Aftermarket Report by Zerodha

Nifty nears 24,600 as strong FMCG earnings offset global concerns

Zerodha — Tue, 21 Apr 2026 12:24:01 GMT

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 understanding what separates an indicator from a strategy, to coding your first custom indicator on TradingView using Claude AI, and eventually converting it into a back-testable strategy, this episode walks you through the entire process step by step.

This episode breaks down how to bring your trading ideas to life using Pine Script on TradingView, powered by Claude AI, from a simple session range tracker to a smoothed Heikin-Ashi strategy, and how the build-observe-analyse-refine loop becomes the foundation of a data-driven trading approach.

Check out In The Money

Markets Today

Nifty opened flat at 24,375, tracking mixed global cues. Early volatility dragged the index toward 24,350, but it quickly recovered to the 24,480–24,500 zone within the first hour.

Through the late morning, Nifty maintained a steady upward bias, inching higher with minor pullbacks and holding above 24,500. By noon, it settled into a tight 24,500–24,550 range.

The second half remained largely range-bound with a slight positive tilt, as the index oscillated between 24,520 and 24,560. Intermittent buying kept pushing it toward the upper end of the range.

In the final hour, Nifty edged higher toward the day’s highs near 24,600 and closed at 24,576.60, marking a steady session with a gradual uptrend and limited drawdowns.

Nifty gained 0.87% (211.75 points), while Bank Nifty outperformed, rising 1.39% to 57,371.45; Sensex added 0.96%. VIX dropped 6.71% to 17.53, its lowest in five sessions. Market breadth was strong, with 335 advances against 161 declines in the Nifty 500.

Sectoral Indices Performance

FMCG led with a 2.55% rally on strong earnings from Nestle. Realty climbed 2.14%, Banks 1.39%, and Consumption 1.26%. Pharma was the only loser at -0.08%. Metals and Infra lagged at +0.04% and +0.35%. Eleven of twelve sectors closed green.

Winners & Losers

The midcap index rose 0.81% to 13,919.45, slightly trailing large-caps. The rally was concentrated but broad enough, with two-thirds of Nifty 500 stocks advancing.

Momentum Screener

Global Markets

Commodities

Crude at 8,173 was flat, down just 0.13%. Gold dropped 0.27% to ₹1,53,526 and silver fell 0.61%.

Bond Yields & Currency

India 10Y yield at 6.892%. US 10Y at 4.26%. Rupee weakened 0.25% to 93.39, the worst move in a week despite domestic buying.

FII / DII Flows

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

Thematic Indices

Tijori’s niche indices, where pockets of the market beyond standard sector baskets are sorted by today's move. 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 28th April:

The maximum Call Open Interest (OI) is observed at 25,000, followed by 24,500, indicating potential resistance at the 24,700 -24,800 levels.
The maximum Put Open Interest (OI) is observed at 24,500, followed by 24,400, suggesting support at 24,300-24,200.

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

Source: Sensibull

Management Chatter

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

Vikram Gourineni, ED of Amara Raja Energy & Mobility on the growth opportunities:

“For the last several years, we’ve been doing lithium pack business, mostly for low-voltage mobility as well as telecom. The cumulative lithium installations in telecom have crossed one gigawatt-hour. That’s only a small stepping stone for us.”
“Over the next two to three years, we expect aggressive telecom rollouts. After that, there will be some replacement cycles, and we’ll increasingly focus on stationary storage applications like UPS, utility-scale storage, and other emerging use cases.”
Both (ESS and Data centers) are very large opportunities. ESS could become one of the largest segments after EVs (electric vehicles),” - Link

Neelkanth Mishra, Chief Economist, Axis Bank & Head of Global Research, Axis Capital, on the current global environment:

“So, the inventories are running dry. We already have signs like in India, the plastics market, and the furniture makers are now priced out. So plastic chairs, tables, those are not being manufactured.”
The system seems to be calibrating much more efficiently, and therefore maybe there is a couple of weeks extra of inventory.I must say that the product inventories are now starting to hit precarious levels… maybe it is the 30th of April, but it is not the 30th of May.” - 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!

Nifty closes flat as uncertainty & tensions resurface over the weekend

Zerodha — Mon, 20 Apr 2026 13:03:03 GMT

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.

Check out In The Money

Markets Today

Nifty opened with a modest gap up of 38 points at 24,391, following an eventful weekend where Iran first signalled the opening of the Strait of Hormuz and later hinted at a closure, triggering sharp volatility in oil prices. The index remained choppy early on, briefly slipping to the 24,250–24,300 zone before recovering to the 24,420–24,430 range within the first hour.

Momentum picked up through the late morning, with Nifty gradually moving higher to test the 24,450–24,470 zone around noon. However, it failed to hold gains and started drifting lower post 1 PM.

In the second half, selling pressure intensified, dragging the index below 24,400 and toward the 24,350 zone. A brief bounce around 2:30 PM pushed Nifty back near 24,420, but the recovery was short-lived.

Fresh selling in the final hour pulled the index back toward the 24,330–24,350 range. Nifty eventually closed at 24,364.85, up just 0.05%, marking a volatile session that began on a positive note but ended largely flat amid late selling pressure. Bank Nifty and Sensex also closed flat at 56,582 and 78,520, respectively. Market breadth weakened significantly, with 168 advances against 330 declines, while VIX jumped 9.18% to 18.79, indicating rising uncertainty.

Sectoral Indices Performance

Media led with 0.9%, PSU Bank added 0.87%, Energy climbed 0.78% on crude’s 6.25% surge, and Auto ticked up 0.33%. IT fell 0.7%, Realty dropped 0.62%, Metals shed 0.39%. Seven of twelve sectors closed green, but index gains masked weak internals.

Winners & Losers

The midcap index fell 0.23% to 13,807. Broader market breadth was dismal, 168 stocks up, 330 down, a stark reversal from the past few sessions when advances dominated. Large-caps held the line; everything else struggled.

Momentum Screener

Global Markets

Commodities

Crude rebounded 6.25% to ₹8,145 after Friday’s fall, two violent moves in two sessions. Gold slipped 0.68% to ₹1,53,550. Silver tumbled 2.06% to ₹2,51,857. Oil’s rally is back to squeezing everything else.

Bond Yields & Currency

India 10Y yield at 6.898%. US 10Y yield held at 4.26%. Rupee weakened slightly to 93.08 per dollar, up 0.11%. Bond markets calm despite crude volatility.

FII / DII Flows

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

Thematic Indices

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 21st April:

The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,800, indicating potential resistance at the 24,500 -24,600 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,300 & 24,200, suggesting support at 24,200-24,100.

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

Source: Sensibull

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!

Nifty ends the week at highs above 24,350 on easing geopolitical tensions & strong global cues

Zerodha — Fri, 17 Apr 2026 13:01:33 GMT

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 kick off a new series on systematic trading. We sit down with Aamodh, better known as GoldenDustbin on X—a systematic trader who transitioned from a semiconductor chip design career at Texas Instruments, Intel, and AMD to full-time algorithmic trading.

We trace his journey from mutual funds and swing trading to fully automated strategies, and what it really took to get there, the drawdowns, regime shifts, and hard-earned lessons along the way.

Check out In The Money

Markets Today

Nifty opened with a small gap down of 31 points at 24,166, tracking lacklustre global cues. The index remained volatile in early trade, briefly slipping below 24,150 before recovering to the 24,250–24,280 zone within the first hour.

Through the late morning, Nifty turned choppy, oscillating in a narrow 24,250–24,280 range with intermittent spikes, including a brief move toward 24,320 around noon. However, it failed to hold gains and drifted back toward the 24,250–260 zone till about 1:30 PM.

Momentum picked up in the second half, with a steady upward bias emerging post 2 PM. Buying intensified into the final hour, pushing the index past 24,300 and extending gains to around 24,370.

Nifty eventually closed near the day’s highs at 24,353.55, up 0.65%, marking a strong recovery from a flat start and a session defined by gradual strength building through the second half. Bank Nifty rose 0.85% to 56,565.7, while midcaps outperformed with a 1.13% gain to 13,838.85. Market breadth was firmly positive at 401 advances to 98 declines, and VIX cooled 4.86% to 17.21, indicating easing volatility.

Sectoral Indices Performance

FMCG led the charge with a 2.65% surge as crude oil collapsed 4.34% to ₹8,472 a barrel, lifting margin-sensitive names. Energy followed with a 1.83% gain, media climbed 1.34%, and consumption added 1.17%. 11 out of 12 sectors closed in green. Auto lagged at just 0.2%, pharma scraped 0.14%, and IT slipped 0.02%.

Winners & Losers

Midcaps outperformed large caps decisively, rising 1.13% versus Nifty’s 0.65%. The breadth ratio of 4:1 advances to declines signals broad participation, not just index-driven momentum.

Momentum Screener

Global Markets

US futures are up nearly 0.3% overnight. Asian markets were weak earlier, while the European indices closed marginally higher.

Commodities

Crude oil tanked 4.34%, extending its multi-day collapse, a direct tailwind for India’s import bill and inflation expectations. Gold slipped 0.07% to ₹1,53,049, while silver bucked the trend with a 0.99% gain to ₹2,51,079.

FII / DII Flows

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 21st April:

The maximum Call Open Interest (OI) is observed at 24,800, followed by 24,500, indicating potential resistance at the 24,500 -24,600 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,200 & 23,800, suggesting support at 24,100-24,000.

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

Source: Sensibull

Thematic Indices

Tijori is an investment research platform that has constructed niche indices for various themes and sub-sectors. They help you understand the market performance of narrow slices of the market. You can also track the Promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Management Chatter

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

Mark Matthews, the Head of Research-Asia at Julius Baer, argued that markets are already looking past the conflict:

“If the S&P 500 can hit new highs in the middle of a war, it tells you the market is focused on earnings, not geopolitics.”
“Historically, wars don't tend to cause recessions or sustained market declines.” The infrastructure damage in the region appears limited and recoverable. - Link

President Donald Trump claimed Iran has made key concessions in negotiations with the US:

“Iran wants to make a deal. They are willing to do things today that they weren’t willing to do two months ago.”
“We have a very successful negotiation going on right now. If it happens, it will be announced fairly soon.” - Link

Corporate Actions & Events

Watch out for the results of heavyweights like HDFC Bank and ICICI over the weekend. Weekly options expire on Tuesday. Keep an eye on crude oil price action and FII flow continuity.

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!

Nifty closes below 24,200 as weakness in banking stocks weigh

Zerodha — Thu, 16 Apr 2026 12:45:35 GMT

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 video series, we move from the “what” to the “how.” Once you understand market structure, the most critical decision is execution—how to select the right strikes and define entries and exits that are repeatable. We explore why trading 1-strike In-The-Money (ITM) options based on Synthetic Futures is often the most robust rule of thumb for both buyers and sellers.

