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 go through 12 documentaries on financial markets, grouped into 6 categories, and tell you why each one is worth your time and what we personally took away from them.

Movies entertain first and educate along the way. Documentaries do the opposite. And financial markets have produced enough unbelievable stories that they don’t need any Hollywood exaggeration.

Check out In The Money

Markets Today

Nifty opened with a small 25-point gap down at 23,971, brushing aside weak global cues led by a sell-off in chip stocks as cooling crude oil prices offered some support to sentiment. The index witnessed a volatile start, briefly slipping towards 23,970 before recovering to cross 24,030 and going back and forth within the first hour.

However, the early strength couldn’t be sustained, and Nifty oscillated in a broad range through the morning, with buyers and sellers trading control. By the end of the first half, the index had drifted back towards the 24,000–24,020 zone after failing to hold onto its intraday highs.

The second half was marked by heightened volatility and a clear loss of momentum. Selling pressure intensified after 1 PM, pulling Nifty below 23,980, although a couple of intraday rebounds prevented a deeper slide. The index briefly attempted to reclaim 24,000 around 2 PM, but fresh selling emerged once again. In the final hour, Nifty fell to an intraday low near 23,955 before staging recovery in the closing minutes with the index eventually settling at 23,985.35, ending marginally below the 24,000 mark as investors remained cautious despite easing oil prices.

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 4th August:

• The maximum Call Open Interest (OI) is observed at 24,000, 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 23,500, 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

India’s industrial production grew 7.3% YoY in June, beating market expectations of 6% and marking its fastest growth in 23 months, led by strong performance in manufacturing, capital goods, and infrastructure. Manufacturing output rose 7.8%, while electricity and gas production increased 10.6%, reflecting resilient domestic demand and higher industrial activity. Dive deeper

Hindustan Unilever reported a 3% YoY decline in Q1FY27 consolidated net profit to ₹2,673 crore, while revenue from operations rose 10.1% to ₹17,341 crore. The company said the decline in profit was primarily due to a one-off tax credit recorded in the corresponding quarter last year. Dive deeper

Larsen & Toubro reported a 14% YoY increase in Q1FY27 net profit to ₹4,123 crore, while revenue from operations rose 7% to ₹67,942 crore, supported by strong domestic execution despite the impact of the Middle East conflict. The company also secured orders worth ₹1.08 lakh crore during the quarter, up 14% YoY. Dive deeper

India’s telecom subscriber base rose marginally to 134.8 crore in June, led by strong subscriber additions of from Bharti Airtel and Reliance Jio, according to TRAI. Bharti Airtel topped the charts with a net addition of 31.63 lakh subscribers, followed by Reliance Jio with 22.91 lakh new users, driven by growth in both mobile and fixed-line connections. Dive deeper

Suzlon Energy shares fell nearly 10% after the company reported a mixed Q1FY27 performance, with revenue rising 22.3% YoY to ₹3,830 crore on strong execution and record deliveries, while net profit declined 5.9% to ₹305 crore. EBITDA remained largely flat at ₹596 crore, leading to a sharp contraction in EBITDA margin to 15.6% from 19.1% a year ago. Dive deeper

TTK Prestige shares rose over 7% after the company reported a strong Q1FY27 performance, with consolidated net profit more than doubling to ₹60 crore from ₹27 crore a year ago, driven by robust demand for induction cooktops and premium cookware. Revenue from operations increased nearly 34% YoY to ₹814 crore. Dive deeper

Swiggy has appointed Nandita Sinha, former Myntra CEO as the CEO of Instamart, effective August 3, as the company strengthens its leadership team amid intensifying competition in the fast-growing quick commerce market. Dive deeper

Top Stories Globally

Brent crude fell for a third straight session to around $81 per barrel, its lowest level in more than a week, as optimism over potential U.S.-Iran diplomatic progress eased concerns about supply disruptions. Sentiment improved after Donald Trump said the U.S. was holding “good talks” with Iran and there was a “good chance” of reaching a resolution after pausing military strikes to allow negotiations to continue. Dive deeper

Global chip stocks came under pressure after China announced it had developed its own immersion deep ultraviolet (DUV) lithography machines, challenging the near-monopoly of ASML in advanced chipmaking equipment. The news triggered a broad selloff across semiconductor stocks, with ASML plunging over 7%, while weighing on major chipmakers such as Advanced Micro Devices and Nvidia. Dive deeper

South Korean shares suffered their worst session in about five months, with the KOSPI plunging 10.84% to 6,023.66 as a global semiconductor selloff hammered SK Hynix and Samsung Electronics. Investor sentiment was hit by concerns over intensifying competition from China. Dive deeper

The Dubai International Financial Centre (DIFC) reported a 30% increase in new company registrations in the 12 months ended June, underscoring Dubai's growing position as a global financial hub despite geopolitical tensions in the Gulf. Dive deeper

Johnson & Johnson has agreed to pay an estimated $5.5 billion to settle around 76,000 U.S. lawsuits alleging that its talc-based baby powder and other products caused ovarian cancer. The proposed settlement, which requires acceptance by 95% of eligible claimants, would resolve nearly all pending ovarian cancer claims and could bring one of the largest product liability disputes in U.S. corporate history to a close. Dive deeper

BYD has launched the Racco, an electric mini-car, in Japan as it looks to revive sales in the country’s passenger vehicle market. The entry-level model is priced at under 2 million yen (about $12,213) after taxes and government subsidies, a price point seen as crucial for attracting Japanese buyers. 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.

Priya Nair, CEO of HUL on mass v/s premium segments & Rural v/s urban demand:

Our mass segments are not lagging. At a total organization level, while you may find some differences at a segment or category level, we continue to see competitive growth in mass just as we see in premium. Of course, in India, you see higher growth rates in some premium sub-segments; that indeed is the shape of the market.

But I want to correct the notion that we are pushing only towards premium growth. We continue to be competitive, which is very important given our scale. We must be competitive at the mass end of the portfolio to maintain a large volumetric base while driving premiumization in line with the market trend.

In terms of rural versus urban growth, both have been robust and continue to be strong. In the last few quarters, we have seen a step-up in our rural growth, which has been a big driver for us. Overall demand continues to be stable both in rural and urban areas. - Link

Manoj Jain, Chairman & MD of BEL on International buyers showing strong interest in the company’s communication and radar systems:

“Almost all products we deliver to Indian customers have demand internationally. The main interest is in radios, software-defined radios, and D4 solutions. We are seeing leads for communication and weapon-locating radar (WLR) systems.” - 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 go through 12 documentaries on financial markets, grouped into 6 categories, and tell you why each one is worth your time and what we personally took away from them.

Movies entertain first and educate along the way. Documentaries do the opposite. And financial markets have produced enough unbelievable stories that they don't need any Hollywood exaggeration.

Check out In The Money

Markets Today

Nifty opened with a 161-point gap up at 23,928, following a cool-down in Iran–US tensions, which triggered a sharp decline in crude oil prices and improved global risk sentiment. After the strong start, the index extended its gains in the opening hour, briefly approaching the 23,950 mark before witnessing some profit booking. Through the remainder of the first half, Nifty traded in a relatively narrow range between 23,910 and 23,960, with buyers comfortably absorbing every minor dip.

The second half remained firmly in the bulls’ control. After a brief dip around 1:30 PM, Nifty quickly recovered and resumed its upward march, crossing the 24,000 mark around 2:30 PM. The index continued to grind higher through the final hour, touching an intraday high near 24,011 before settling at 23,995.95. Nifty thus ended the day near the psychologically important 24,000 level after several sessions, supported by easing geopolitical concerns, softer crude oil prices, and sustained buying across heavyweight stocks.

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 28th July:

• 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 24,000, followed by 23,900, suggesting support at 23,900-23,800.

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 posted its best single-day gain in more than six weeks, strengthening 0.7% against the U.S. dollar to close at 95.87, supported by likely RBI intervention, a sharp decline in crude oil prices, and the unwinding of stop-loss orders on long dollar positions. Dive deeper

Bharat Electronics Limited (BEL) reported an 8.2% YoY rise in Q1FY27 net profit to ₹1,048 crore, while revenue increased 25.3% to ₹5,533 crore. EBITDA rose 12% to ₹1,389 crore, although the EBITDA margin contracted to 25.1% from 28.1% a year earlier. Dive deeper

Coal India reported a 0.6% YoY rise in Q1FY27 net profit to ₹8,852 crore, while revenue increased 7.8% to ₹46,255 crore. EBITDA declined 4.1% to ₹12,069 crore, with the EBITDA margin contracting to 26.1% from 29.3% a year earlier. Dive deeper

HDFC Bank said its Board has completed an internal review into its deposit arrangement with the MSRDC, concluding that the employees involved were guilty of “business overreach” rather than any mala fide conduct. The bank issued warning letters and imposed a ₹1 lakh monetary penalty on three senior executives. Dive deeper

Tata Power reported an 11% YoY rise in Q1FY27 consolidated net profit to ₹1,176 crore, while revenue from operations increased 6% to ₹19,051 crore during the April–June quarter. Dive deeper

AU Small Finance Bank reported a 37% YoY rise in Q1FY27 net profit to ₹796 crore, driven by lower provisions and an expansion in its net interest margin (NIM). Net interest income (NII) grew 32% to ₹2,695 crore, supported by 23% loan growth and a 47-basis-point expansion in NIM to 5.9%, with the stock rising 5% following the results. Dive deeper

Top Stories Globally

Brent crude fell toward $89 per barrel, giving up part of last week’s gains after the U.S. and Iran paused military strikes over the weekend, raising hopes for renewed diplomacy. The easing of tensions, along with talks involving Oman on the Strait of Hormuz, reduced immediate concerns over potential disruptions to global oil supplies. Dive deeper

Changxin Technology Group shares surged nearly 466% on their STAR Market debut, giving the chipmaker a market capitalization of about 3.3 trillion yuan and making it the most valuable China-listed company. The company raised 57.92 billion yuan ($8.6 billion) in Asia’s biggest IPO of the year and held a 7.67% share of the global DRAM market in 2025, according to its IPO prospectus. Dive deeper

Hong Kong’s exports rose 53.4% YoY to a record $641.1 billion in June 2026, accelerating from 40.8% growth in May and marking the fastest annual expansion since March 1984. Strong shipments of electrical machinery and components, office and data processing machines, telecommunications equipment, power generation equipment, and scientific instruments drove the surge. Dive deeper

The U.S. 10-year Treasury yield fell to around 4.64%, retreating from a six-month high as a sharp decline in oil prices eased inflation concerns. Dive deeper

China's industrial profits grew 15.1% YoY in June, slowing from 21.1% growth in May as weak domestic demand continued to weigh on the economy despite policy support. For the first half of 2026, industrial profits were up 18.7% YoY, with resilient exports helping offset softer consumption. 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 Governor Sanjay Malhotra on whether MPC is placing a premium on growth versus inflation:

First of all, I would say that our primary mandate is inflation and price stability. Even in the past period, we have been guided by that and not so much by growth. We are required to keep growth in mind while we endeavour to meet our primary objective of price stability.

As you rightly mentioned, inflation was very benign, and so we could continue, therefore, to support growth by reducing the policy rate by 125 basis points. However, as I mentioned, it is price stability which is our primary mandate. Growth is certainly a consideration. Therefore, we will do whatever is required first, to maintain price stability and then, to see to what extent we can support growth. - Link

V Vaidyanathan, MD & CEO of IDFC First Bank on seeing significant room for further profitability improvement:

“Corporate banking NIM is lower than retail, so more corporate booking will have an impact on overall NIM. However, we see this in totality. Our vision is for the bank’s ROA to structurally reach 1.7% to 1.8% over time.” - 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, In Part 3 of the Swing Trading series, we move past stock selection and into what actually determines whether the strategy survives — timing, capital allocation, and exits. The parts most traders figure out too late.

We walk through five entry methods (Renko charts, N-day breakouts, flags & pennants, and more), show you how to build and manage a five-stock systematic portfolio with a strict one-in-one-out rule, and break down three trailing stop approaches side by side so you can pick one and stick to it.

We also cover position sizing — both equal allocation and risk-based sizing — with a worked example in rupees. And if you've never considered swing trading a basket of ETFs instead of individual stocks, there's a case for that too.

One thing worth keeping in mind going in: systematic doesn't mean set-and-forget. The math only works if the discipline does.

Check out In The Money

Markets Today

Nifty opened with a 203-point gap down at 23,666, tracking weak global cues after Brent crude surged above $100 per barrel, with no signs of geopolitical tensions easing. Selling pressure persisted through the opening hour, dragging the index to an intraday low near 23,610 as investors continued to trim risk.

However, the market gradually found support from those lower levels, and a steady recovery began mid-morning. By the end of the first half, Nifty had clawed back most of its early losses, reclaiming the 23,700 mark.

The second half saw a much stronger comeback. A sharp move around 12:20 PM lifted the index to 23,800, after which Nifty largely consolidated in the 23,760–23,800 range for the remainder of the session. Although there were a few brief bouts of selling, buyers continued to absorb the pressure.

Nifty eventually closed at 23,767.45, recovering nearly 170 points from the day’s lows and ending well above its opening level, reflecting resilient domestic buying despite elevated crude prices and persistent geopolitical concerns.

