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're building directly on our earlier episode on the 9: 20 straddle — and taking it further. This time, we're focused on Sensex 0DTE options.

Does the edge from the 9:20 straddle on Nifty translate to Sensex? And more importantly, is there a smarter framework for 0DTE — one that goes beyond replicating a single structure on a new index? Why the math works differently for straddles versus strangles, and what the data actually says about concentrating versus diversifying your 0DTE trades.

We also discuss whether the edge in 0DTE is eroding — and where it might still exist for disciplined, systematic traders.

Check out In The Money

Markets Today

Nifty opened with a 251-point gap-up at 23,413, following reports of the US and Iran moving closer to a peace deal, which lifted global markets and pushed crude oil prices below $88 per barrel. However, after the strong opening, the index gradually drifted lower through the morning session, slipping toward the 23,330–23,350 zone by around 10 AM.

The market remained range-bound for most of the first half, oscillating between 23,330 and 23,380 as traders digested the sharp overnight gains. Nifty briefly tested the 23,310–23,320 zone around 12:30 PM, marking the day’s low.

A strong recovery emerged around 1:30 PM after reports suggested that Iran has confirmed considerable progress in peace talks, helping Nifty reclaim the 23,450 mark and extend gains steadily through the afternoon. The rally gathered pace in the final two hours, with the index crossing 23,550 and then 23,600 as broad-based buying returned. Nifty eventually closed near the day’s high at 23,622.90.

The session was marked by an initial phase of consolidation after a gap-up opening, followed by a strong second-half rally that pushed the index to fresh intraday highs and ensured a strong 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 16th June:

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

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

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 rose to 3.93% in May from 3.48% in April, driven primarily by higher food prices, with food inflation increasing to 4.78%. Rural areas witnessed stronger price pressures, with rural CPI inflation at 4.25% compared with 3.53% in urban areas, according to data from the Ministry of Statistics and Programme Implementation. Dive deeper

India’s foreign exchange reserves declined by $711 million to $681.6 billion in the week ended June 5, reversing part of the previous week’s $938 million increase. The fall was primarily driven by a reduction in foreign currency assets, which form the largest component of the country’s forex reserves. Dive deeper

Tata Motors Passenger Vehicles will raise prices of its passenger vehicle portfolio, including both ICE and electric vehicles, by up to 1.5% from July 1. The company said the increase is aimed at partially offsetting rising input costs and inflationary pressures stemming from supply-chain disruptions linked to the ongoing West Asia conflict. Dive deeper

India’s Finance Ministry has waived customs duties on all goods imported for nuclear power generation, including retrospective relief for eligible imports made between April 2019 and January 2026. The move is expected to reduce project costs for nuclear power operators and equipment suppliers. Dive deeper

Bank credit growth accelerated to 17.4% as of May 31, the fastest pace in nearly two years, driven by stronger loan demand as rising bond yields pushed corporates toward bank financing. Deposit growth remained comparatively weaker at 12.1%, highlighting the continued gap between credit and deposit expansion in the banking system. Dive deeper

Hitachi Energy India will invest around ₹2,000 crore to establish a large power transformer manufacturing facility in Karjan, Vadodara, one of the largest investments in India’s power equipment sector. The plant, expected to be operational by FY28, will cater to high-voltage transmission projects, HVDC networks, AI data centres, power generation facilities, and industrial applications. Dive deeper

IFCI shares hit the 20% upper circuit and a fresh 52-week high amid reports that National Stock Exchange could file its DRHP next week. Investor interest was driven by IFCI’s indirect exposure to NSE through its 52% stake in Stock Holding Corporation of India, which owns 4.4% of NSE. Dive deeper

Top Stories Globally

Brent crude oil fell more than 4% to below $86.5 per barrel, its lowest level since early March, as optimism grew over a potential US-Iran peace agreement that could ease supply disruptions. Reports that a draft deal includes lifting oil sanctions on Iran and reopening the Strait of Hormuz within 30 days raised expectations of improved global oil flows and reduced geopolitical risk. Dive deeper

United Kingdom’s economy contracted 0.1% month-on-month in April 2026, reversing the 0.3% growth recorded in March and marking the first decline since August 2025. The slowdown was driven by a 0.2% fall in services output. Dive deeper

Hong Kong’s manufacturing production grew 3.1% YoY in Q1 2026, slowing from a revised 5.8% expansion in the previous quarter and marking the weakest growth since Q2 2025. The moderation was driven by slower output growth across key segments, including food, beverages and tobacco, electronics and machinery, and other manufacturing industries. Dive deeper

Opendoor has begun winding down its India operations and is laying off all 250 employees in the country. The move is part of the company’s strategy to relocate operational roles closer to its core US market and streamline operations. Dive deeper

Warburg Pincus is set to launch a tender offer to acquire J.S.B. in a deal valued at over $1 billion. The proposed acquisition highlights continued private equity interest in Japan’s residential and student housing sector. Dive deeper

Management Chatter

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

Carl Pei, CEO of Nothing, on Smartphones getting expensive:

Memory is now the most expensive component in a smartphone. It's more expensive than the processor, more expensive than the display, and can account for more than 50% of the total hardware bill.

Phone prices are going up, and they'll keep going up into next year. Since February, new phones have been launching up to $100 more expensive than their predecessors. In India, phones above ₹30K have seen price jumps of ₹7,000 or more.

The natural instinct is to buy ahead. It doesn't work that way. In a shortage, memory is allocated, not bought. You get what you're given, at the current price. If you've been waiting to upgrade a device, the best time was yesterday. The next best time is now. This year's sale season won't have the discounts people are used to. - 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, Sandeep shares the eight books that actually changed how he looks at markets - not books that give you setups and entry points, but books that give us a way of seeing.

Most trading books promise a map. But a strategy is a response — to a specific market, a specific moment, a specific psychology. What transfers instead is a lens. Over years of reading, He arrived at eight books across three themes that genuinely shaped how he thinks about markets, risk, and the craft of getting better.

Check out In The Money

Markets Today

Nifty opened with an 111-point gap down at 23,104, tracking weak global cues. After a soft start, the index remained volatile in the opening hour, oscillating around the 23,100–23,150 zone before gradually gaining strength.

Buying interest picked up through the late morning session, helping Nifty reclaim the 23,200 mark by around 10:30 AM. The recovery gathered pace thereafter, with the index steadily moving higher and crossing 23,250 before noon, and with the momentum remaining strong, Nifty extended gains toward the 23,300–23,320 zone around 1 PM, marking the day’s high. However, the rally failed to sustain as profit-booking emerged at higher levels.

In the second half, the index gradually gave up its gains, drifting lower through the afternoon. Selling pressure intensified in the final hour, dragging Nifty toward the 23,140–23,150 zone before eventually closing the day at 23,161.60.

The session was marked by a sharp recovery from a weak opening, followed by steady profit-booking that erased most of the intraday 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 16th June:

• The maximum Call Open Interest (OI) is observed at 23,500, followed by 23,200, indicating potential resistance at the 23,300 -23,400 levels.

• The maximum Put Open Interest (OI) is observed at 23,000, followed by 23,200, suggesting support at 23,000-22,900.

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

The Indian rupee weakened to around 95.76 against the US dollar, nearly erasing gains from the RBI’s recent measures to attract foreign capital. The decline was driven by persistent dollar demand from oil companies, weaker Asian currencies, and routine mid-month outflows that kept pressure on the domestic currency. Dive deeper

Shipping and Waterways Minister Sarbananda Sonowal confirmed that all three Indian seafarers missing after a US military strike on the Palau-flagged tanker MT Settebello have been found dead. The US military said the vessel was targeted in a “precision” strike after allegedly failing to comply with instructions and transporting Iranian oil. Dive deeper

TCS has entered into a global strategic partnership with Anthropic to accelerate enterprise AI adoption. As part of the collaboration, TCS will create a dedicated AI business unit and provide access to Anthropic’s Claude models to 50,000 employees across functions, helping enhance internal operations and develop AI-driven solutions for clients. Dive deeper

Infosys has entered into a multi-year strategic partnership with IHH Healthcare to drive an enterprise-wide ERP transformation programme. The collaboration will standardise business processes across key markets, including Hong Kong, Malaysia, and Singapore, while integrating AI capabilities through Infosys Topaz to improve efficiency, scalability, cost optimisation, and regulatory compliance. Dive deeper

Sugar stocks were in focus after the government extended excise duty exemptions on petrol blended with higher levels of ethanol. The move is expected to support ethanol demand and improve revenue visibility for sugar companies, while also facilitating the rollout of fuel blends beyond the current E20 standard. Dive deeper

Oil India and Petroleum Technology Research Centre have signed a collaboration framework to jointly explore carbon capture, geothermal energy, and other clean-energy technologies. The partnership aims to strengthen India-Canada cooperation on energy transition and sustainability initiatives. Dive deeper

India is set to import urea at significantly lower prices, with recent bids for a 1.7 million tonne tender ranging between $444 and $605 per tonne, compared with $959 per tonne paid earlier during the West Asia crisis. The decline reflects easing global urea prices, helped by deferred purchases from importing nations, increased use of alternative fertilisers, and improved supply after China eased fertiliser export restrictions. Dive deeper

Asus plans to increase local production of laptops in India to 20–30% of its domestic demand in the current financial year, up from 10% currently. The company also intends to begin manufacturing gaming laptops in India, reflecting its broader push to expand local sourcing and production capabilities. Dive deeper

Top Stories Globally

Crude oil rebounded to $90.8 per barrel after declining earlier in the session, following comments from US President Donald Trump that the US would strike Iran hard tonight. Trump also said that the US would soon take control of Iran’s “oil infrastructure points,” including Kharg Island, expected “in the not too distant future.” Dive deeper

The European Central Bank raised its rate to 2.25% from 2.0%, marking its first interest rate hike in nearly three years. The move reflects growing concerns over inflationary pressures linked to the Iran conflict, with markets now anticipating another 25-basis-point increase in September. Dive deeper

U.S. producer prices rose more than expected in May, with the Producer Price Index (PPI) increasing 6.5% YoY, its fastest pace since November 2022. Higher energy costs linked to the Middle East conflict were the main driver, with goods prices rising 2.8% and accounting for nearly 80% of the increase, reinforcing concerns about persistent inflationary pressures. Dive deeper

SpaceX’s IPO has reportedly attracted demand for more than four times the shares on offer ahead of pricing. The company plans to raise about $75 billion by offering 555.6 million shares at $135 each, implying a valuation of roughly $1.8 trillion, making it one of the largest public offerings in history. Dive deeper

Islamic Revolutionary Guard Corps said the Strait of Hormuz has been declared closed to all vessels following fresh US strikes on Iran, according to reports. The warning raises concerns over potential disruptions to global energy supplies, as the Strait of Hormuz is one of the world's most critical oil and LNG shipping routes. Dive deeper

Management Chatter

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

Scott Wang, Vice-President, Asia Pacific of World Trade Centers Association on India signing FTAs:

One advantage India has is its geopolitical position. It gets along with major trading blocs — the United States, Europe and increasingly China as well. India has also concluded important agreements, including one with the EU, and it recently reached a trade framework agreement with the United States.

But FTAs come with a lot of technicalities — compliance requirements, standards, market-access rules and thresholds. There is a lot we can do, and are already doing, to help SMEs leverage these agreements. - 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, Sandeep shares the eight books that actually changed how he looks at markets - not books that give you setups and entry points, but books that give us a way of seeing.

Most trading books promise a map. But a strategy is a response — to a specific market, a specific moment, a specific psychology. What transfers instead is a lens. Over years of reading, He arrived at eight books across three themes that genuinely shaped how he thinks about markets, risk, and the craft of getting better.

Check out In The Money

Markets Today

Nifty opened flat at 23,234 despite weak global cues, including volatile US markets and escalating tensions in the Middle East, indicating relative resilience in early trade. The index moved higher in the opening hour, climbing toward the 23,370–23,380 zone.

Buying interest remained strong through late morning trade despite a few dips in between, with Nifty gradually extending gains and testing the 23,420–23,425 zone around 1 PM, marking the day’s high.

However, the momentum faded after 1:30 PM as the index drifted lower and slipped below 23,350 by around 2 PM. Selling pressure intensified further in the final hour, dragging Nifty sharply lower toward the 23,200 mark and eventually closing at 23,214.95, near the day’s low. The session was marked by a strong first half followed by a sharp late sell-off that erased all intraday 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 16th June:

• The maximum Call Open Interest (OI) is observed at 23,500, followed by 23,400, indicating potential resistance at the 23,400 -23,500 levels.

• The maximum Put Open Interest (OI) is observed at 23,200, followed by 23,000, suggesting support at 23,000-22,900.

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

Meta Platforms has partnered with Reliance Industries to develop its first AI-powered data centre in India, a 168-megawatt facility in Jamnagar. Meta will lease the centre and bear the full energy and water costs, while the two companies’ existing joint venture will use the infrastructure to build AI platforms and tools for Indian enterprises. Dive deeper

Indian government bond yields have fallen sharply over the past four days, with the benchmark 10-year yield declining about 11 basis points to 6.91% from 7.02% on June 3. The rally was driven by stronger foreign portfolio inflows following the government’s tax exemptions on interest income and capital gains from investments in government securities. Dive deeper

Zoho has launched Nathu La, its indigenously designed server, as part of its push to build a complete enterprise technology stack and strengthen technological self-reliance in data hardware. The company claims the server delivers comparable performance with 12–18% lower power consumption and 20–30% lower total cost of ownership. Dive deeper

Gold ETFs recorded net outflows of ₹725 crore in May, ending a 13-month streak of positive inflows and marking the first monthly withdrawal since April 2025. The outflows were attributed to government appeals against excessive gold purchases and several asset management companies temporarily restricting fresh investments, although Gold ETFs have still attracted over ₹70,000 crore since May 2025. Dive deeper

Ashwini Vaishnaw announced Cabinet approval for three infrastructure projects with a total investment of ₹4,703 crore. The projects include the extension of Ahmedabad Metro Phase 2A to the airport, along with the construction of a Central Government office complex and a residential complex in Amaravati. Dive deeper

According to data from the AMFI, actively managed equity mutual funds saw net inflows of ₹22,908 crore in May, the lowest monthly inflow of 2026. The figure represents a sharp 40.4% decline from April’s ₹38,440 crore, indicating some moderation in investor participation after several months of strong inflows. Dive deeper

Top Stories Globally

Crude oil rose 2% to around $90 per barrel as markets reacted to reports of Iranian attacks on Gulf nations and comments from US President Donald Trump indicating that military action against Iran remained a possibility, adding a geopolitical risk premium to oil prices. Dive deeper

U.S. consumer inflation accelerated to 4.2% in May, the highest level in three years, driven by higher gasoline and energy prices amid the Middle East conflict. The stronger-than-expected inflation reading has reinforced expectations that the Federal Reserve may keep interest rates elevated for longer, with CPI rising 0.5% month-on-month after a 0.6% increase in April. Dive deeper

Gold prices extended their decline toward $4,150 per ounce, hitting their lowest levels since late 2025, as hotter U.S. inflation data reinforced expectations that the Federal Reserve will keep interest rates higher for longer. Dive deeper

Anthropic is broadly releasing Fable 5, a version of its Mythos AI model equipped with safeguards that block certain cybersecurity and biology-related tasks. For such queries, its Claude assistant will instead route responses through the Opus 4.8 model, while Anthropic is also launching Mythos 5, a version of the model with fewer restrictions. Dive deeper

Cognizant has generated around $200 million in incremental sales opportunities using an internal AI-driven system called “context engineering,” which analyzes employee emails, meetings, chats, and other interactions. Dive deeper

Management Chatter

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

Baba Kalyani, Chairman of Bharat Forge, on entering the semiconductor business and defence sector opportunities:

Bharat Forge is working on a new semiconductor project and is collaborating with several companies to manufacture parts for lithography machines, a critical component of chipmaking equipment.