We also break down the three distinct time segments of the trading day—S1, S2, and S3—and the specific setups that emerge in each. Whether it’s a morning breakout or an afternoon mean reversion, the goal is to align your setup with the current market regime. As we discuss in the video, the primary signal must always come from the Spot chart, even when you are trading options.

Check out In The Money

Markets Today

Nifty opened with a 154-point gap-up at 24,385, tracking positive global cues as the S&P 500 hit fresh record highs. However, the index came under immediate selling pressure, slipping toward the 24,270–24,300 zone within the first hour.

After trading largely range-bound until 11:30 AM, Nifty gradually drifted lower and broke below the 24,200 mark. Selling intensified around noon, dragging the index sharply to the day’s low near the 24,100 zone by 1:30 PM.

A recovery attempt followed, with Nifty rebounding toward the 24,200–24,230 range in the final hour. However, the bounce lost momentum, and the index turned choppy into the close.

Nifty eventually closed down 0.14% at 24,196.75, losing 34.55 points. Bank Nifty declined 0.38%, marking its second straight session of losses. India VIX eased 3.11% to 18.09, while market breadth turned sharply positive, with 5,531 advances versus 3,101 declines—a notable reversal from yesterday’s near-even split. Despite broad-based participation, the index remained under pressure due to weakness in banking stocks and continued to trade below its 50-day EMA of 24,282.

Sector Performance

Metals led for a third day, up 1.53%, extending the rally that began when FIIs returned. IT added 0.88%, Media rose 0.59%, and Energy continued its resilience at +0.5%. Bank Nifty’s 0.38% decline weighed on the headline, with PSU Bank down 0.17% and Auto down by 0.38%. Nine of 12 sectors closed green, the broadest strength since Tuesday’s full sweep.

Winners & Losers

Midcap outperformed, up 0.97%, building on yesterday’s momentum as participation deepened across the market. The 5,531 advances marked the healthiest breadth of the week, a full turn from Monday’s 2,456 gainers. Broader stocks absorbed the banking weakness, with gains concentrated in metals and smaller-cap cyclicals as sentiment stabilized.

Global Markets

US markets held mixed after a strong close yesterday, ahead of key data, with the Dow underperforming slightly at 48,463 and the Nasdaq outperforming at 26,394. European indices traded with a nearly 0.5% gain. Asian markets closed with strong gains, with Hong Kong’s Hang Seng at 26,394 and Nikkei at 59,518, tracking strong global cues led by the US.

Commodities

Crude edged up 0.37% to ₹8,640 per barrel, holding steady as supply concerns persisted. Gold rose 0.18% to ₹1,54,221, and silver gained 0.23% to ₹2,52,318, both supported by softer dollar sentiment.

FII / DII Flows

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 21st April:

The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,400 & 24,200, indicating potential resistance at the 24,300 -24,400 levels.
The maximum Put Open Interest (OI) is observed at 24,200, followed by 24,000 & 23,800, suggesting support at 24,000-23,900.

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

Source: Sensibull

Thematic Indices

Management Chatter

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

Raamdeo Agrawal, chairman & co-founder at Motilal Oswal Financial Services, on Mark Mobius, who passed away yesterday:

Mark Mobius was a very iconic investor, especially with his Yul Brynner hairstyle. He was a brand in in his own in his own capacity. But more importantly, he was the ‘emerging market’ guru who put emerging markets on investors’ radar. Mark Mobius was way ahead of his time. He could see the rise of India, Brazil, etc., much ahead of other investors. I don't remember any other person who dedicated his life only to the emerging markets.
He was more of a mutual fund investor. That said, firstly, he believed in meeting companies personally—visiting plants, understanding operations firsthand. That’s something I also strongly believe in.
Second, he had a very independent mindset. He would invest based on his own conviction—buying during crises, investing in unpopular or ignored stocks. He wasn’t driven by market sentiment but by his own assessment of value. That independence of thought was probably his biggest strength. - Link

What to Watch

No major economic releases on the calendar, leaving focus on earnings and FII flow continuity as markets are likely to remain sensitive to global geopolitical developments, risk appetite, and key domestic cues.

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!

Nifty crosses 24,200 on renewed hopes of US-Iran peace talks

Zerodha — Wed, 15 Apr 2026 12:36:56 GMT

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.

Check out In The Money

Market Overview

Nifty opened with a big 321-point gap down at 24,164, on renewed hopes of US–Iran truce talks, which led to a sharp fall of over 10% in crude oil prices. After opening minutes, Buying interest picked up through the first hour, helping Nifty move steadily higher towards the 24,250–24,280 range by 10:30 AM. After one more dip towards the 24,180-200 zone till 11:30 AM, Nifty largely remained range-bound, oscillating between 24,200 and 24,250 for the rest of the day till 2:30 PM as both buyers and sellers lacked strong conviction.

Some mild profit booking in the final hour dragged the index slightly lower, though it managed to hold above the 24,200 mark. Nifty eventually closed at 24,231.30, marking a largely choppy, range-bound day after a big gap-up open.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, and key domestic cues.

Broader Market Performance:

The broader market had a super bullish session today. Of the 3,361 stocks that traded on the NSE, 2,839 advanced, 438 declined, and 84 remained unchanged.

Sectoral Performance:

Nifty Consumer Durables was the top gainer, rising 2.91%, while there were no losing sectors in this session. All 12 sectors closed in green, with 0 in red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 21st April:

The maximum Call Open Interest (OI) is observed at 24,200, followed by 24,500, indicating potential resistance at the 24,400 -24,500 levels.
The maximum Put Open Interest (OI) is observed at 24,200, followed by 24,000 & 23,800, 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

What’s happening in India

India’s merchandise trade deficit narrowed to $20.76 billion in March from $27.1 billion in February and $21.69 billion a year ago, as both imports and exports slowed amid Middle East tensions. Imports fell 6% YoY to $59.9 billion, while exports declined 7.5% to $38.92 billion, which the commerce secretary said was the highest monthly export figure of the current fiscal year. Dive deeper

WPI inflation rose sharply to 3.88% in March from 2.13% in February, the highest in 41 months, led by higher prices of crude petroleum, natural gas, metals, and food items. Fuel and power prices rose 4.13% month-on-month, with mineral oil prices up 8.77%. Dive deeper

HDB Financial Services reported a strong Q4FY26 performance, with net profit rising 41% YoY to ₹751 crore. The board also approved ₹32,825 crore fundraising via debt and declared a final dividend of ₹2 per share. Dive deeper

GE Aerospace and Hindustan Aeronautics Ltd. reached a technical agreement to jointly manufacture F414 jet engines in India, marking a first-of-its-kind arrangement for both sides. The deal includes the transfer of manufacturing know-how and moves the long-pending project closer to a final contract. Dive deeper

Shares of the small finance bank fell over 3% after the RBI returned its application to convert into a universal bank. The move has raised concerns over the lender’s long-term growth roadmap and expansion plans. Dive deeper

Wipro will acquire select customer contracts and the related workforce of Alpha Net Group for $70.8 million to strengthen its AI-powered and consulting-led application services business. The deal, which includes deferred earnout-linked payments, is expected to close by June 30, 2026.. Dive deeper

India’s gem and jewellery exports rose marginally by 0.93% to ₹2.45 lakh crore in FY26, though they declined 3.32% YoY in dollar terms to $27.72 billion, reflecting currency impact and global demand pressures. According to Gem & Jewellery Export Promotion Council, the performance came despite geopolitical challenges, signalling a structural shift in the sector. Dive deeper

RailTel Corporation of India shares rose sharply after securing tunnel communication contracts worth ₹564.55 crore from Rail Vikas Nigam. The orders involve deploying integrated communication systems across multiple tunnels and are scheduled for completion by April 2028. Dive deeper

What’s happening globally

WTI crude rebounded toward $93/bbl after a sharp 10% drop over the past two days, with volatility expected to remain high. Markets are closely tracking Middle East developments and the potential resumption of flows through the Strait of Hormuz. Dive deeper

Gold eased from one-month highs, with spot prices falling 0.7% to $4,806/oz as investors tracked developments in US–Iran talks. The decline came even as oil prices remained firm due to ongoing supply concerns from the Strait of Hormuz disruption. Dive deeper

Amazon will acquire Globalstar for $11.57 billion to strengthen its Project Kuiper satellite network, intensifying competition with SpaceX’s Starlink. Dive deeper

Microsoft raised Surface laptop prices by up to $500 due to rising memory costs, with all models now priced above $1,000. Samsung also hiked prices, while Apple faces supply constraints. Dive deeper

Anthropic appointed Vas Narasimhan to its board, marking its first healthcare executive and signalling deeper integration between AI and life sciences. Dive deeper

Eurozone industrial production rose 0.4% MoM in Feb 2026, beating expectations and recovering from prior declines, led by gains in consumer and capital goods despite a drop in energy output. Dive deeper

Steel rebar futures climbed above CNY 3,080/tonne on improved demand and production, supported by optimism around a potential Middle East ceasefire boosting future demand. Dive deeper

Copper futures rose toward $6.1/lb, hitting over two-month highs as improving sentiment around US–Iran diplomacy helped reverse earlier losses. 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.

Girish Wagh, MD and CEO of Tata Motors Commercial Vehicles, on wage hikes in Haryana & UP:

The hikes for workers in Haryana and Uttar Pradesh are not "as big a challenge" as incorporating the new labour codes.
"The larger piece, which is in the play right now, is the new labour code. We have been working to prepare towards this new labour code for almost last three years." - Link

🧑🏻‍💻Have you checked out The Chatter?

Every week, we listen to the big Indian earnings calls—Reliance, HDFC Bank, and even smaller logistics firms—and copy the full transcripts. We then remove the fluff and keep only the sentences that could move a share price: a surprise price hike, a cut-back on factory spending, a warning about weak monsoon sales, or a hint from management on RBI liquidity. We add a quick, one-line explainer and a timestamp so you can trace the quote back to the call. The whole thing lands in your inbox as one sharp page of facts you can read in three minutes—no 40-page decks, no jargon, just the hard stuff that matters for your trades and your macro view.

Go check out The Chatter here.

We’re now on WhatsApp!

We’ve started a WhatsApp channel for The Daily Brief where we’ll share interesting soundbites from concalls, articles, and everything else we come across throughout the day. You’ll also get notified the moment a new video or article drops, so you can read or watch it right away. Here’s the link.

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Bulls take the backseat as stalemate in peace talks brings uncertainty back

Zerodha — Mon, 13 Apr 2026 12:11:08 GMT

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.

