste brands, we certainly have an opportunity to do more, and Colgate can be at the forefront of this. Being at the forefront is an exceptionally important pillar for us.” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

In our latest episode of In The Money by Zerodha, we celebrate one year of In The Money with Sandeep Rao, the host behind the channel.

Sandeep looks back at his journey in the markets, from his early days of investing and discovering derivatives to developing his systematic approach to trading.

He also shares how his thinking has evolved over the years, what he has learned from the traders and investors he once looked up to, how AI has changed the way he learns, and why trading is about much more than simply having a set of rules.

Check out In The Money

Markets Today

Nifty opened with a 64-point gap down at 24,224, tracking shaky global cues as elevated oil prices and renewed inflation concerns pushed bond yields higher across markets, while weak domestic sentiment continued to weigh. The index remained under pressure from the opening bell, slipping towards 24,220 in the first hour despite a few brief recovery attempts towards 24,240–24,250.

Selling intensified after 10:30 AM, dragging Nifty below 24,200 and towards an intraday low near 24,175 around 11:30 AM. The index recovered modestly thereafter, climbing back towards 24,220 around noon, but the rebound lacked momentum.

Through much of the second half, Nifty remained choppy and range-bound largely between 24,185 and 24,215, with repeated recovery attempts failing to sustain. Another brief push towards 24,220 around 3 PM was followed by a sharp sell-off in the final part of the session, pulling the index below 24,170. Nifty eventually closed at the day's low at 24,154.90, around 70 points below its opening level, extending the weakness seen over the past several sessions.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 25th August:

• The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,300, indicating potential resistance at the 24,300- 24,400 levels.

• The maximum Put Open Interest (OI) is observed at 24,000, followed by 23,700, suggesting support at 24,000-23,900.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

Private forecaster Skymet has sharply downgraded India’s 2026 southwest monsoon forecast to 85% of the Long Period Average (LPA) and now sees a 70% probability of drought, citing a strengthening El Niño and uncertainty around the Indian Ocean Dipole. Dive deeper

Paytm parent One97 Communications said Resilient Asset Management, wholly owned by founder and CEO Vijay Shekhar Sharma, plans to sell up to a 4.98% stake in the company. The proposed stake sale comes after Paytm shares touched a 54-month high last week, following a strong rebound since March. Dive deeper

The Ministry of Road Transport and Highways (MoRTH) has proposed allowing battery, hydrogen and natural gas vehicles five additional years under the age limits for national permits. The draft amendment to the Central Motor Vehicle Rules, 1989 also seeks to simplify national permit procedures and shift more of the process online, potentially supporting the adoption of cleaner commercial vehicles. Dive deeper

Inox Clean Energy has completed the acquisition of BlackRock-owned GIP’s Vena Energy India renewable energy platform for around ₹6,000 crore. The deal significantly expands Inox Clean Energy’s presence in India’s renewable energy market and is described as one of the sector’s fastest transactions from signing to execution. Dive deeper

German chemical industry major HELM AG and Parijat Industries announced a strategic collaboration across digital commerce, branded crop-protection products, technical manufacturing and international distribution. Dive deeper

State-owned IREL (India) has, for the first time, invited entrepreneurs, startups and industries to commercialise seven indigenous technologies for the rare-earth and titanium sectors. Dive deeper

The Government is considering measures to boost domestic sugar supplies and curb record-high prices, including limited duty-free imports and stockholding limits for bulk traders. The move could help contain prices ahead of the August-November festival season, while potentially supporting global sugar prices. Dive deeper

Top Stories Globally

WTI crude oil climbed above $85 per barrel, rising for a third consecutive session, as prospects for a longer-term U.S.-Iran agreement weakened. President Donald Trump said he was not interested in extending the interim peace deal, after the 60-day memorandum of understanding signed in June expired on Monday, renewing concerns over geopolitical tensions and potential oil supply disruptions. Dive deeper

U.S. 30-year Treasury yields surged to 5.33%, their highest level since 2007, as oil prices above $90 per barrel amid the U.S.-Iran conflict fuelled inflation concerns. Rising fiscal spending and debt issuance added pressure despite softer U.S. economic data, while the bond selloff spread globally, with Japan’s 10-year government bond yield hitting a 30-year high. Dive deeper