“We have seen the biggest reform in the defence sector. Defence used to be at the component level earlier, and now it’s a platform for us; we are expecting a big surge in the Indian defence sector over the next 5 years.” - Link

N Chandrasekaran, Chairman of Tata Consumer Products Ltd (TCPL) on the company’s growth and margins:

"I think the way to look at the Tata Consumer products is we are building this business over a medium to long term, and this company was only a beverage company and predominantly focused on tea and a little bit on coffee and very small on water. Now, this has gained the status of truly a food products and beverages and FMCG company, and we are adding to the portfolio,"

"There are a lot of questions on EBITDA margins, how we will maintain them, what the trajectory will be, and why our margins are lower than some of the competition. The way to look at it is that margins have been improving sequentially."

"In a tough year, when there are supply chain issues and commodity price increases, especially in categories where we have significant exposure like tea, it does impact margins," - 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, Sandeep shares the eight books that actually changed how he looks at markets - not books that give you setups and entry points, but books that give us a way of seeing.

Most trading books promise a map. But a strategy is a response — to a specific market, a specific moment, a specific psychology. What transfers instead is a lens. Over years of reading, He arrived at eight books across three themes that genuinely shaped how he thinks about markets, risk, and the craft of getting better.

Check out In The Money

Markets Today

Nifty opened with a gap up of 136 points at 23,259, tracking positive global cues and a sharp decline in crude oil prices to around $92 per barrel. Despite the strong start, the index failed to hold on to early gains and drifted lower through the opening hour, slipping toward the 23,150–23,170 zone.

Selling pressure persisted through the late morning session, dragging Nifty to the day’s low near the 23,100- 23,110 range around 11:30 AM. However, the index found support at lower levels and staged a steady recovery heading into noon, reclaiming the 23,200 zone.

In the second half, the index remained in a range between 23,175 and 23,225 till 2:30 PM. The recovery gathered pace in the final hour, with the index climbing toward the 23,250–23,280 range and testing the day’s high near 23,280 around 3 PM.

The index remained firm in the final hour despite some volatility and eventually closed at 23,242.10. The session was marked by an early sell-off followed by a broad-based recovery, helping Nifty erase most of the intraday losses and end the day on a strong note.

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 16th June:

• The maximum Call Open Interest (OI) is observed at 23,500, followed by 23,200, indicating potential resistance at the 23,400 -23,500 levels.

• The maximum Put Open Interest (OI) is observed at 23,200, followed by 23,000, suggesting support at 23,000-22,900.

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

The RBI has introduced measures to attract foreign capital by absorbing the forex risk on FCNR(B) deposits, allowing banks to offer more attractive returns to NRIs. The RBI has also exempted select FCNR(B) deposits from CRR and SLR requirements and encouraged state-owned entities to tap overseas borrowing markets, helping improve foreign exchange liquidity and reduce funding costs. Dive deeper

India’s fuel consumption rose to 19.93 million metric tonnes in May from 19.47 million tonnes in April, according to data from the Petroleum Planning and Analysis Cell. However, overall fuel demand was down 6.5% YoY, while LPG consumption declined sharply by about 20% to 2.13 million tonnes compared with the same period last year. Dive deeper

FPIs invested ₹8,795 crore in government securities under the Fully Accessible Route (FAR) after the government exempted interest income and capital gains from tax on these bonds. As a result, FPI holdings in FAR securities rose to ₹3.32 lakh crore from ₹3.23 lakh crore within a week, reflecting stronger foreign interest in India’s bond market. Dive deeper

Zepto reported a 75% YoY jump in Q4 revenue to ₹7,498 crore while narrowing its quarterly loss to ₹1,539 crore. For FY26, revenue more than doubled to ₹22,624 crore, although the annual loss widened to ₹5,905 crore, driven by aggressive expansion that took its dark store count to 1,139 and annual transacting users to 4.79 crore. Dive deeper

NLC India shares fell over 2% after the government announced an Offer for Sale (OFS) to divest up to a 3% stake in the Navratna PSU. The stake sale is expected to raise around ₹1,263 crore for the government. Dive deeper

Rajiv Bajaj will step down from the board of Bajaj Finserv after deciding not to seek re-election at the company's AGM on July 31. The move is aimed at reducing external commitments and allowing him to focus on his expanding responsibilities at Bajaj Auto. Dive deeper

Fitch Ratings has cut India’s FY27 GDP growth forecast to 6.4% from 6.7%, citing the economic impact of the US-Iran conflict and rising inflation. The agency expects higher prices to weigh on consumer spending, although domestic demand and continued capital expenditure are likely to remain key growth drivers. Dive deeper

Adani Energy Solutions has signed a binding agreement to acquire 100% of IntelliSmart Infrastructure for ₹3,050 crore. The deal will add over 2.2 crore smart meters to its portfolio, taking its total installed and contracted smart meter base beyond 4.7 crore and making it India’s largest smart metering platform. Dive deeper

Top Stories Globally

WTI crude oil fell below $90 per barrel after giving up most of the previous session’s gains, as Iran and Israel agreed to halt attacks on each other, raising hopes of renewed peace negotiations and easing concerns over potential supply disruptions in the Middle East. The de-escalation reduced the geopolitical risk premium in oil markets, though investors remain cautious about the durability of the truce. Dive deeper

Intel shares surged 10% after reports that Google and Nvidia are evaluating Intel as an alternative chip manufacturing partner. Google has reportedly placed an order for over 3 million TPUs for 2028, while Nvidia is assessing Intel’s technology for advanced AI processor packaging. Dive deeper

Amazon raised C$14 billion ($10 billion) through a Canadian dollar bond sale, the largest corporate debt offering ever in the currency, after attracting more than C$28 billion in investor demand. The fundraising comes as major cloud and AI companies ramp up spending on data centres, chips, and infrastructure, with Amazon expected to invest around $200 billion this year. Dive deeper

OpenAI has confidentially filed preliminary paperwork with the US Securities and Exchange Commission, taking the first formal step toward a potential public listing. The move positions the ChatGPT maker among the leading AI companies preparing for Wall Street debuts amid growing investor interest in the sector. Dive deeper

A US federal court has struck down the $100,000 fee on H-1B visa applications introduced by Donald Trump, ruling that it amounted to a tax not authorized by Congress. The decision is expected to provide significant relief to Indian professionals and US companies that rely on skilled foreign workers. Dive deeper

Saudi Arabia’s economy grew 3.0% YoY in Q1 2026, slowing from 5.0% growth in the previous quarter and marking its weakest expansion since Q2 2024. The moderation was driven by a slowdown in oil-sector growth to 2.9% from 10.8%, as US-Iran tensions and disruptions around the Strait of Hormuz weighed on energy trade and exports. Dive deeper

China’s exports jumped 19.4% YoY to a record $376.8 billion in May 2026, significantly beating expectations and marking the fastest growth since February. The surge was driven by inventory build-up ahead of potential energy cost increases from Middle East tensions, alongside strong global demand for semiconductors and AI-related hardware. Dive deeper

Management Chatter

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

N Chandrasekaran, Chairman of Tata Sons on AI:

"The day is not very far when TCS will have an equal number of AI agents or AI workers as their physical workers."

"Far from being a mortal threat, AI is the most significant opportunity yet for enterprise IT." - Link

“The company will not be hiring the kind of numbers that you used to hire.”

“Why (just) the company, the industry is unlikely to hire the same number of people they used to hire? Because certain portions of the work in the current scheme of things will go to AI agents.” - Link

Sunil Mathur, Managing Director & CEO of Siemens on private sector CapEx:

“We do see a growth in cement, steel, pharmaceuticals, etc., also happening during the last couple of months.”

“I would not say we are yet at the peak on the private sector CapEx, but we definitely see a real pickup in the last couple of months.” - 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’re discussing a formula that has influenced everyone from professional gamblers to hedge fund managers and some of the greatest investors of all time — the Kelly Criterion.

If you have a strategy with an edge, how much should you bet on it? Most traders spend years trying to improve their entries and exits but spend very little time thinking about position sizing. Yet, the amount you allocate to a trade can have a bigger impact on long-term outcomes than the trade itself.

In this episode, we explore what the Kelly Criterion is, how it works, and why it remains one of the most debated ideas in finance. We’ll look at its fascinating origins, understand where it helps, where it falls short, and discuss how traders and investors can apply its principles in the real world without taking unnecessary risks.

Check out In The Money

Markets Today

Nifty opened with a big gap down of 286 points at 23,080, tracking the sharp sell-off in global markets after the Nasdaq plunged over 5%, with major Asian indices such as Japan and South Korea also witnessing heavy losses. Despite the weak start, the index saw some buying interest in the opening hour and gradually recovered toward the 23,180–23,200 zone.

The recovery continued through the late morning session, with Nifty reclaiming the 23,200 mark and moving higher to around 23,240–23,250 by 12:45 PM, marking the day’s high.

However, the momentum faded in the second half. The index gradually slipped lower, giving up most of its midday gains. Nifty drifted back toward the 23,150–23,170 zone by 2 PM.

Selling intensified in the final hour, dragging the index towards the 23,100 mark. Nifty eventually closed near the day’s low at 23,123, erasing nearly the entire intraday recovery.

The session was marked by a sharp gap-down opening, a steady first-half rebound, and persistent second-half weakness as global risk-off sentiment continued to weigh on domestic markets.

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

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

Thematic Indices

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 9th June:

• The maximum Call Open Interest (OI) is observed at 23,500, followed by 23,400 & 23,300, indicating potential resistance at the 23,300 -23,400 levels.

• The maximum Put Open Interest (OI) is observed at 23,000, followed by 23,100, suggesting support at 23,000-22,900.

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 index-eligible government bonds saw inflows of ₹4,490 crore ($469 million) on Friday, the highest in nearly a year, after authorities unveiled measures to encourage foreign investment and support the rupee. Dive deeper

The Indian rupee weakened by 56 paise to close at 95.74 against the US dollar, pressured by higher crude oil prices and a stronger dollar amid rising geopolitical tensions. Increased risk aversion in global markets also weighed on the domestic currency. Dive deeper

India posted a current account surplus of $7.1 billion, or 0.7% of GDP, in the January–March quarter of FY26, driven by robust services exports and higher worker remittances. For the full fiscal year, the current account deficit narrowed to $25.2 billion, or 0.6% of GDP, highlighting the resilience of India’s external sector despite global uncertainties. Dive deeper

India’s automobile retail sales rose 10% YoY to a record 2.53 million units in May, driven by strong demand across passenger vehicles, tractors, two-wheelers, commercial vehicles, and three-wheelers, according to the FADA. EV adoption also accelerated sharply, with electric vehicles accounting for over 11% of total registrations in May versus around 7% for FY26, aided by higher fuel prices. Dive deeper

India’s pharmaceutical market grew 10.9% YoY by value in May 2026 to ₹21,805 crore, supported by broad-based growth across therapies, new product launches, and improving demand trends. Chronic segments such as cardiac and anti-diabetes remained key growth drivers, while volume growth improved to 1.4%, indicating stronger underlying consumption. Dive deeper

Adani Ports and Special Economic Zone has secured a 10-year marine services contract for Argentina’s first LNG export project, marking its entry into South America. The contract, awarded to its subsidiary in partnership with Argentina-based Meridian Group, is valued at approximately $70 million (₹666 crore). Dive deeper

Top Stories Globally

WTI crude oil futures eased to around $91.5 per barrel after briefly crossing $95 earlier in the session, as Iran's announcement that it had ended military operations against Israel reduced fears of further escalation in the Middle East. The development improved prospects for US-Iran negotiations and a gradual restoration of oil exports through the Persian Gulf. Dive deeper

U.S. markets witnessed a sharp sell-off on Friday as stronger-than-expected jobs data raised concerns that the Federal Reserve may keep interest rates higher for longer. At the same time, weakness in AI-related stocks added to the pressure. The S&P 500 fell 2.6%, snapping a nine-week winning streak, while the Nasdaq dropped 4.2%, its steepest decline since April 2025, and the Dow Jones lost nearly 700 points. Dive deeper

Nvidia announced a series of partnerships in South Korea with major technology firms including SK Hynix and Naver. The deals aim to secure advanced memory chip supplies for Nvidia’s AI products while expanding its customer base, coinciding with CEO Jensen Huang’s visit to the country. Dive deeper

KOSPI plunged more than 8% on Monday, triggering a market-wide circuit breaker, as a global semiconductor selloff and escalating Middle East tensions sparked a broad risk-off move. The decline followed a sharp drop in US chip stocks after disappointing forecasts from Broadcom sent the Philadelphia Semiconductor Index down over 10%, its steepest fall since March 2020. Dive deeper

Saudi Aramco cut the July official selling price of its flagship Arab Light crude to Asia for a second consecutive month, lowering the premium by $6 per barrel to $9.50 above the Dubai/Oman benchmark. The move reflects softer demand and easing spot premiums despite ongoing supply disruptions linked to tensions involving Iran. Dive deeper

Management Chatter

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

Union Minister of Petroleum and Natural Gas Hardeep Singh Puri, on India’s preparedness to manage global disruptions:

“In the midst of all this crisis, in the midst of all this crisis, you have no dry out taking place in any part of the country, and you are still exporting,”

“What happens if Hormuz remains closed for another 30 days? We all have domestic situations, we have stocks ... my comfort point used to be 60-60-60 which means 60 days of crude oil, natural gas and LPG - which I do have; I would say that's comfortable,”

“But meanwhile, diversified supplies have also started. For instance, you know, we were very fortunate in having friends like the UAE; Sultan Jabbar called me late night, late one evening and he said, look, you wanted, brother, you wanted more LPG cargoes, I've got them ready, send the ships.” - Link

Amit Syngle, Managing Director & CEO of Asian Paints on overall demand:

“We got good growth both in rural and urban centers across.”

“Rural was a little bit ahead of urban growth of what we could really get in.” - Link

Sridhar Mantha, CEO – Generative AI Business Services (GBS) of Happiest Minds Technologies, on productivity gains due to AI:

“Traditional software development methods require 6 months to build such an application.”