Check out In The Money

Market Overview

Nifty opened with a big 460-point gap down at 23,590 after the US–Iran peace talks ended in a stalemate, triggering a surge in oil prices. The index saw sharp volatility in the opening minutes, briefly dipping toward the 23,550 zone before witnessing a quick rebound.

Buying interest picked up through the first hour, helping Nifty recover steadily toward the 23,700–23,720 range. The upmove continued into the late morning session, with the index gradually climbing and reclaiming the 23,800 mark by noon.

In the second half, the recovery extended further, with Nifty moving toward the 23,900 zone around 2 PM. However, the momentum slowed near higher levels, and the index turned range-bound.

Some profit booking emerged in the final hour, dragging Nifty slightly lower from its intraday highs. The index eventually closed at 23,842.65, marking a strong recovery from the gap-down open, with buyers stepping in through the day despite weak global cues.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, and key domestic cues.

Broader Market Performance:

The broader market had a weak session today. Of the 3,325 stocks that traded on the NSE, 1,306 advanced, 1,928 declined, and 91 remained unchanged.

Sectoral Performance:

Nifty Energy was the sole gainer, inching up 0.06%, while Nifty Auto was the top loser, falling 2.09%. Overall, 1 sector closed in green, and 11 sectors ended in red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 21st April:

The maximum Call Open Interest (OI) is observed at 24,000, followed by 24,300 & 24,300, indicating potential resistance at the 24,100 -24,200 levels.
The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,800 & 23,800, 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

What’s happening in India

India’s retail inflation rose to 3.40% YoY in March from 3.21% in February, driven by a slight uptick in food prices. Food inflation stood at 3.87%, with rural inflation at 3.96%, higher than urban inflation at 3.71%, indicating mild price pressures across regions. Dive deeper

India’s 10-year bond yield rose to around 6.9% as a surge in oil prices and renewed geopolitical tensions triggered selling. Dive deeper

The rupee weakened to around 93.37 per dollar, hitting a three-week low as rising oil prices and risk aversion returned. Dive deeper

Iranian crude shipments have resumed to India after nearly seven years, with two supertankers docking at key ports. Dive deeper

Oil marketing stocks like IOC, BPCL, HPCL, and Reliance Industries came under pressure after the government sharply raised windfall taxes on fuel exports. Export duty on diesel was hiked to ₹55.5/litre and ATF to ₹42/litre. Dive deeper

Rapido has launched a food delivery app ‘Ownly’ in Bengaluru, entering the segment with a zero-commission model. Dive deeper

Jyoti CNC Automation shares fell over 14% after its subsidiary Huron Graffenstaden SAS came under investigation by French authorities for alleged violations of EU export control laws involving dual-use machinery. Dive deeper

L&T shares were in focus after announcing a ₹1,123 crore acquisition of IGSL, making it a wholly owned subsidiary. Dive deeper

The IMD expects the 2026 southwest monsoon to be below normal at around 92% of the long-period average, with a 31% probability of deficient rainfall, raising concerns over farm output, growth, and inflation amid ongoing global uncertainties. Dive deeper

What’s happening globally

WTI crude surged over 9% to above $105 per barrel after the US announced a blockade of the Strait of Hormuz. Dive deeper

Gold fell toward $4,700 per ounce, giving up recent gains as escalating tensions and a potential Hormuz blockade lifted inflation risks. Dive deeper

Aluminium prices rose to around $3,560 per tonne, the highest since March 2022, driven by supply disruptions. Dive deeper

Germany is increasing pressure on the European Union to relax strict auto emissions rules, arguing that current targets risk hurting the region’s car industry. Dive deeper

China’s new yuan loans fell to CNY 2.99 trillion in March, missing expectations and marking the weakest level since 2021 for the period. Dive deeper

Hong Kong has increased IPO banker licenses by 53%, with regulators granting 43 new corporate finance licenses in March to address a talent shortage. Dive deeper

John Giannandrea will exit Apple next week after an eight-year tenure, during which he led the company’s machine learning and AI strategy, marking a key leadership change in its AI division. 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.

Arjun Juneja, chief operating officer of Mankind Pharma, on price hikes in the API & Pharma Industry:

"In the next 15–20 days or over the next month, the effects will start coming in, especially due to shortages of LPG and other petroleum‑related products that are critical for manufacturing APIs and pharmaceutical formulations.”
“The supply situation will not normalise quickly. It could take anywhere between six months to a year for supply chains to stabilise, depending on how geopolitical tensions evolve and energy markets adjust.” - Link

Emmanuel Macron, President of France, on opening the Strait of Hormuz:

“We are ready to play our full part in ensuring freedom of navigation in the Strait of Hormuz.”
“A peaceful multinational mission… will be deployed as soon as conditions allow.”
“This will be a strictly defensive mission, distinct from the belligerents.” - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

We’re now on WhatsApp!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Strong weekly close near highs for markets after a long time

Zerodha — Fri, 10 Apr 2026 12:53:27 GMT

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 video series, we move from the "what" to the "how." Once you understand market structure, the most critical decision is execution—how to select the right strikes and define entries and exits that are repeatable. We explore why trading 1-strike In-The-Money (ITM) options based on Synthetic Futures is often the most robust rule of thumb for both buyers and sellers.

Check out In The Money

Market Overview

Nifty opened with a gap up of 110 points at 23,880, tracking stable global cues. The index saw some initial volatility in the opening minutes, briefly dipping toward the 23,850 zone before recovering and moving higher toward 24,000 within the first hour.

Through the late morning session, Nifty remained range-bound, oscillating between 23,950 and 24,050, with no clear directional bias. The index attempted to build on gains but faced intermittent profit booking near the 24,025 zone.

In the second half, the index continued to trade sideways, holding within a tight band as both buyers and sellers lacked conviction. A brief bout of weakness around 2 PM dragged Nifty toward the 23,950 zone, but it quickly recovered.

In the final hour, buying interest picked up, pushing the index toward the day’s highs near the 24,050–24,070 zone. Nifty eventually closed at 24,050.60, marking a strong opening and positive close to the week characterised by range-bound action for most of the day, followed by a late push higher.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, and key domestic cues.

Broader Market Performance:

The broader market had a super strong bullish session today. Of the 3,342 stocks that traded on the NSE, 2,667 advanced, 575 declined, and 100 remained unchanged.

Sectoral Performance:

Nifty Auto was the top gainer, rising 2.85%, while Nifty IT was the top loser, down 1.91%. Overall, 11 sectors closed in green and 1 sector ended in red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 13th April:

The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,000 & 24,300, indicating potential resistance at the 24,200 -24,300 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 23,900 & 23,800, 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

What’s happening in India

The rupee rose 10 paise to 92.41 per dollar in early trade, supported by near-term buying. However, volatility remains high amid global tensions and the RBI’s deadline on banks’ forex positions. Dive deeper

India’s 10-year bond yield rose to around 6.97% as a rebound in crude prices renewed inflation concerns. Upcoming government bond supply and positioning ahead of auctions also added pressure on yields. Dive deeper

India’s forex reserves rose sharply by $9.06 billion to $697.12 billion for the week ended April 3, reversing the prior week’s decline. Despite the rebound, reserves remain below the record high of $728.49 billion seen in late February, before the West Asia conflict. Dive deeper

E-way bill generation hit a record 140.6 million in March 2026, up 13% YoY and 6% sequentially, signalling strong economic activity. The sustained rise follows GST rate rationalisation, with volumes consistently hitting new highs. Dive deeper

Jaypee Group founder Jaiprakash Gaur has backed Adani Group’s ₹14,535 crore takeover of Jaiprakash Associates, calling the resolution process fair and transparent. Dive deeper

TCS shares fell nearly 3% despite a quarterly earnings beat, as a rare annual revenue decline weighed on sentiment. Dive deeper

RBI to absorb ₹2 lakh crore liquidity via VRRR auction, targeting surplus liquidity of ₹4.55 lakh crore in the banking system. The move pushed 10-year bond yield higher, signaling tighter near-term liquidity conditions. Dive deeper

RailTel shares were in focus after securing a ₹23.18 crore order to develop an online portal for the Goa Construction Workers Welfare Board. Dive deeper

Ola Electric shares surged over 12% after announcing readiness of its in-house LFP battery cell, extending gains for a third session. Dive deeper

What’s happening globally

WTI crude rose above $98/bbl amid fresh Middle East tensions and Hormuz disruption fears, despite ongoing ceasefire talks. Dive deeper

Gold held above $4,700/oz, set for a third weekly gain as easing oil prices reduced inflation fears. A softer dollar and ongoing geopolitical uncertainty continued to support demand. Dive deeper

US inflation likely rose to 3.3% in March, highest since May 2024, driven by a surge in energy prices. Monthly CPI jumped 0.9%, fastest since 2022, while core inflation edged up to 2.7%. Dive deeper

Euro rose above $1.17, nearing a 1.5% weekly gain, supported by Russia-Ukraine peace optimism. Dive deeper

Japan’s 10Y bond yield rose to 2.4%, near its highest since 1998, on rising BOJ rate hike expectations. Dive deeper

China’s producer prices rose 0.5% YoY in March, ending a long deflation streak and beating expectations. 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.

Arun Kumar Singh, Chairman and CEO of ONGC on the current crisis:

“Thinking that West Asia is nearest to us and therefore all their resources (can be accessed easily), we should take it with a pinch of salt,”
“A paradigm shift has happened, If the world gets more and more de-globalised, we will have more and more problems.”
“For the next 30-40 years… if you have multiple (powers), then you have an everyday… war of supremacy.” - Link

Andy Jassy, Chief Executive Officer, Amazon on AI:

“Annualised revenue from AI services at AWS exceeded $15 billion.”
“The AI revenue run rate is ascending rapidly.”
“We’re not investing approximately $200 billion in capex on a hunch.” - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

We’re now on WhatsApp!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Markets retreat by 1% as doubts rise over ceasefire terms

Zerodha — Thu, 09 Apr 2026 13:15:20 GMT

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 video series, we focus on the indicators that help us read intraday market structure and identify short-term trends. As Nassim Taleb highlights through the Ludic Fallacy, we often fall into the trap of assuming the future will mirror the structured patterns of the past. Indicators are merely “market footprints”—they describe where the market has been, but they cannot eliminate the uncertainty of where it is going next.

This episode breaks down five key indicators, ranging from standard TWAP to custom-built Weighted Market Breadth, to help you find more reliable ways to identify intraday trends and potential turning points.

Check out In The Money

Market Overview

Nifty opened with a gap down of 88 points at 23,909, tracking lacklustre global cues and an uptick in crude prices amid uncertainty around ceasefire terms. The index saw immediate selling pressure in the opening minutes, slipping sharply toward the 23,780–23,800 zone within the first half hour.