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 28th July:

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

The Union Cabinet has approved the ₹3,030-crore BHAVYA-Rasayan Scheme to establish three dedicated chemical parks across India. Under the scheme, the Centre will provide up to ₹1,000 crore in assistance for each park, subject to a minimum ₹500 crore contribution from the respective state government. Dive deeper

India’s private sector activity expanded at its slowest pace in over three years in July, with the HSBC Flash India Composite PMI falling to 54.3 from 57.1 in June. The slowdown was driven by weaker growth in output and new orders amid challenging market conditions, rising competition, order cancellations, softer client enquiries, and raw material shortages. Dive deeper

The U.S. has imposed a 10% Section 301 tariff on imports from India as part of its forced-labour investigation, while 43 other economies, including China, Vietnam and Thailand, face a higher 12.5% tariff. Around 70% of India’s exports including engineering goods, textiles, chemicals, machinery, plastics, leather products, gems and jewellery, and furniture will be subject to the additional 10% tariff, although India did not receive the textile and apparel tariff-rate quota (TRQ) exemption. Dive deeper

HCLTech plans to establish an AI Data Center in Bhubaneswar with a planned investment of ₹14,257 crore, in partnership with Sarvam and the Government of Odisha. The facility, to be located in the upcoming Odisha Sovereign AI Park, is aimed at strengthening India’s sovereign AI infrastructure and follows HCLTech’s proposed entry into the full-stack AI market. Dive deeper

Shriram Finance reported a 59.8% YoY rise in Q1FY27 standalone net profit to ₹3,445 crore, while net interest income (NII) increased 33.7% to ₹8,056 crore. Net interest margin expanded to 9.04% from 8.11% a year earlier, and the board approved a plan to raise funds through debt securities between August and October. Dive deeper

Tata Consumer Products reported a 27.8% YoY rise in Q1FY27 consolidated net profit to ₹427 crore, while revenue from operations increased 11.9% to ₹5,349 crore. The company said operating performance benefited from lower tea costs in India, partly offset by higher coffee costs in the U.S., input cost inflation, and increased brand investments. Dive deeper

Bank of Baroda reported a 72% YoY decline in Q1FY27 net profit to ₹1,278 crore, after absorbing the impact of a roughly ₹5,700 crore out-of-court settlement linked to UAE-based NMC Health. Net interest income, however, rose 9.5% to ₹12,524 crore from ₹11,435 crore a year earlier. Dive deeper

Adani Energy Solutions has secured an inter-state transmission project worth around ₹8,500 crore in Andhra Pradesh. The project will strengthen power transmission infrastructure to support upcoming green hydrogen and green ammonia projects in the Visakhapatnam (Vizag) region. Dive deeper

Hindustan Zinc reported a more than two-fold YoY jump in Q1FY27 consolidated net profit to ₹5,469 crore, driven by higher metal prices, increased production, stronger by-product realisations, and a stronger U.S. dollar. The company also appointed former SAIL Chairman and Managing Director Amarendu Prakash as its CEO and Whole-time Director, effective August 1, 2026. Dive deeper

Top Stories Globally

Crude oil slipped toward $89 per barrel but remained up around 10% for the week, as escalating geopolitical tensions continued to fuel supply concerns. The U.S. carried out a 13th consecutive day of strikes on Iran, while President Donald Trump threatened further military action against Iran and the Houthis, heightening fears of disruptions to Red Sea shipping routes. Dive deeper

GIC plans to invest an additional $30 billion in hedge funds over the next three years while increasing its exposure to artificial intelligence opportunities across its investment portfolio. The move comes after the fund reported its weakest 20-year real rate of return since 2020, reflecting a more conservative investment strategy amid heightened global uncertainty. Dive deeper

Advanced Micro Devices (AMD) expects the global AI compute infrastructure market to grow from $365 billion in 2025 to $2 trillion by 2030, implying a 40% CAGR. To capitalize on this growth, the company unveiled a range of new AI products, including advanced microprocessors, at its annual Advancing AI Summit. Dive deeper

Intel shares rose 6% in premarket trading after the chipmaker forecast third-quarter revenue above Wall Street expectations and raised its 2026 capital expenditure guidance to $20 billion from $18 billion. The upbeat outlook signaled that the ongoing AI boom is supporting Intel’s turnaround efforts. Dive deeper

Chinese battery giant CATL reported a 36.5% YoY rise in Q2 net profit to 22.5 billion yuan ($3.32 billion), beating expectations. Strong growth in its energy storage business helped offset softer demand in the electric vehicle market during the quarter. 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.

Santosh Iyer, MD and CEO, Mercedes-Benz India, says that all their vehicles sold since January are E25 compatible:

“We started with the BS-VI transition that happened in 2018 and since 2020, the entire portfolio of Mercedes-Benz in India was E20-compliant. So, I think none of our customers need to worry about the fuel and the future also because, as I said, the future cars are already compliant to the E25 fuel as well as the cars that we sell today are compliant to E25,” - Link

Vikas Kaushal, Chairman and CMD at HPCL, informed that the refiner had supplies stocked until the end of August:

“We are very well covered for our crude till the end of August fully. In fact, yesterday we have started to buy for September,” - Link

Vetsa Ramakrishna Gupta, Director (Finance) at BPCL on Russian crude discounts:

“We have to wait, maybe next one week, we will come to know what the scenario would be. Although based on recent developments in the crude market, no one [presently] is offering any discount for Russian crude.” - 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 get into the part guides treat as an afterthought – stock selection. Not a checklist, not a screener dump. A method.

Specifically, the Wagner and Pedicelli approach: find the strongest stock inside the strongest sector, and let the money flows do the heavy lifting.

We walk through two live examples using NSE sectoral indexes and the TJI sub-sector indexes, and share a custom TradingView script that builds a true equal-weighted basket — because market-cap weighting lies to you about what’s actually moving. There’s also a case for Renko charts if candlesticks are hiding more than they’re showing.

One thing worth flagging before you dive in: discretionary doesn’t mean no rules. It never has.

Check out In The Money

Markets Today

Nifty opened with a 91-point gap down at 23,905, extending the previous session’s weakness as Brent crude climbed above $98 per barrel, keeping sentiment under pressure amid escalating geopolitical tensions. Despite the weak start, the index recovered some ground in the opening minutes before turning range-bound through the first hour.

Buying interest gradually picked up, helping Nifty climb towards the 23,970–23,985 zone by 11 AM. However, the gains proved short-lived as fresh selling emerged around noon, dragging the index sharply lower. By 12:30 PM, Nifty had slipped below 23,860, giving up nearly all of its intraday recovery.

The second half remained volatile. The index initially extended its losses, hitting an intraday low near 23,820 shortly after 1 PM, before staging a gradual recovery through the afternoon. A sharp spike around 2:30 PM briefly lifted Nifty close to 23,890, but the move quickly reversed as selling resurfaced. In the final hour, the market witnessed another rebound from the day’s lows and eventually closed at 23,869.60, closing below 23,900 without much fight, reflecting continued caution amid elevated oil prices and geopolitical uncertainty.

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 28th July:

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

• The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,800, 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

Infosys reported a 12.2% YoY rise in Q1FY27 net profit to ₹7,769 crore, while revenue increased 14% to ₹48,211 crore, driven by the life sciences and financial services segments. The company also narrowed its FY27 revenue growth guidance to 1.5–3%, lowering the upper end of the range amid global uncertainty and subdued discretionary spending. Dive deeper

Infosys has appointed Ashish Kumar Dash as CEO designate until March 31, 2027, after which he will take over as CEO from April 1, 2027. The five-year appointment, recommended by the board’s Nomination and Remuneration Committee, is subject to shareholder approval. Dive deeper

InterGlobe Aviation reported a Q1FY27 consolidated net loss of ₹238 crore, compared with a profit of ₹2,176 crore a year earlier, as an 85.7% surge in aircraft fuel costs outpaced revenue growth. Revenue from operations rose 19.9% YoY to ₹24,584 crore, while total income increased 18.9% to ₹25,614 crore. Dive deeper

The government has allowed 100% foreign direct investment (FDI) in inventory-based e-commerce exclusively for export-oriented operations, aiming to boost India’s exports while protecting domestic small retailers. Under the revised policy, companies can export only goods that are manufactured or produced in India. Dive deeper

Cipla reported a 39% YoY decline in Q1FY27 consolidated net profit to ₹789 crore, missing Street estimates, as weak North America sales weighed on margins. Revenue from operations rose 2.3% YoY to ₹7,119 crore, marking a record quarterly revenue despite the earnings miss. Dive deeper

PVR INOX reported a Q1FY27 consolidated net profit of ₹56.5 crore, compared with a loss of ₹47.3 crore a year earlier. Revenue from operations rose 12% YoY to ₹1,622.2 crore from ₹1,449.6 crore in the corresponding quarter. Dive deeper

Top Stories Globally

Crude oil surged over 5% to trade above $91 per barrel, extending gains for a fifth straight session to its highest level since June 8, as escalating Middle East tensions fuelled supply concerns. The rally followed attacks by Iran-backed Houthi militants on two Saudi oil tankers in the Red Sea, raising fears of further disruptions to regional shipping and global energy supplies. Dive deeper

The European Central Bank (ECB) kept its key interest rates unchanged at its July meeting after a 25-basis-point hike in June, adopting a cautious, data-dependent approach. The decision reflects easing inflation, slower wage growth, softer economic activity, and moderating inflation expectations, reducing the need for an immediate rate increase. Dive deeper

The U.S. 10-year Treasury yield rose to 4.71%, its highest level since January 2025, extending gains for a fourth straight session as surging oil prices and geopolitical tensions reinforced expectations of further Federal Reserve rate hikes. Markets are now pricing in a 33% chance of a rate hike next week and a 78% probability of a September hike, up from 61% a day earlier. Dive deeper

Porsche is reportedly planning to cut an additional 5,000–6,000 jobs as part of a broader restructuring programme to improve profitability amid rising costs and weaker demand. If implemented, the move would take the company’s total planned workforce reduction to around 9,000 positions by 2035. Dive deeper

U.S. initial jobless claims fell by 22,000 to a seasonally adjusted 187,000 in the week ended July 18, well below economists' expectations of 212,000, signalling continued resilience in the labour market. Continuing claims also declined to 1.796 million, reinforcing expectations that the Federal Reserve can keep its focus on tackling inflation. Dive deeper

The Cigna Group said its AI-powered tools for identifying patients with chronic or complex conditions are expected to save customers $200 million in medical costs over the next three years. 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.

Sanjiv Puri, Chairman & MD of ITC on its ambition to be the number one FMCG company in India:

“We are premiumizing. We are also making structural investments. We are using digital. We are optimizing the backend. So consistently, our margins are improving, and we believe they will continue to improve over time. And the idea is not merely to be number one FMCG only in terms of size. We want to be there in all financial metrics, and not only financial metrics, but very importantly, in terms of serving the customer by having the best quality products and creating value for all the stakeholders in our ecosystem.” - Link

Dr. Gyanendra Shukla, MD & CEO of Rallis India, talks about the evolving monsoon situation:

“El Niño is certainly a reality. The country has seen deficient rainfall, but roughly 50% of the area in the country is irrigated and has some source of water; only the other 50% is highly rainfall-dependent. While there was delayed sowing due to delayed rain, there has also been a catch-up. Most of our farmers are small-scale and are able to quickly plant their crops.

The thing that changes is the crop shift. For example, the pulses area has gone up, but we know groundnut area in Saurashtra has gone down due to delayed rain. Cotton will be planted less, but rice seems to be on track. Maize is also being planted. Some coarse grains like Bajra in marginal areas in Rajasthan might be impacted. It is a mixed picture. Even in a worst-case scenario, 90–95% of the crop will get planted. Clarity is still emerging on farmer preferences. Soybean has been planted despite some seed challenges. If crops get established, farmers will try to protect them because commodity prices are firming up in anticipation of lower yields.” - 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 get into the part guides treat as an afterthought – stock selection. Not a checklist, not a screener dump. A method.

Specifically, the Wagner and Pedicelli approach: find the strongest stock inside the strongest sector, and let the money flows do the heavy lifting.

We walk through two live examples using NSE sectoral indexes and the TJI sub-sector indexes, and share a custom TradingView script that builds a true equal-weighted basket — because market-cap weighting lies to you about what’s actually moving. There’s also a case for Renko charts if candlesticks are hiding more than they’re showing.

One thing worth flagging before you dive in: discretionary doesn’t mean no rules. It never has.

Check out In The Money

Markets Today

Nifty opened with a 38-point gap down at 24,150, tracking a sharp rebound in crude oil prices, which climbed comfortably above $90 per barrel. Selling pressure persisted right from the opening bell, dragging the index quickly towards the 24,020 mark within the first 30 minutes. Although buyers attempted a brief recovery around 10 AM, pushing Nifty back towards 24,050, the bounce proved short-lived as fresh selling emerged.

The index remained under pressure through the rest of the morning, gradually slipping below 24,000 by around 10:30 AM. A modest recovery followed, with Nifty climbing back towards 24,050 around 11:30 AM, but the gains were once again sold into. By the end of the first half, the index had drifted lower to around 23,980, reflecting persistent caution.

The second half remained volatile but largely range-bound. Nifty briefly slipped to an intraday low near 23,965 around 12:30 PM before recovering to the 24,000 mark. However, sustained buying failed to emerge, and the index spent most of the afternoon oscillating between 23,970 and 24,000. A sharp but short-lived spike above 24,020 in the final 30 minutes quickly fizzled out as selling returned. Nifty eventually closed at 23,996.25, ending the session just below the 24,000 mark after another day dominated by cautious sentiment and persistent selling pressure due to rising oil prices.

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 28th July:

• The maximum Call Open Interest (OI) is observed at 24,200, followed by 24,000, indicating potential resistance at the 24,200 -24,300 levels.

• The maximum Put Open Interest (OI) is observed at 24,000, 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

BPCL reported a Q1FY27 consolidated net loss of ₹1,873 crore, compared with a profit of ₹6,839 crore a year earlier, as suppressed fuel marketing margins outweighed higher refining margins. Revenue from operations rose 23% YoY to ₹1.59 lakh crore, while refinery throughput declined 3% to 10.15 million tonnes. Dive deeper

Eternal reported a Q1FY27 consolidated net profit of ₹92 crore, up more than 3x on a yearly basis but down 47% QoQ. Revenue surged to ₹20,211 crore, up 17% QoQ and over 2x YoY, while EBITDA rose 22% QoQ to ₹594 crore, with the EBITDA margin improving to 2.9%. Dive deeper

India's gem and jewellery exports rose 26.5% YoY to $2.21 billion in June, rebounding on lower international gold prices, improving demand across key export markets, and strong orders for gold jewellery, diamonds, and lab-grown diamonds. Dive deeper

Adani Power’s consolidated net profit rose 42% YoY to ₹4,806 crore and revenue increased 34% to ₹18,902 crore. EBITDA grew nearly 40% to ₹7,948 crore, with the EBITDA margin improving to 42%. Separately, the board approved raising the borrowing limit to ₹1 lakh crore and plans to raise up to ₹15,000 crore through a QIP and other fundraising routes to support future expansion. Dive deeper

Nestlé India’s net profit rose 48% YoY to ₹975 crore and revenue increased 25.2% to ₹6,378 crore. EBITDA grew 37.9% to ₹1,537 crore, with an EBITDA margin of 24.1%, while the company said all product categories delivered double-digit growth despite continued pressure on cocoa and sugar prices due to El Niño. Dive deeper

Bandhan Bank shares plunged nearly 17% after the lender lowered its FY27 exit RoA guidance to 1.2–1.4% from 1.6–1.8%, citing geopolitical uncertainty, below-normal monsoon rainfall, tighter liquidity conditions, higher funding costs, and elevated technology expenses. Dive deeper

IndusInd Bank reported a 47% YoY rise in Q1FY27 standalone net profit to ₹1,003 crore, driven by lower provisions for bad loans. Net interest income (NII) increased 1% to ₹4,685 crore, while asset quality improved, with gross NPA declining to 3.25% from 3.64% and net NPA to 0.95% from 1.12% a year ago. Dive deeper

Top Stories Globally

WTI crude oil surged over 4% to trade above $87 per barrel, its highest level in six weeks, as escalating U.S.-Iran tensions heightened fears of supply disruptions. The rally followed the 11th consecutive night of U.S. strikes on Iranian military targets and ongoing concerns over the security of commercial shipping through the Strait of Hormuz. Dive deeper

U.S. President Donald Trump has brought generic drugs into the tariff framework for the first time, proposing zero tariffs from August 1, 2026, followed by 100% from August 2028 and 200% from August 2029. The move is aimed at pushing pharmaceutical companies to reshore manufacturing to the U.S., expanding the administration’s focus beyond patented drugs. Dive deeper

Singapore has launched a green government infrastructure bond offering to raise between S$2.1 billion and S$2.6 billion to finance long-term sustainable infrastructure projects. The bond, maturing on August 1, 2046, carries initial price guidance of around 2.55% and forms part of the country’s broader green financing strategy. Dive deeper

AT&T reported stronger-than-expected wireless subscriber additions in the second quarter, driven by revamped low-cost unlimited plans and bundled mobile-broadband offerings. The results lifted the stock nearly 5% in premarket trading, as the company's convergence strategy continued to improve customer retention and long-term value. Dive deeper

The average rate on a 30-year fixed U.S. mortgage rose 4 basis points to 6.69% in the week ended July 17, the highest level since August 2025, reflecting persistent inflation concerns and expectations that the Federal Reserve will keep interest rates elevated. 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.