“We won this project because we are able to actually complete the project in 3 months and deliver to the customer.” - 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’re discussing a formula that has influenced everyone from professional gamblers to hedge fund managers and some of the greatest investors of all time — the Kelly Criterion.

If you have a strategy with an edge, how much should you bet on it? Most traders spend years trying to improve their entries and exits but spend very little time thinking about position sizing. Yet, the amount you allocate to a trade can have a bigger impact on long-term outcomes than the trade itself.

In this episode, we explore what the Kelly Criterion is, how it works, and why it remains one of the most debated ideas in finance. We’ll look at its fascinating origins, understand where it helps, where it falls short, and discuss how traders and investors can apply its principles in the real world without taking unnecessary risks.

Check out In The Money

Markets Today

Nifty opened with a gap up of 63 points at 23,479 ahead of the RBI policy announcement. The index saw a choppy start, trading between the 23,450–23,470 range in the first hour as traders positioned ahead of the policy outcome.

However, the initial optimism faded quickly after the policy announcement as Nifty gave up most of its gains and turned volatile, slipping toward the 23,350–23,380 range through the late morning session. A brief recovery around 11 AM pushed the index back above 23,470, but the move failed to sustain.

In the second half, selling pressure intensified, dragging Nifty steadily lower. The index slipped below the 23,350 mark after 1 PM and continued to weaken, hitting the day’s low near the 23,280 zone around 1:45 PM.

A recovery attempt emerged later in the session, helping Nifty rebound toward the 23,380–23,400 range. However, the bounce lacked follow-through, and the index spent most of the final hour in a narrow range before eventually closing at 23,366.70.

The session was marked by sharp swings around the RBI policy, an opening rally that quickly faded, and persistent second-half weakness, leaving Nifty marginally lower despite the positive start.

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 9th June:

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

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

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

Source: Sensibull

Top Stories in India

The RBI kept the repo rate unchanged at 5.25%, citing rising inflation risks and potential downside risks to growth amid the West Asia conflict. RBI Governor Sanjay Malhotra said higher fuel and commodity prices, supply chain disruptions, financial market volatility, weather-related uncertainties, and a weaker rupee have increased risks to both inflation and economic growth, while the policy stance remains neutral. Dive deeper

The RBI unveiled a package of measures to attract foreign capital, including expanding unrestricted foreign access to long-term government bonds under the FAR route and easing investment norms for NRIs and overseas investors.

It also extended support for overseas fundraising through concessional forex swap facilities for PSU borrowings and continued hedging-cost support for FCNR(B) deposits until September 2026. Additionally, the central bank restored the export proceeds repatriation timeline to the normal 9 months from the temporary 15-month window. Dive deeper

The Indian rupee surged 81 paise to close at 94.93 against the US dollar, marking its strongest single-day gain in weeks. The rally was driven by the RBI’s measures to attract foreign capital, improve forex liquidity, and boost investor confidence in Indian financial markets. Dive deeper

The government has issued an ordinance exempting Foreign Institutional Investors (FIIs) from income tax on interest income and capital gains earned from government securities, effective April 1, 2026. The move removes the existing 12.5% long-term capital gains tax and 20% withholding tax on interest from G-Secs, aiming to attract greater foreign investment into India’s sovereign bond market. Dive deeper

India’s economy grew 7.7% in FY26, accelerating from 7.1% in FY25, according to data released by the Ministry of Statistics and Programme Implementation. GDP growth for the January–March quarter was estimated at 7.8%, while nominal GDP rose 8.9% to ₹346.36 lakh crore during the fiscal year. Dive deeper

AirTrunk plans to invest around ₹3 lakh crore ($30 billion) in India to build 5 GW of data centre capacity, one of the largest commitments in the country’s digital infrastructure sector. Narendra Modi said the investment will strengthen India’s position as a global hub for cloud computing and AI while creating jobs and supporting domestic supply chains. Dive deeper

Capital market-related stocks came under pressure after Sanjay Malhotra reiterated that the RBI will implement its proposed lending norms for proprietary trading from July 1, with no further extension. The rules require 100% collateral backing for loans linked to proprietary trading activities, raising concerns about funding availability and trading volumes in the capital markets ecosystem. Dive deeper

India’s gold ETFs recorded a net outflow of $61 million in May, the first monthly outflow in a year, according to the World Gold Council. The reversal was driven by profit-booking after higher import duties pushed domestic gold prices higher, compared with net inflows of $297.2 million in April. Dive deeper

Top Stories Globally

WTI crude futures held near $93 per barrel on Friday after a 3.1% decline in the previous session, as markets balanced optimism over progress in US-Iran negotiations against lingering uncertainty surrounding a ceasefire between Israel and Lebanon. Dive deeper

Global equity funds recorded net inflows of $21.44 billion in the week ended June 3, the highest level in three weeks, as strong technology-sector earnings and continued enthusiasm around the AI theme boosted investor appetite for equities. The inflows marked the largest weekly allocation to global equity funds since mid-May. Dive deeper

Asian markets declined as investors booked profits in technology and AI-related stocks, triggering a sell-off in semiconductor shares. Japan and Hong Kong fell over 1%, while South Korea’s KOSPI slumped more than 5.5%, also weighed down by expectations of a potential Bank of Japan rate hike. Dive deeper

The Eurozone economy contracted 0.2% in Q1 2026, marking its first decline since Q4 2022 and the sharpest drop since mid-2020, according to final data from Eurostat. The contraction was driven by a steep 12.1% decline in Ireland’s GDP and a slight contraction in France, while Spain, Germany, Italy, and the Netherlands continued to post modest growth. Dive deeper

Management Chatter

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

RBI Governor Sanjay Malhotra on the possible impact of deficiency in rainfall:

“Rural demand, yes; private consumption, yes. Some impact will be there,"

"Additionally, the projected deficiency in the south-west monsoon will have implications for agricultural production and rural demand. However, programmes and initiatives for crop diversification, water harvesting and conservation, climate-resilient practices and short-duration crops, among others, are expected to mitigate the impact," - Link

Chief Economic Advisor Anantha Nageswaran on Inflation & growth in FY27:

"Whether oil prices continue to stay below $100 will also determine the course of inflation."

If economic growth were to slip below the 7% mark due to external factors, government policies and reforms would help steer the economy back to a 7% growth trajectory in FY28 or once conditions normalize. - 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, Sandeep built a live prediction system using four of today’s most capable AI models — Claude Sonnet, Claude Opus, GPT, and Gemini — and ran it across 31 live trading days on the Nifty 50. Every afternoon at 3:15, just before market close, each model received the same structured brief and made two predictions: direction (up or down) and gap size. The results? Directionally useful, but turning that edge into a tradable strategy is a completely different problem.

This episode walks through the full experiment — how the brief was designed (with AI helping design the exam it would take), what the accuracy numbers actually look like, what a hypothetical trade log reveals when you apply realistic entry and exit conditions, and why one minute of difference can change the picture significantly.

Check out In The Money

Markets Today

Nifty opened with a gap down of 123 points at 23,282, tracking weak global cues and subdued domestic sentiment. The index came under pressure in the opening minutes, slipping toward the 23,250–23,260 zone and marking the day’s low within the first few minutes.

However, buyers stepped in quickly, helping Nifty recover sharply from the lows. The index reclaimed the 23,400 mark by around 10 AM and remained volatile throughout the late-morning session, oscillating between 23,380 and 23,450.

In the second half, Nifty continued to trade in a broad range, with intermittent bouts of buying and selling keeping the index choppy. A brief dip around 1:15 PM dragged the index back toward the 23,330–23,350 zone, but the weakness was quickly bought into.

Momentum improved after 2 PM, with Nifty climbing steadily toward the 23,450 mark. The index held on to most of its gains in the final hour and eventually closed the day flat at 23,416.55.

The session was marked by a weak gap-down start, a swift recovery from early lows, and a volatile yet constructive second half, helping the Nifty end the day flat despite the negative opening.

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 9th June:

• The maximum Call Open Interest (OI) is observed at 23,500, followed by 23,800 & 23,700, indicating potential resistance at the 23,700 -23,800 levels.

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

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

Source: Sensibull

Top Stories in India

The US became India’s largest LPG supplier in May, with shipments more than doubling to 666,000 tonnes and accounting for 55% of total imports, as India sought alternative sources amid disruptions in West Asia. Meanwhile, Iran resumed LPG exports to India after a seven-year gap, supplying 145,000 tonnes and emerging as the country’s second-largest supplier during the month. Dive deeper

Rajesh Exports shares hit the 5% lower circuit after the SEBI barred promoter and Executive Chairman Rajesh Mehta from dealing in the company's securities over alleged financial misrepresentation and fund diversion. SEBI's interim findings indicated that nearly ₹15.15 lakh crore of revenues linked to subsidiaries may have been misrepresented between FY21 and FY25, significantly inflating the company's reported operations. Dive deeper

Physics Wallah shares jumped over 15% after the company announced plans to revamp its student lending model. The edtech firm said it will partner with multiple regulated NBFCs to facilitate student financing, aiming to strengthen access to education loans while reducing lending-related risks. Dive deeper

TVS Supply Chain Solutions has entered the aerospace and defence supply chain segment through a 51:49 joint venture with ALA Group. The partnership is expected to generate cumulative revenue of over ₹2,000 crore by 2031, initially focusing on opportunities in India before expanding to select international markets. Dive deeper

L&T has signed an MoU with the Tamil Nadu government to invest ₹18,600 crore across three projects, including a data centre expansion in Kanchipuram, an electronics and electrical systems manufacturing unit in Coimbatore, and the expansion of its Kattupalli shipyard. The projects are expected to create over 8,000 jobs. Dive deeper

India’s tractor registrations rose 11.6% YoY to 81,776 units in May 2026, driven by strong rural cash flows, replacement demand, and dealer restocking. Dive deeper

Shares of Indian drone manufacturers rallied after reports suggested that India is preparing its largest-ever military drone procurement programme, potentially worth over $2 billion (₹20,000 crore). The proposed order is expected to benefit domestic drone makers as the government continues to push for greater indigenisation in defence procurement. Dive deeper

Top Stories Globally

WTI crude futures fell more than 3% to around $92 per barrel, snapping a three-day rally as optimism grew around a potential agreement with Iran to ease regional tensions. Markets were encouraged by reports that Israel and Lebanon had agreed to a conditional ceasefire, a key demand linked to broader US-Iran peace negotiations. Dive deeper

U.S. services sector activity accelerated in May, with the Services PMI rising to 54.5 from 53.6 in April, as businesses increased orders and rebuilt inventories amid concerns over supply disruptions and higher costs linked to the Middle East conflict. Dive deeper

The US International Development Finance Corporation will invest $1.5 billion (about ₹14,400 crore) through an energy infrastructure platform focused on India and Southeast Asia. The initiative aims to strengthen energy security among US allies while supporting LNG, hydrocarbon, equipment, and services exports across the Indo-Pacific region. Dive deeper

Bitcoin fell to a nearly four-month low of around $61,300 before recovering above $64,000, as investors shifted capital from cryptocurrencies to highly anticipated IPOs and private-market opportunities. Despite the rebound, Bitcoin remains down about 13% for the week, reflecting continued risk-off sentiment in the crypto market. Dive deeper

US-based employers announced 97,006 job cuts in May 2026, the highest level since January and the largest May total since 2020. Artificial intelligence was cited as the leading reason for layoffs for the third consecutive month, with the technology sector alone announcing 38,242 job cuts, its highest monthly total since August 2024. Dive deeper

Management Chatter

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

Anirudh Bhuwalka, Founder and MD of Blue Energy Motors, on rapid transition to heavy-duty electric vehicles over the next five years:

The next five years will witness one of the fastest transformations in the history of India's trucking industry.

"Crossing 100 million kilometres is a strong validation of where the future of freight mobility is headed. A few years ago, green-fuel trucking was still seen as an emerging idea. Today, fleet operators are actively looking at cleaner solutions that make sense not only from a sustainability perspective, but also operationally and commercially."

“The recent volatility in global energy markets has highlighted a reality that freight operators can no longer ignore. Businesses that remain entirely dependent on diesel are becoming increasingly exposed to fuel-price shocks and supply uncertainties." - Link

Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, on shifting to E85:

“If 1% of annual petrol vehicle sales in India during ethanol supply year 2026-27 shifts to E85, over four crore litres of ethanol demand would be generated, nearly ₹266 crore estimated payments would be made to distillers,”

“Around ₹195 crore in foreign exchange savings will be earned, reduction of approximately 0.28 lakh metric tonnes (LMT) of crude oil imports, net CO2 reduction of nearly 0.86 LMT and nearly ₹160 crore flowing directly to farmers.”

The E85 fuel would be “substantially cheaper than normal fuel [variant].” - 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, Sandeep built a live prediction system using four of today’s most capable AI models — Claude Sonnet, Claude Opus, GPT, and Gemini — and ran it across 31 live trading days on the Nifty 50. Every afternoon at 3:15, just before market close, each model received the same structured brief and made two predictions: direction (up or down) and gap size. The results? Directionally useful, but turning that edge into a tradable strategy is a completely different problem.

This episode walks through the full experiment — how the brief was designed (with AI helping design the exam it would take), what the accuracy numbers actually look like, what a hypothetical trade log reveals when you apply realistic entry and exit conditions, and why one minute of difference can change the picture significantly.

Check out In The Money

Markets Today

Nifty opened with a gap down of 68 points at 23,416, tracking rising crude oil prices and continued weakness in domestic sentiment. The index remained under pressure through the morning session, slipping steadily from the opening levels and testing the 23,150–23,170 zone around noon, marking the day’s low.

Buying interest emerged around midday, helping Nifty recover sharply from the lows. The index reclaimed the 23,300 mark shortly after 12:30 PM and extended gains through the afternoon.

In the second half, momentum strengthened further, with Nifty moving in a steady uptrend. The index crossed 23,350 after 1:30 PM and climbed toward the 23,440–23,450 zone by around 3 PM, marking the day’s high.

A mild bout of profit-booking in the final 30 minutes trimmed some gains, but Nifty managed to hold above the 23,400 mark and eventually closed at 23,405.60.

The session was marked by a weak first half followed by a strong recovery from intraday lows, with sustained second-half buying helping the index erase most of its early losses despite lingering concerns around oil prices and broader market 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 9th June:

• The maximum Call Open Interest (OI) is observed at 23,500, followed by 23,800 & 23,700, indicating potential resistance at the 23,700 -23,800 levels.