After the initial fall, Nifty attempted a recovery, moving back toward the 23,850–23,900 range by late morning. However, the bounce lacked strength, and the index remained volatile, struggling to hold higher levels through the first half.

In the second half, weakness resurfaced, with Nifty gradually drifting lower and breaking below the 23,800 mark. Selling intensified post 1 PM, dragging the index toward intraday lows near the 23,680 zone around 2:30 PM.

A mild recovery in the final hour helped the index bounce back toward the 23,780–23,800 range, as Nifty eventually closed at 23,775.10, marking a weak session characterised by early selling, failed recovery attempts, and sustained pressure through the afternoon and modest recovery in the end.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, and key domestic cues.

Broader Market Performance:

The broader market had a mixed session today. Of the 3,323 stocks that traded on the NSE, 1,573 advanced, 1,670 declined, and 80 remained unchanged.

Sectoral Performance:

Nifty Metal was the top gainer, rising 1.25%, while Nifty Bank was the top loser, down 1.58%. Overall, 4 sectors closed in green, and 8 sectors ended in red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 13th April:

The maximum Call Open Interest (OI) is observed at 24,000, followed by 24,200 & 24,300, indicating potential resistance at the 24,100 -24,200 levels.
The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,800 & 23,800, 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

What’s happening in India

Tata Consultancy Services reported strong Q4FY26 results with net profit rising 29% QoQ to ₹13,718 crore and revenue up 5.4% to ₹70,698 crore. Margins improved to 25.3%, while deal wins remained robust with $12 billion TCV for the quarter and $40.7 billion for FY26. Dive deeper

TCS added 2,356 employees in Q4FY26, though attrition edged up to 13.7% on an LTM basis, indicating continued talent churn. Dive deeper

Wipro Limited will consider a share buyback alongside Q4 results on April 16, following a 20% stock decline YTD and ongoing debate on capital allocation vs AI investments. Dive deeper

The Indian rupee weakened by 9 paise to 92.63/$ amid continued geopolitical tensions in West Asia and uncertainty around the Strait of Hormuz. Dive deeper

HFCL shares jumped 6% after its subsidiary HTL secured ₹1,366 crore optical fibre cable orders from a Tier-1 client. Dive deeper

KEC International shares were in focus after winning fresh orders worth ₹2,518 crore across multiple business segments, signalling strong execution momentum. Dive deeper

Bharat Heavy Electricals Limited signed a technology collaboration agreement with South Korea’s E2S to enhance its excitation systems capabilities. Dive deeper

What’s happening globally

Oil prices surged over 4% as doubts around a fragile Middle East ceasefire heightened fears of continued supply disruptions. Concerns remain that flows through the Strait of Hormuz will stay restricted, with shippers still hesitant to resume transit. Dive deeper

Refined fuel prices in Asia fell sharply in line with crude after a tentative US–Iran ceasefire, but remain elevated, signalling underlying supply tightness. Dive deeper

US initial jobless claims rose moderately by 16,000 to 219,000, indicating a stable labour market and giving the Federal Reserve room to hold rates amid geopolitical uncertainty. Dive deeper

The US economy grew at a slower 0.5% annualised rate in Q4 2025, revised down from earlier estimates due to weaker investment and softer consumer spending. Dive deeper

Germany’s exports rose 3.6% MoM to a three-year high of €135.2 billion in Feb 2026, driven by strong shipments to EU and non-EU countries, beating expectations. Dive deeper

Eurozone bond yields rose as ceasefire hopes remained uncertain, with Donald Trump signalling continued military presence unless a deal with Iran is reached. Dive deeper

The Walt Disney Company plans to cut up to 1,000 jobs, largely in marketing, as part of restructuring efforts initiated before CEO Josh D’Amaro took charge. 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.

Aarthi Subramanian, ED - President and COO of TCS, on AI adoption by the company:

“FY26 marked a pivotal year for enterprise AI adoption. In Q4, our annualized AI revenues surpassed $2.3 billion, driven by the accelerated deployment of AI solutions. We experienced strong deal momentum across new services in Enterprise Transformation, Digital Engineering, and Cloud Modernization. Our investment in HyperVault was a catalyst in forging strategic partnerships with OpenAI, AMD, and ABB, further strengthening our positioning across Infrastructure-to-Intelligence.” - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

We’re now on WhatsApp!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Nifty skyrockets to 24,000 as market cheers US-Iran ceasefire

Zerodha — Wed, 08 Apr 2026 12:52:06 GMT

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.

Check out In The Money

Market Overview

Nifty opened with a massive 732-point gap-up at 23,855, following the ceasefire announcement between the US and Iran, as crude oil prices crashed over 15% to below $95 per barrel, signalling easing geopolitical tensions. After the sharp opening, Nifty gradually edged higher, tracking RBI policy and reclaiming the 23,900 mark and moving toward the 23,950–24,000 zone by 11 AM, with dips being bought into and momentum remaining positive.

After an intraday cooldown to the 23,900 levels, the index largely consolidated in the second half near the highs, oscillating in a narrow range between 23,950 and 24,000. Despite minor pullbacks, the overall tone remained firm, with no significant selling pressure emerging.

Nifty eventually closed higher by 3.8% at 23,997.35, marking one of the best sessions of the year driven by a sharp gap-up, steady follow-through buying, and consolidation near the highs, reflecting improved sentiment amid easing geopolitical risks.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, and key domestic cues.

Broader Market Performance:

The broader market had one of the best bullish sessions of the year today. Of the 3,370 stocks that traded on the NSE, 2,960 advanced, 341 declined, and 69 remained unchanged.

Sectoral Performance:

Nifty Realty was the top gainer, rising 6.75%, while Nifty IT was a relative underperformer, up just 0.52%. All 12 sectors closed in green, with 0 sectors in red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 13th April:

The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,000, indicating potential resistance at the 24,100 -24,200 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 23,900 & 23,800, suggesting support at 22,800-22,700.

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

What’s happening in India

The RBI kept the repo rate unchanged at 5.25% and maintained a neutral stance, citing inflation risks and global uncertainties. Dive deeper

The RBI projected GDP growth for FY27 at 6.9%, lower than the 7.6% expected for FY26, indicating a moderation in economic momentum. It also raised its inflation forecast for FY27 to 4.6% from 4.2%, signalling persistent price pressures. Dive deeper

The rupee strengthened 50 paise to 92.56 per dollar after a two-week US-Iran ceasefire announcement boosted risk sentiment. Dive deeper

India’s 10-year bond yield fell to around 6.9%, hitting a two-week low after the RBI kept rates unchanged and signaled policy stability. Dive deeper

LIC shares surged about 7% after the company announced a board meeting on April 13 to consider a potential bonus share issue, which would be its first ever. Dive deeper

Adani Group stocks rallied up to 13% after Gautam Adani moved a US court to dismiss the SEC civil case, lifting investor sentiment across group companies. Dive deeper

The government has expanded bulk commercial LPG allocation to more industrial sectors, allowing up to 70% of pre-March consumption. Dive deeper

India has ordered major airports to cut landing and parking charges by 25% for domestic flights for three months to support airlines. Dive deeper

Titan Company shares rose up to 5.7% to a record high after reporting strong Q4 performance. Domestic sales jumped 42%, while its core jewellery segment grew 46% YoY, driven by higher gold prices and increased buyer volumes. Dive deeper

BMW reported its highest-ever Q1 sales in India at 4,567 units, up 17% YoY from 3,914 units, reflecting strong demand in the premium auto segment. Dive deeper

What’s happening globally

WTI crude plunged over 15% to below $95 per barrel after a temporary US-Iran ceasefire and plans to reopen the Strait of Hormuz eased supply concerns. Dive deeper

Gold rose nearly 2% to around $4,790 per ounce, hitting its highest level since March 19 as a US-Iran ceasefire eased inflation concerns. Dive deeper

UK 10-year gilt yields fell to around 4.65% as a US-Iran ceasefire drove a sharp drop in oil prices. Dive deeper

Silver surged over 5% to around $76.7 per ounce, hitting its highest level since mid-March after the US-Iran ceasefire eased inflation concerns. Dive deeper

The US 10-year Treasury yield fell to around 4.25%, a near three-week low, after a US-Iran ceasefire eased inflation concerns. 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.

Reserve Bank Governor Sanjay Malhotra, on Interest rate trajectory and transmission:

“Structurally, long-term, macroeconomic fundamentals, because of various measures which the government has taken, which the RBI has taken, which various institutions have taken, remain very strong and continue to drive growth on the one hand and at the same time keep price pressures contained”.
“So, it’s quite possible that even in the short to medium term, we will continue to have low rates,”
Banks have passed on about 90 basis points reduction on the lending side against 125 basis points moderation in the repo rate.
“Similarly, on the deposit side, it’s more than 100. So, there has been a satisfactory transmission.” - Link

Anubhuti Sahay, Head of India Economics Research, Standard Chartered Bank, on the RBI Policy:

“The RBI’s projections appear more optimistic than market expectations.”
“At the same time, there is clear caution around inflation and FX volatility.”
“The stance reflects a balanced approach, supporting growth while monitoring external risks.” - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

We’re now on WhatsApp!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Nifty tops 23,100, brushing aside global uncertainty ...for now

Zerodha — Tue, 07 Apr 2026 12:24:28 GMT

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.

Check out In The Money

Market Overview

Nifty opened with a gap down of 130 points at 22,839, following weak global cues and a rise in oil prices. After testing 22,720-750 in the opening ticks, the index quickly recovered from the early dip, moving higher toward the 22,950 zone by 10:30 AM as buying emerged at lower levels.

After a brief cool-down till 22,850, Nifty gradually climbed back to 22,950 and consolidated between 22,900 and 950 till 1:30 PM. After that, the buying interest strengthened further, pushing Nifty higher toward the 23,100–23,050 zone. Despite a few minor pullbacks, the index maintained its upward bias, making higher highs.

In the final hour, the rally picked up pace, with Nifty extending gains sharply and testing the 23,130–23,150 zone. The index eventually closed near the day’s highs at 23,123.65, marking a strong recovery session driven by steady buying through the day after a weak start.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, RBI’s monetary policy, and key domestic cues.

Broader Market Performance:

The broader market had a bullish session today. Of the 3,314 stocks that traded on the NSE, 2,082 advanced, 1,149 declined, and 83 remained unchanged.

Sectoral Performance:

Nifty IT was the top gainer, rising 2.50%, while Nifty PSU Bank was the top loser, down 0.71%. Overall, 10 sectors closed in green, and 2 sectors ended in red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 13th April:

The maximum Call Open Interest (OI) is observed at 23,500, followed by 23,000, indicating potential resistance at the 23,300 -23,400 levels.
The maximum Put Open Interest (OI) is observed at 23,000, followed by 22,900 & 22,800, suggesting support at 22,900-22,800.