Google is acquiring internal business data from bankrupt Spirit Airlines for $10 million, with plans to use the information for product development and AI model training. The dataset includes employee emails, Microsoft Teams messages, spreadsheets, calendars and marketing, productivity and operational data, highlighting the growing value of proprietary corporate data for AI development. Dive deeper

Nvidia has agreed to provide a guarantee of up to $105 billion to help OpenAI lease a large Ohio data centre being developed by SoftBank-owned SB Energy, marking one of Nvidia’s biggest infrastructure financing commitments. Nvidia will also invest $1.5 billion in SB Energy, underscoring the massive capital being deployed to expand AI computing and data centre capacity. Dive deeper

Chinese equities ended mixed, with the Shanghai Composite rising 0.19% to 3,990.3, its highest level in over a month, while the Shenzhen Component fell 0.56% to 14,622.5. Markets remained volatile despite renewed stimulus expectations, after Premier Li Qiang called for stronger measures to meet China’s economic targets and accelerate investment in new growth drivers, including the “Six Networks” initiative. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

R Srikrishna, CEO of Hexaware on AI & Younger talent and dealing with tech debt:

Much of it comes from clients. It has always been the case that they want more senior talent. In AI, that is even more true. But truer still is that younger talent is better at AI. In our own AI labs and in pure R&D, the average age is around 26 years. Our platform building and engineering teams are also full of very young people.

Historically, despite huge opportunity, customers don’t spend money on tech because it is too time-consuming, risky, and expensive. AI has changed that, and has made it more deterministic. So, customers are using AI for tech debt. We are now seeing deals that are above $10 billion in tech debt remediation and in modernisation. - Link

Dr Samiran Chakraborty, MD and Chief Economist, Citibank on Capex revival:

So I think this is a slightly underappreciated point that there is a possibility that we are now moving into the next leg of our CAPEX cycle. If you look at the most trivial or the simplest indicator, which is credit growth, the credit growth has now moved quite sharply higher.

Even the credit to GDP ratio, which was in the 50 to 55 percent range for more than 15 years, has now moved to 67 percent. This is kind of the second leg of the increase in credit to GDP ratio after that 2004 to 2010 type of period when we saw credit to GDP doubling from 25 to 50 percent. So this could be early signs of a CAPEX cycle picking up.

It might not be the traditional CAPEX cycle that we have seen in the past. It could be in new age sectors, places like defense, data center, renewable power, and many such semiconductors, many such new sectors which are coming up. And all put together could create that buzz around CAPEX in India. - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!

Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.

In our latest episode of In The Money by Zerodha, we celebrate one year of In The Money with Sandeep Rao, the host behind the channel.

Sandeep looks back at his journey in the markets, from his early days of investing and discovering derivatives to developing his systematic approach to trading.

He also shares how his thinking has evolved over the years, what he has learned from the traders and investors he once looked up to, how AI has changed the way he learns, and why trading is about much more than simply having a set of rules.

Check out In The Money

Markets Today

Nifty opened with a small 23-point gap down at 24,343, tracking shaky global cues as range-bound global equities, rising oil prices and weakness carried over from domestic markets last week weighed on sentiment. The index came under pressure immediately after the open, slipping below 24,300 within the first half hour.

A couple of early recovery attempts failed to sustain, and selling intensified after 10 AM, dragging Nifty towards the 24,240–24,250 zone. The weakness continued through the rest of the first half, with the index touching an intraday low near 24,230 around 11:20 AM.

From there, Nifty staged a steady recovery, reclaiming 24,300 around 12:30 PM before the rebound gathered pace. In the second half, buying strengthened sharply, pushing the index above 24,340 and towards an intraday high near 24,360 after 1:30 PM. Nifty then consolidated largely between 24,325 and 24,350 for most of the remaining session, with another attempt towards the day’s highs around 3 PM.

However, a sharp closing move erased much of the recovery, with Nifty eventually settling at 24,287.65, around midpoint from its day’s low & opening level.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 18th August:

• The maximum Call Open Interest (OI) is observed at 24,400, followed by 24,500, indicating potential resistance at the 24,400 -24,500 levels.