Vijay Shekhar Sharma, Founder & CEO of Paytm, reinforced that current profitability is only the beginning and that management expects both earnings and margins to continue improving over time:

“We probably announced 8% of the margin this quarter. This is a ramp up from here. It has to grow forward and forward. I know you are seeking a terminal number and Madhur is saying that it is more than 15–16%. So, the direction is that we are talking about higher profitability and higher profit both together while we are on these numbers.” - Link

Srinivas Tuttagunta, COO of Refining & Marketing at Reliance Industries, highlighted Reliance’s operational resilience by sustaining refinery throughput even as many global refiners reduced production:

“The rest of Asia had runs which were down by maybe 15% to 20% during this crisis, whereas Reliance has been able to maintain a very high throughput, almost 96% to 97%.” - 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 get into the part guides treat as an afterthought – stock selection. Not a checklist, not a screener dump. A method.

Specifically, the Wagner and Pedicelli approach: find the strongest stock inside the strongest sector, and let the money flows do the heavy lifting.

We walk through two live examples using NSE sectoral indexes and the TJI sub-sector indexes, and share a custom TradingView script that builds a true equal-weighted basket — because market-cap weighting lies to you about what’s actually moving. There’s also a case for Renko charts if candlesticks are hiding more than they’re showing.

One thing worth flagging before you dive in: discretionary doesn’t mean no rules. It never has.

Check out In The Money

Markets Today

Nifty opened with a 22-point gap down at 24,216, tracking lacklustre global cues. Selling pressure dominated right from the opening bell, with the index slipping steadily through the first hour to the 24,180–24,190 zone. By the end of the first half, the index had drifted further lower to around 24,165, reflecting a cautious market sentiment.

Weakness intensified briefly after noon as Nifty slipped to an intraday low near 24,140 around 1 PM. However, the index recovered nearly 50 points in less than an hour to reclaim the 24,190 mark by around 1:40 PM. The recovery proved short-lived as selling re-emerged, resulting in another bout of volatile, range-bound trading between 24,160 and 24,190 for the rest of the trading session. The index eventually closed at 24,187.70, just below its opening level, after a volatile session marked by repeated swings between buyers and sellers.

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 28th July:

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

• The maximum Put Open Interest (OI) is observed at 24,200, followed by 24,000, 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

SBI Funds Management made a decent stock market debut, listing at a 6.8% premium on the NSE and 6.2% on the BSE over its IPO price of ₹574. The stock ended the day with gains of around 6%, closing at ₹609.75 on the NSE and ₹609.90 on the BSE. Dive deeper

TVS Motor Company reported a 65% YoY jump in Q1FY27 consolidated net profit to ₹1,058 crore, driven by record quarterly sales. Revenue rose 33.5% YoY to ₹16,296 crore, while overall two- and three-wheeler sales increased 28% to a record 1.63 million units. Dive deeper

Maruti Suzuki India will increase prices across its model range by up to ₹30,000 from August 2026, citing sustained increases in input costs. The automaker said it had absorbed higher costs through cost-cutting measures over the past few months but is now passing on part of the burden to customers amid persistent inflationary pressures. Dive deeper

Bajaj Auto reported a strong Q1FY27 performance, with consolidated net profit rising 45.9% YoY to ₹3,226 crore and revenue increasing 65% to ₹21,689 crore. On a standalone basis, the company posted record revenue and profit, driven by its highest-ever quarterly volumes, better realizations, and broad-based growth across domestic and export markets. Dive deeper

Bandhan Bank reported a 35% YoY rise in Q1FY27 standalone net profit to ₹502 crore, supported by lower provisions. Net interest income grew 6% to ₹2,921 crore, while net interest margin remained stable at 6.2%. Asset quality improved, with GNPA declining to 3.15% and NNPA easing to 0.93%. Dive deeper

Adani Energy Solutions reported a strong Q1FY27 performance, with consolidated net profit more than doubling YoY to ₹1,149 crore, while revenue rose 42.4% to ₹9,711 crore. EBITDA increased 30% to ₹3,008 crore, driven by robust growth in the transmission business, with transmission revenue up 52% and distribution revenue rising 5%. Dive deeper

India’s domestic air passenger traffic declined nearly 12% month-on-month to 1.35 crore in June from 1.53 crore in May, while remaining broadly flat compared with 1.36 crore a year earlier. The decline reflected the seasonal slowdown during June–August and temporary network cuts by airlines amid higher fuel prices following the West Asia conflict. Dive deeper

Top Stories Globally

Crude oil recovered from earlier losses to trade above $84 per barrel, as escalating tensions in the Middle East outweighed renewed diplomatic efforts. The U.S. carried out a tenth consecutive day of strikes after President Donald Trump vowed retaliation for attacks that killed American soldiers, while Iran responded with missile and drone strikes targeting Kuwait. Dive deeper

U.S. President Donald Trump imposed 50% tariffs on a wide range of Canadian imports, citing Canada's alleged discriminatory treatment of American-made automobiles, alcohol and dairy products. The move, made under Section 338 of the Tariff Act of 1930, the law's first known use in nearly a century, opens a new front in the ongoing global trade war. Dive deeper

Samsung Electronics said it will establish a new robotics division reporting directly to the CEO to accelerate robotics development and commercialization. The new RX (Robotics eXperience) division will lead the company's long-term robotics strategy, core technology development and global research efforts, positioning robotics as a key future growth engine. Dive deeper

TSMC plans to raise prices for both advanced and mature chip manufacturing services by up to 10% from 2027, according to a Nikkei Asia report. The news lifted the company's U.S.-listed shares by around 4% in premarket trading. Dive deeper

Taiwan's export orders surged 59.4% YoY to a record $95.3 billion in June 2026, accelerating from 47.2% growth in May, driven by strong global demand for AI and technology products. Growth was led by information and communication products (+81.9% YoY), electronic products (+79.9%), electrical machinery (+14%), and basic metals (+16.5%). 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.

US Trade Representative Jamieson Greer says that the US tariff policy has been “wildly successful” :

“At the end of the day, we are winning in changing the trade policy. We’re winning in getting the trade deficit down. We’re winning in reshoring. We’re winning in wages. We’re winning on all these things. So I’m happy with where we are and where we’re going.”

“This is not a foreign policy shop. This is an economics shop here. And so when I look at someone like the European Union that blocks American agricultural goods for specious, non-scientific reasons, that’s a problem. Friend or foe, that’s an issue.” - Link

Puneet Sharma, CFO of Axis Bank, on concerns about margin pressure, clarified that their wholesale growth is strictly focused on top-tier, high-rated borrowers:

“Regarding corporate lending, we are lending at positive spreads and benchmarks we feel comfortable with. As long as we lend at positive spreads and meet risk thresholds, we are happy to pursue this. Please note that 91% of our corporate lending is to A-minus and above-rated corporates. We have not slipped down the credit spectrum at all; this is high-quality lending.” - 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 get into the part guides treat as an afterthought – stock selection. Not a checklist, not a screener dump. A method.

Specifically, the Wagner and Pedicelli approach: find the strongest stock inside the strongest sector, and let the money flows do the heavy lifting.

We walk through two live examples using NSE sectoral indexes and the TJI sub-sector indexes, and share a custom TradingView script that builds a true equal-weighted basket — because market-cap weighting lies to you about what’s actually moving. There’s also a case for Renko charts if candlesticks are hiding more than they’re showing.

One thing worth flagging before you dive in: discretionary doesn’t mean no rules. It never has.

Check out In The Money

Markets Today

Nifty opened with a 144-point gap down at 24,190, reacting to the sharp rise in crude oil prices amid escalating tensions in the Middle East. At the same time, investors also digested the weekend earnings from heavyweights such as HDFC Bank, Reliance Industries, ICICI Bank, and Axis Bank. After the weak opening, the index remained under pressure through the first few minutes and slipped further to around 24,160.

However, buyers gradually stepped in, helping Nifty recover steadily through the morning. By around 10:30 AM, the index had reclaimed the 24,220 mark and continued to edge higher, trading in the 24,220–24,250 range for most of the late morning. The recovery gained further momentum just after noon, with the Nifty touching an intraday high near 24,260 at around 2 PM.

The second half was comparatively range-bound, with the index oscillating between 24,220 and 24,260 as investors turned cautious after the sharp rebound. While profit booking emerged intermittently, every dip found buying support, preventing any meaningful decline. In the final hour, Nifty gave up a small part of its gains but managed to hold comfortably above the 24,230 level, eventually closing at 24,238.50.

Despite ending marginally below its opening price, the index recovered nearly 100 points from its intraday lows, reflecting resilience in domestic markets despite persistent geopolitical concerns and elevated oil prices.

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 21st July:

• 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 24,200, followed by 24,000, 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

HDFC Bank fell over 5% despite reporting a 5% YoY rise in Q1FY27 standalone net profit to ₹19,060 crore, with NII up 6.7% to ₹33,536 crore. The bank reported a net interest margin of 3.26%, while gross and net NPAs stood at 1.17% and 0.41%, respectively. Dive deeper

Axis Bank also declined more than 5% after posting a 23% YoY increase in Q1FY27 standalone net profit to ₹7,114 crore. NII rose 8% to ₹14,646 crore, while asset quality improved, with GNPA falling to 1.28% and net NPA to 0.39%. Dive deeper

Reliance Industries closed 0.4% lower despite reporting a record Q1FY27 consolidated net profit of ₹23,196 crore, up 6.1% YoY. Record EBITDA of ₹54,067 crore (+10.1% YoY) and a 24.5% rise in gross revenue to ₹3.4 lakh crore were driven by strong double-digit growth in Jio Platforms and the oil-to-chemicals business. Dive deeper

ICICI Bank gained over 1% after reporting a 15.9% YoY rise in Q1FY27 net profit to ₹14,805 crore. Strong net interest income, stable loan growth and lower provisions supported earnings, with profit coming in 11% above consensus estimates. Dive deeper

India’s core infrastructure output grew 5% year-on-year in June, the fastest pace in five months, driven by strong growth in cement, electricity, and iron ore production. The data, based on a revised 2022–23 base year, showed cement and electricity output rising 9.8% each, while iron ore production surged 43.9%, offsetting declines in crude oil, natural gas, refinery products, and fertiliser. Dive deeper

The Finance Ministry said there is no proposal under consideration to scrap the long-term capital gains (LTCG) tax on equity investments. The government added that capital gains tax policies are reviewed periodically during the Union Budget process, while LTCG tax collections from equity transactions rose nearly 79% to around ₹2.01 lakh crore during FY24 and FY25 combined. Dive deeper

UltraTech Cement reported a 16.8% year-on-year increase in Q1FY27 consolidated net profit to ₹2,599.3 crore, while revenue rose 15.9% to ₹24,648.2 crore. Domestic sales volumes grew 13.1% to 39.2 million tonnes, with capacity utilisation at 81%, and EBITDA per tonne improved to ₹1,214 from ₹1,198 a year earlier. Dive deeper

L&T secured multiple domestic metals and mining orders worth ₹10,000–15,000 crore for its Metals & Minerals business. The contracts include an iron ore handling plant in Chhattisgarh from India’s largest iron ore producer, supporting its plan to expand production capacity to 100 million tonnes per annum by 2030. Dive deeper

PNB shares rose over 5% after the lender reported a 214% year-on-year jump in Q1FY27 net profit to ₹5,253 crore, aided by steady lending income and improved asset quality. Net interest income rose 2% YoY to ₹10,798 crore. Dive deeper

Top Stories Globally

Brent crude pared earlier gains to trade around $88 per barrel after briefly crossing $91, as renewed diplomatic efforts between the U.S. and Iran eased supply concerns. Iran said it had received proposals from international mediators and signalled that talks with the U.S. could continue if they align with the country's national interests. Dive deeper

U.S. import prices rose 0.3% in June, driven by higher nonfuel goods prices that offset lower petroleum costs, according to the U.S. Bureau of Labor Statistics. Import prices increased 7.1% year-on-year, the fastest annual rise since August 2022, while nonfuel import prices climbed 4.2%, marking their biggest annual increase since June 2022. Dive deeper

U.S. gasoline prices crossed the $4-a-gallon mark for the first time in months as renewed US-Iran hostilities disrupted energy flows through the Strait of Hormuz. According to the American Automobile Association, the national average retail gasoline price rose to $4.003 per gallon, up more than 30% since late February. Dive deeper

Domino’s Pizza’s quarterly revenue slightly exceeded Wall Street estimates as growth in its supply-chain business offset weaker restaurant demand. U.S. same-store sales rose just 0.1%, below expectations of 0.62%, while the stock gained about 7% in premarket trade despite being down around 23% this year. Dive deeper

Samsung Biologics will acquire Swiss contract drugmaker PolyPeptide Group in an all-cash deal valued at 1.46 billion Swiss francs ($1.81 billion). The offer of 44.31 Swiss francs per share represents a 6.1% premium to PolyPeptide’s last closing price and strengthens Samsung Biologics’ presence in peptide-based therapeutics, including GLP-1 obesity and diabetes drugs. Dive deeper

AMC Entertainment Holdings reported a surprise adjusted profit and record Q2 revenue, beating Wall Street estimates as strong box office performances from blockbuster releases like "The Super Mario Galaxy Movie" and "Obsession" boosted ticket sales. The company's shares jumped 16.5% in premarket trading. 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.