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

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

Source: Sensibull

Top Stories in India

The Union Cabinet has approved a one-time ₹10,000 crore Price Stabilisation Fund to protect Indian airlines from sharp fluctuations in aviation turbine fuel (ATF) prices amid the West Asia crisis. Dive deeper

S&P Global reported that India’s Services PMI rose to 59.8 in May from 58.8 in April, indicating strong growth in business activity. The expansion was supported by robust new business inflows, a rebound in export demand, and easing input cost inflation, which helped reduce pressure on selling prices. Dive deeper

India could face additional trade pressure after the Office of the United States Trade Representative proposed 12.5% tariffs on most Indian goods under its Section 301 findings, citing concerns about the enforcement of forced-labour import prohibitions. India stated that discussions on both the Section 301 process and a broader trade framework remain ongoing. Dive deeper

RBI clarified that reports suggesting it had sold gold worth about $12 billion were incorrect. The RBI said its physical gold holdings remained unchanged at 880.52 tonnes as of the week ended April 24, 2026. Dive deeper

Model Economic Township has signed two MoUs with the Haryana government for investments worth ₹8,646 crore in its Reliance MET City project at Jhajjar. The 8,250-acre integrated smart city, developed by the Reliance Industries group, already hosts over 650 companies from 11 countries. Dive deeper

India’s exports of refined petroleum products fell to around 930,000 barrels per day in May, the lowest level since October 2022. The decline was driven by refinery maintenance activities, shifting production priorities, and stronger domestic fuel demand, which reduced the volume available for exports. Dive deeper

The Union Cabinet has approved a vehicle replacement scheme for old trucks and buses in the Delhi-NCR region to curb air pollution and accelerate cleaner mobility. The scheme offers 5% interest subvention on loans for five years, fuel vouchers of up to ₹4,800 per month, and incentives for EV purchases, benefiting around 2.07 lakh vehicle owners across Delhi-NCR, Haryana, Rajasthan, and UP. Dive deeper

Top Stories Globally

WTI crude futures rose above $95/bbl, extending gains for a third straight session as uncertainty over US-Iran peace talks and renewed tensions in the Middle East kept a geopolitical risk premium embedded in oil prices. Markets also reacted to reports of Iranian missile launches and retaliatory US strikes, raising concerns about potential disruptions to regional energy supplies. Dive deeper

Zhang Yiming has overtaken Mukesh Ambani to become Asia’s second-richest person, with a net worth of $92.8 billion. The rise has been driven by a higher valuation for ByteDance, strong growth in TikTok, and the success of its Doubao AI chatbot, which has attracted over 300 million monthly users. Dive deeper

OECD cut its global growth forecast for 2026 to 2.8% from 3.4%, while maintaining its 2027 projection at 3.1%. The OECD cited uncertainty surrounding the Middle East conflict, warning that disruptions to infrastructure, transport routes, and supply chains could weigh on the global economy for an extended period. Dive deeper

The European Commission has proposed the Cloud and AI Development Act and Chips Act 2.0 to strengthen Europe’s domestic cloud, AI, and semiconductor industries. The initiative aims to reduce dependence on US technology firms and double the EU’s share of global semiconductor production to 20% by 2030. Dive deeper

Management Chatter

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

Uday Kotak, founder of Kotak Mahindra Bank, on "wake-up call" for listed companies in India:

"Google, which is cash surplus, just announced an additional capital raise of $80 bn. Google's annual profit is $160 bn, last quarter $62 bn, and market cap $4.5 trillion. That is close to the total profits and market cap of all Indian listed companies put together."

"It's a wake-up call to all companies to invest into the future, whatever the present may be. Now that IPL is done and dusted, time for India to focus on business of business." - Link

Fernando Fernandez, Unilever Global CEO of Unilever on the Indian market:

“We got late into the Chinese party; we will not get late into the Indian party.”

“We now have a portfolio of super premium brands that will travel into India at the right time when the markets develop.” - 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, Sandeep built a live prediction system using four of today's most capable AI models — Claude Sonnet, Claude Opus, GPT, and Gemini — and ran it across 31 live trading days on the Nifty 50. Every afternoon at 3:15, just before market close, each model received the same structured brief and made two predictions: direction (up or down) and gap size. The results? Directionally useful, but turning that edge into a tradable strategy is a completely different problem.

This episode walks through the full experiment — how the brief was designed (with AI helping design the exam it would take), what the accuracy numbers actually look like, what a hypothetical trade log reveals when you apply realistic entry and exit conditions, and why one minute of difference can change the picture significantly.

Check out In The Money

Markets Today

Nifty opened with a big gap down of 153 points at 23,229, tracking weak global cues after Iran announced it was halting negotiations, triggering a fresh spike in crude oil prices. The index remained under pressure for most of the first half, oscillating between 23,275 and 23,350, with each recovery attempt met by selling pressure.

After a subdued morning session, sentiment improved sharply around 12:30 PM. Nifty found support near the 23,270–23,280 zone and staged a strong recovery, reclaiming the 23,450 mark by 1 PM.

Buying momentum accelerated further, with the index breaking out of its morning range and surging toward the 23,500–23,550 zone by 2 PM. Nifty remained firmly in positive territory through the afternoon, with only brief pullbacks interrupting the uptrend.

The index held on to most of its gains and eventually closed the day at 23,483.55. The session was marked by a weak gap-down opening, a sharp reversal around noon, and sustained buying in the second half, reflecting a sharp improvement in sentiment despite elevated geopolitical concerns and rising crude 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 9th June:

• The maximum Call Open Interest (OI) is observed at 24,000, followed by 23,500, indicating potential resistance at the 23,700 -23,800 levels.

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

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

Source: Sensibull

Top Stories in India

IT stocks extended their rally on Tuesday, with the Nifty IT index gaining around 4%, driven by rising demand for system integrators as AI adoption increases, enterprises focusing on AI ROI and integration, partnerships between AI model providers and IT services firms, attractive valuations after the sector's correction earlier this year, and improving commentary from global software companies on AI-driven demand. Dive deeper

The Coca-Cola Company said it is exploring a potential IPO of Hindustan Coca-Cola Holdings in India, with a possible listing targeted for 2027 on the NSE and BSE. The company has appointed Rothschild & Co as adviser for the proposed listing process. Dive deeper

GMDC will develop India’s first AI-powered rare earth supply chain observatory in partnership with the University of Cambridge. The project will be implemented over two years with an investment of £600,000 and aims to strengthen monitoring and resilience across critical mineral supply chains. Dive deeper

Godrej Industries has entered the wealth management business with the launch of Godrej Wealth. The platform aims to manage ₹1 lakh crore in assets by 2031, focusing on affluent and high-net-worth clients through a technology-enabled model. Dive deeper

The government has decided to exercise the full greenshoe option in the OFS of NHPC after strong investor demand saw the issue oversubscribed 3.47 times on the first day. As a result, the stake sale has been increased to the full 6%, comprising a 3% base offer and a 3% greenshoe option, at a floor price of ₹71 per share. Dive deeper

Top Stories Globally

WTI crude oil futures fell around 1% to near $92 per barrel on Tuesday, giving back part of the previous session’s 4.2% gain as investors assessed mixed signals surrounding US-Iran negotiations and the future of shipping through the Strait of Hormuz. Dive deeper

Abu Dhabi Real Estate Centre has announced a temporary rent freeze across Abu Dhabi, with all residential, commercial, and industrial lease renewals to be processed with a 0% rent increase. Dive deeper

South Korea and Taiwan have overtaken India in global stock market rankings, driven by a powerful AI-led rally in semiconductor stocks. South Korea’s market capitalization has risen to about $5 trillion, supported largely by gains in Samsung Electronics and SK Hynix. Dive deeper

Tesla reported a 39.4% YoY increase in sales of its China-made vehicles in May, marking its seventh consecutive month of growth. Deliveries of Model 3 and Model Y vehicles from its Shanghai factory rose to 85,982 units, up 8.2% from April, as the company continued to compete effectively against Chinese EV rivals. Dive deeper

Cisco Systems unveiled a new suite of software tools that allows businesses to build AI agents for monitoring and protecting IT infrastructure from cyber threats. The launch comes as Anthropic prepares to release its Mythos AI model, which some experts believe could increase cybersecurity risks if misused by hackers. Dive deeper

Consumer inflation in the Eurozone accelerated to 3.2% in May 2026 from 3.0% in April, marking its highest level since September 2023 and remaining well above the European Central Bank’s 2% target. The increase was driven primarily by a sharp rise in energy prices, while inflation in services and non-energy industrial goods also picked up. Dive deeper

Management Chatter

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

GP Sharma, President-Metrology and Climate Change Skymet, says that it is too early to assess the situation on El Nino:

"Neutral conditions are still prevailing. It is still about a month to go for El Nino to possibly set grounds over the Pacific Ocean; I think it's we still need some time to watch at least the start of the monsoon, though it is not looking very healthy."

While past trends reveal that El Niño corrupts monsoon, there have been exceptions. Concerns that “super El Niño” could severely damage India's monsoon are not completely true. Such fears are early, as June has only just begun and El Niño has not yet set in. - Link

Fatih Birol, Executive Director of IEA, on the Impact of the Iran war:

The amount of oil and gas the world has lost combined in these three major crises is less than the oil and gas we lost in this very crisis of the Iran war. We lost a huge amount of oil, a huge amount of natural gas, and this would have major implications for the global economy, especially in Asia, and within Asia, developing economies.

My biggest worry is the following: When we enter this crisis, we hit buffers. IEA has said that before February 28, there was a lot of surplus pushing the oil prices down, and after the crisis started, we have been using this surplus plus the inventories, the stocks that the governments and companies have, and all this gas and oil we have already is now diminishing. - 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, From the moment you tap buy on Kite to the moment the exchange says complete, your order travels through CloudFlare’s security layer, AWS’s load balancers, dedicated P2P lease lines, physical data centres in Mumbai and Chennai, three layers of internal checks — a mini RMS, the OMS, and the main RMS — and finally to the exchange itself. Seven layers. Hundreds of moving parts. A few milliseconds.

This episode also examines what can go wrong at each stage — from CloudFlare false positives that block legitimate users, to lease line flapping, to the rarest and most disruptive scenario: the OMS or the exchange itself going down.

Check out In The Money

Markets Today

Nifty opened with a gap up of 107 points at 23,655, recovering from the sharp sell-off seen in the final 30 minutes of Friday’s session. The index saw some early volatility, with the index going above 23,700 briefly in the first few minutes.

However, the momentum faded through the late morning session. Nifty gradually gave up its gains, slipping toward the 23,500 mark by noon as selling pressure emerged across the market.

In the second half, weakness intensified further, with the index making a series of lower highs and lower lows. Nifty slipped below 23,450 after 1:30 PM and continued to trend lower throughout the afternoon, testing the 23,360–23,380 zone in the final hour and eventually settled near lows of the day at 23,382.60.

The session was marked by a positive start that quickly lost steam, followed by persistent selling through the second half, resulting in a close near the day’s lows and extending the recent weakness in the market.

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 2nd June:

• The maximum Call Open Interest (OI) is observed at 23,900, followed by 23,600, indicating potential resistance at the 23,600 -23,700 levels.

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

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

Source: Sensibull

Top Stories in India

GST collections moderated to ₹1.94 lakh crore in May 2026 from a record ₹2.42 lakh crore in April, but remained 3.2% higher than a year ago. Net GST revenue rose 3.3% YoY to ₹1.67 lakh crore, indicating continued resilience in tax collections despite the sequential decline. Dive deeper

India’s factory output, measured by the Index of Industrial Production (IIP), grew 4.9% YoY in April 2026, slowing from 5.7% a year earlier. Manufacturing remained the key growth driver with a 6.2% increase, while mining output contracted 5.1%; electricity and gas supply grew 4.9%, and water supply and waste management rose 6.6%. Dive deeper

S&P Global reported that India’s manufacturing PMI rose to a three-month high of 55.0 in May from 54.7 in April, indicating stronger expansion in factory activity. Growth was driven by robust domestic demand, although export order growth moderated compared with the previous month. Dive deeper

Zee Entertainment Enterprises shares gained after the company partnered with FIFA to broadcast 39 major football events in India, including the FIFA World Cup 2026, FIFA Women’s World Cup 2027, and the 2030 FIFA World Cup. Dive deeper

Intel and 3D Glass Solutions have partnered with the Odisha government for a $3.3 billion semiconductor substrate manufacturing project. The facility, to be built in the Bhubaneswar-Khurda region, will focus on advanced semiconductor packaging and glass-core substrate production over the next five to six years. Dive deeper

UPI recorded its highest-ever monthly activity in May, with transaction value rising 3% to ₹29.9 trillion and transaction volume increasing 4% to 23.2 billion. Dive deeper

India’s power consumption rose 11.6% YoY to 164.98 billion units in May, driven by intense heatwave conditions that boosted demand for cooling appliances such as air conditioners and desert coolers. Dive deeper

Tata Motors reported a 17% YoY increase in total commercial vehicle sales to 32,850 units in May. Domestic commercial vehicle sales rose 19% to 30,784 units during the month. Dive deeper

Maruti Suzuki India reported record monthly sales of nearly 2.43 lakh vehicles in May 2026, surpassing its previous all-time high of 2.40 lakh units achieved in April. Dive deeper

Top Stories Globally

Brent crude futures rose toward $94/bbl, recovering part of last week’s sharp losses as uncertainty persisted over a potential US-Iran peace agreement. While both sides exchanged draft revisions aimed at extending the ceasefire and reopening the Strait of Hormuz, markets remained cautious amid a lack of a clear breakthrough. Dive deeper

NVIDIA unveiled its new RTX Spark PC chip, bringing advanced AI capabilities directly to laptops and desktop computers. CEO Jensen Huang said the chip is part of a collaboration with Microsoft to “reinvent the PC” for the AI era, intensifying competition with Advanced Micro Devices, Intel, and Apple. Dive deeper

Berkshire Hathaway has agreed to acquire Taylor Morrison Home for $6.8 billion in cash, expanding its presence in the housing market. The deal marks the first multi-billion-dollar acquisition under CEO Greg Abel since he took over at the start of 2026. Dive deeper

BYD ended its eight-month sales decline streak in May, with global vehicle sales rising 0.3% YoY to 383,453 units. Overseas sales surged 80.4% to 160,644 units, supported by stronger demand for electric vehicles in Europe and emerging markets amid elevated oil prices. Dive deeper

S&P Global reported that Taiwan’s Manufacturing PMI rose to 56.1 in May from 55.3 in April, marking the strongest expansion since August 2021. Growth was driven by a sharp increase in output, supported by stronger demand and inventory build-up amid supply disruptions linked to the Middle East conflict. Dive deeper

South Korea’s exports surged 53.2% YoY to a record $87.75 billion in May, driven by booming demand for technology products. Semiconductor exports jumped 169.4% to an all-time high of $37.16 billion, supported by strong global AI investment, while exports of computers, wireless communication devices, and displays also grew robustly. Dive deeper

Management Chatter

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

India’s commerce minister Piyush Goyal on FTA with the US:

Mostly everything is finalised. As you know, US Ambassador George said that 99 per cent of the things have been finalised. Discussions are going on about small issues, commas and full stops.