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

What’s happening in India

The rupee edged higher to just above 93 per dollar, supported by the unwinding of arbitrage positions ahead of an RBI deadline. Dive deeper

Foreign portfolio investors sharply cut exposure to financials in March, with $6.5 billion in outflows, the highest for the sector since 2012, per NSDL. Financial services accounted for 51.6% of total FPI selling, with overall equity outflows at $12.6 billion during the month. Dive deeper

Jubilant FoodWorks shares fell over 10% to their lowest since March 2024 after weak Q4 performance raised concerns about growth and margins. Same-store sales growth slowed sharply to just 0.2%, down from 5% in the previous quarter, signalling demand softness. Dive deeper

Kalyan Jewellers reported a 64% year-on-year revenue growth in Q4 FY26, driven by strong performance in its India business. Dive deeper

Tata Steel reported record annual crude steel output in India for FY26, driven by capacity ramp-up and strong domestic demand. Dive deeper

The government has doubled the allocation of 5 kg free trade LPG cylinders to states to support migrant labourers amid the ongoing energy crisis. Dive deeper

PC Jeweller shares rose after the company reported around 32% year-on-year revenue growth in Q4, supported by strong business performance. Dive deeper

BPTP has awarded a ₹488 crore construction contract to NCC Ltd for its residential project in Gurugram. The deal reflects continued investment in real estate development and execution of large-scale housing projects in the region. Dive deeper

What’s happening globally

Brent crude eased toward $109 per barrel after earlier gains as markets awaited a US deadline for Iran on reopening the Strait of Hormuz. Dive deeper

Gold edged up to around $4,680 per ounce, recovering slightly as investors adopted a cautious stance amid ongoing Iran tensions. Dive deeper

The US Logistics Manager’s Index rose to 65.7 in March, its highest since May 2022, indicating strong expansion in the freight sector. Dive deeper

China’s foreign exchange reserves fell by $85.7 billion to $3.34 trillion in March, marking the sharpest drop in a decade. Dive deeper

The Japanese yen weakened toward 160 per dollar, nearing levels that previously triggered intervention, as a strong dollar and rising oil prices added pressure. Dive deeper

Anthropic has partnered with Google and Broadcom to secure large-scale AI chip capacity, including access to TPU-based compute infrastructure. Dive deeper

Samsung reported an eight-fold jump in quarterly profit, beating estimates as strong demand for AI memory chips boosted volumes and margins. 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.

Tanvee Gupta Jain, Chief India Economist, UBS, on RBI’s approach in the current environment:

“The RBI is likely to prioritise managing INR volatility over liquidity in the current environment.”
“Global uncertainties and elevated crude oil prices are key risks influencing the central bank’s approach.”
“The focus will be on stabilising the currency amid external pressures rather than easing liquidity conditions.” - Link

Sumit Jain, Analyst, CLSA, on the war’s impact on the IT sector:

“The Iran war is a bigger threat to the IT sector than AI at this stage.”
“So far, there is no evidence of AI-led deflation in contracts.”
“A few companies have flagged delays in decision-making due to AI adoption and the Middle East crisis.” - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

So, we’re now on Reddit!

We love engaging with the perspectives of readers like you. So we asked ourselves - why not make a proper free-for-all forum where people can engage with us and each other? And what’s a better, nerdier place to do that than Reddit?

So, do join us on the subreddit, chat all things markets and finance, tell us what you like about our content, and where we can improve! Here’s the link — alternatively, you can search r/marketsbyzerodha on Reddit.

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Nifty closes near 23,000 as market breadth continues to get better

Zerodha — Mon, 06 Apr 2026 12:40:32 GMT

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 video series, we focus on the indicators that help us read intraday market structure and identify short-term trends. As Nassim Taleb highlights through the Ludic Fallacy, we often fall into the trap of assuming the future will mirror the structured patterns of the past. Indicators are merely "market footprints"—they describe where the market has been, but they cannot eliminate the uncertainty of where it is going next.

Check out In The Money

Market Overview

Nifty opened with a gap up of 67 points at 22,780. However, the index saw some initial volatility and slipped toward the 22,560–22,580 zone within the first hour as early selling pressure emerged.

After the weak start, Nifty remained in a range between 22,550 and 22,650 till 11:30 AM and gradually stabilised and began to recover through the late morning session, reclaiming the 22,700–22,750 zone by noon. The momentum picked up sharply post 12:30 PM, with the index breaking out of its earlier range and moving decisively higher toward the 22,850 zone.

In the second half, buying strengthened further, with Nifty making a series of higher highs and crossing the 22,900 mark. The rally extended into the final hour, pushing the index close to the 23,000 zone. Although there was a slight pullback from the day’s highs, Nifty managed to hold on to most of its gains.

The index eventually closed at 22,968.25, marking a strong session driven by first-half weakness, sharp post-noon breakout, sustained buying in the second half, and a steady uptrend into the close.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, RBI’s monetary policy, and key domestic cues.

Broader Market Performance:

The broader market had a very strong bullish session today. Of the 3,346 stocks that traded on the NSE, 2,511 advanced, 746 declined, and 89 remained unchanged.

Sectoral Performance:

Nifty Consumer Durables was the top gainer, rising 2.60%, while Nifty Media was the top loser, down 0.22%. Overall, 11 sectors closed in green and 1 sector ended in red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 7th April:

The maximum Call Open Interest (OI) is observed at 23,200, followed by 23,000, indicating potential resistance at the 23,100 -23,200 levels.
The maximum Put Open Interest (OI) is observed at 22,500, followed by 22,600 & 22,700, suggesting support at 22,700-22,600.

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

What’s happening in India

HDFC Bank Ltd. reported steady Q4 growth, with advances rising 17% YoY to ₹25 lakh crore, driven by retail and SME lending, while corporate growth remained calibrated. Deposits grew to ₹23.5 lakh crore, but slower CASA accretion led to a slightly lower ratio and kept the credit-deposit ratio elevated at 106–108%, indicating tight liquidity conditions. Dive deeper

Amul became the first Indian FMCG company to cross ₹1 lakh crore turnover in FY26, posting 11% YoY growth, marking a major milestone for the consumer sector. Dive deeper

NMDC shares rose after increasing iron ore prices, Baila Lump by ₹500 to ₹5,300/tonne and Baila Fines to ₹4,500/tonne, boosting revenue outlook. Dive deeper

Aurobindo Pharma approved a ₹800 crore buyback of up to 54.23 lakh shares at ₹1,475 each, offering 10% premium to its current market price. Dive deeper

JSW MG Motor India reported 66% YoY growth in EV sales to 62,591 units in FY26, with March sales up 19%, led by strong demand for the MG Windsor. Dive deeper

Wipro Limited signed an 8-year strategic deal with Olam Group worth over $1 billion, including $800 million committed spend. Dive deeper

Nykaa reported its strongest growth in three years, with Q4 revenue rising in the high-20% range, driven by fashion recovery and steady beauty demand. Dive deeper

Trent Limited shares surged 8% after strong Q4 updates, with revenue up 20% YoY to ₹4,937 crore and FY26 revenue growing 18% to ₹19,701 crore, supported by store expansion. Dive deeper

What’s happening globally

Brent crude slipped 0.6% to $108.39/bbl while WTI fell 1.2% to $110.21, as markets weighed US–Iran talks and uncertainty over supply disruptions. Choppy trade reflects caution despite ongoing shipping risks. Dive deeper

Gold stayed below $4,700/oz after a sharp fall, as investors assessed potential Middle East ceasefire developments. Dive deeper

Saudi Aramco raised Arab Light crude premiums for Asia to a record $19.50 over benchmarks, driven by tight supply and Strait of Hormuz disruptions. Dive deeper

Facebook parent Meta is reportedly laying off 200 employees in Silicon Valley as it accelerates AI adoption and restructuring efforts. Dive deeper

OPEC+ agreed to raise output by 206,000 bpd for May, though actual supply gains may be limited due to war-driven disruptions and reduced exports via the Strait of Hormuz. Dive deeper

Bank of Japan warned that rising oil prices and supply shocks could hurt growth, signalling caution even as inflation risks rise, complicating rate hike decisions. Dive deeper

Israel restored gas exports to Egypt to ~1.1 bcfd after restarting production at the Leviathan and Tamar fields, easing some regional supply concerns. Dive deeper

Copper futures rose toward $5.6/lb, recovering from prior losses as optimism over a potential ceasefire improved market sentiment. 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.

Finance Minister Nirmala Sitharaman, ahead of the RBI policy on interest rate and the global economy:

"RBI to cut interest rate and has room to offer targeted support to affected sectors."
“The world economy is witnessing volatility, uncertainty, complexity and ambiguity.”
"Middle East conflict evolved into a systemic tremor threatening vital arteries of global energy” - Link

Jamie Dimon, CEO of JPMorgan Chase, on the impact of the war in Iran:

“Now, because of the war in Iran, we additionally face the potential for significant ongoing oil and commodity price shocks, along with the reshaping of global supply chains, which may lead to stickier inflation and ultimately higher interest rates ‌than markets currently expect.”
The US economy continued to be ⁠resilient, with consumers still earning and spending, though with some recent weakening, and businesses are still healthy.
But the economy had been fuelled by large amounts of government deficit spending and past stimulus, ‌while increased expenditure on infrastructure remained a growing need. - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

So, we’re now on Reddit!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Massive reversal in the second half propels a green close

Zerodha — Thu, 02 Apr 2026 12:23:22 GMT

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 video series, we focus on how API usage in trading is evolving from a flexible system to a more structured and regulated framework.

As we approach April 2026, traders need to rethink how they build, deploy, and manage their automated strategies. API trading has long enabled a shift from manual execution to rule-based systems, but with new requirements like static IPs, order tagging, and compliance layers, the way traders interact with broker systems is changing significantly.

Instead of reacting to scattered updates, this episode breaks down the regulations in a clear and practical way. We cover where these rules come from, what exactly changes from April 1st, 2026, and how different setups like solo traders, family accounts, and third-party tools are impacted.

Check out In The Money

Market Overview

Nifty opened with a sharp 296-point gap-down at 22,383, following weak global cues and a spike in oil prices after Trump’s speech indicated no immediate end to the war. The index immediately fell further, slipping toward the 22,200–22,250 zone within the first hour as selling persisted, making lows around the 22,180 mark.

Through the late morning session, Nifty traded largely sideways, gradually recovering toward the 22,250–22,300 range by 12:30 PM, after which the buying interest started picking up, helping the index break above the 22,350 mark by 1 PM.