Ashok Vaswani, Kotak Mahindra Bank’s outgoing MD & CEO, on succession & significant restructuring and repair work across the bank:

“Internally, we have a very strong bench, but I am sure the NRC will look broader.”

“You are aware of the technology embargo. You are well aware of rebuilding of the entire management team,”

“We have cleaned up the personal loan book, we have cleaned up the credit card book, we have cleaned up the microfinance book,” - Link

Nilesh Maru, CFO of Polycab, believes India’s power infrastructure build-out will remain a major structural demand driver for the cable industry over the next five years:

“A ₹100 spend on transmission and distribution translates to a cable requirement of 15%, which is very high. We believe the next five years will be monumental for generation, transmission and distribution combined. Another lead indicator is the capacity expansion plans of transformer companies, whose order books are now 2.5x their revenue.” - 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 get into the part guides treat as an afterthought – stock selection. Not a checklist, not a screener dump. A method.

Specifically, the Wagner and Pedicelli approach: find the strongest stock inside the strongest sector, and let the money flows do the heavy lifting.

We walk through two live examples using NSE sectoral indexes and the TJI sub-sector indexes, and share a custom TradingView script that builds a true equal-weighted basket — because market-cap weighting lies to you about what's actually moving. There's also a case for Renko charts if candlesticks are hiding more than they're showing.

One thing worth flagging before you dive in: discretionary doesn't mean no rules. It never has.

Check out In The Money

Markets Today

Nifty opened with a 55-point gap up at 24,127, showing resilience despite weak and shaky global cues. After the positive start, the index steadily advanced through the morning, reclaiming the 24,250–24,280 zone within the first hour. While there were intermittent bouts of profit booking, Nifty largely held on to its gains and traded in a narrow range around 24,260–24,290 through the late morning session.

In the second half, the index remained range-bound initially before witnessing a brief dip around 2 PM, slipping toward the 24,220–24,230 zone. However, buying interest returned swiftly, triggering a strong rally in the final hour. Nifty climbed steadily, broke above 24,300, and eventually closed at 24,334.30, near the day’s high, as sustained buying helped the index end the week on a strong note despite higher oil prices and weak global 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 21st July:

• The maximum Call Open Interest (OI) is observed at 24,700, followed by 24,800, indicating potential resistance at the 24,500 -24,600 levels.

• The maximum Put Open Interest (OI) is observed at 24,200, followed by 24,000, 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

The Indian rupee recorded its sharpest weekly decline since May, closing at ₹96.28 per U.S. dollar, down about 1% for the week. The currency came under pressure from a 13% surge in Brent crude oil prices amid escalating US-Iran tensions and strong importer demand for dollars. Dive deeper

NTPC will consider raising up to ₹12,000 crore through the issuance of non-convertible debentures (NCDs) at its board meeting on July 24. Dive deeper

India's foreign exchange reserves rose by $964 million to $675.16 billion for the week ended July 10, 2026, according to the Reserve Bank of India. The increase was primarily driven by a $930 million rise in foreign currency assets, which climbed to $546.51 billion. Dive deeper

The AMFI has simplified the mutual fund transmission process for nominees of deceased investors by easing rules around address, name, and signature mismatches. The revised framework allows asset management companies to rely on the latest supported address records and adopt a standardized approach for resolving minor and major name or signature discrepancies. Dive deeper

JSW Steel reported a more than twofold rise in Q1FY27 consolidated net profit to ₹4,696 crore from ₹2,209 crore a year ago, while total income increased to ₹48,088 crore from ₹43,497 crore. During the quarter, the company also began construction of a 2 million tonne per annum steel plant in Andhra Pradesh with an investment of over ₹16,350 crore. Dive deeper

Federal Bank reported a 37% year-on-year rise in Q1FY27 net profit to ₹1,177 crore, driven by strong growth in net interest income, higher net interest margins, and lower fresh slippages. Net interest income increased 26% YoY to ₹2,946 crore, while other income declined 6% YoY to ₹1,048 crore. Dive deeper

India's smartphone shipments declined 10% year-on-year in the April–June 2026 quarter, marking the steepest June-quarter fall in six years, according to Counterpoint Research. The decline was primarily driven by record-high memory chip prices, which weighed on smartphone demand. Dive deeper

Havells India reported a 16.6% year-on-year decline in Q1FY27 consolidated net profit to ₹289.7 crore, weighed down by higher raw material costs and increased advertising spending. Revenue from operations rose 19.5% YoY to ₹6,518.2 crore. Dive deeper

Top Stories Globally

Crude oil traded near $81 per barrel, hovering around one-month highs as investors weighed the escalating conflict between the US and Iran. Prices remained supported after continued US strikes on Iranian military targets and concerns that the conflict could disrupt shipping through the Red Sea. Dive deeper

The Nikkei 225 Index plunged 4.03% to close at 64,140, while the broader TOPIX fell 2.72% to 3,919, with both benchmarks ending at their lowest levels in over a month. The selloff was driven by a sharp decline in semiconductor stocks amid growing concerns over elevated AI-related spending and stretched valuations. Dive deeper

Netflix forecast Q3 revenue of $12.86 billion and diluted earnings per share of $0.82, both below Wall Street expectations, while also announcing it will reduce the frequency of reporting viewing-hours data. The weak outlook sent Netflix shares down nearly 8.6% in after-hours trading. Dive deeper

Uber has agreed to acquire Delivery Hero in a deal valuing the company at $14.8 billion. The acquisition strengthens Uber's global food delivery business as it looks to compete more effectively with rivals such as DoorDash and Just Eat. Dive deeper

U.S. stock index futures declined on Friday, extending the previous session's losses as concerns over elevated AI-driven valuations continued to weigh on technology stocks. S&P 500 futures fell 0.9%, Nasdaq 100 futures dropped 1.9%, and Dow futures slipped 0.6%, while chip stocks remained under pressure despite strong earnings from TSMC. 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.

Hitesh Sethia, MD and CEO of Jio Finance, says that the company can borrow money at lower rates than most competitors, which is a major competitive advantage in lending:

“Our average cost of borrowing trends at 7.07%, which remains the lowest in the industry, reflecting the credit market’s high confidence in our structural underwriting strength and corporate governance. We have carefully diversified our funding base across term loans, commercial papers, and market instruments.” - Link

Arnab Banerjee, MD & CEO of CEAT Tyres, says that the underlying demand remains healthy across replacement and OEM channels despite recent price increases:

“Post the GST change, through Q3, Q4 and now Q1, demand has been robust across segments in the replacement market and in OEMs. You are aware of the numbers being reported by the commercial vehicle, passenger vehicle and two-wheeler industries.” - 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 trace where the idea of using moon cycles to time the markets actually came from — and test whether it holds up at all.

Two dates appear on every lunar trading calendar. Most traders never question them. We did — and it led us from a Babylonian clay tablet to a forgotten astrologer on JP Morgan’s payroll.

The moon cycle trade — ancient Hindu astronomy, WD Gann’s coded manuscripts, and a strategy that wins 59% of the time but still can’t beat a simple buy and hold. One hypothesis. Over a thousand years of celestial observation. And a reason why a pattern in the data is not the same as an edge in your account.

Check out In The Money

Markets Today

Nifty opened with a 64-point gap up at 24,142, following positive global cues. The index touched an intraday high near 24,170 in the first hour, then saw gradual profit-booking towards 24,100. It traded in a narrow range through the late morning with one more spike towards 24,180 around 11 AM.

Weakness deepened in the second half, with the index slipping sharply to an intraday low near 24,050 around 1:40 PM. A swift rebound followed, helping Nifty recover above 24,100, but the gains proved short-lived as another bout of selling emerged in the final hour. Nifty eventually closed the day flat at 24,072.75, well off its intraday highs, after a volatile session marked by sharp swings in the second half.

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 21st July:

• 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 24,100, suggesting support at 23,900-23,800.

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

Wipro reported a 0.6% year-on-year rise in Q1FY27 consolidated net profit to ₹3,352 crore, while revenue increased 10.6% to ₹24,479 crore. IT services revenue stood at $2.61 billion, down 1.4% quarter-on-quarter but up 1% year-on-year, and the company's board declared an interim dividend of ₹2 per equity share. Dive deeper

Tech Mahindra reported a 31.7% year-on-year rise in Q1FY27 consolidated net profit to ₹1,486.3 crore, driven by higher revenue and operating earnings. Revenue from operations increased 17.7% to ₹15,711.9 crore, while net profit rose 9.6% sequentially and revenue grew 4.2% over the March quarter. Dive deeper

HCL Technologies will acquire Guardian India Operations for $10.5 million (around ₹101 crore), taking over the technology and operations global capability centre of Guardian Life Insurance Company of America. The deal includes the transfer of nearly 2,000 employees to HCLTech and forms part of a seven-year strategic partnership with Guardian Life Insurance. Dive deeper

BHEL reported a consolidated net profit of ₹378 crore in Q1FY27, compared with a loss of ₹456 crore in the year-ago quarter, driven by stronger operating performance. Revenue rose 40.3% year-on-year to ₹7,698 crore from ₹5,487 crore. Dive deeper

Polycab India reported a 32.5% year-on-year rise in Q1FY27 net profit to ₹784 crore, while revenue from operations increased 39% to ₹8,210 crore, driven by strong growth in its Wires & Cables and Fast Moving Electrical Goods businesses. EBITDA rose 32.5% to ₹1,136 crore, although the EBITDA margin narrowed to 13.8% from 14.5% a year earlier. Dive deeper

Top Stories Globally

Crude oil held above $80 per barrel, hovering near one-month highs as escalating U.S.-Iran hostilities intensified concerns over Middle East energy supplies. Prices were supported by reports of fresh U.S. strikes near Iran’s main oil export terminal, retaliatory Iranian attacks on U.S. bases, and the suspension of crude loading at Iraq’s Basra export terminal after a drone strike on an oil tanker. Dive deeper

The Eurozone recorded a €7.8 billion trade deficit in May 2026, reversing a €15 billion surplus a year earlier and marking its largest monthly trade shortfall since April 2023. The deterioration was driven by a 10% surge in imports, particularly energy, while exports were broadly flat, alongside smaller trade surpluses in machinery, vehicles and chemical products. Dive deeper

The European Commission has directed Google to provide fair access to key services for AI rivals such as OpenAI and competing search engines under the EU’s Digital Markets Act. The move outlines Google’s compliance obligations six months after the regulator launched proceedings to curb the market power of Big Tech. Dive deeper

Nvidia has partnered with Japanese companies including Fanuc and Yaskawa Electric to accelerate the development of AI and robotics. Nvidia CEO Jensen Huang said the collaboration aims to make robots smarter, more adaptable, and easier to deploy using AI. Dive deeper

Shares of Atai Beckley surged as much as 50% in premarket trading after reports that Eli Lilly is in advanced talks to acquire the company at a premium. Before the report, Atai Beckley had a market capitalisation of about $1.97 billion, with its shares already up 31% in 2026. 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.

Warren Buffett said that it was him, not his successor and new Berkshire Hathaway CEO Greg Abel, who led the conglomerate’s investment in Google:

“I initiated it; I am not doing anything that he does not approve of. He is not doing anything I don’t approve of. We talk all the time, but he is the decider.”

“I would say that I don’t like it as well as at least four or five other businesses that we own. The real question with Google and all of its competitors now, because they are all laying out hundreds of billions, and that is real money. That is the game they are playing now. They weren’t playing that game with computer software.” - Link

Warren Buffett criticised the current stock market environment:

“It is tough to find value when everybody is preferring gambling.”

“If you are buying one-day options or selling them, that is not investing, it is not speculating, it is gambling. We have never had people in a more gambling mood than now. It doesn’t mean investing is terrible. It does mean prices for an awful lot of things look very silly,” - 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 trace where the idea of using moon cycles to time the markets actually came from — and test whether it holds up at all.

Two dates appear on every lunar trading calendar. Most traders never question them. We did — and it led us from a Babylonian clay tablet to a forgotten astrologer on JP Morgan's payroll.

The moon cycle trade — ancient Hindu astronomy, WD Gann's coded manuscripts, and a strategy that wins 59% of the time but still can't beat a simple buy and hold. One hypothesis. Over a thousand years of celestial observation. And a reason why a pattern in the data is not the same as an edge in your account.

Check out In The Money

Markets Today

Nifty opened with a 34-point gap-up at 24,086, following positive global cues on a softer-than-expected US inflation print, even as tensions in the Middle East continued to keep investors cautious. The index extended its early gains, climbing steadily to the 24,200–24,220 zone within the first hour, with buying interest remaining broad-based through the morning.

However, sentiment turned sharply after noon. Nifty slipped from around 24,170 to nearly 24,050 in a swift sell-off around 12:45 PM, erasing all of its morning gains. The index then remained volatile through the second half, oscillating in the 24,050–24,100 range as buyers and sellers battled for control. Despite a few recovery attempts, Nifty failed to regain the lost ground and closed at 24,078.50, giving up most of its intraday gains after a sharp midday reversal.

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 14th July:

• 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 24,100, suggesting support at 23,900-23,800.