• The maximum Put Open Interest (OI) is observed at 24,300, followed by 24,000, suggesting support at 24,200-24,100.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Top Stories in India

India’s e-commerce order volumes jumped 31% YoY during the 2026 Independence Day sale period, according to Unicommerce data covering August 6–14. Gross merchandise value (GMV) rose 30% YoY, pointing to strong online consumer spending during the festive sale period. Dive deeper

The Ministry of Electronics and Information Technology (MeitY) has approved nearly 31 applications involving investments of ₹7,877 crore under the Electronics Components Manufacturing Scheme (ECMS). Dive deeper

The RBI will close its special USD-INR forex swap facility for mobilising FCNR(B) deposits on August 31, 2026, following strong foreign currency inflows. The scheme has attracted $56.85 billion so far, led overwhelmingly by $52.30 billion through FCNR(B) deposits, while overseas foreign currency borrowings contributed $2.81 billion and ECBs another $1.74 billion. Dive deeper

India’s electric car exports surged more than 16-fold YoY to $369 million in Q1FY27, from just $22.2 million a year ago, driven by strong demand from European markets, particularly Spain and the UK. Export volumes jumped to 10,802 vehicles from 1,309 units, highlighting rapidly growing overseas demand for India-made EVs. Dive deeper

ONGC can resume full operations in Venezuela after its overseas arm, ONGC Videsh, received a licence from the U.S. Treasury’s OFAC, easing restrictions imposed by U.S. sanctions. The approval gives ONGC greater flexibility to expand production, enter into new agreements, and potentially take direct operator control of key projects from Venezuela’s state-owned PDVSA as per ET reports. Dive deeper

Top Stories Globally

Brent crude oil rose above $89 per barrel as renewed tensions in the Middle East raised concerns over potential supply disruptions. Fighting in Lebanon, attacks on vessels in the Strait of Hormuz and stalled U.S.-Iran negotiations weighed on hopes for a swift resolution, keeping geopolitical risk elevated and supporting oil prices. Dive deeper

German companies cut direct investment in the U.S. by nearly two-thirds YoY to €4.3 billion ($5 billion) in the first half of 2026, the lowest level in three years, according to the German Economic Institute. The sharp decline came amid heightened policy and trade uncertainty under the Trump administration. Dive deeper

The euro strengthened to around $1.160, its highest level in two months, as diverging interest-rate expectations supported the currency. Markets have scaled back expectations for a Federal Reserve rate hike, while investors are pricing in around an 84% probability of a 25-bps ECB rate hike in September, highlighting widening monetary policy divergence between the U.S. and Euro Area. Dive deeper

China’s economy lost momentum in July, as weak domestic demand and extreme weather disruptions weighed on activity. Industrial output growth slowed to 4.5% YoY from 5.3% in June, missing expectations of 4.8%, adding to concerns after Q2 economic growth fell to a three-and-a-half-year low and increasing pressure on policymakers for further stimulus. Dive deeper

Japan’s economy slowed sharply in Q2, with annualised GDP growth easing to 1.1% from a revised 1.9%, missing expectations of 2%, as household and business spending weakened. Despite softer growth, long-term bond yields climbed to a three-decade high as investors focused on rising inflation risks and the possibility of a Bank of Japan rate hike next month. Dive deeper

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

SEBI chairman Tuhin Kanta Pandey on the newly implemented closing auction session (CAS):

“CAS is here to stay for sure; only we will see if there are certain constraints or certain issues that we can improve. Certainly, we will improve.”

“It is a major microstructure. When there is something going on for years, people think that it will never come—the change will never come. And then therefore they do not give total energy into learning a new system. There are some initial teething problems whenever you come up with something major—because people tend to believe that it will be postponed.”

“It really depends on our success in terms of attracting FPIs, allowing the passive investing, which is already 30 per cent of the market, and we cannot just put out this thing on this issue just because some people want to do options trading in the way they want to do options trading,” - Link

Corporate Actions & Events

Corporate Actions

Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.

That’s it from us for today. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!