“While finalising, how will the legal changes that have taken place in the US be reflected in the final agreement, and what kind of changes will be made accordingly. After finalising that, I am fully confident that, with the US, we will conclude the first tranche of the BTA as soon as possible, sign it and start further discussions on how to have a more comprehensive BTA.” - Link

Arun Kumar Singh, Chairman & CEO of ONGC, on shift toward high-margin gas:

It is a matter of time—perhaps 4 to 6 years maximum—before almost 80-90% of ONGC gas becomes new-well gas under the current policy. You can factor that price into your calculations; at a crude price of 90 dollars, we get 10.8 dollars. We value gas more than oil in the local market for various reasons, primarily because managing gas is less cumbersome, which keeps more money in our pocket.” - Link

Shenu Agarwal, MD & CEO of Ashok Leyland, on the fastest-growing CV categories this year:

“This year, we think the tipper segment and the multi-axle segment would be the fastest-growing segments, followed by the tip-trailer segment. Anything connected with mines, infrastructure projects, or construction projects should show tremendous promise this year.” - 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, From the moment you tap buy on Kite to the moment the exchange says complete, your order travels through CloudFlare's security layer, AWS's load balancers, dedicated P2P lease lines, physical data centres in Mumbai and Chennai, three layers of internal checks — a mini RMS, the OMS, and the main RMS — and finally to the exchange itself. Seven layers. Hundreds of moving parts. A few milliseconds.

This episode also examines what can go wrong at each stage — from CloudFlare false positives that block legitimate users, to lease line flapping, to the rarest and most disruptive scenario: the OMS or the exchange itself going down.

Check out In The Money

Markets Today

Nifty opened flat at 23,902, digesting mixed global cues as geopolitical tensions continued to escalate even as reports of progress in diplomatic talks offered some relief. The index traded with a mild negative bias through the morning session, gradually slipping from the 23,940–23,950 zone toward 23,850 by noon.

Selling pressure persisted in the second half, dragging Nifty steadily lower. The index slipped below the 23,800 mark after 1 PM and continued to drift lower, testing the 23,740–23,760 zone by around 2 PM.

A brief recovery attempt around 2:30 PM helped Nifty reclaim some ground and move back toward the 23,790–23,800 zone. However, the bounce proved short-lived as sharp selling emerged in the last 30 minutes, with reports suggesting MSCI rebalancing-based selling, which dragged the index to the day’s low near 23,490–23,500.

A strong recovery in the last few minutes helped trim some of the losses, with Nifty ending the day at 23,547.75.

The session was marked by steady weakness through most of the day, a sharp late sell-off, and a small recovery into the close, reflecting heightened volatility and uncertainty amid conflicting global developments.

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 2nd June:

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

• The maximum Put Open Interest (OI) is observed at 23,200, followed by 23,500, suggesting support at 23,400-23,300.

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 strongest single-day gain in nearly two months, rising 0.7% to close at 95/$, supported by lower oil prices and likely intervention by the Reserve Bank of India. Dive deeper

India Meteorological Department reiterated its forecast of a weaker-than-normal monsoon, projecting rainfall at 90% of the Long Period Average during the June–September 2026 season. The agency said most parts of India are likely to receive below-normal rainfall in June. Dive deeper

Wipro shares gained after the company expanded its partnership with ServiceNow to deploy agentic AI workflows across IT, HR, procurement, and cybersecurity functions. The collaboration will integrate Wipro Intelligence with the ServiceNow AI Platform to automate enterprise operations and improve workflow efficiency. Dive deeper

InterGlobe Aviation reported a Q4FY26 net loss of ₹2,537 crore, compared with a profit of ₹3,068 crore a year earlier, as sharp rupee depreciation, labour law changes, and a challenging operating environment weighed on earnings. Total income, however, rose over 3% YoY to ₹23,831 crore. Dive deeper

Delta Corp shares plunged more than 16% after the Supreme Court of India upheld the government's retrospective 28% GST levy on online gaming, betting, and gambling activities, raising concerns over the company’s tax liabilities and future profitability. Dive deeper

Asian Paints reported a strong Q4FY26 performance, with consolidated net profit rising 69.3% YoY to ₹1,172 crore. Net sales grew 10.8% to ₹9,229 crore, and the company recommended a final dividend of ₹23 per share for FY26. Dive deeper

Delhi High Court held that Google cannot allow competing companies to bid on the trademarked keyword “HINDWARE,” potentially reshaping how brands use competitor keyword targeting in online advertising. Dive deeper

Top Stories Globally

WTI crude oil futures fell about 2% to $87.2/bbl, their lowest level in roughly six weeks, as reports suggested the United States and Iran had reached a preliminary agreement to extend a ceasefire and ease shipping restrictions through the Strait of Hormuz. Oil is now on track for a 17% decline in May, though the proposed deal has not yet been formally approved or finalized. Dive deeper

Anthropic has become the most valuable AI company in Silicon Valley after raising $65 billion in a Series H funding round at a $965 billion valuation. The new valuation surpasses that of rival OpenAI and nearly triples Anthropic’s valuation from February, with backing from investors including Amazon, Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital. Dive deeper

Blue Origin suffered a major setback after its New Glenn rocket exploded during a static fire test at Cape Canaveral ahead of a planned launch. The company confirmed the incident, saying all personnel were safe, while founder Jeff Bezos said it was too early to determine the cause and that the company would rebuild and resume operations. Dive deeper

LG Electronics shares surged nearly 24% after the company unveiled new automotive solutions developed with technology from Google. The Android-based platform enables multiple in-vehicle displays to be controlled through a single chip, helping automakers reduce the cost of deploying advanced cabin systems. Dive deeper

Dell Technologies shares surged nearly 40% in premarket trading after strong demand for its AI servers powered by NVIDIA prompted the company to raise its full-year revenue and profit forecasts. The rally was set to add more than $81 billion to Dell’s market value. Dive deeper

Pfizer and China’s Innovent Biologics have signed a global oncology partnership worth up to $10.5 billion. The deal includes a $650 million upfront payment and covers 12 cancer drug programs, combining Innovent’s early-stage assets with Pfizer’s discovery initiatives. Dive deeper

Management Chatter

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

Benedetto Vigna, CEO of Ferrari, has defended the 550,000-euro price of the company's first fully electric vehicle:

“You have to see Luce to understand that it has nothing to do with Chinese EVs or those by other brands.”

"If you see it and try it, you immediately understand it was not copied, and it has ​nothing to share with other EVs you have seen ​and are ⁠produced by others, in terms of interiors, exterior, and performance." - Link

Peter ter Kulve, CEO of Magnum Ice Cream Company global on transitioning to fully dairy-based ice cream:

“We are not a frozen dessert company anywhere in the world; we are an ice cream company. In India, we changed everything, everything.”

There is no way to ensure good cost, quality, and service when an ice cream is coming out of one place – Nashik – for the entire country. “In Turkey we have one cabinet for every 350 people. Ultimately I will need a million cabinets in India,” - Link

Corporate Actions & Events

Corporate Actions

Earnings Calendar

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 sit down with Nick Radge, a veteran trader and systematic strategist with nearly 40 years of market experience. From starting as a clerk in 1985 to working at global desks like HSBC and Macquarie, Nick later founded The Chartist and now manages the All Weather Fund.

We trace his evolution from hand-drawn charts in the 1980s to running nine global momentum and trend-following strategies today, exploring why factor momentum dominates his approach and how he builds portfolios to survive volatile markets.

Check out In The Money

Markets Today

Nifty opened with a small 34-point gap down at 23,880, extending yesterday’s dull momentum despite positive global cues. The index saw sharp volatility in the first hour with multiple zig-zag moves between 23,870 and 23,920.

After a range-bound first hour, Nifty climbed steadily toward the 23,960–23,980 range by around 11:30 AM, marking the day’s high.

However, the momentum faded in the second half as the index turned choppy and gradually drifted lower. Nifty oscillated in a broad 23,890–23,930 range through most of the afternoon, with intermittent recovery attempts failing to sustain.

Selling pressure intensified briefly in the final hour, dragging the index toward the 23,860–23,880 zone, before a late rebound helped Nifty eventually close flat at 23,907.15.

The session was marked by a strong morning recovery, followed by a volatile and range-bound second half, with the index once again struggling in a narrow range.

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 the 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 2nd June:

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

• The maximum Put Open Interest (OI) is observed at 23,900, 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

Air India will reduce up to 22% of its domestic flights and around 27% of international services between June and August 2026 amid rising operational costs driven by elevated fuel prices. The airline said it is temporarily rationalising frequencies on select routes as part of broader operational adjustments. Dive deeper

Senco Gold reported a sharp 151% YoY jump in Q4FY26 net profit to ₹156.9 crore, while sales rose nearly 45% to ₹1,996.7 crore. Dive deeper

Coal India shares fell over 6% after the government launched an offer for sale (OFS) to divest up to a 2% stake in the PSU at a 10% discount. The issue opened for non-retail investors first, with the retail portion scheduled to open on May 29. Dive deeper

ONGC reported a 53% YoY rise in consolidated Q4FY26 net profit to around ₹13,678 crore, supported by higher crude oil prices. The company’s gross revenue rose to ₹1.74 lakh crore, while net realisation from nominated fields increased 6% YoY to $78.32 per barrel during the quarter. Dive deeper

Gillette India reported a 21.3% YoY rise in Q4 profit to ₹193 crore, supported by steady demand for grooming products and lower costs. Dive deeper

The Ministry of Defence has issued a Request for Proposal for the indigenous fifth-generation Advanced Medium Combat Aircraft (AMCA) project to shortlisted bidders including Larsen & Toubro-Bharat Electronics, Tata Advanced Systems, and Bharat Forge-BEML consortiums. Dive deeper

Supreme Court of India upheld the GST framework taxing online gaming, betting, and gambling activities on the full face value of bets and stakes, dealing a major setback to India’s gaming industry. Dive deeper

Power sector stocks rallied sharply, with the BSE Power Index hitting a record high amid strong demand and robust order books. Shares of companies including Adani Power, Bharat Heavy Electricals, CG Power and Industrial Solutions, GE Vernova T&D India, Hitachi Energy India, and Siemens Energy India touched fresh all-time highs. Dive deeper

Top Stories Globally

WTI crude oil futures plunged 6% to around $88.3/bbl after Iranian state television said Tehran is committed to restoring commercial shipping through the Strait of Hormuz to pre-war levels within a month. Dive deeper

Reports from Iranian state media suggest the United States and Iran are discussing a draft framework aimed at easing tensions in the Middle East and restoring stability in the Strait of Hormuz. The proposal reportedly includes restoring commercial shipping flows within 30 days under coordination between Iran and Oman, though US military vessels may remain outside the arrangement. Dive deeper

SK Hynix crossed the $1 trillion market value mark for the first time as AI-driven demand continued to fuel a rally in memory chip stocks. The surge in SK Hynix shares also helped push KOSPI to a record high. Dive deeper

Gold prices fell about 2% to around $4,400/oz, hitting their lowest level in nearly two months, as easing oil prices reduced fears of another inflation spike. Dive deeper

Management Chatter

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

SEBI Chairman Tuhin Kanta Pandey, on the Indian markets after Taiwan surpassing our markets:

“India is a very, very diversified market. In Taiwan, there are concentrated stocks. There are very few. There are specific companies. The TSMC and others, which are very, very critical to the electronic supply chain, they are getting a lot more flows and leading to their higher valuations. I don't have to comment on this. This is something which goes on in a capital market.” - Link

Jensen Huang, CEO and Founder of Nvidia, on Taiwan:

"Taiwan is the epicentre of the AI revolution. This is where the chips come, ​packaging comes, this is where the systems are made, this is where AI supercomputers were created. The number of partners we work with here in ‌Taiwan, incredible."

"Four years ago, five years ago, Nvidia was spending about 10, 15 billion dollars a year in Taiwan. Now we're spending 100, going to 150 billion dollars in Taiwan each year," - Link

Corporate Actions & Events

Corporate Actions

Earnings Calendar

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 sit down with Nick Radge, a veteran trader and systematic strategist with nearly 40 years of market experience. From starting as a clerk in 1985 to working at global desks like HSBC and Macquarie, Nick later founded The Chartist and now manages the All Weather Fund.

We trace his evolution from hand-drawn charts in the 1980s to running nine global momentum and trend-following strategies today, exploring why factor momentum dominates his approach and how he builds portfolios to survive volatile markets.

Check out In The Money

Markets Today

Nifty opened with a small 28-point gap down at 24,004, tracking shaky global cues after the US renewed military operations in southern Iran, even as crude oil prices remained only marginally higher. The index saw some early strength, climbing toward the 24,070–24,080 zone within the first hour.

However, the momentum faded quickly, and Nifty gradually drifted lower through the late morning session, slipping below the 24,000 mark around 12:30 PM and continued to weaken steadily.

In the second half, selling pressure intensified further, dragging Nifty toward the 23,950 zone by around 2 PM. The decline accelerated post 2 PM, with the index slipping sharply toward the 23,890–23,900 range, marking the day’s low in the final hour.

Despite a mild recovery attempt in the last 30 minutes, Nifty closed the day near the lows at 23,913.70. The session was marked by a weak second half, persistent selling pressure, and a lack of follow-through on 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 the 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 2nd June:

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

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

Adani Green Energy has commissioned a 3.37 GWh battery energy storage system at Khavda in Gujarat, making it the world’s largest single-location battery storage deployment outside China. The utility-scale project was completed within 10 months and significantly expands the company’s renewable energy storage capacity. Dive deeper

Marico has entered India’s shampoo market with the launch of Parachute Advansed Protein Shampoo. The range includes eight variants and a ₹1 sachet aimed at driving mass adoption across retail and e-commerce channels. Dive deeper

One MobiKwik Systems shares rose 4% after the company received in-principle approval from the RBI for a Payment Aggregator-Physical (PA-P) licence, strengthening its offline merchant payments business. Dive deeper

Larsen & Toubro said its subsidiary L&T GeoStructure has secured multiple domestic orders, including a contract from JSW Utkal Steel and two projects from the Inland Waterways Authority of India. Dive deeper

India has reportedly cancelled soymeal export contracts and begun importing soybeans for the first time in nearly five years as domestic prices surged amid tightening supplies. Local soymeal prices have jumped around 41% in a month to four-year highs, making export commitments unviable for traders. Dive deeper

BSNL’s revenue has risen nearly 19% to ₹25,000 crore over the past two years, driven by infrastructure improvements. The company also reported a sharp jump in EBITDA to nearly ₹7,000 crore from just ₹50 crore, indicating significant operational improvement. Dive deeper

Top Stories Globally

WTI crude oil futures traded below $93/bbl, near a five-week low, as markets weighed optimism around ongoing US-Iran negotiations against renewed military operations in southern Iran. Dive deeper

Taiwan has overtaken India to become the world’s fifth-largest equity market by market capitalisation, driven largely by the AI-fuelled rally in Taiwan Semiconductor Manufacturing Company. Taiwan’s market cap now stands at about $4.95 trillion, slightly ahead of India’s $4.92 trillion. Dive deeper

Xiaomi reported a sharper-than-expected decline in Q1 2026 earnings, with net profit plunging 57% to 4.72 billion yuan as rising memory chip prices hurt its smartphone business. Revenue fell 11%, marking the company’s first quarterly sales decline in nearly three years. Dive deeper

The yield on the US 10-year Treasury note fell around 6 basis points to 4.5% as investors grew cautiously optimistic that the US and Iran could still reach a near-term agreement despite ongoing tensions and recent military strikes. Dive deeper

Quad members India, the United States, Australia, and Japan have signed a framework to mobilise up to $20 billion for strengthening critical mineral supply chains across mining, processing, and recycling. The initiative aims to reduce dependence on China and improve resilience in strategic technologies and industrial supply chains. Dive deeper

Central Bank of Sri Lanka surprised markets with a 100-basis-point rate hike to 8.75%, its biggest increase in three years, as rising energy costs and currency weakness intensified inflationary pressures. The central bank also signalled the possibility of further tightening amid the ongoing geopolitical crisis in West Asia. Dive deeper

Management Chatter

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

OpenAI CEO Sam Altman, CEO of OpenAI believes that AI would not lead to a global "jobs apocalypse" :

“I’m delighted to ⁠be wrong about this. I thought there would have been more impact on entry-level white-collar jobs being eliminated by now than ​has actually happened.”