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 seasonal rainfall deficit has narrowed to 23% since June 1 from 37% at the end of June, helped by a wetter first half of July when rainfall was only 4% below normal, according to the India Meteorological Department (IMD). Cumulative rainfall has reached 227 mm against the long-period average of 294.2 mm, with 21 meteorological subdivisions, covering 56% of the country, still classified as rainfall deficient. Dive deeper

The Union Cabinet has approved the second phase of the India Semiconductor Mission (ISM) with an outlay of ₹1.27 trillion and the second phase of the Mobile Phone Manufacturing Scheme with an allocation of ₹62,500 crore. The government also said that three of the 12 semiconductor manufacturing and packaging plants approved under the ISM have already commenced commercial production. Dive deeper

HDFC Life reported a 12% year-on-year rise in Q1FY27 standalone net profit to ₹611.4 crore. Value of new business (VNB) increased 9% to ₹879 crore, while the VNB margin remained largely stable at 25%. The insurer’s industry market share stood at 11.2%, with proprietary channels growing 17%, partly offset by moderate growth in the bancassurance channel. Dive deeper

Jana Small Finance Bank reported a 52.3% year-on-year rise in Q1FY27 net profit to ₹155 crore, driven by a 33% increase in net interest income to ₹782 crore, lower provisions and improved asset quality. Dive deeper

Raymond Realty has signed a joint development agreement for a premium residential project in Mumbai's Parel, marking its entry into the South Mumbai market. The project has an estimated gross development value (GDV) of around ₹8,500 crore, making it the company's largest development outside its flagship Thane land parcel and its eighth joint development project in Mumbai. Dive deeper

IKEA plans to more than double its investment in India to over ₹21,000 crore by 2030 as it expands its store network, strengthens local sourcing and enhances its omni-channel presence. Dive deeper

Ather Energy will receive a ₹200 crore investment from the Government of India through the India-Japan Fund as part of its proposed ₹1,200 crore fundraise. The government-backed investment, managed by National Investment and Infrastructure Fund, will be made alongside contributions from Ather's founders and existing shareholder Hero MotoCorp. Dive deeper

Top Stories Globally

Crude oil climbed above $79 per barrel, extending gains for a third straight session to a one-month high, as escalating U.S.-Iran tensions heightened concerns over Middle East oil supplies. Prices rose after fresh U.S. strikes on Iranian military assets and the reinstatement of a naval blockade targeting Iranian ports near the Strait of Hormuz, raising fears of further disruptions to global shipping and energy flows. Dive deeper

China's economy grew 4.3% year-on-year in the second quarter of 2026, slowing from 5.0% in the previous quarter and missing market expectations of 4.5%. The weakest growth since Q4 2022 reflected soft domestic demand, weak private investment and a prolonged property downturn, despite resilient AI-related exports, increasing expectations of further policy support. Dive deeper

Stripe and private equity firm Advent International have jointly offered to acquire PayPal for $60.50 per share, valuing the payments company at more than $53 billion. The offer, backed by about $50 billion in committed bank financing, represents a roughly 28% premium to PayPal's closing share price on Tuesday. Dive deeper

BlackRock reported better-than-expected second-quarter profit as a stock market rally boosted the value of client assets and strong inflows into its exchange-traded funds lifted earnings. Assets under management climbed to a record $15.34 trillion, up from $12.53 trillion a year earlier and $13.89 trillion in the previous quarter. Dive deeper

ASML raised its 2026 sales forecast for the second time this year after reporting better-than-expected second-quarter earnings. The company now expects full-year net revenue of €43–45 billion, up from its earlier guidance of €36–40 billion, and pledged to expand production capacity to support strong AI-driven chip demand, boosting its shares nearly 4%. 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.

Venu Lambo, CEO and MD of LTM on strong demand for FDE engineers globally:

“We have moved from AI creation to AI deployment. As conversations get real, there is a strong demand for FDE engineers globally. Currently, there are only a few thousand available. The market needs a large population of them to accelerate adoption.” - Link

Manoj Raghavan, MD & CEO of Tata Elxsi, explained why AI will not materially disrupt ER&D services:

“While AI can help write C++ code 20–30% faster, software coding is not the biggest part of the work. Product planning, architecture, requirements mapping and regulatory alignment are much larger portions of the lifecycle. Customers are less focused on cost savings than they are on quality and productivity.” - Link

Nidhu Saxena, MD and CEO of Maharashtra Bank, says the bank is prioritizing high-quality, profitable growth over simply increasing loan volumes at any cost:

“Profitability, rather than mindlessly increasing the top line, has always been a conscious element in our growth journey. We focus on growth that is profitable without compromising asset quality, looking at the medium to long term. To ensure good interest income and overall profitability, we have implemented several initiatives that are pioneering in the industry for our review mechanisms with field leadership.” - 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 go back to basics — but not the way most people mean it. What is swing trading, really? Where did the term come from? And why does nobody agree on a definition?

We trace the idea across a hundred years of market history and lay out seven distinct methods traders have used to identify a swing. There’s also something most guides skip: the toolkit changes depending on what you’re trading. Stocks let you compare. Commodities and indexes don’t. That distinction matters more than the method you pick.

Check out In The Money

Markets Today

Nifty opened with a 143-point gap-down at 24,068, following rising tensions in the Middle East, pushing oil prices back above $80 per barrel. The index witnessed volatile trading in the opening hour, briefly slipping below 24,050 before recovering to the 24,140–24,145 zone by late morning. However, the rebound proved short-lived as selling pressure resurfaced, dragging Nifty back toward 24,100 by noon.

In the second half, the weakness persisted. After a brief consolidation around 24,060–24,080, the index saw another bout of selling post 1:30 PM, slipping below 24,050 and remaining under pressure for most of the afternoon. Although there were a few intraday recovery attempts, they failed to sustain as sellers remained in control. Nifty eventually closed at 24,052.05, near the lower end of the day’s range, as geopolitical concerns and rising crude prices kept sentiment subdued.

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 14th July:

• The maximum Call Open Interest (OI) is observed at 24,100, 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 24,100, suggesting support at 23,900-23,800.

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 by 62 paise to close at 96.30 against the U.S. dollar on Tuesday, pressured by a sharp rise in crude oil prices and renewed geopolitical tensions. Dive deeper

India's wholesale price inflation (WPI) rose to a record high of 9.87% in June from 9.68% in May under the new series, as higher food and primary article prices outweighed easing energy costs. The Producer Price Index (PPI) also increased to 9.57% from 9.38%, reflecting sustained inflationary pressures in goods production. Dive deeper

Net direct tax collections rose 16.4% year-on-year to over ₹6.51 lakh crore as of July 13, driven by robust corporate tax receipts, according to government data. Net corporate tax collections increased 22% to ₹2.40 lakh crore, while net non-corporate tax collections, including taxes paid by individuals, HUFs and firms, grew nearly 12% to over ₹3.84 lakh crore. Dive deeper

TCS has partnered with the New Terminal One at New York's John F. Kennedy International Airport to deliver an AI-powered, digitally enabled passenger experience. As the terminal's strategic technology and innovation partner, TCS will help improve operational efficiency for airlines and support the $19 billion transformation of JFK Airport into a modern global aviation hub. Dive deeper

The government released the first trial Index of Services Production (ISP), showing that 14 of 19 formal services sub-sectors recorded double-digit year-on-year growth in April 2026. The index covers key segments such as wholesale and retail trade, hospitality, road transport, telecommunications and banking, representing about 60% of the services sector, with all categories except railways and air transport posting positive annual growth. Dive deeper

Jindal Saw reported a 75.5% year-on-year decline in consolidated net profit to ₹104 crore in Q1FY27, as weak export operations and challenges in its water pipe business weighed on earnings. Revenue from operations rose 9% to ₹4,452 crore, while the company said persistent geopolitical instability in the MENA region continued to impact its export business. Dive deeper

Top Stories Globally

IBM shares plunged 23% in pre-market trading after the company reported weaker-than-expected earnings, citing weakness in its software and infrastructure businesses. The selloff spread across the software sector, with Oracle, ServiceNow, Accenture, Adobe and Cognizant declining in pre-market trade, while the ADRs of Infosys and Wipro fell nearly 9% and 3%, respectively. Dive deeper

Crude oil surged more than 3% to nearly $81 per barrel, its highest level in almost a month, as the collapse of the U.S.-Iran truce reignited fears of supply disruptions in the Middle East. The rally followed a 9.4% jump in the previous session after fresh attacks on shipping in the Strait of Hormuz, including strikes on two UAE tankers, alongside renewed U.S. sanctions and military action against Iran. Dive deeper

Transit through the Strait of Hormuz remained severely disrupted during July 10–12, averaging fewer than 25 vessel crossings per day, according to an S&P Global report. Traffic fell to just 11 transits on July 12 after Iran declared the waterway closed, marking the lowest daily level since June 14 and the first day since June 12 with no inbound vessel crossings. Dive deeper

U.S. consumer prices fell 0.4% month-on-month in June, reversing May's 0.5% increase and marking the first monthly decline since May 2020. The larger-than-expected drop was driven mainly by a 5.7% fall in energy prices as crude oil retreated from multi-year highs. Dive deeper

Anthropic has introduced rupee-denominated pricing for its Claude AI assistant in India, making subscriptions easier for local customers. The Claude Pro plan is priced at ₹2,000 per month, while the Claude Max plan starts at ₹11,999 per month, reflecting the company's focus on one of its largest user markets. 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.

Federal Reserve Chair Kevin Warsh on Inflation and the impact of AI on the US economy:

"If we get policy right — and we will — the inflation surge of the last five years will be a thing of the past,"

While monthly price fluctuations are inevitable — especially in an unsettled world — underlying inflation over longer time horizons is determined largely by monetary policy."

"We don't know the extent to which the economy will benefit from the AI buildout." - 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 go back to basics — but not the way most people mean it. What is swing trading, really? Where did the term come from? And why does nobody agree on a definition?

We trace the idea across a hundred years of market history and lay out seven distinct methods traders have used to identify a swing. There’s also something most guides skip: the toolkit changes depending on what you’re trading. Stocks let you compare. Commodities and indexes don’t. That distinction matters more than the method you pick.

Check out In The Money

Markets Today

Nifty opened with a 168-point gap down at 24,039, following a flare-up in tensions in the Iran–US conflict, which pushed oil prices sharply higher. After the weak start, the index briefly slipped toward the 24,000 mark before witnessing a steady recovery through the morning, mainly led by IT stocks. Nifty reclaimed the 24,100 level within the first hour and gradually climbed higher, ending the first half near 24,150.

Buying momentum strengthened in the second half, with the index breaking above 24,200 shortly after 12:30 PM and touching an intraday high near 24,260. Although there was a brief bout of profit booking around 1:30 PM till 24,170 levels, Nifty quickly recovered and remained firm through the remainder of the session. Despite some late selling from the day’s highs, the index closed at 24,211, recouping the entire gap-down loss and ending the day comfortably above the 24,200 mark.

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 14th July:

• 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 24,100, 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 retail inflation, measured by the CPI, accelerated to 4.38% in June from 3.93% in May, crossing the RBI’s 4% medium-term target, as higher food prices pushed inflation higher. Food inflation rose to 5.32% from 4.78%, while rural inflation remained higher than urban, with CPI at 4.74% versus 3.92% and food inflation at 5.45% versus 5.09%, respectively. Dive deeper

India's merchandise trade deficit widened 59% year-on-year to $30.43 billion in June, as exports fell to $40.41 billion while imports stood at $70.84 billion. Compared with May, merchandise exports declined from $45.2 billion and imports eased from $73.41 billion, according to government data. Dive deeper

HCL Technologies reported a 20% year-on-year rise in Q1FY27 net profit to ₹4,624 crore, beating estimates, while revenue grew 14% to ₹34,579 crore. Operating margin improved to 16.9%, despite a 62 bps impact from restructuring costs, and the company retained its FY27 guidance of 1–4% constant currency revenue growth and an EBIT margin of 17.5–18.5%. Dive deeper

United Breweries has signed a long-term manufacturing agreement with Adie Broswon Breweries (ABB), expanding its brewing footprint in North India. The partnership will leverage ABB's 12-million-case brewery, which produced a record five million cases in FY26, to support large-scale manufacturing requirements for leading beverage companies. Dive deeper

LTM has partnered with Anthropic to bring its Claude family of AI models to enterprise clients. Under the partnership, LTM will integrate Claude, Claude Code and Claude Cowork into its BlueVerse AI platform to support software engineering, application modernisation and other enterprise workflows. Dive deeper

ICICI Prudential Asset Management Company reported a 25.5% year-on-year rise in Q1 net profit to ₹965 crore, driven by strong business growth. Total income increased 20.2% to ₹1,745 crore from ₹1,452 crore in the year-ago period. Dive deeper

Top Stories Globally

Crude oil surged more than 3% to around $74 per barrel after renewed U.S. strikes on Iran heightened fears of supply disruptions in the Middle East. Conflicting claims over the status of the Strait of Hormuz, fresh Iranian attacks on U.S. allies, and reported damage to an offshore drilling platform in Kuwait further raised concerns over regional energy security, even as diplomatic efforts to ease tensions continued. Dive deeper

SK Hynix shares plunged more than 15% in Seoul, marking their biggest single-day decline in nearly two decades, as investors locked in gains following the company's Nasdaq debut. Meanwhile, its U.S.-listed ADRs fell 9.2% in premarket trading after surging more than 12% on their debut on Friday. Dive deeper

Volkswagen may need to cut another 50,000 jobs to match the competitiveness of rivals, potentially taking total reductions to as many as 100,000 positions, CEO Oliver Blume told employees. The automaker is seeking to lower costs as profits come under pressure from tariffs, intense competition in China and inefficiencies across its German manufacturing network. Dive deeper

TSMC reported a 36% year-on-year rise in second-quarter revenue to T$1.27 trillion ($39.63 billion), driven by robust AI-led demand for advanced chips. June revenue surged nearly 68% to T$442.68 billion, while first-half 2026 revenue climbed almost 36% to T$2.40 trillion, supported by strong orders from major customers such as Nvidia. Dive deeper

Japan plans to increase allocations to alternative assets at the Government Pension Investment Fund, the world’s largest pension fund, as part of efforts to diversify its portfolio and reduce investment risk. The fund aims to gradually raise exposure to unlisted equities, real estate and other alternative assets toward its existing 5% allocation cap, up from 1.7% of holdings as of March. 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.

Venugopal Lambu, CEO and MD, LTM on AI-based growth and hiring strategy:

“We announced for the first time AI revenue of $150 million on a quarterly run rate basis, which translates to 12 percent of our revenue. We want to grow that fast.”

“We want to grow that faster across business AI, creative AI, and industry AI. These are three types of AI work we have classified as pure AI revenue. There is also the other piece of work that we call as enterprise AI, which we didn’t include in this $150 million.”

“Today if somebody asks me how many you are hiring, I would say give me as many AI engineers as you can; I will hire all of them. If there is a pool of engineers with AI-led software engineering capabilities, AI skills with domain context, AI with data orientation, AI with deployment capabilities, we will hire all of them,”

“It is about how do I get my supply constraint addressed to map to the demand… There is a lot of demand in all of these areas. I have significant open positions against all these categories.” - Link

Microsoft CEO Satya Nadella coined a new term, "The Reverse Information Paradox":

As enterprises continue using AI models over time, the information asymmetry becomes increasingly skewed. The seller learns more and more about the buyer through prompts, interactions, and usage, while the buyer learns very little about what the seller is learning in return.