In the second half, momentum strengthened significantly. Nifty moved sharply higher around 1:20-1:30 PM, crossing 22,500 and extending gains toward the 22,630–22,670 zone. After a small dip to 22,570, the rally intensified in the final hour, with the index surging to test the 22,750 range.

Despite a slight pullback from the highs, Nifty held on to most of its gains and eventually closed at 22,713.10, marking a strong recovery session after a weak start, driven by steady buying through the second half and a sharp late surge.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, the Rupee’s weakness, and key domestic cues.

Broader Market Performance:

The broader market staged a strong comeback in the second half today. Of the 3,311 stocks that traded on the NSE, 2,020 advanced, 1,216 declined, and 75 remained unchanged.

Sectoral Performance:

Nifty IT was the top gainer, rising 2.60%, while Nifty Consumer Durables was the top loser, down 0.93%. Overall, 6 sectors closed in green, and 6 sectors ended in red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 7th April:

The maximum Call Open Interest (OI) is observed at 23,000, followed by 23,200, indicating potential resistance at the 23,000 -23,100 levels.
The maximum Put Open Interest (OI) is observed at 22,500, followed by 22,200 & 22,300, suggesting support at 22,400-22,300.

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

What’s happening in India

The Indian rupee surged 1.8% to close at 93.10/$, marking its best single-day gain since September 2013, after the Reserve Bank of India tightened measures against speculative bets. The currency rebounded sharply from a record low of 95.21 to an intraday high of 92.83. Dive deeper

India’s 10-year G-Sec yield rose to 7.1%, the highest since May 2024, tracking the surge in crude prices. Inflation concerns have intensified, raising expectations of potential rate hikes by the Reserve Bank of India. Dive deeper

Astra Microwave Products Ltd’s JV Astra Rafael Comsys secured a ₹250 crore order from Hindustan Aeronautics Ltd to supply Software Defined Radios within 18 months. The JV, partnered with Rafael Advanced Defense Systems Ltd, aligns with the Make in India push. Dive deeper

Vodafone Idea added users in February for the first time in five years (+21,927), while Bharti Airtel led additions with 50.88 lakh users. Reliance Jio added 17.41 lakh, taking India’s total subscriber base to 132.13 crore. Dive deeper

Royal Enfield reported 11% YoY growth in March retail sales to 1.12 lakh units, with domestic sales up 14% while exports fell 8%. FY sales rose 23% to 12.39 lakh units, driven by strong domestic and export growth. Dive deeper

Ola Electric saw strong momentum after cutting the price of its Roadster X+ 9.1 kWh by ₹60,000 to ₹1,29,999, driven by scale efficiencies and in-house battery tech. The company also reported a sharp recovery in March, with daily orders crossing 1,000 and registrations jumping 150% MoM to 10,117 units. Dive deeper

What’s happening globally

Oil prices climbed above $107/bbl as Donald Trump signalled more aggressive strikes on Iran, dampening hopes of a quick end to the Middle East conflict. Dive deeper

US equity futures pulled back by 1-1.5% as escalatory rhetoric by President Trump supported concerns of a prolonged war in Iran and higher risks of a global energy shock. Dive deeper

Gold fell 4% towards $4,600 and silver over 7% towards $70 as the US dollar strengthened after Trump’s address, which indicated no immediate end to the conflict and possible escalation in the coming weeks. Dive deeper

The US administration may impose tariffs of up to 100% on imported branded drugs if pricing agreements are not reached, as per multiple reports. The move follows a probe under Section 232 of the Trade Expansion Act. Dive deeper

Germany’s 10-year Bund yield rose above 3%, nearing its highest since 2011, as Middle East tensions pressured European bond markets. Dive deeper

Australia’s trade surplus widened sharply to AUD 5.69 billion in February, beating expectations, driven by a 4.9% rise in exports and a decline in imports. 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.

Dr Iman Nasseri, managing director for Middle East research at FGE Dubai, on Oil Market:

"About 10 to 20% of the gas is disrupted and will not come back, even if the war situation ends."
The market has already priced in a significant loss of supply and is unlikely to stabilise soon. "We're far from a calm crude market in April and May."
"The infrastructure that brings the crude oil to the market... these are not at the level of creating distress in the market." These disruptions remain manageable and can be offset by spare capacity. - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

So, we’re now on Reddit!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Positive global cues lift Nifty near 22,700

Zerodha — Wed, 01 Apr 2026 12:20:04 GMT

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 video series, we focus on how API usage in trading is evolving from a flexible system to a more structured and regulated framework.

Check out In The Money

Market Overview

Nifty opened with a sharp 568-point gap-up at 22,899, following positive global cues. However, the index failed to sustain the early momentum and slipped from the opening highs, drifting toward the 22,800 zone.

The weakness continued through the morning session, with Nifty gradually moving lower and testing the 22,750 range around late morning. A brief recovery attempt around 1 PM pushed the index back toward the 22,850–22,900 zone, but the upside remained capped.

In the second half, selling pressure intensified, especially post 1:15 PM, dragging Nifty sharply lower toward the 22,650–22,670 zone. The index remained under pressure through the final hour, though a mild recovery towards 22,750 helped it bounce slightly from intraday lows. Nifty eventually closed at 22,679.4, marking a session where a strong gap-up faded into steady selling, with markets giving up most of their early gains amid persistent intraday weakness.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, the Rupee’s weakness, and key domestic cues.

Broader Market Performance:

The broader market had an extremely strong bullish session today. Of the 3,322 stocks that traded on the NSE, 2,936 advanced, 283 declined, and 103 remained unchanged.

Sectoral Performance:

Nifty PSU Bank was the top gainer, rising 3.70%, while Nifty Pharma was the only laggard, down 0.99%. Overall, 11 sectors closed in green and 1 sector ended in red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 7th April:

The maximum Call Open Interest (OI) is observed at 23,000, followed by 23,200, indicating potential resistance at the 23,100 -23,200 levels.
The maximum Put Open Interest (OI) is observed at 22,500, followed by 22,700, suggesting support at 22,500-22,400.

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

What’s happening in India

Commercial LPG cylinder prices were increased by ₹195.5 to ₹2,078.5 in Delhi, a rise of over 10%. ATF prices for international and chartered flights have more than doubled, while the government capped the increase for domestic flights at 25%. OMCs are currently facing under-recoveries of about ₹380 per cylinder. Dive deeper

GST collections crossed ₹2 lakh crore in March, up ~9% YoY from ₹1.83 lakh crore. Domestic GST growth remained modest at 6%, while import-driven collections saw a stronger 18% rise, indicating external demand contribution. Dive deeper

Maruti Suzuki India reported total sales of 2,25,251 units in March, up 16.72% YoY from 1,92,984 units. Domestic passenger vehicle sales came in at 1,66,219 units, growing 10.27% YoY from 1,50,743 units in March 2025, indicating steady demand in the local market. Dive deeper

Mangalore Refinery and Petrochemicals Ltd increased LPG production by over 10 lakh kg per day. The move follows the US-Israel-Iran conflict and the closure of the Strait of Hormuz, which disrupted cargo flows and tightened supply. Dive deeper

The government has clarified that GAAR will not apply to exits from investments made before April 1, 2017, removing a long-standing overhang for foreign investors. This provides relief to private equity, venture capital, and sovereign funds holding legacy investments in India. Dive deeper

Defence stocks rallied sharply, with the Nifty India Defence index gaining nearly 6% amid strong sector tailwinds after Donald Trump hinted at exiting NATO, along with domestic support as Rajnath Singh cleared defence deals worth ₹2.38 lakh crore, boosting sentiment. Dive deeper

The government has mandated 40% recycled content in F&B packaging from April 1, 2026, rising to 60% by 2028-29. Stocks like Ganesha Ecosphere and Uflex were in focus on expected demand tailwinds. Dive deeper

Shares of IndiGo were in focus after appointing industry veteran Willie Walsh as CEO. This comes shortly after the exit of former CEO Pieter Elbers. Dive deeper

NSE has collaborated with Indian Gas Exchange Limited to launch exchange-traded derivatives on natural gas, a first for any Indian exchange. The contracts will be priced against GIXI (Gas IndeX of India), IGX’s benchmark tracking actual domestic gas trades across six regional delivery hubs. Dive deeper

What’s happening globally

Brent crude fell 2% to $102/bbl as hopes of de-escalation in the Middle East weighed on prices. Donald Trump signalled a possible US withdrawal from Iran and hinted at a deal, though uncertainty persists with troop movements and no formal talks yet; markets now await his address for further cues. Dive deeper

Nvidia has invested $2 billion in Marvell Technology, bringing Marvell into its AI ecosystem. The partnership will enable custom AI infrastructure development, with Marvell stock jumping 12% and Nvidia up 1.5% premarket. Dive deeper

Oracle has reportedly laid off around 30,000 employees globally, with ~12,000 affected in India. Another round of job cuts is expected within a month, indicating continued restructuring. Dive deeper

The S&P Global Eurozone Manufacturing PMI rose to 51.6 in March 2026 from 50.8 in February, marking its strongest expansion since June 2022. The uptick was driven by supply disruptions from the Middle East conflict, with output hitting a seven-month high and new orders remaining strong, though growth stayed modest. Dive deeper

South Korea’s exports surged 48.3% year-on-year in March 2026 to a new record high of USD 86.13 billion, surpassing USD 80 billion for the first time, mainly boosted by semiconductors. 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.

U.S. President Donald Trump is considering exiting NATO:

“Oh yes, I would say [it’s] beyond reconsideration (pulling out of NATO). I was never swayed by NATO. I always knew they were a paper tiger, and Putin knows that too, by the way.” - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

So, we’re now on Reddit!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Nifty ends FY26 on a sombre note below 22,350

Zerodha — Mon, 30 Mar 2026 13:05:36 GMT

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 video series, we focus on how API usage in trading is evolving from a flexible system to a more structured and regulated framework.

Check out In The Money

Market Overview

Nifty opened with a big 270-point gap-down at 22,550, tracking weak global cues and the RBI capping banks’ net open forex positions (NOP-INR) at $100 million, effective April 10, 2026, which led to pressure on banking stocks. The index attempted a brief recovery in the opening minutes, moving toward the 22,650–22,700 zone, but selling pressure quickly resumed as Nifty drifted lower, slipping below 22,500 and continuing to trend down toward the 22,450–22,470 range. The intermittent pullback till 22,600 around 12:30 PM failed to sustain, keeping the index under pressure.

In the second half, selling remained steady and intensified further, with the index breaking below 22,350 and sliding steadily toward the 22,280–22,300 zone by 3 PM.

Over the last 30 minutes, Nifty bounced off intraday lows, recovering toward the 22,350–22,370 range. Despite this late pullback, the index eventually closed at 22,331.40, marking a weak session dominated by a gap-down start and persistent selling through the day.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, the Rupee’s weakness, and key domestic cues.