“People are like ‘oh you could have saved the world a lot of fear mongering and a lot of doom and gloom’ but at the time I was like ‘I see this is a real risk we should probably ​talk about it’ and it still may.”

“I don’t think we’re going to have the kind ​of jobs apocalypse that some of the companies in our space advocate or talk about.” - Link

Coal India assures that, despite peak summer, the coal stock is sufficient to meet demand:

Coal stocks at domestic coal-based plants stood at 47.6 million tonne (MT) as on May 23, while the coal inventory at Coal India’s own mine heads was at a comfortable level of 113.5 MT as on May 24, higher by 10 per cent year-on-year

“This level is sufficient to meet 19 days of consumption. Added to this, around 3 MTs of coal are awaiting at transit points such as goods sheds, private washeries and ports.” - Link

Corporate Actions & Events

Corporate Actions

Earnings Calendar

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 sit down with Nick Radge, a veteran trader and systematic strategist with nearly 40 years of market experience. From starting as a clerk in 1985 to working at global desks like HSBC and Macquarie, Nick later founded The Chartist and now manages the All Weather Fund.

We trace his evolution from hand-drawn charts in the 1980s to running nine global momentum and trend-following strategies today, exploring why factor momentum dominates his approach and how he builds portfolios to survive volatile markets.

Check out In The Money

Markets Today

Nifty opened with a big gap up of 221 points at 23,940, tracking a sharp 5% decline in crude oil prices after both the US and Iran signalled progress in peace talks.

After the initial swings, Nifty moved into a narrow range through the late morning session, hovering largely between 23,950 and 23,980 with a slight positive bias. The index briefly dipped toward the 23,940 zone around 12:30 PM before recovering steadily.

In the second half, buying momentum strengthened gradually. Nifty reclaimed the 24,000 mark after 2:30 PM and extended gains sharply in the final hour, climbing toward the 24,040–24,050 zone and eventually closing near the day’s high at 24,031.70.

The session was marked by a strong gap-up opening, a prolonged consolidation phase, and a sharp late rally driven by easing crude prices and improving global 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 the 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 26th May:

• The maximum Call Open Interest (OI) is observed at 24,500, 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 23,900, 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 strengthened for a third consecutive session, appreciating 35 paise to close at 95.25/$ amid optimism around a potential US-Iran peace deal and easing pressure from oil prices. Comments from the Governor, who said the RBI would do “whatever is required” to ensure orderly forex market conditions, also supported sentiment. Dive deeper

Petrol and diesel prices were raised again by ₹2.61–2.71/litre, marking the fourth hike in under two weeks as state-run fuel retailers continued passing on higher global crude oil prices to consumers. Cumulative fuel price increases have now approached ₹7.5/litre since revisions resumed on May 15, raising concerns around inflation and transportation costs. Dive deeper

Suzlon Energy reported a 5.7% YoY fall in Q4 net profit to ₹1,114 crore, despite strong growth in revenue and operating earnings driven by higher wind turbine deliveries. Revenue rose nearly 45% to ₹5,468 crore, while EBITDA margins narrowed to 17.6%. Dive deeper

HCLTech and Pegasystems have expanded their partnership to help enterprises modernize legacy systems using AI-driven tools. The collaboration combines HCLTech AI Force with Pega Blueprint to automate the discovery, documentation, and transformation of older enterprise applications into cloud-native, AI-powered systems. Dive deeper

Anupam Rasayan India has agreed to acquire up to a 43.3% stake in Bliss GVS Pharma for about ₹1,369.5 crore. The company will also launch a mandatory open offer to acquire an additional 26% stake from public shareholders at ₹299 per share. Dive deeper

NBCC reported a 37.2% YoY jump in Q4FY26 net profit to ₹241 crore. However, revenue declined 1.8% to ₹4,560 crore, while EBITDA and margins remained largely flat during the quarter. Dive deeper

India’s defence sector remained in focus after Rajnath Singh said the private sector should eventually contribute at least 50% of the country’s defence manufacturing capacity, up from around 30% currently, as the government accelerates efforts to boost domestic military production. Dive deeper

Sterlite Technologies extended its sharp rally in 2026 after announcing a multi-year product award worth over $1 billion to supply optical connectivity products for AI data centre build-outs through one of its subsidiaries. Dive deeper

Top Stories Globally

Oil prices plunged more than 5.5% to two-week lows as optimism increased over a possible US-Iran peace deal, easing concerns around prolonged supply disruptions. Brent crude fell below $95/bbl while WTI dropped near $91/bbl, despite unresolved disagreements over restrictions in the Strait of Hormuz. Dive deeper

Gold prices rose sharply, with spot gold climbing 1.2% to around $4,562/oz, as hopes for a potential US-Iran peace deal pushed oil prices lower and improved sentiment toward safe-haven assets. However, gains remained capped by expectations that central banks may keep interest rates higher for longer to counter lingering energy-driven inflation pressures. Dive deeper

Huawei Technologies said it aims to produce industry-leading semiconductors using a new technology within five years, highlighting China’s push to overcome US sanctions and strengthen its domestic chip capabilities. The company claimed its advanced chips could achieve transistor density equivalent to 1.4-nanometre processes by 2031. Dive deeper

Chinese coking coal prices climbed to their highest level in nearly two weeks after tighter safety inspections at coal mines, following a fatal mining accident, raised concerns about potential supply disruptions in key production regions. Dive deeper

Delivery Hero shares climbed to an 18-month high after the company disclosed receiving an indicative offer from Uber, with reports suggesting Uber could potentially raise its bid. Dive deeper

Management Chatter

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

Sanjay Malhotra, Governor of RBI, on the Rupee and Balance of Payment situation:

“With the recent depreciation, it would be reasonable to think that the rupee is not overvalued. If anything, one could argue that the rupee has become undervalued.”

“It’s not an undue concern, yet it requires some attention in the form of concerted efforts by the government, RBI, and all institutions concerned.” - Link

Finance Minister Nirmala Sitharaman, on the impact of the West Asian crisis:

“We should please understand the context of these three Fs: Fuel, fertiliser, and foreign exchange. To just put it in context, all these three payments will have to be in foreign exchange. There is no rupee trading there.”

“For businesses and common people, it can mean higher fuel costs, delayed cargo, costlier shipping, shortage of inputs, pressure on working capital, and uncertainty in export orders.”

“India cannot afford fear-mongering. We need to give confidence to the people with our words and with our actions.” - Link

Corporate Actions & Events

Corporate Actions

Earnings Calendar

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, from Friedrich Hayek’s 1945 insight that prices aggregate dispersed knowledge, to Kenneth Arrow’s state-contingent securities, and Eugene Fama’s Efficient Market Hypothesis — the intellectual foundations of prediction markets run surprisingly deep.

We trace how these ideas were brought to life, from a bar conversation in Iowa City that became the Iowa Electronic Markets to the billion-dollar platforms Kalshi and Polymarket, navigating regulatory battles with the CFTC in the US today.

This episode also examines what all of this means for India — a country where prediction markets don’t yet exist, but where Indian events are already being actively traded on platforms thousands of miles away, and where global funds may be using these prices as live intelligence on our own political and economic outcomes.

Check out In The Money

Markets Today

Nifty opened with a small 16-point gap up at 23,671 despite strong overnight gains in global markets, as crude oil prices continued to cool on reports of further progress in geopolitical talks. The index saw a strong start, testing the 23,800 zone in the opening hour.

After multiple rangebound moves between 23,750 and 23,800 throughout the first half, Nifty gradually moved higher, climbing toward the 23,835 zone around 1 PM, marking the day’s high.

However, the momentum faded in the second half as profit-booking emerged. The index gradually drifted lower, slipping below the 23,750 mark and testing the 23,700–23,720 zone in the final hour, and eventually closed the day at 23,719.30.

The session was marked by a firm first half supported by positive global cues, followed by a gradual second-half decline as the index once again failed to sustain higher levels despite supportive external factors.

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 the 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 26th May:

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

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

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

Source: Sensibull

Top Stories in India

Rupee strengthened for a second straight session, closing at 95.73/$, supported by softer crude oil prices, positive domestic equities, and easing US Treasury yields. Comments from Marco Rubio suggesting progress in diplomacy around the Iran situation also improved market sentiment. DIve deeper

RBI approved a record surplus transfer of ₹2.87 trillion to the central government for FY26, up nearly 7% from the previous year. The higher payout was supported by a sharp rise in the RBI’s income and expansion of its balance sheet. Dive deeper

RBI said India’s forex reserves fell by $8.09 billion to $688.89 billion in the week ended May 15. The decline comes after reserves had previously touched a record high of $728.49 billion before the Middle East conflict triggered pressure on the rupee and prompted RBI intervention through dollar sales. Dive deeper

Eicher Motors reported a 12% YoY rise in Q4 net profit to ₹1,520 crore, driven by strong performance from Royal Enfield. Revenue increased 16% to ₹6,080 crore, while operating margins improved to 24.9%. Dive deeper

Colgate-Palmolive India reported a largely flat Q4FY26 profit of ₹353 crore as margin pressure offset revenue growth. Revenue from operations rose 7.3% YoY to ₹1,595 crore, while EBITDA margins contracted sharply to 31.9% from 35.1%. The company also announced a second interim dividend of ₹24 per share. Dive deeper

Oil India announced a fresh natural gas discovery in Rajasthan’s Dandewala field, amid growing concerns over global energy supply disruptions linked to the West Asia conflict. The company said the well recorded an average gas inflow of 25,000 standard cubic metres per day, indicating encouraging production potential. Dive deeper

India’s electricity demand hit another record high, with daytime peak demand touching 270.82 GW amid an intense heatwave across several regions. The Union Power Ministry urged citizens to use electricity judiciously as demand has climbed steadily for four consecutive days. Dive deeper

Sun Pharmaceutical Industries reported a 26.2% YoY rise in Q4FY26 net profit to ₹2,714 crore, while sales increased 13.6% to ₹14,559 crore. The company’s global innovative medicines business generated $354 million in sales, accounting for over 22% of total revenue. Dive deeper

Top Stories Globally

WTI crude futures traded around $96/bbl, trimming earlier gains as optimism resurfaced over a potential US-Iran diplomatic breakthrough. Marco Rubio said there had been “slight progress” in talks with Iran, while Tehran is reviewing the latest US proposal delivered through Pakistan. Dive deeper

Japan’s core inflation slowed to a four-year low of 1.4% in April, helped by government subsidies on fuel and education costs. However, analysts expect inflationary pressures to pick up again in the coming months as higher energy prices linked to the Middle East conflict begin feeding into the economy. Dive deeper

European steel production fell 2.6% YoY in April, reflecting continued weakness across the EU and UK markets, according to Morgan Stanley. Globally, steel production declined 2%, with China’s output down 3%, while growth remained concentrated in countries such as India, Turkey, and the United States. Dive deeper

United Kingdom retail sales volumes fell 1.3% month-on-month in April 2026, a sharper decline than expected and the biggest drop since May 2025. The weakness was largely driven by a steep fall in fuel sales as higher prices discouraged travel and refuelling. Dive deeper

Turkey’s financial markets came under pressure amid rising political uncertainty, with the benchmark Borsa Istanbul index plunging over 6% and triggering a market-wide circuit breaker. The Turkish lira also weakened to around 45.74 against the US dollar, while government bonds declined. Dive deeper

Management Chatter

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

Kumar Rajagopalan, Executive Director and CEO, Retailers Association of India (RAI), on steady demand across categories and regions:

“Retail in India has witnessed a modest 7 per cent growth in April ‘26. Decent but not exciting. Global cost pressures are real, and they are showing up in how businesses are operating across categories. India has navigated these pressures better than many others. Consumers still want to spend — that intent is there, and that matters. But retailers are being careful, and rightly so.” - Link

Arvind Panagariya, Chairman of the 16th Finance Commission and former vice-chairman of NITI Aayog, is suggesting RBI on the rupee slide:

“Do not let the psychology of Rs 100 per dollar determine your policy response. 100 is just a number, like 99 and 101,”

Whether the oil shortage is short-lived or long-lived, the right response at this moment is to let the rupee depreciate. If the shortage is short-lived, that is, for three months to a year, the rupee will substantially recover once the oil import bill shrinks.

“Trying to defend the rupee will continue to bleed the reserves until they are exhausted.” - Link

Corporate Actions & Events

Corporate Actions

Earnings Calendar

Published by Zerodha. Not investment advice. Data from NSE, BSE, 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, from Friedrich Hayek’s 1945 insight that prices aggregate dispersed knowledge, to Kenneth Arrow’s state-contingent securities, and Eugene Fama’s Efficient Market Hypothesis — the intellectual foundations of prediction markets run surprisingly deep.

We trace how these ideas were brought to life, from a bar conversation in Iowa City that became the Iowa Electronic Markets to the billion-dollar platforms Kalshi and Polymarket, navigating regulatory battles with the CFTC in the US today.

This episode also examines what all of this means for India — a country where prediction markets don’t yet exist, but where Indian events are already being actively traded on platforms thousands of miles away, and where global funds may be using these prices as live intelligence on our own political and economic outcomes.

Check out In The Money

Markets Today

Nifty opened with a sharp gap up of 171 points at 23,830, tracking positive global cues after crude oil prices fell by more than 5% on signs of progress in US–Iran talks. However, the early optimism faded quickly as the index slipped from opening highs and gradually drifted lower toward the 23,750–23,800 zone in the opening hour. Selling pressure intensified toward noon, dragging Nifty sharply lower toward the 23,600–23,620 range by around 1 PM, marking the day’s low.

In the second half, the index remained volatile with intermittent recovery attempts. Nifty briefly rebounded toward the 23,700 mark around 2:30 PM, but the move failed to sustain as the index continued to trade with a weak bias through most of the afternoon and eventually closed flat at 23,654.70.

The session was marked by a strong opening followed by persistent profit-booking and choppy trade through the second half, resulting in a weak close despite supportive global cues.