“Models learn from exhaust, the prompts people write, the tools agents use, and especially the corrections people make when the model is wrong. Every correction is distilled into institutional know-how. It’s the kind of knowledge a competitor could never buy, and the kind that leaks almost imperceptibly: trace by trace, correction by correction, eval by eval,”

“In consuming intelligence, you are creating intelligence. And what you create should belong to you.” - 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 go back to basics — but not the way most people mean it. What is swing trading, really? Where did the term come from? And why does nobody agree on a definition?

We trace the idea across a hundred years of market history and lay out seven distinct methods traders have used to identify a swing. There's also something most guides skip: the toolkit changes depending on what you're trading. Stocks let you compare. Commodities and indexes don't. That distinction matters more than the method you pick.

Check out In The Money

Markets Today

Nifty opened with a 162-point gap-up at 24,125, following a cool-off in oil prices and in-line results from TCS, triggering an initial surge in IT stocks. The index built on the strong start, moving quickly toward the 24,200–24,220 zone within the first hour.

However, the momentum moderated after the early rally. Nifty drifted lower throughout the late morning session, slipping toward the 24,150–24,180 range by around 11:30 AM amid profit-booking.

In the second half, the index remained broadly range-bound, oscillating between 24,170 and 24,200 for most of the afternoon. Buying interest returned after 2:30 PM, helping Nifty gradually climb back toward the 24,200–24,220 zone.

The index eventually closed near the day’s highs at 24,206.90. The session was marked by a strong gap-up opening, a brief mid-session cool-off, and steady buying in the second half that helped Nifty hold comfortably above 24,200.

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 14th July:

• The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,200, 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

Indian Bank reported a 10% year-on-year rise in Q1FY27 net profit to ₹3,273 crore, driven by business growth and improved asset quality. Total income increased to ₹20,724 crore from ₹18,721 crore a year earlier, while net interest income rose 16.9% to ₹7,435 crore and domestic net interest margin improved to 3.41% from 3.35%. Dive deeper

ONGC has approved the expansion of India's strategic crude oil reserves by adding 1.75 million tonnes of storage capacity in Mangaluru, Karnataka. The move aims to strengthen the country's energy security and improve resilience against supply disruptions following the Iran war. Dive deeper

Equity mutual fund schemes attracted net inflows of ₹28,973 crore in June, up 26% from the previous month despite volatile markets, according to data from the AMFI. The mutual fund industry’s assets under management rose to ₹82.22 lakh crore from ₹81.6 lakh crore, even as overall net outflows stood at ₹52,949 crore due to ₹1.09 lakh crore of withdrawals from debt-oriented schemes. Dive deeper

Bank of Maharashtra reported a 27% year-on-year rise in Q1 net profit to ₹2,020 crore, supported by higher income and interest earnings. Total income rose to ₹9,063 crore, while asset quality improved, with gross NPAs declining to 1.45% from 1.74% a year earlier. Dive deeper

The government has raised over ₹20,000 crore through seven offer-for-sale (OFS) transactions in just over three months of FY27, marking the highest disinvestment proceeds in four years, according to DIPAM. The stake sales included Central Bank of India, Coal India, NHPC, NLC India, General Insurance Corporation of India, Indian Railway Finance Corporation and Cochin Shipyard. Dive deeper

The World Bank has approved an $890 million financing package for India's rooftop solar programme, including an $820 million loan, a $60 million concessional loan and a $10 million grant. The lender also expects to mobilise around $4.2 billion in private financing through commercial loans to accelerate household rooftop solar installations. Dive deeper

Top Stories Globally

Brent crude held above $76 per barrel and was on track for a weekly gain of nearly 6% as renewed U.S.-Iran hostilities delayed a full recovery in tanker traffic through the Strait of Hormuz. Despite the escalation, Washington and Tehran are reportedly continuing technical discussions toward a longer-term agreement, keeping hopes for a diplomatic resolution alive. Dive deeper

SK Hynix raised about $26.5 billion through its U.S. ADR offering, pricing the issue at $149 per ADR. The offering, priced at a 2.7% premium to the company’s recent Seoul-traded share price, reflects strong investor demand for AI semiconductor supply-chain companies. Dive deeper

China has approved fast-fashion retailer Shein's long-awaited Hong Kong IPO, clearing the way for a listing after its earlier plans to go public in New York and London failed. The approval from the China Securities Regulatory Commission marks a key milestone in Shein's listing process. Dive deeper

Volkswagen reported an 8.6% decline in global deliveries for the second quarter, as a 36.6% drop in China more than offset growth of 7.7% in North America and 1.8% in Western Europe. Dive deeper

Xavier Niel is set to become the largest shareholder in Vodafone Group after UAE telecom operator e& agreed to sell its entire stake in Vodafone for nearly $6 billion. Dive deeper

The European Union has charged Meta Platforms over features on Facebook and Instagram that regulators say breach the bloc's tech rules by encouraging addictive user behaviour. The EU has asked Meta to change features such as autoplay and infinite scroll or face potential fines. 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.

From TCS Q1 FY27 earnings concall:

Management cautioned investors against expecting linear quarterly growth.

“AI revenue is not like traditional ADM revenue. Many of these projects tend to be one- or two-quarter engagements, so some quarters will naturally be lumpy.”

— K. Krithivasan, CEO & MD

AI is materially improving insurance operations

“TCS has deployed seven AI agents operating alongside human examiners. This human-plus-AI operating model has reduced claim settlement time by 40%, resulting in faster and more consistent claim operations.”

— Aarti Subramanian, COO

Management shared a real-world deployment.

“Continuous 24x7 monitoring has shifted from largely human monitoring to AI-led monitoring. The transformation has resulted in 30% faster remediation and 80% fewer incidents.”

— Aarti Subramanian, COO - 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 trace where CAGR and XIRR actually came from — and the answer goes back further than you’d expect.

Most people never question them. I did — and it led me from a Babylonian clay tablet to a forgotten software company in Cambridge, Massachusetts.

• CAGR — 4,000 years of compounding, from ancient livestock loans to your fund fact sheet.

• XIRR — Newton’s unpublished manuscript, a 17th-century priority dispute, and an Excel plugin built in 1993 by a company that disappeared without a trace.

Two metrics. Over a thousand years of mathematics. And a reason why your SIP returns can look completely different from your fund’s CAGR.

Check out In The Money

Markets Today

Nifty opened with a 47-point gap-up at 23,929, signaling a modest recovery after yesterday’s brutal fall. After the positive start, the index moved higher in the opening hour and traded in the 24,040–24,060 range through most of the morning. Despite some intraday volatility, Nifty remained largely range-bound, oscillating between 24,020 and 24,070 until early afternoon.

The second half, especially the final hour, saw profit booking creep in as the index gradually edged lower. Selling intensified sharply after 3 PM, dragging Nifty below the 24,000 mark in a matter of minutes. The index hit an intraday low near 23,925 before recovering in the final few minutes of trade.

Nifty eventually settled at 23,962.80, trimming some late losses but ending well below its intraday highs as volatility remained elevated.

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 14th July:

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

• The maximum Put Open Interest (OI) is observed at 23,600, followed by 23,500, 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

TCS reported a 2.7% quarter-on-quarter decline in net profit to ₹13,349 crore in Q1FY27, impacted by a ₹668 crore exceptional charge for legal settlements. Consolidated revenue rose 2.2% to ₹72,275 crore, while operating income fell 3% to ₹17,317 crore and operating margin contracted to 24% from 25.3%, primarily due to wage hikes. Dive deeper

Shares of Vedanta rose over 4% after the Delhi High Court rejected the Centre’s objections to enforcing a $99 million foreign arbitral award in favour of Vedanta and Singapore-based Ravva Oil. Dive deeper

Shares of Piramal Pharma rose over 2% after the company said the U.S. Food and Drug Administration had successfully closed its inspection of the Sellersville manufacturing facility by issuing an Establishment Inspection Report (EIR), indicating the inspection process has been completed. Dive deeper

The government has waived customs duty on key electronics components used in display modules and wireless charging systems to boost domestic manufacturing. The exemption covers critical inputs such as display cells, backlight units, flexible printed circuit assemblies, NFC coils and NdFeB magnets, benefiting the production of automotive, medical, industrial displays and smartphone wireless charging modules. Dive deeper

The Gujarat government has unveiled its first-ever Data Centre Policy 2026–29, targeting ₹6 lakh crore in investments and 7.5 GW of data centre capacity. Dive deeper

M&M will increase prices across its SUV and commercial vehicle portfolio from July 10, citing higher commodity costs. SUV prices will rise by an average of 2.7%, while commercial vehicle prices will increase by around 2%, with the exact hike varying across models and variants. Dive deeper

Top Stories Globally

Crude oil held near $73.5 per barrel after surging 4.4% in the previous session, its strongest daily gain since May, as markets reassessed the risk of Middle East supply disruptions. Renewed U.S.-Iran hostilities, including fresh U.S. strikes on Iran and retaliatory attacks on American bases, brought the Strait of Hormuz back into focus as a key risk to global energy supplies. Dive deeper

Japan's benchmark 10-year government bond yield climbed to a 30-year high of 2.90%, marking its ninth straight session of gains, as renewed Middle East tensions stoked inflation concerns and investors worried about the country's fiscal health. Dive deeper

China’s producer price inflation rose 4.1% year-on-year in June, its highest since July 2022, adding pressure on manufacturers as weak domestic demand limits pricing power. The data highlights China’s two-speed economy, where AI-led export demand is supporting advanced manufacturing while household spending, investment and property remain weak. Dive deeper

Western Europe recorded its hottest June on record, according to the EU’s Copernicus Climate Change Service, as an extreme late-month heatwave broke temperature records, disrupted power supplies and forced school closures. Globally, June was the second-warmest on record, while sea surface temperatures reached their highest-ever level for the month. Dive deeper

PepsiCo reported second-quarter revenue of $24.18 billion, beating analyst estimates of $23.97 billion and rising 6.4% year-on-year, while adjusted earnings came in slightly below expectations. Organic revenue grew 2.4%, supported by pricing actions and volume gains across its global snacks and beverages businesses, sending the stock up about 1%. 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.

Nilesh Shah, managing director at Kotak Mahindra AMC on oil prices & markets:

I wouldn't call it an overreaction. Whenever there are signs of a settlement, the markets rally. And when fears resurface about how the situation might unfold, markets correct. This back-and-forth is natural. We should expect markets to swing like this because a lot depends on President Trump's actions and statements. Resurfacing of tensions in West Asia is likely to keep markets nervous.

It's difficult to put a range on the market for now. For the time being, the crude oil market/prices will be the key driver of equities. - Link

Chief Economic Adviser Anantha Nageswaran says Global Capability Centres (GCCs) are now a major part of the Indian economy:

“Half of the world’s GCCs are hosted in India; now contribute close to 2% of GDP.”

These roles keep talent in India and give jobs better than the previous generation. “GCCs are cutting edge, not just low-cost support dressed up.”

“Part of the model that GCCs follow has been exposed by AI,” and that simple tasks can be easily replicated. However, India is not headed in that direction.

"AI doesn't build, govern itself; AI doesn't empty this centre; it can raise value. - 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 trace where CAGR and XIRR actually came from — and the answer goes back further than you’d expect.

Most people never question them. I did — and it led me from a Babylonian clay tablet to a forgotten software company in Cambridge, Massachusetts.

• CAGR — 4,000 years of compounding, from ancient livestock loans to your fund fact sheet.

• XIRR — Newton’s unpublished manuscript, a 17th-century priority dispute, and an Excel plugin built in 1993 by a company that disappeared without a trace.

Two metrics. Over a thousand years of mathematics. And a reason why your SIP returns can look completely different from your fund’s CAGR.

Check out In The Money

Markets Today

Nifty opened with a 140-point gap down at 24,260, tracking weak global cues and a flare-up in oil prices following rising tensions around the Strait of Hormuz. After the weak start, the index slipped further in the opening minutes before recovering gradually and trading in the 24,230–24,290 range through most of the first half.

The momentum, however, faded in the second half as markets witnessed a sharp sell-off after Trump said the Iran conflict-ending memorandum of understanding was “over,” reviving fears of Middle East supply disruptions. The index drifted lower until around 1:40 PM, after which a sharp wave of selling dragged Nifty below the 24,000 mark in quick succession.

The decline extended into the final hour, with the index hitting an intraday low near 23,805 before witnessing a modest recovery. Nifty eventually closed at 23,882.05, well below its opening level, as geopolitical concerns and higher crude prices weighed heavily on sentiment.

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 14th July:

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

• The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,600, 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

The Indian rupee fell to its weakest level in nearly a month, declining 0.6% to close at 95.56 against the U.S. dollar after touching an intraday low of 95.60. The decline followed U.S. President Donald Trump's statement that the interim Iran peace accord was "over," triggering a surge in oil prices and putting pressure on Asian currencies. Dive deeper

The SEBI has amended FPI regulations to shift foreign portfolio investors (FPIs) and foreign venture capital investors (FVCIs) to a rupee-denominated fee payment system from the current U.S. dollar-based structure. The new framework will come into effect after six months, giving foreign investors time to transition. Dive deeper

Shares of Inox India rose 3% after the company announced it had secured multiple orders worth ₹939 crore since May 21, 2026. The industrial gas segment accounted for ₹871 crore of the order book, including a major order from the space exploration industry, as well as contracts for vaporizers and storage tanks. Dive deeper

Marksans Pharma will acquire Germany-based pharmaceutical wholesaler and distributor ABCnow GmbH for €892,384 (around ₹10 crore), strengthening its presence in the European pharmaceutical distribution market. Dive deeper

Mercedes-Benz India reported record retail sales for both Q2 and H1 2026, selling 9,768 cars in January–June, up 9% year-on-year. The company also posted its best-ever April–June quarter, with sales rising 10% to 4,637 units, supported by new launches and steady demand across its core and top-end portfolio. Dive deeper

Shares of InterGlobe Aviation, the parent of IndiGo, fell more than 5% after the airline's domestic market share slipped to 64.9% in May, according to data from the Directorate General of Civil Aviation. Sentiment was further weighed down by higher crude oil prices following U.S. airstrikes on Iran and renewed sanctions on Iranian oil, despite domestic passenger traffic rising over 11% month-on-month to 1.53 crore in May. Dive deeper

India's restrictions on silver imports have tightened domestic supplies, driving premiums to a six-month high despite softer demand. Premiums over official domestic prices have risen to $6.5 per ounce, more than 10% above benchmark prices compared with discounts of up to $5.5 per ounce in May. Dive deeper

Top Stories Globally

Oil prices jumped more than 5% to a two-week high after U.S. President Donald Trump said the Iran conflict-ending memorandum of understanding was “over,” reviving fears of Middle East supply disruptions. Brent rose 5.15% to $78 a barrel, while WTI climbed 5.25% to $74.14, their highest levels since June 23. Dive deeper

South Korea’s benchmark Kospi entered bear-market territory after falling more than 20% from its June 22 record close of 9,114.55, plunging another 6% to around 7,247 on Wednesday. The sell-off has raised concerns over the market’s heavy dependence on semiconductor stocks, a risk flagged by the country’s finance minister. Dive deeper

OpenAI has received approval from the U.S. Department of Commerce for the broad launch of its advanced GPT-5.6 model after additional government testing under Washington’s new oversight framework for frontier AI, according to Axios. Dive deeper

Apple plans to invest more than $30 billion under a long-term chip supply agreement with Broadcom through 2031. The deal includes expanding Broadcom's factory in Colorado and supplying FBAR radio-frequency filters, which Apple has been co-developing with Broadcom since at least 2023 to improve wireless connectivity in its devices. 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.