Broader Market Performance:

The broader market had an extremely weak session today. Of the 3,411 stocks that traded on the NSE, 570 advanced, 2,764 declined, and 77 remained unchanged.

Sectoral Performance:

Sectoral performance was weak across the board, with no sectors closing in the green. Nifty Metal was the least negative, down 0.21%, while Nifty PSU Bank was the top loser, falling sharply by 4.56%.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 7th April:

The maximum Call Open Interest (OI) is observed at 22,500, followed by 22,800 & 22,600, indicating potential resistance at the 22,700 -22,800 levels.
The maximum Put Open Interest (OI) is observed at 22,500, followed by 22,000, suggesting support at 22,100-22,000.

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

Source: Sensibull

What’s happening in India

Bank Nifty fell by nearly 4% after the RBI directed banks to cap their net open rupee positions in the foreign exchange market at $100 million by the end of each business day by April 10. Dive deeper

The rupee erased early gains and hit a record low of 95.22 intraday, pressured by rising oil prices, geopolitical tensions, and a strong dollar. Despite initial support from RBI measures, the currency fell sharply, down 160 paise from its opening level. Dive deeper

Indian bond yields surged, with the 10-year yield crossing 7% for the first time since July 2024, as fears of a prolonged Middle East conflict pressured fiscal outlook and rates. Dive deeper

India’s fiscal deficit reached 80.4% of the FY26 target at ₹12.53 lakh crore by February, lower than last year’s ₹13.46 lakh crore for the same period. Dive deeper

BHEL announced that it has secured a ₹13,500 crore order from NTPC for the main plant package of the 2,400 MW Telangana Stage-II thermal power project. Dive deeper

Industrial output growth improved to 5.2% in February from 4.8%, led by stronger manufacturing growth at 6%, despite slower mining and power output. Dive deeper

Shares of Hindalco, NALCO, and Vedanta were strong on a weak trading session as aluminium prices surged toward four-year highs after Iran-linked attacks hit Middle East smelters. Dive deeper

Jubilant FoodWorks said that it will not renew its franchise agreement to develop and operate Dunkin’ stores in India once the current pact expires at the end of 2026. Dive deeper

Coal India’s unit CMPDI listed at a 7% discount and ended the day down about 10.5%, reflecting weak investor sentiment. Dive deeper

What’s happening globally

WTI crude moved toward $100 per barrel amid escalating Middle East tensions, though gains were capped by hopes of a potential US-Iran deal. Dive deeper

Gold remained volatile around $4,600 per ounce as ongoing conflict kept safe-haven demand elevated. Dive deeper

Trump said the US is in talks with a “more reasonable regime” in Iran but warned of major strikes if the Strait of Hormuz is not reopened. Dive deeper

South Korean stocks fell nearly 3%, while the won hit a 17-year low amid fears of a widening Middle East conflict. Dive deeper

Germany’s inflation rose to 2.7% YoY in March, the highest since January 2024, driven by a sharp rebound in energy prices. 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 policymakers’ unconventional steps to protect the currency:

The Middle East situation is now in uncharted territory. That leads to unconventional policy actions. A move on sharp reduction of Indian banks’ open FX positions in a short period seems to be in that category. Reminds me of Bimal Jalan's playbook as RBI Governor in 1998 when the ₹ was depreciating sharply post Asian crisis. If things get worse geo-politically, is there an opportunity for a new version of the FCNR( B) scheme? - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

So, we’re now on Reddit!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Intermission is how business stories should be told

Zerodha — Sat, 28 Mar 2026 05:43:48 GMT

One of the reasons we attempted The Daily Brief, In The Money, The Chatter, Aftermarket report and other initiatives, as a bunch of nerds with no “media” experience of any sort, was how little we saw businesses studied with real care. A business is a thing of beauty. It is a terribly improbable formation — a tangle of buildings, machines, workers, raw materials, paperwork, bank accounts, and more — all held together only because it is the life’s work of many people.

Good business storytelling needs to understand this. It may express whatever opinion on the subject it covers, but it must hold reverence for enterprise at large.

Which is why we’re being absolutely serious when we tell you that you have to check out The Ken’s new podcast, called Intermission.

The Business of Colour: Asian Paints

Intermission isn’t a breezy listen. The first episode is a seven-hour long deep dive on Asian Paints. But it’s a show made with love and care. An entire month of research sits behind every hour you finally hear. That’s a rare thing in a time where a single prompt can create an unending waterfall of “content”. This, we assure you, isn’t content, it is craftsmanship. You’re probably sick of all the synthetic word-material we’re drawing in, but this is to slop what an Hermes bag is to the plastic output of a Chinese factory.

That care shows in little things.

Take it from us: when you’re really trying to tell the story of a business, you find yourself falling a little in love with its product — even when it looks mundane from the outside. That’s one of the first things you realise when listening to Intermission. It takes something as plain as paint, and marvels at it in a way that fills you with wonder too. Paint, as The Ken tells it, is at once a marvel of chemistry, history, texture, and so on. They spend an inordinate amount of time thinking about teflon. They throw in little nuggets, like how, in the middle ages, mixing colours was against the natural order of things. As they go through their many rabbitholes, paint becomes a little magical.

Part of that magic, though, comes from process. Paint is fascinating, in great part, because of the labours that go into the business of paint. They help you see the thin coating on your wall for what it is: a chain that begins in a distant chemistry lab, and then flows all the way through to your home; via factories and stockists and dealers and humble painters. You learn to appreciate the industry’s marvels, like how dealers can offer ten thousand shades of paint with just 500 litres of stock. You realise just how brutal the competition for painters’ loyalties can be. You learn to respect the complexity involved in painting a single wall. You see the entire machine, one gear at a time.

Meanwhile, The Ken also gives you a sense of the wider world in which Asian Paints’ story unfurls. The podcast gives you a glimpse of why this company had to begin in Mumbai; or why it was only a Gujarati businessman that could have run this company. It tells you just how important a single date — in this case, June 30, 1997 — can be to the life of a company. For brief periods, this becomes a history podcast rather than a business one. But that only makes you see the company as a living thing.

Above all, this is a well-told story. It is told with patience, and with detail, and with a sort of confidence you don’t always see in India. It respects you, dear reader, trusting that you will stay with it for seven hours because the story deserves that sort of time.

This is the kind of work we’re proud to support, in whatever little way, here at Zerodha.

Watch the first part here:

You can also listen to the podcast on Spotify, Apple Podcasts, or wherever you get your podcasts.

Friday blues hit the market once again !

Zerodha — Fri, 27 Mar 2026 13:17:55 GMT

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 video series, we dive into market structure statistics and challenge the idea that trading days follow predictable patterns. By breaking the day into segments, we explore how markets actually behave on most days and why trying to predict structure often doesn’t work.

This episode shifts the focus from prediction to probability, showing why most market days are random and how range, timing, and volatility define real scalping opportunities. It highlights why the first two hours and the last hour matter most, and how simple indicators can help you track these dynamics in real time.

Check out In The Money

Market Overview

Nifty opened with a gap down of 132 points at 23,174, following weak global cues, and immediately started to go down, with the index going below 23,000 within the first hour.

The weakness persisted through the morning session, with Nifty gradually drifting lower and slipping toward the 22,950 mark by late morning. The index continued to trade with a negative bias through noon, with only shallow pullbacks failing to sustain.

In the second half, selling pressure intensified further. Nifty broke below 22,900 and extended losses toward the 22,850 zone. In the final hour, markets remained under pressure, with the index slipping to intraday lows near the 22,800–22,820 zone and eventually settling at 22,819.60, marking a weak session dominated by sustained selling and a lack of meaningful buying support.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, AI-related news flow, and key domestic cues.

Broader Market Performance:

The broader market had an extremely weak session today. Of the 3,388 stocks that traded on the NSE, 503 advanced, 2,813 declined, and 72 remained unchanged.

Sectoral Performance:

Sectoral performance was broadly weak today, with no sectors closing in the green. Nifty IT was the least negative, down 0.44%, while Nifty PSU Bank was the top loser, falling 3.86%.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 30th March:

The maximum Call Open Interest (OI) is observed at 23,000, followed by 23,200 & 23,800, indicating potential resistance at the 23,100 -23,200 levels.
The maximum Put Open Interest (OI) is observed at 22,500, followed by 23,000, suggesting support at 22,600-22,500.

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

What’s happening in India

The rupee plunged past 94.7 per dollar to a record low, hit by the Middle East-driven energy crisis and persistent capital outflows. It is now on track for its worst fiscal-year decline in over a decade. Dive deeper

The government cut excise duty on petrol and diesel by ₹10 per litre, but retail prices may not fall immediately due to elevated global crude prices and supply stress. Dive deeper

Reliance Industries fell by more than 4% after the Government decided to levy an export duty on the sale of petrol and diesel in international markets. Dive deeper

Infosys has announced the acquisition of Optimum Healthcare IT and Stratus for about ₹5,260 crore to strengthen its presence in the US healthcare and insurance tech segments. Dive deeper

The government increased commercial LPG allocation to 70% of pre-crisis levels to support industries affected by supply disruptions from the Strait of Hormuz blockade. Dive deeper

India’s forex reserves fell sharply by $11.41 billion to $698.34 billion, extending the previous week’s decline of USD 7.05 billion. Dive deeper

HEG and Graphite India surged up to 5-12% after U.S.-based GrafTech International announced steep price hikes of $600–1,200 per tonne. The move is expected to improve pricing outlook and margins for global graphite electrode manufacturers. Dive deeper

What’s happening globally

U.S. President Donald Trump has delayed the deadline for potential strikes on Iran’s energy infrastructure by 10 days, pushing it to April 6, citing “productive” ongoing talks with Tehran. Dive deeper

WTI crude futures are back near $97 per barrel despite President Donald Trump extending the deadline for Tehran to secure a deal or face further attacks by another 10 days. Dive deeper

US equity futures fell to their lowest in nearly seven months on Friday as war in the Middle East and trade disputes heightened stagflationary risks to the economy. Dive deeper

AI firm Anthropic won a preliminary injunction blocking a Trump administration ban on government use of its technology, with a US judge pausing the move during the legal battle. The company argued the ban could have cost it billions in lost revenue. Dive deeper

Blackstone invested $250 million in UAE-based Advanced Digital Gaming Technology, marking the first private equity-backed inbound deal in the Gulf since the Iran war began. The move signals continued investor interest in the region despite geopolitical tensions. Dive deeper

Japan’s 10-year government bond yield rose to around 2.37%, its highest level since 1999, as oil-driven inflation pressures strengthened expectations of a Bank of Japan rate hike. A weakening yen and higher energy import costs further supported hawkish policy bets. Dive deeper

China’s industrial profits jumped 15.2% yoy in the first two months of 2026, rebounding sharply from 0.6% growth in 2025. It marked the strongest start since 2018, excluding the pandemic spike in 2021, underscoring China's recovery momentum before Middle East conflict-driven oil shocks lifted raw material costs. 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 Petroleum and Natural Gas Minister Hardeep Singh Puri on avoiding rumours:

“Rumours of a lockdown in India are completely false. Let me state this clearly, there is no such proposal under consideration by the Government of India. In such times, it is important that we remain calm, responsible, and united. Attempts to spread rumours and create panic in such a situation are irresponsible and harmful.” - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

So, we’re now on Reddit!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Relief rally continues as oil prices drop on de-escalation hopes

Zerodha — Wed, 25 Mar 2026 12:26:41 GMT

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 video series, we focus on an idea that is absolutely central to intraday trading: market structure statistics. We explore how skilled traders develop an intuitive feel for numbers and how you can use data as a framework to dramatically shorten your learning curve and avoid poor trading decisions. Because this episode is heavily data-driven, grab a notebook to follow along.