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 the 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 26th May:

• The maximum Call Open Interest (OI) is observed at 24,000, followed by 23,800 & 23,700, indicating potential resistance at the 23,800 -23,900 levels.

• The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,700, suggesting support at 23,500-23,400.

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 rebounded 49 paise from its record closing low to settle at 96.37/$, supported by easing crude oil prices and likely intervention by the central bank. Improved geopolitical sentiment also helped reduce pressure on the currency. Dive deeper

ITC reported a 5% YoY rise in Q4 consolidated net profit to ₹5,113 crore, while EBITDA increased 7.2% to ₹6,426 crore. However, revenue from operations declined 7% YoY to ₹16,050 crore during the quarter. Dive deeper

India’s peak power demand touched a record 265.44 GW on Wednesday as an ongoing heat wave boosted usage of air-conditioners and cooling devices. Demand has been hitting fresh highs each day this week, rising from 257.37 GW on Monday to 260.45 GW on Tuesday before setting a new record. Dive deeper

FSN E-Commerce Ventures (Nykaa) reported a sharp 286% YoY jump in Q4FY26 consolidated net profit to ₹78 crore. Revenue from operations rose 28% to ₹2,648 crore, driven by continued growth across beauty and fashion segments. Dive deeper

WeWork India Management shares jumped 19% after the company reported a 79.5% YoY rise in Q4FY26 net profit to ₹65.5 crore. Revenue increased 29% to ₹696 crore, while EBITDA rose over 30% to ₹450 crore. Dive deeper

Emami reported an 11.7% YoY decline in Q4FY26 net profit to ₹143 crore. Revenue fell 3.9% to ₹925 crore, while EBITDA margins contracted by 260 basis points to 20.2%, reflecting weaker operational performance. Dive deeper

Adani Power said it will acquire a 24% stake in Jaiprakash Power Ventures and other thermal assets from Jaiprakash Associates for about ₹4,193.59 crore. Dive deeper

Honasa Consumer reported a 178% YoY jump in Q4FY26 consolidated net profit to ₹69.4 crore, while revenue from operations rose over 23% to ₹657 crore. For the full year, the company’s profit increased 176% to ₹200 crore. Dive deeper

Top Stories Globally

WTI crude futures rebounded around 2% to trade above $100/bbl as uncertainty around US-Iran negotiations continued to keep markets on edge. Reports that Iran’s Supreme Leader rejected sending the country’s near-weapons-grade uranium abroad hardened Tehran’s stance and raised doubts over a near-term agreement or full reopening of the Strait of Hormuz. Dive deeper

NVIDIA reported another record quarter, with revenue surging 85% YoY to $81.6 billion and net profit more than tripling to $58.3 billion, underscoring continued strength in the AI boom. Despite the strong results, shares slipped in after-hours trading as investors weighed rising competition and increasingly high expectations for the chipmaker. Dive deeper

South Korea’s stock market surged, with the KOSPI jumping 8.4% in its biggest one-day gain since April, after Samsung Electronics reached a pay agreement with its labour union and avoided a major strike. Samsung shares hit a record high, easing fears of disruption to global semiconductor supply chains. Dive deeper

The dollar index rose above 99.2, nearing April highs, as uncertainty around US-Iran negotiations and continued disruptions in the Strait of Hormuz kept oil prices elevated and revived inflation concerns. Markets increasingly fear that persistent energy-driven inflation could force central banks to keep rates higher for longer. Dive deeper

Novo Nordisk has introduced a higher-dose version of Wegovy, expanding its semaglutide portfolio and offering more treatment options for obesity patients. The company also said it plans to bring the higher dose to India, even as semaglutide faces rising generic competition in markets including India. Dive deeper

Management Chatter

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

Chandrajit Banerjee, Director General, Confederation of Indian Industry (CII), wants a coordinated policy on what it calls the Indian "3Fs" challenge: fuel, fertiliser, and food:

"The 3Fs are not three disparate pressures. Fuel feeds into fertilizer, fertilizer feeds into food, and all three feed into inflation, fiscal stress, and household welfare. That is why we believe it helps to treat this as a single, integrated economic challenge so that it makes navigating external shocks that much easier,"

"If we use this moment wisely, we can be a much more resilient economy. The 3Fs will stand for sustained growth today and better preparedness for the unknown tomorrow." - Link

Commerce and Industry Minister Piyush Goyal on containing the widening of the current account deficit (CAD):

"We are monitoring the situation. All the various arms of the government are working as a team. Several steps are under consideration. The situation globally is quite challenging, but we have the confidence and courage of conviction that we will come out winners even in this challenging time." - Link

Corporate Actions & Events

Corporate Actions

Earnings Calendar

Published by Zerodha. Not investment advice. Data from NSE, BSE, 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, from Friedrich Hayek’s 1945 insight that prices aggregate dispersed knowledge, to Kenneth Arrow’s state-contingent securities, and Eugene Fama’s Efficient Market Hypothesis — the intellectual foundations of prediction markets run surprisingly deep.

We trace how these ideas were brought to life, from a bar conversation in Iowa City that became the Iowa Electronic Markets to the billion-dollar platforms Kalshi and Polymarket, navigating regulatory battles with the CFTC in the US today.

This episode also examines what all of this means for India — a country where prediction markets don’t yet exist, but where Indian events are already being actively traded on platforms thousands of miles away, and where global funds may be using these prices as live intelligence on our own political and economic outcomes.

Check out In The Money

Markets Today

Nifty opened with a sharp gap down of 161 points at 23,457, tracking shaky global markets amid a sharp rise in bond yields and firm crude oil prices above $100 per barrel. The index saw heavy volatility in the opening hour, briefly slipping toward the 23,400-420 zone before recovering steadily toward the 23,550 mark.

After the early swings, Nifty gradually moved higher, reclaiming the 23,600 mark by around noon and largely holding those levels despite intermittent pullbacks.

In the second half, momentum remained positive as the index continued to inch higher. Nifty climbed toward the 23,650–23,680 zone after 2 PM and stayed near the day’s highs before a brief dip around 3 PM dragged the index toward the 23,640 mark, but buyers quickly stepped in, helping Nifty close the day firmly at 23,659.

The session was marked by a sharp recovery from a weak opening, with steady buying through the day helping the index shrug off negative global cues and elevated crude 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 the 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 26th May:

• The maximum Call Open Interest (OI) is observed at 24,000, followed by 23,700, indicating potential resistance at the 23,800 -23,900 levels.

• The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,400, suggesting support at 23,500-23,400.

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 government said the recent ₹3/litre hike in petrol and diesel prices has reduced daily losses of state-run OMCs by nearly 25%, lowering under-recoveries from about ₹1,000 crore to ₹750 crore per day. Dive deeper

The Indian rupee weakened to a fresh record low of 96.96/$ as stalled US-Iran peace talks kept oil prices elevated, worsening concerns around inflation and India’s import bill. The currency ended the session at 96.82/$. Dive deeper

Ola Electric Mobility reported a narrower Q4FY26 net loss of ₹500 crore compared to ₹870 crore a year earlier. However, revenue declined 56% YoY to ₹265 crore, while EBITDA losses improved to ₹281 crore from ₹695 crore in the previous fiscal. Dive deeper

National Commodities and Derivatives Exchange(NCDEX) announced the launch of India’s first SEBI-approved exchange-traded weather derivatives contract, “RAINMUMBAI”, starting June 1, 2026. The product is designed to help participants hedge financial risks arising from fluctuations in monsoon rainfall. Dive deeper

Jubilant FoodWorks reported a 67% YoY rise in consolidated Q4 net profit to ₹82.42 crore, while revenue from operations increased to ₹2,499 crore from ₹2,095 crore a year earlier. Dive deeper

Andhra Pradesh has approved the allocation of the 2,250 MW Gandikota-2 Pumped Storage Project in YSR Kadapa district to Adani Hydro Energy Eleven. The project is expected to become one of India’s largest pumped storage facilities and strengthen long-duration renewable energy infrastructure. Dive deeper

Grasim Industries reported an improved standalone Q4FY26 performance, with net loss narrowing to ₹164 crore from ₹288 crore a year ago. Revenue jumped 32% to ₹11,774 crore, while EBITDA more than doubled and margins expanded to 4.6%. Dive deeper

Lenskart reported an 8.5% YoY decline in Q4FY26 net profit to ₹200 crore, while revenue surged 45.6% to ₹2,516 crore. Operational performance remained strong, with EBITDA rising 84% and margins expanding to 21.4%. Dive deeper

Top Stories Globally

WTI crude futures fell for a second consecutive session to around $102/bbl as markets turned cautiously optimistic about a potential US-Iran agreement. Donald Trump said the conflict could end “very quickly,” though he also warned that the US could resume strikes if negotiations break down. Dive deeper

US equity futures moved higher ahead of NVIDIA’s earnings, with investors looking for fresh signals on the strength of AI-driven demand. Futures on the S&P 500 and Nasdaq 100 rose 0.4%, while Nvidia shares gained in premarket trading as markets awaited guidance that could influence the broader tech sector. Dive deeper

Meta Platforms has begun laying off around 8,000 employees globally as part of a restructuring aimed at cutting costs and improving efficiency while ramping up investments in artificial intelligence. The layoffs are expected to impact engineering and product teams the most, with further job cuts possible later this year. Dive deeper

Samsung Electronics and its labour union failed to reach a wage agreement, raising the prospect of a strike involving around 48,000 workers. The walkout could disrupt global semiconductor supply chains and add pressure to South Korea’s economy. Dive deeper

Bank Indonesia raised its benchmark interest rate by 50 basis points to 5.25% in May 2026, a bigger-than-expected move aimed at supporting the rupiah and containing imported inflation pressures. The hike marked the central bank’s first rate increase since April 2024. Dive deeper

Management Chatter

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

Sanjay Khanna, Chairman and MD, BPCL, on Petrol and Diesel under-recoveries:

“Diesel… some days it is ₹25, some days ₹30 or ₹32. Petrol is still around ₹10-14 per litre, though it changes every day.”

“Earlier, freight rates from the Persian Gulf to India were around $2-3. Today it is almost $10. Insurance costs have gone up. Saudi OSP premiums are around $18.”

“If everything comes back to normal and crude reaches around the $85 level, then we can say we reach break-even.”

“Generally, we keep around 25-27 days of crude inventory, but due to the situation, we are keeping slightly higher inventory, around 27-30 days.” - Link

Mohit Singla, Chairman of Trade Promotion Council of India (TPCI), on increasing food & beverages exports to the UAE:

UAE is among the world’s most food import-dependent countries, importing almost 85 to 90 per cent of its needs and relying heavily on imported food products to meet consumer demand.

“India is widely regarded as one of the UAE’s most dependable food suppliers with almost 10 per cent market share. With the strengthening of India-UAE trade ties and growing investments in food processing, logistics, and quality systems, India is well-positioned to further expand its share in the UAE’s food and beverage import market while reinforcing its reputation as a reliable and compliant supplier.” - Link

Corporate Actions & Events

Corporate Actions

Earnings Calendar

Published by Zerodha. Not investment advice. Data from NSE, BSE, 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, from Friedrich Hayek’s 1945 insight that prices aggregate dispersed knowledge, to Kenneth Arrow’s state-contingent securities, and Eugene Fama’s Efficient Market Hypothesis — the intellectual foundations of prediction markets run surprisingly deep.

We trace how these ideas were brought to life, from a bar conversation in Iowa City that became the Iowa Electronic Markets to the billion-dollar platforms Kalshi and Polymarket, navigating regulatory battles with the CFTC in the US today.

This episode also examines what all of this means for India — a country where prediction markets don’t yet exist, but where Indian events are already being actively traded on platforms thousands of miles away, and where global funds may be using these prices as live intelligence on our own political and economic outcomes.

Check out In The Money

Markets Today

Nifty opened with a small gap up of 25 points at 23,675, tracking mixed global cues. The index remained volatile in the opening hour, oscillating between the 23,680–23,760 zone with intermittent buying and selling pressure.

After the initial swings, Nifty largely traded sideways through the late morning session, hovering around the 23,700–23,750 range till noon, with no clear directional momentum.

In the second half, weakness gradually crept in as the index started making lower highs. Selling pressure intensified sharply after 2:30 PM, dragging Nifty below the 23,650 mark and pushing it steadily toward the 23,590–23,600 zone in the final hour.

A minor recovery attempt emerged near the close, but it failed to reverse the damage. Nifty eventually closed at 23,618, near the day’s lows.

The session was marked by range-bound trade in the first half, followed by late selling pressure, resulting in a weak, largely flat close despite a stable start.

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 the 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 26th May:

• The maximum Call Open Interest (OI) is observed at 24,000, followed by 23,700, indicating potential resistance at the 23,800 -23,900 levels.

• The maximum Put Open Interest (OI) is observed at 23,500, followed by 24,000, suggesting support at 23,500-23,400.

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 slid to a fresh record low of 96.61/$, extending its losing streak to six straight sessions as elevated crude oil prices and persistent dollar demand continued to pressure the currency. USD/INR eventually settled at 96.53 for the day. Dive deeper

Adani Group stocks were in focus after the United States Department of Justice dropped all criminal charges against Gautam Adani and Sagar Adani, ending a long-running securities and wire fraud case in New York. The development removes a major overhang that had affected the group’s fundraising and expansion plans. Dive deeper

Indian Oil Corporation reported a strong Q4 with net profit jumping 56% YoY to ₹11,377 crore, driven by robust refining margins and improved operational performance. Dive deeper

Bharat Electronics Limited reported a 5% YoY rise in Q4FY26 net profit to ₹2,203 crore, while revenue from operations increased 12% to ₹10,177 crore, supported by continued strength in defence orders and execution. Dive deeper

PepsiCo plans to invest ₹5,700 crore in India by 2030 to expand manufacturing capacity, signalling a strong long-term demand outlook and deeper commitment to the Indian market. Dive deeper

Bharat Forge will set up India’s first private-sector Marine Gas Turbine repair, overhaul, and indigenous development complex in Visakhapatnam through its aerospace business. The facility, being developed in partnership with the Andhra Pradesh government, will support naval propulsion systems and strengthen India’s domestic defence capabilities. Dive deeper

BASF India reported a strong Q4FY26 performance with net profit surging 155% YoY to ₹69 crore. Revenue rose 9.1% to ₹3,444 crore, while EBITDA more than doubled and margins improved to 3.2%. The company also announced a dividend of ₹25 per share for FY26. Dive deeper

Vodafone Idea shares rose over 4.5% after the company said it is in advanced discussions with a State Bank of India-led consortium for a planned ₹35,000 crore debt funding package. Dive deeper

Life Insurance Corporation of India (LIC) has received shareholder approval for a 1:1 bonus issue, aimed at improving liquidity and broadening retail participation in the stock. Dive deeper

Top Stories Globally

Brent crude futures eased to around $110/bbl after Donald Trump said he had called off a planned military strike on Iran following requests from Gulf allies, including Saudi Arabia, Qatar, and the UAE. The comments raised hopes that negotiations could resume, although Iran has not confirmed the development. Dive deeper

Tehran Stock Exchange reopened after an 80-day wartime shutdown, with the benchmark TEDPIX index rising modestly on the first trading day. However, market breadth remained weak, with nearly 72% of listed stocks declining or staying flat, reflecting lingering concerns over war-related damage and economic disruption. Dive deeper

South Korea’s stock market rally is fueling a surge in luxury spending, with rising retail investor wealth driving demand for high-end brands like Rolex and Bentley, highlighting strong wealth effects and speculative momentum in the market. Dive deeper

Australian equities rebounded sharply, with the S&P/ASX 200 rising 1.2% after the Reserve Bank of Australia’s meeting minutes signalled a cautious “wait-and-watch” stance following three rate hikes this year. The recovery came after the index had fallen to a near seven-week low in the previous session. Dive deeper

A US jury ruled against Elon Musk in his lawsuit against OpenAI, finding the AI firm not liable over claims that it had deviated from its original mission. The jury said Musk had filed the case too late. Dive deeper

Japan’s economy grew 0.5% QoQ in Q1 2026, beating expectations and marking its strongest expansion since Q3 2024. Growth was supported by improving private consumption and steady wage gains, along with a rebound in public investment driven by infrastructure spending. Dive deeper

Management Chatter

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

Anuj Jain, Director of Finance, Indian Oil Corp, on availability of Crude and refining margins:

“We don’t have any shortage of either crude oil or LPG. For crude oil, the number of days of inventory is still being maintained for over a month. LPG inventory has come down, but still it is being managed so that we have enough LPG availability on a pan-India basis.”