Union Finance Minister Nirmala Sitharaman says that India should aim to manufacture and supply at least a quarter of the global toy market, which is projected to reach $179 billion by 2032:

“Imports of toys, which were earlier concentrated from one country and included a lot of cheap, unsafe products, have declined by 71% between 2019 and 2026,”

“We are still aiming for $5 billion by 2034; I think we are capable of better — at least aim for one quarter of it. Do not stay at $5 billion; that's a big number, but we should aim for higher,” - 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 trace where CAGR and XIRR actually came from — and the answer goes back further than you’d expect.

Most people never question them. I did — and it led me from a Babylonian clay tablet to a forgotten software company in Cambridge, Massachusetts.

• CAGR — 4,000 years of compounding, from ancient livestock loans to your fund fact sheet.

• XIRR — Newton’s unpublished manuscript, a 17th-century priority dispute, and an Excel plugin built in 1993 by a company that disappeared without a trace.

Two metrics. Over a thousand years of mathematics. And a reason why your SIP returns can look completely different from your fund’s CAGR.

Check out In The Money

Markets Today

Nifty opened with a small 34-point gap up at 24,464, following stable global cues. After a brief dip in the opening minutes, the index recovered steadily and climbed through the first hour, crossing the 24,480 mark. Buying momentum continued into late morning, helping Nifty scale an intraday high near 24,530 around noon.

However, profit-booking emerged soon after, dragging the index lower through the afternoon. By around 1:30 PM, Nifty had slipped to the 24,425 zone before attempting a modest recovery, trading in the 24,440–24,465 range for much of the second half.

Selling pressure intensified sharply in the final 30 minutes of trade, with the index breaking below the day’s consolidation range and sliding rapidly toward the close. Nifty eventually settled at 24,398.70, erasing all its intraday gains and ending marginally below its opening level after a late sell-off.

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 14th July:

• The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,400, indicating potential resistance at the 24,500 -24,600 levels.

• The maximum Put Open Interest (OI) is observed at 24,500, followed by 24,000 & 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

The Indian rupee posted its biggest single-day gain in three weeks, rising 0.4% to close at 94.97 per U.S. dollar. The rally was driven by strong dollar selling in the offshore non-deliverable forward (NDF) market, which also forced traders with bearish positions on the rupee to unwind their bets. DIve deeper

Cult.fit has filed draft papers with the Securities and Exchange Board of India for an IPO that could raise up to ₹950 crore through a fresh issue, with the total offering expected to be as large as ₹4,000 crore including an offer for sale. Existing investors such as Temasek Holdings, Tata Digital, Accel, Kalaari Capital, and others plan to sell up to 178.6 million shares through the OFS. Dive deeper

Shares of MCX and BSE extended losses for a fourth straight session as the Reserve Bank of India's revised capital exposure norms, which came into effect on July 1, weighed on trading volumes. Dive deeper

Shares of Info Edge rose nearly 11% after the company reported a 14.4% year-on-year increase in standalone billings to ₹737 crore for Q1FY27. Growth was driven by strong performance in its recruitment business, including Naukri.com, where billings rose 17.5%, while real estate platform 99acres posted 16.6% growth. Dive deeper

Shares of RITES rose 7% after the state-run firm secured a $35.82 million international contract to supply and commission diesel-electric locomotives. The order strengthens RITES' international order book and adds to its growing overseas business pipeline. Dive deeper

Shares of Trent plunged over 10% after the retailer reported a 19% year-on-year increase in standalone revenue for the June quarter, driven by growth in its fashion business and store expansion. However, the results fell short of analyst expectations, triggering a sharp sell-off in the stock. Dive deeper

Top Stories Globally

Samsung Electronics reported a 19-fold jump in second-quarter operating profit, exceeding its combined earnings from the past three years, driven by the AI-led memory chip boom. However, the stock came under pressure, wiping out more than $80 billion in market value, as investors grew concerned that slowing AI infrastructure spending by major U.S. tech companies could weaken future chip demand. Dive deeper

Saudi Arabia cut its August crude prices to Asia by $11 per barrel, the sharpest reduction in 26 years, signalling intensifying competition among oil producers. The cut follows an earlier $6/barrel reduction for July after the Strait of Hormuz reopened, with Arab Light now priced $1.50 below the Oman/Dubai average. Dive deeper

Crude oil rose above $69 per barrel after fresh attacks on commercial shipping around the Strait of Hormuz revived concerns over potential disruptions to global energy supplies. The incident also raised doubts over the durability of the U.S.–Iran agreement, with Iran’s foreign minister warning that final peace talks could stall if geopolitical threats persist. Dive deeper

Nuclear fuel firm Standard Nuclear is targeting a valuation of up to $3.55 billion in its U.S. initial public offering, aiming to raise as much as $383.25 million by offering 18.25 million shares priced between $18 and $21 each. Dive deeper

Shell shares rose over 2% after the company slightly raised its second-quarter production outlook. However, Shell warned that Integrated Gas output would fall sharply from Q1 due to the Middle East conflict’s impact on Qatari volumes. 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.

Santosh Iyer, MD & CEO of Mercedes-Benz India on managing the country’s existing vehicle fleet alongside introducing higher ethanol blends:

There is a lot of anxiety among customers, but in our case there is no reason to worry. Our cars are compliant, our latest products are already E25-ready, and our new vehicles meet the required emission standards.

The bigger question is what happens to the older set of vehicles already on the road. If the government has the aspiration for higher ethanol blending, it should also create a roadmap that allows different fuel grades so customers can choose fuel suited to their vehicles.

We shouldn’t mix up new vehicles with older ones. If a vehicle has been certified to run on E20, it should run on E20 and remain fully covered under warranty. I don’t see any risk with new cars. The questions are more relevant for vehicles sold before the transition because technology differs across manufacturers. Some of the anxiety in the market is also being amplified by fuel adulteration rather than the fuel itself. - Link

Sumit Sadana, Chief Business Officer of Micron Technology on long-term DRAM and NAND bit demand growth, explaining why it is no longer providing multi-year CAGR forecasts

“For the foreseeable future, shipment growth for bits is not really determined by demand anymore. It’s actually determined by supply. Demand is so much above the industry’s ability to supply that supply growth will determine shipment growth far more than demand growth. Our expectation is that supply growth will continue to remain short of what is needed to meet demand, and we don’t really see when supply will be able to catch up.” - 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 trace where CAGR and XIRR actually came from — and the answer goes back further than you'd expect.

Most people never question them. I did — and it led me from a Babylonian clay tablet to a forgotten software company in Cambridge, Massachusetts.

• CAGR — 4,000 years of compounding, from ancient livestock loans to your fund fact sheet.

• XIRR — Newton's unpublished manuscript, a 17th-century priority dispute, and an Excel plugin built in 1993 by a company that disappeared without a trace.

Two metrics. Over a thousand years of mathematics. And a reason why your SIP returns can look completely different from your fund's CAGR.

Check out In The Money

Markets Today

Nifty opened with a small 37-point gap up at 24,307, carrying forward the positive momentum from last week. After a firm start, the index extended its gains through the first hour, steadily climbing toward the 24,400 mark with only brief bouts of pullbacks.

Buying momentum remained intact through the late morning session, helping Nifty cross 24,430 around noon. The index then traded in a narrow range near the day’s highs, oscillating largely between 24,430 and 24,450 till 1:30 PM.

In the second half, the index witnessed mild profit-booking after 1:30 PM, slipping toward the 24,380 mark. However, buyers stepped in once again around 3 PM, lifting Nifty back toward the day’s highs before a small pullback in the closing minutes.

Nifty eventually closed at 24,430.35. The session was marked by a steady uptrend for most of the day, with buyers remaining in control despite intermittent bouts of profit-booking, allowing the index to end comfortably above the 24,400 mark.

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 7th July:

• The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,400, indicating potential resistance at the 24,500 -24,600 levels.

• The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,400 & 24,300, suggesting support at 24,300-24,200.

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

India's demand for alternative-fuel passenger vehicles hit a record in June, with electric, hybrid and CNG models accounting for 40.4% of total retail PV sales, up from about 38% in May as per FADA. The shift followed fuel price hikes, while overall passenger vehicle sales rose 28.6% year-on-year to a record 4.11 lakh units. Dive deeper

Shares of HDFC Bank rose over 3% after the lender reported a 15.4% year-on-year increase in gross advances and a 14.7% rise in period-end deposits for the June quarter. Dive deeper

Oberoi Realty has recorded gross bookings of ₹8,109 crore at its first residential project in the Delhi-NCR region. The company sold 13.52 lakh sq ft of RERA carpet area at Three Sixty North in Gurugram, where luxury apartments are priced from ₹18 crore. Dive deeper

LTIMindtree has launched BlueVerse RightLogic, a cybersecurity assessment and risk assurance framework to help organizations defend against AI-driven cyber threats. The offering is designed to address the growing security challenges arising from the rapid adoption of artificial intelligence. Dive deeper

Delhi topped India's list with a per capita income of $6,217, followed by Karnataka ($5,579), Telangana ($5,407), Tamil Nadu ($5,329), and Gujarat ($4,734), with all five exceeding the World Bank's upper-middle-income threshold. Maharashtra ($4,628), Haryana ($4,627), and Kerala ($4,610) narrowly missed the benchmark. Dive deeper

Raymond Ltd shares were in focus after the company appointed former Bharat Electronics Ltd (BEL) chief Bhanu Prakash Srivastava as the CEO of its defence business. Dive deeper

Top Stories Globally

Crude oil traded below $69 per barrel, hovering near its lowest level since late February, as shipping through the Strait of Hormuz continued to normalize and supply concerns eased. Prices also came under pressure after OPEC+ approved a production quota increase of 188,000 barrels per day for next month, continuing the gradual rollback of earlier output cuts. Dive deeper

Foxconn reported a stronger-than-expected 39.8% year-on-year rise in second-quarter revenue to T$2.51 trillion, driven by robust demand for AI servers and cloud infrastructure. The company's smart consumer electronics business, including assembly of Apple's iPhones, also recorded strong year-on-year growth. Dive deeper

UK new car sales rose 11.4% year-on-year to 213,166 units in June, marking the strongest June performance since 2019. Growth was driven by rising demand for electric vehicles, with battery electric vehicles (BEVs) capturing a record 30% market share this year amid expanding model availability and higher fuel prices. Dive deeper

DAX climbed to a record high of 25,860 on Monday, extending last week's rally as optimism over strong quarterly earnings and lower oil prices lifted investor sentiment in German markets. Dive deeper

Solstice Advanced Materials has agreed to acquire Element Solutions in a cash-and-stock deal valued at about $14.5 billion, including debt. The acquisition, less than a year after Solstice's spin-off from Honeywell International, will create a larger supplier of materials used in semiconductor manufacturing, electronics, and industrial applications. 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.

Anand Mahindra, Chairman of M&M, says that the group and other corporates must stop waiting for global uncertainty to ease and instead accelerate investment and execution:

“Attack Mode is a strategy adopted in Formula E racing, where a racing driver makes a deliberate choice to accelerate at the right moment, in imperfect conditions,” he wrote.

“In ideal conditions, overtaking is difficult, because everyone is already operating at top speed. It is when conditions are rainy or hazy that calculated acceleration can propel you to victory. This is not reactive speed; it is strategic acceleration, backed by preparation and conviction.”

“Uncertainty is no longer the exception; it is the rule. Black swan events have become obsolete because the pond is full of black swans.” - Link

Karan Shah, Whole-Time Director of Precision Camshafts, acknowledged near-term pressure on margins from commodity inflation.

“All raw materials, including steel, aluminium, LPG, cutting tools and oils, have increased over the last two to three months due to the Iran war situation. While customers do compensate us, they don’t fully compensate us immediately, and there can be a time lag between incurring the cost and receiving compensation. So, there will be some margin impact, although we hope this remains a short-term situation.” - 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 flip the question from last time — what happens to a stock when it gets removed from Nifty 50?

We analysed 33 exclusion events between 2015 and 2025. The short trade doesn’t hold up. The contrarian long is interesting but messy. And buried inside the data are two very different types of stocks — fallen angels and fallen knives. Telling them apart is where the real edge lies.

Check out In The Money

Markets Today

Nifty opened with a sharp 200-point gap up at 24,376, continuing its steady upmove despite mixed global cues. The index traded between 24,320 and 24,350 for the large part of the first half after witnessing initial volatility in the first few minutes.

Buying interest resurfaced around noon, helping the index briefly retest the day’s highs near 24,370 before sellers regained control.

In the second half, profit-booking intensified. Nifty drifted lower through the afternoon, slipping below the 24,300 mark by around 1:30 PM and gradually extending losses toward the 24,250-24,260 zone. The index remained under pressure for most of the final hour, with only minor recovery attempts along the way, and eventually ended the day at 24,270.85.

The day was marked by a strong opening, failed attempts to sustain higher levels, and steady second-half selling that erased a large part of the early gains.