“As far as the supply of crude oil and other petroleum products is concerned, we have consistently seen that, particularly in crude oil, there are diversified sources available, and all our refineries are operating at full capacity since the conflict started. So we are making crude oil available.”

“The world definitely will be facing some cycles of high refining margins going forward, because whatever has happened, whether in Russia-Ukraine, or in US-Iran, it has disrupted the refining and upstream assets, also. So, in all, refining margins are expected to remain high in the next one or two years because of these uncertainties.” - Link

Keki Mistry, Chairman of HDFC Bank, on Adani Group’s Borrowing Profile after US case closure:

“SEC was playing on certain minds, but now that it is put to rest, borrowing costs will improve, and more banks will lend to the group.”

The group's planned investment of nearly Rs 6 lakh crore across aviation, digital infrastructure, and renewable energy sectors. He said renewable energy, in particular, could emerge as a “saviour” in the current environment if scaled up rapidly. - Link

Corporate Actions & Events

Corporate Actions

Earnings Calendar

Published by Zerodha. Not investment advice. Data from NSE, BSE, 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, from Friedrich Hayek's 1945 insight that prices aggregate dispersed knowledge, to Kenneth Arrow's state-contingent securities, and Eugene Fama's Efficient Market Hypothesis — the intellectual foundations of prediction markets run surprisingly deep.

We trace how these ideas were brought to life, from a bar conversation in Iowa City that became the Iowa Electronic Markets to the billion-dollar platforms Kalshi and Polymarket, navigating regulatory battles with the CFTC in the US today.

This episode also examines what all of this means for India — a country where prediction markets don't yet exist, but where Indian events are already being actively traded on platforms thousands of miles away, and where global funds may be using these prices as live intelligence on our own political and economic outcomes.

Check out In The Money

Markets Today

Nifty opened with a gap down of 161 points at 23,482, tracking weak global cues as rising bond yields continued to spook markets, while persistent geopolitical tensions kept crude oil prices elevated. The index saw sharp selling in the opening minutes, slipping toward the 23,320–23,350 zone within the first hour.

However, the early weakness was gradually bought into, with Nifty recovering steadily through the late morning session. The index reclaimed the 23,450 mark by around 11 AM and extended gains toward the 23,550 zone by 11:30 AM.

After a small dip, momentum strengthened further as buying interest remained firm. Nifty climbed steadily toward the 23,600 mark after 12:30 PM and stayed largely range-bound near the day’s highs through most of the afternoon, with only minor pullbacks in between.

A brief spike in the final hour pushed the index toward the 23,680-690 zone before it eventually closed the day flat at 23,649.95.

The session was marked by a weak and volatile start, followed by a strong intraday recovery, with sustained second-half buying helping the index erase opening losses and ending in positive territory.

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 the 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 19th May:

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

• The maximum Put Open Interest (OI) is observed at 23,400, followed by 23,500, suggesting support at 23,500-23,400.

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 another record low of 96.39/$, extending its losing streak to seven sessions as rising global bond yields and elevated oil prices intensified pressure on Asia’s worst-performing major currency this year. The rupee ended the day at 96.35/$, down 0.4% from Friday’s close. Dive deeper

The government has directed state-run banks and insurance firms to cut costs and transition to electric vehicles (EVs), aiming to reduce fuel expenses, improve sustainability, and accelerate EV adoption across public sector institutions. Dive deeper

Zydus Wellness reported Q4 net profit down 5.8% YoY to ₹162 crore, while revenue grew 63%, and announced a dividend, indicating strong top-line growth but some pressure on margins. Dive deeper

Hindustan Zinc shares have fallen 7% over two sessions, mainly due to concerns over declining silver and zinc prices, profit-booking after recent gains, and a weak global demand outlook, which have weighed on investor sentiment. Dive deeper

ICICI Prudential Life Insurance shares fell nearly 9% before recovering after Prudential plc announced plans to reduce its stake below 10%, raising concerns about promoter exit and near-term supply overhang impacting the stock. Dive deeper

TVS Venu Group will acquire a 9.9% stake in Jana Small Finance Bank, marking a strategic investment aimed at strengthening its presence in financial services and supporting the bank’s growth plans. Dive deeper

Muthoot Fincorp is planning a ₹4,000 crore IPO, aiming to raise capital for business expansion and strengthen its balance sheet, as strong demand in the gold loan segment continues to support growth prospects. Dive deeper

Air-conditioner and refrigerator manufacturers have warned that new government restrictions on compressor imports could lead to shortages later this year, as domestic manufacturing capacity may not be enough to meet rising demand. The curbs link FY27 compressor imports to a percentage of FY25 import volumes. Dive deeper

Glenmark Pharmaceuticals announced the launch of a generic version of vancomycin hydrochloride injection in the US market. The company said the product addresses a market with annual sales of about $37.9 million, based on IQVIA data. Dive deeper

Top Stories Globally

Brent crude futures eased toward $107/bbl after briefly surging above $111 on reports that the US may offer Iran a temporary waiver on oil sanctions while negotiations continue. However, uncertainty in the Middle East remains high, with the Strait of Hormuz still largely shut and the US continuing its blockade of Iranian ports. Dive deeper

China’s retail sales growth slowed sharply to just 0.2% YoY in April 2026, the weakest since December 2022, as the fallout from the Iran conflict weighed on consumer demand. Big-ticket spending remained particularly weak, with sharp declines in automobile, home appliance, building material, and furniture sales. Dive deeper

Germany’s 10-year bond yield is hovering at a 15-year high, reflecting a broader global bond sell-off driven by persistent inflation concerns and expectations of higher interest rates for longer, which is pushing borrowing costs up across major economies. Dive deeper

Gold traded below $4,550/oz after a sharp 4% decline last week, as rising inflation concerns and expectations of tighter central bank policy reduced demand for the precious metal. Stronger US Treasury yields and a firmer dollar also pressured gold after hotter-than-expected US inflation data dampened hopes of Fed rate cuts. Dive deeper

NextEra Energy will acquire Dominion Energy in an all-stock deal valued at about $66.8 billion, creating the world’s largest regulated electric utility by market value. The merger comes as US utilities expand capacity to meet soaring electricity demand from AI-driven data centers. Dive deeper

Management Chatter

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

Corporate Actions & Events

Corporate Actions

Earnings Calendar

Published by Zerodha. Not investment advice. Data from NSE, BSE, 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, From the macro forces that shape markets over long periods — interest rates, institutional flows, currency, and commodities — to the structural and regulatory shifts like taxation changes, leverage rules, and derivatives evolution, and finally to what you can observe directly in price, volatility, and market breadth, most market changes fit into one of three broad pillars.

This episode breaks down all three lenses of market regimes and explains why identifying them in real time is far harder than in hindsight — and why that distinction matters deeply for how we trade.

Check out In The Money

Markets Today

Nifty opened with a gap up of 42 points at 23,731, tracking positive overnight global cues. The index saw strong buying in the opening hour, climbing steadily toward the 23,800–23,830 zone and briefly touching the day’s high around 11 AM.

However, the momentum faded sharply after the early rally. Nifty slipped quickly toward the 23,700 mark through the late morning session and remained volatile in a range between 23,700 and 23,750 till 1 PM.

In the second half, around 1:30 PM, selling pressure resurfaced once again, dragging the index steadily lower. Nifty slipped below the 23,700 mark after 2 PM and continued drifting lower toward the 23,610–23,630 zone in the final hour. A brief recovery attempt around 3 PM helped the index bounce toward the 23,675 mark, but the rebound failed to sustain. Nifty eventually closed at 23,643.50.

The session was marked by a strong opening rally followed by persistent profit-booking through the second half, resulting in a weak close near the day’s lows.

Nifty slipped 0.19% to 23,643.5, Bank Nifty cracked 0.77%, and midcaps fell 0.68%. Breadth tilted sharply negative, 177 advances against 322 declines. VIX climbed 0.97% to 18.79, reflecting renewed caution.

Sectoral Indices Performance

Media surged 1.98%, IT jumped 1.3%, and FMCG held on with 0.54%. Everything else bled. Metals reversed yesterday’s 2% rip with a 1.93% drop. PSU Banks and Realty each fell 1.8%.

Winners & Losers

Midcaps underperformed large caps, down 0.68%. Breadth collapsed from yesterday’s 314 advances to just 177 today. The rally that started on May 14 fizzled in one session.

Momentum Screener

Global Markets

Commodities

Crude spiked 2.93% to ₹10,009, reversing the multi-day slide. Gold dropped 1.81%, silver crashed 5.63%, and defensive assets unwinding.

Bond Yields & Currency

India 10Y yield at 7.076%. US 10Y at 4.47%, stable. Rupee slipped 0.1% to 95.86, reacting to the crude surge and renewed FII selling.

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 the 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 19th May:

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

• The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,400, suggesting support at 23,500-23,400.

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 central government increased petrol and diesel prices by ₹3 per litre each, while CNG prices were raised by ₹2/kg, as oil marketing companies passed on part of the recent rise in global energy prices to consumers. Dive deeper

The Indian rupee hit another record low, falling to 96.14/$ intraday as oil prices neared $110/bbl, worsening concerns over India’s import bill and macroeconomic stability. The currency ended the week at 95.97/$, down 1.5% week-on-week. Dive deeper

India’s merchandise exports began FY27 on a strong note, rising 13.8% YoY to $43.56 billion in April, driven by robust growth in petroleum, engineering goods, electronics, and pharmaceuticals. Imports increased 10% to $71.94 billion, taking the trade deficit to $28.38 billion. Dive deeper

India and UAE signed multiple agreements covering defence, energy, and infrastructure during Narendra Modi’s visit to the Gulf nation. The UAE also announced $5 billion in investments into Indian infrastructure and financial institutions, alongside a new strategic defence partnership framework. Dive deeper

India’s foreign borrowing filings halved to $5.43 billion in March, reflecting cautious corporate sentiment amid market volatility, higher global interest rates, and tighter financial conditions impacting external fundraising. Dive deeper

Hindustan Copper reported a 134% YoY jump in Q4FY26 consolidated net profit to ₹444 crore, while revenue surged 58% to ₹1,156 crore. The company also recommended a dividend of ₹1.86 per share for FY26. Dive deeper

Solar Industries India reported a strong Q4 performance with net profit rising 70% YoY, and announced a final dividend of ₹11 per share, reflecting robust growth and healthy cash flows. Dive deeper

Ola Electric plans to invest ₹2,000 crore into key battery and EV subsidiaries, aiming to strengthen its vertical integration, boost cell manufacturing capabilities, and accelerate growth in the electric mobility space. Dive deeper

Oracle Corporation has revoked campus offers at IITs and NITs following global layoffs, leaving many fresh graduates in uncertainty and highlighting the ripple effects of tech sector slowdown on hiring sentiment. Dive deeper

Gautam Adani and Sagar Adani have agreed to pay civil penalties of $6 million and $12 million, respectively, to settle U.S. Securities and Exchange Commission charges related to alleged misleading disclosures tied to a 2021 bond offering by Adani Green Energy. The settlement is subject to court approval. Dive deeper

Top Stories Globally

WTI crude futures climbed above $104/bbl and were headed for a weekly gain of around 10% as tensions around the Strait of Hormuz remained elevated amid stalled US–Iran talks. Donald Trump warned Iran to reach a deal or face “annihilation,” keeping geopolitical risk premium high in oil markets. Dive deeper

Silver prices fell more than 7% to around $78/oz, extending losses for a second straight session as rising US inflation concerns and expectations of potential interest rate hikes pressured precious metals. Dive deeper

The US 10-year Treasury yield rose above 4.5%, its highest level in a year, as rising inflation linked to the Iran-driven energy shock strengthened expectations of a potential Federal Reserve rate hike later this year. Dive deeper

Ford Motor Company shares surged as much as 10%, extending a two-day rally to 25%, after investors cheered the company’s pivot toward energy storage linked to AI infrastructure demand. Markets are increasingly favouring companies tied to power-hungry data centers and AI-related energy solutions. Dive deeper

Donald Trump said China agreed to buy 200 jets from Boeing, but Boeing’s stock still fell 5%, indicating investor skepticism over deal certainty and broader concerns around demand and geopolitical risks. Dive deeper

Samsung Electronics shares fell 9% after a major labour strike raised concerns of up to $20 billion profit impact, highlighting rising operational risks and potential disruption to production in the semiconductor and electronics business. Dive deeper

Management Chatter

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

V.P. Nandakumar, Chairman & MD of Manappuram Finance, on the segment-wise update:

Across segments, trends remain divergent. While gold loans are largely instrumental to our growth, microfinance is still in a recovery phase with a modest AUM expansion and improvements in asset quality. The housing finance business remains stable. The portfolio growth is muted. - Link

Sudhanshu Vats, MD of Pidilite Industries, on the conflict and Inflation:

Fortunately, for us, we started discussing a possible Iran conflict almost a month before the conflict actually happened. Therefore, we have basically been able to map some of these things out. We have been constantly looking at alternate supplies, if possible, wherever possible. So I think as a company and in this, what we are doing is we basically take this day by day, every day, but more importantly, weekly, monthly, and quarterly.

I think inflation is real on our weighted average raw material basket; inflation is anywhere between 40% to 50%. And therefore, we are looking at that. Here, our strategy is very clear. Our strategy is that we will first pass on the absolute increase in our raw material prices in rupee terms in a calibrated fashion because our focus will remain on growth and disciplined demand generation in the market. - Link

Corporate Actions & Events

Corporate Actions

Earnings Calendar

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