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 7th July:

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

• The maximum Put Open Interest (OI) is observed at 24,000, followed by 23,900, 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 services sector expanded at its slowest pace in 17 months in June, with the HSBC Services PMI easing to 57.4 from 59.8 in May as softer domestic demand and weaker client interest weighed on activity. New business growth slowed to its weakest pace in over two-and-a-half years, though the sector continued to remain firmly in expansion territory. Dive deeper

India has allowed four Chinese power equipment manufacturers with local manufacturing facilities TBEA Energy, Nanjing Electric India, New Northeast Electric India, and Taikai Electric (India)- to participate in government tenders for critical power projects, according to a Finance Ministry order dated June 24. Dive deeper

India’s foreign exchange reserves fell by $5.65 billion to $666.93 billion in the week ended June 26, according to the RBI. The decline was driven mainly by a $5.39 billion fall in gold reserves to $102.53 billion, while foreign currency assets, the largest component of reserves, edged down by $150 million. Dive deeper

HCLTech has secured a $1.14 billion, five-year contract from an unnamed European Fortune Global 50 company to build an AI-driven operating model and manage its global digital workplace and enterprise networks. The deal, which runs through December 2031 with an option to extend for another five years. Dive deeper

The U.S. remained India's largest supplier of liquefied petroleum gas (LPG) in June, with imports rising 19.4% month-on-month to 773.8 thousand metric tonnes, ahead of traditional Gulf suppliers. India's total LPG imports increased 3% to 1,191 TMT, supported by supply diversification and long-term procurement agreements with U.S. producers. Dive deeper

Shares of PB Fintech fell 5% after a unit of Temasek Holdings reportedly sold a 2.37% stake through a block deal worth up to ₹1,740 crore. The transaction was priced at ₹1,601 per share, nearly 5% below the previous day's closing price. Dive deeper

Shares of Sumitomo Chemical India rallied around 14%, on track for their biggest single-day gain since September 2024. The surge followed news that parent company Sumitomo Chemical’s Korean subsidiary, Dongwoo Fine-Chem, signed a JV agreement with Samsung Electro-Mechanics for glass core substrates used in advanced semiconductor packaging. Dive deeper

Top Stories Globally

Brent crude traded around $72 a barrel in thin trading, hovering near pre-conflict levels as shipping through the Strait of Hormuz continued to recover amid progress in U.S.–Iran peace talks. Improved supply from key producers also weighed on prices, with Saudi Arabia restoring crude exports to about 90% of pre-war levels alongside a strong rebound in UAE shipments. Dive deeper

Microsoft has launched a new operating entity, Microsoft Frontier Company, with $2.5 billion in funding to help enterprises choose and deploy AI technologies that deliver measurable business returns. The initiative will initially work with clients including Unilever and Novo Nordisk, reflecting a growing trend of businesses adopting a mix of proprietary and open-source AI models rather than relying on a single provider. Dive deeper

Gold rose toward $4,200 an ounce, extending gains as weaker-than-expected U.S. jobs data reduced expectations of further Federal Reserve rate hikes. The U.S. added just 57,000 jobs in June, well below forecasts, boosting demand for the non-yielding precious metal. Dive deeper

Europe’s benchmark STOXX Europe 600 Index traded near a record high and was on track for its best weekly performance in over a month, supported by gains in cyclical stocks. Investors looked past expectations of a near-term U.S. rate hike, with the index rising 0.2% after touching an all-time high earlier in the session. 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.

Manish Tiwary, Chairman and MD of Nestle India, on consumption & demand:

“FY26 was not a straightforward year for India’s consumption economy. Food inflation shaped household choices in ways that went far beyond price; families reconsidered pack sizes, purchase frequencies, and category priorities.”

“Although rural demand improved, it remained dependent on monsoon outcomes and farm incomes. Meanwhile, urban demand held up, but remained uneven across income segments. Globally, energy costs, freight disruptions, and geopolitical uncertainty continued to move input costs in ways that required constant attention.”

“Over the next several years, we are making deliberate, thought-through bets: first on expanding presence in tier ii and tier iii towns, where consumption is rising faster than in metros, by building a portfolio available across multiple price points, premiumising, and ensuring accessibility through technology”

“There will be quarters that test us. There will be bets that don’t pay off immediately, but that is the nature of building something that lasts,” - Link

Mark Zuckerberg, CEO of Meta, acknowledged shortcomings ‌in the company's sweeping restructuring:

The "trajectory of the agentic development over at least the last four months hasn't really accelerated in the way that we expected," and the company's bets on the new structure "haven't come to fruition yet." - 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 flip the question from last time — what happens to a stock when it gets removed from Nifty 50?

We analysed 33 exclusion events between 2015 and 2025. The short trade doesn’t hold up. The contrarian long is interesting but messy. And buried inside the data are two very different types of stocks — fallen angels and fallen knives. Telling them apart is where the real edge lies.

Check out In The Money

Markets Today

Nifty opened with a 56-point gap up at 24,062, led by a strong recovery in IT stocks despite lacklustre global cues. After a firm start, the index climbed toward the 24,150 mark within the first hour before witnessing profit-booking that dragged it back to around 24,075 after 10 AM.

The index then traded with a positive bias through the late morning session. After a brief dip around 11:30 AM, buying resumed, helping Nifty steadily recover and reclaim the 24,120–24,140 zone by noon.

In the second half, momentum strengthened further. Nifty gradually moved higher through the afternoon, crossing 24,150 around 2:30 PM before extending gains to the day’s high near 24,190 shortly before 3 PM.

Some mild profit-booking emerged in the final few minutes, trimming a part of the gains. However, Nifty comfortably held above the 24,150 mark and closed the day at 24,175.70.

The session was marked by a strong opening, steady buying through most of the day, and a late push to fresh intraday highs, with only minor profit-booking into the 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 7th July:

• The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,200, 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

Shares of Bank of Baroda fell 4% after its Abu Dhabi arm paid $600 million (around ₹5,700 crore) to settle a legal dispute with NMC Health over the insolvency of NMC entities. The settlement resolves all claims between the parties without any admission of liability or wrongdoing. Dive deeper

PM Modi will formally inaugurate commercial production at CG Semi's semiconductor packaging facility in Sanand on July 4. The company has already begun exporting assembled chips to Malaysia, marking a key milestone in India's efforts to build a domestic semiconductor manufacturing ecosystem. Dive deeper

Adani Enterprises has formed a joint venture with Abu Dhabi-based International Resources Holding to develop a $11.5 billion integrated aluminium plant in Odisha. Dive deeper

Shares of Balaji Amines jumped nearly 6% after investors welcomed the prospect of anti-dumping duties on ethylene diamine imports from China, the European Union, Saudi Arabia, and Taiwan. Dive deeper

Adar Poonawalla Family Office, through Rising Sun Holdings, has invested ₹700 crore in Inox Clean Energy for a 1% stake. The investment will support Inox Clean’s expansion across renewable power generation and solar manufacturing. Dive deeper

Top Stories Globally

Crude oil prices fell around 2% to nearly $67 per barrel, extending losses for a third straight session to pre-conflict levels. Prices eased as oil shipments through the Strait of Hormuz recovered, with the UAE restoring exports to over 3.9 million barrels per day, boosting overall supply. Dive deeper

OpenAI is reportedly discussing a proposal to give the U.S. government a 5% stake, as AI firms face scrutiny from the Trump administration over advanced model misuse and profit-sharing. The proposal may extend to other U.S. AI companies, though it remains unclear whether they would agree. Dive deeper

The U.S. economy added 57,000 jobs in June, well below the revised 129,000 gain in May and forecasts of 110,000. The print marks the weakest job growth in four months, though it remains above the prior 12-month average of 36,000. Dive deeper

South Korea's benchmark KOSPI plunged 7.9% to its lowest level in more than three weeks as a global selloff in AI-linked semiconductor stocks weighed on market sentiment. Heavyweight chipmakers led the decline after overnight losses in U.S. technology stocks sparked concerns over the sustainability of AI spending. Dive deeper

Tesla's China-made EV sales rose for the eighth straight month in June, with Model 3 and Model Y deliveries from its Shanghai plant up 24.4% YoY to 89,091 units. The growth was supported by a continued recovery in Tesla's European sales, where the Shanghai facility serves as a key export hub. 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.

Alex Karp, Co-founder and CEO of Palantir on token-based business models of OpenAI and Anthropic “Insane”:

“And the basic view among enterprises in this country is, ‘I’m going to chillax and waste my time with tokens. I’m going to get no value, and they’re going to get my IP (Intellectual Property)’’

“Every single enterprise I deal with... these people are livid. They’re like, ‘I am paying for tokens that create no value. These people are stealing the weights and alpha of my business.‘‘ - Link

Federal Reserve Chairman Kevin Warsh on Inflation and AI:

“Inflation risks have come down; energy prices have come down quite substantially”

“They’re still a bit above where they were pre-conflict, but they’ve come down”

“We’re all being hit by a series of shocks in the U.S. The AI shock is leading to a boom in capital expenditures. We see that first and foremost in demand, but I’m confident we’re going to see it in supply at some point. So we’re spending most of our time trying to monitor those developments.” - Link

Kamal Gianchandani, President, Multiplex Association of India on 21% surge in Indian box office collections in H1 2026:

“This was due to growth in footfalls and an increase in ticket prices. Consumers are coming back to cinemas more often. The first half of 2026 has demonstrated the resilience and enduring appeal of the theatrical business.” - 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 flip the question from last time — what happens to a stock when it gets removed from Nifty 50?

We analysed 33 exclusion events between 2015 and 2025. The short trade doesn't hold up. The contrarian long is interesting but messy. And buried inside the data are two very different types of stocks — fallen angels and fallen knives. Telling them apart is where the real edge lies.

Check out In The Money

Markets Today

Nifty opened the July series with a 32-point gap up at 23,897 despite weakness in IT stocks, tracking stable global cues. After a muted start, the index climbed steadily through the first hour, reclaiming the 24,000 mark around 10:15 AM before witnessing a brief bout of profit-booking that pulled it back toward the 23,950 zone.

Buying resumed through the late morning session, helping Nifty recover quickly and trade above 24,000. The index remained firm around the 24,000–24,040 range through noon, with intermittent volatility but no major directional move. Selling pressure emerged in the final hour, dragging the index gradually lower.

Despite the late weakness, Nifty managed to hold above 24,000 and closed the day at 24,005.85. The session was marked by a steady morning recovery, range-bound trade through most of the afternoon, and mild profit-booking into the 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 7th July:

• The maximum Call Open Interest (OI) is observed at 24,000, 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 23,900, 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

India's manufacturing activity slowed in June, with the HSBC Manufacturing PMI easing to 54.2 from 55 in May as softer domestic and export demand weighed on growth. Output and new orders expanded at their slowest pace in four years (excluding March), while export orders grew at the weakest rate since March 2023 amid weaker demand from Europe. Dive deeper

India’s gross GST collections rose 13.9% YoY to ₹1.95 lakh crore in June 2026, while net collections after refunds grew 11.2% to ₹1.62 lakh crore. The growth was led by a 34.6% surge in IGST on imports, even as domestic gross revenues grew at a slower 6.5%. Dive deeper

India's power consumption rose 11.6% year-on-year to 166.46 billion units in June, driven by heatwave conditions and the delayed onset of the monsoon, which boosted demand for cooling appliances such as air conditioners. Dive deeper

The U.S. Treasury's OFAC has removed four Indian companies, RRG Engineering Technologies, Lokesh Machines, Galaxy Bearings, and Shaurya Aeronautics from its Russia-related sanctions list. Dive deeper

Nayara Energy has cut petrol prices by ₹5 per litre and diesel prices by ₹3 per litre across its 7,086 retail outlets from Wednesday. The move marks the first fuel price reduction by a private oil marketing company since the West Asia conflict began in February 2026. Dive deeper

Shares of KPIT Technologies plunged as much as 16% after the company warned of its first quarterly revenue decline in nearly six years, citing client-driven project actions. It also indicated that Q2 FY27 revenue is likely to remain broadly in line with Q1, signalling continued weakness in the first half of the fiscal year. Dive deeper

Ashok Leyland has launched India's first range of trucks with air suspension, introducing the AVTR 4925 10x2 MAV, AVTR 4625 10x2 MAV, and AVTR 4525 8x2 MAV. The new models offer higher payload capacity and are aimed at improving efficiency and driver comfort in heavy commercial transport. Dive deeper

Eicher Motors said its motorcycle brand Royal Enfield reported a 27% year-on-year rise in June sales to 1.14 lakh units, driven by a 34% increase in domestic sales to 1.02 lakh units. However, exports declined 12% year-on-year to 11,102 units. Dive deeper

UPI transactions moderated in June after hitting a record high in May, with transaction value declining to ₹28.9 lakh crore from ₹29.9 lakh crore. Transaction volumes also eased to 22.72 billion in June from 23.2 billion in the previous month, according to NPCI data. Dive deeper

Top Stories Globally

Crude oil fell below $69 per barrel, its lowest level since late February, as progress in U.S.–Iran peace talks and improving shipping through the Strait of Hormuz boosted supply expectations. Markets were also encouraged by constructive negotiations in Qatar, where U.S. and Iranian officials continued technical discussions aimed at easing tensions in the region. Dive deeper

Indonesia has implemented its 50% biodiesel blending mandate (B50), raising the required palm oil-based diesel blend from 40% to 50% as part of its push for energy independence. However, lower crude oil prices and elevated palm oil prices are expected to pose challenges to the programme's economic viability. Dive deeper

Kroger will acquire food and pharmacy retailer Giant Eagle in a $1.65 billion deal to expand its retail footprint. The transaction reflects continued consolidation in the consumer goods sector as companies adapt to inflation, changing consumer preferences, and intensifying competition. Dive deeper

Anthropic said the U.S. Commerce Department has lifted export controls on its advanced Fable and Mythos AI models, less than three weeks after access was suspended over national security concerns. Dive deeper

Klarna Group shares rose 6% after its subsidiary PriceRunner won $1.97 billion in antitrust damages against Alphabet. A Swedish court ruled that Google unfairly favored its own comparison-shopping service in search results, hurting independent rivals. Dive deeper

Eurozone inflation eased more than expected to 2.8% in June from 3.2% in May, coming in below forecasts of 3.0%. The slowdown in food, energy, and services inflation reduced pressure on the European Central Bank to raise interest rates further this 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.

Srivats Ram, Chairman and MD of Wheels India was positive of the growth in the component business catering to the wind mill industry in FY27:

“We are likely to see growth both in India and overseas markets. In addition, we continue to invest in and grow the business of machining of large castings for this sector,”

We are looking to ramp up machining of large castings. The cast aluminum business is on a low base currently and we have been able to get new businesses from a number of Indian OEMs. We should be able to ramp up this business this year.” - Link

Sandeep Kalra, CEO of Persistent Systems on its latest acquistion & growth prospects:

We have also just won a $650 million mega deal with a US tech firm. In an environment where people are struggling to grow, that basically should signal to the intelligent people that our growth is here to stay.

You don’t work for the stock movements. You work to build a company that is built to last. You have to be right in terms of building the company, capabilities, and have a forward-looking play. In the last 24 quarters, we have delivered 3% plus sequential growth every quarter, and then a new large deal. - 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!