Check out In The Money

Market Overview

Nifty opened with a gap up of 152 points at 23,064, following further visible steps toward de-escalation, which led to a cooling in oil prices. The index saw steady buying right from the start, climbing gradually through the opening hour and moving toward the 23,250–23,300 zone.

The uptrend continued into the late morning session, with Nifty making higher highs and testing the 23,430–23,450 range around 12:30 PM. It largely held near these elevated levels through the early afternoon, indicating sustained buying interest.

However, After 2 PM, profit booking set in near the highs. The index gradually drifted lower, slipping from the 23,450 zone toward 23,290–23,300 in the last hour and eventually closed at 23,306.45, marking a positive session overall, though with some cooling off from intraday highs due to late profit-taking.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, AI-related news flow, and key domestic cues.

Broader Market Performance:

The broader market had a strong bullish follow-through session today. Of the 3,368 stocks that traded on the NSE, 2,425 advanced, 852 declined, and 91 remained unchanged.

Sectoral Performance:

Sectoral performance was strongly positive today, with Nifty Consumer Durables leading the gains, up 3.51%, while Nifty IT was the least positive performer, rising just 0.08%. Overall, all 12 sectors closed in green, with 0 sectors in red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 30th March:

The maximum Call Open Interest (OI) is observed at 23,500, followed by 23,000 & 23,800, indicating potential resistance at the 23,500 -23,600 levels.
The maximum Put Open Interest (OI) is observed at 23,000, followed by 23,200, suggesting support at 23,100-23,000.

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

Source: Sensibull

What’s happening in India

The rupee hovered near 94 per dollar, stabilizing close to record lows as easing oil prices improved sentiment. However, persistent FPI outflows and strong dollar demand continue to limit any meaningful recovery. Dive deeper

S&P Global raised India’s FY27 growth forecast by 40 bps to 7.1%, driven by resilient consumption, improving private investment, and steady exports. However, it flagged downside risks from geopolitical tensions and trade uncertainties, which could impact commodity prices, trade flows, and capital movement. Dive deeper

Volatility in crude oil prices is raising inflation risks in India ahead of the RBI’s April policy meeting, with spillovers through fuel, fertiliser and currency channels. Dive deeper

Indian refiners have secured around 60 million barrels of Russian oil for next month, helping ease supply concerns amid disruptions from the Middle East conflict. The cargoes were bought at premiums of $5–$15 over Brent, with volumes more than doubling compared to February, according to Kpler data. Dive deeper

India has ordered steps to accelerate natural gas infrastructure development, aiming to ease supply constraints amid disruptions from the Middle East conflict. Dive deeper

The government has extended the PM E-Drive scheme until March 2028 due to slow fund utilisation since its launch in 2024. Dive deeper

Natco Pharma has approved a scheme to demerge its agrochemicals business into its wholly owned subsidiary Natco Crop Health Sciences. Shareholders will receive shares in the new entity in a 1:1 ratio as part of the restructuring. Dive deeper

Biocon is expected to gain market share in Europe’s insulin segment as Eli Lilly joins Novo Nordisk in exiting some parts of the market. Dive deeper

Reliance Jio is reportedly in talks with about 13 foreign investors to reduce their individual stakes by around 8% ahead of its IPO. Dive deeper

Eternal and Swiggy shares rose about 2% following recent platform fee hikes, supporting near-term sentiment. Dive deeper

Employment in India’s unincorporated sector rose 6.18% to 12.8 crore in 2025, adding over 74 lakh jobs. The growth was broad-based, with strong expansion in establishments and GVA across trade, manufacturing, and services. Dive deeper

Manappuram Finance shares rose about .5% after Bain Capital’s open offer to acquire a 26% stake is set to open on April 6 and run till April 20. Dive deeper

What’s happening globally

Brent crude fell about 4% to near $94 per barrel as reports of potential US-led ceasefire talks with Iran eased supply concerns. Dive deeper

Gold rose above $4,500 per ounce as optimism over potential US-Iran talks boosted sentiment. Dive deeper

Silver rose above $73 per ounce, extending gains as optimism over potential US-Iran talks improved market sentiment. Dive deeper

UK inflation held steady at 3% in February, in line with expectations, with higher clothing and housing costs offset by easing fuel and food prices. Dive deeper

The dollar index held near 99.4 as markets weighed prospects of de-escalation in the Iran conflict. Dive deeper

Japanese government bonds rose for a second straight session as a decline in crude oil prices eased inflation concerns, supporting demand for safer assets. 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.

Brad Smith, President, Microsoft on data centres:

“Gaining the approval of local communities has become paramount to building data centres in the U.S.”
“We need to be a good neighbour in the communities where we build and operate our data centres.”
“Communities value jobs and revenue, but not if they come with higher power bills or tighter water supplies.” - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

So, we’re now on Reddit!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Nifty reclaims 22,900, tests 23,000 as tensions show early signs of easing

Zerodha — Tue, 24 Mar 2026 12:16:45 GMT

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.

Check out In The Money

Market Overview

Nifty opened with a sharp 366-point gap-up at 22,878, following Donald Trump’s announcement of a temporary pause on planned US military strikes against Iran, along with a cooling in crude oil prices. However, the index saw some volatility as it slipped toward the 22,700–22,650 zone by 10:30 AM as the bearish trend from the past few days continued.

As the session progressed, buying interest picked up steadily through the late morning, with Nifty reclaiming the 22,800–22,850 zone by noon. The momentum strengthened further in the early afternoon, pushing the index to intraday highs near the 23,000–23,050 range around 1:45 PM.

After that, the index turned range-bound, oscillating between 22,900 and 22,980 as gains were capped near higher levels. A mild bout of profit booking in the final hour dragged Nifty slightly lower, but it managed to hold most of its gains. Nifty eventually closed at 22,912.40, marking a strong session led by a sharp gap-up, early morning dip, steady recovery through the day, and consolidation towards the end.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, AI-related news flow, and key domestic cues.

Broader Market Performance:

The broader market bounced back sharply today. Of the 3,371 stocks that traded on the NSE, 2,483 advanced, 809 declined, and 79 remained unchanged.

Sectoral Performance:

Sectoral performance was broadly positive today, with Nifty Media leading the gains, up 3.45%, while Nifty Energy was the least positive performer, rising 0.70%. Overall, all 12 sectors closed in green, with 0 sectors in red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 30th March:

The maximum Call Open Interest (OI) is observed at 23,000, followed by 23,200, indicating potential resistance at the 23,200 -23,300 levels.
The maximum Put Open Interest (OI) is observed at 23,000, followed by 22,500, suggesting support at 22,700-22,600.

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

What’s happening in India

India’s services PMI eased to 57.2 in March, indicating a slowdown in growth amid softer domestic demand and rising cost pressures. Dive deeper

India’s composite PMI fell to 56.5 in March, marking the slowest expansion since October 2022 as growth moderated across manufacturing and services. Dive deeper

India’s manufacturing PMI fell to 53.8 in March, marking the weakest expansion since September 2021 amid softer domestic demand and geopolitical uncertainty. Dive deeper

The rupee slipped nearly 50 paise to 93.73 per dollar, pressured by a stronger dollar and rising crude oil prices after cooling down till 93.20 yesterday on de-escalation hopes. Dive deeper

Shares of GSP Crop Science Ltd ended their debut with 10–11% gains after listing at a modest premium of 2.5–4% over the ₹320 issue price. Dive deeper

SEBI is considering allowing foreign portfolio investors (FPIs) into commodity derivatives, starting with non-agri segments like energy and metals. Dive deeper

L&T shares rebounded over 5% after signs of easing geopolitical tensions, following indications of possible progress toward ending the Iran conflict. Dive deeper

Bosch Limited and Tata AutoComp Systems have formed an equal-share joint venture to develop and manufacture eAxle systems and electric motors in India. Dive deeper

Coal India’s board has approved the sale of stakes in its subsidiaries SECL and MCL, with up to 25% divestment planned via an offer for sale. Dive deeper

Indian buyers are cutting vegetable oil imports, expecting the war-driven price surge to ease once geopolitical tensions subside. Dive deeper

What’s happening globally

WTI crude rose to around $91 per barrel, recovering part of the previous session’s sharp decline amid volatile trading. Prices remained sensitive to escalating Middle East tensions and the risk of broader regional involvement. Dive deeper

Gold hovered near $4,400 per ounce, staying close to multi-month lows amid volatile trading driven by Middle East tensions. Dive deeper

The dollar index rose to around 99.4 as investors sought safety amid ongoing Middle East tensions and persistent inflation concerns. Dive deeper

Japan’s 10-year bond yield eased to around 2.27%, pulling back from recent highs after softer inflation data reduced expectations of near-term rate hikes. Dive deeper

OpenAI CEO Sam Altman stepped down from Helion Energy’s board as the companies explored a potential large-scale partnership. Dive deeper

Airlines have cancelled multiple flights and shut routes across West Asia as the Iran conflict disrupts major aviation hubs like Dubai and Doha. 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.

Prime Minister Narendra Modi, in his Rajya Sabha speech, urged citizens to brace for challenges arising from the ongoing US-Iran war in West Asia:

“I urge citizens to be prepared for every challenge. The impact of this war may be long-lasting, but I assure the people that the government is alert and the nation’s interest remains paramount.”
“The challenges ahead will test us. I urge all states to act proactively, as in difficult times, it is labourers and the weaker sections who are affected the most. Steps must be taken to safeguard our migrant workers. State governments should also remain vigilant against black marketing, which tends to rise in such periods, and ensure that such practices do not take place" - Link

Ruth Porat, President & Chief Investment Officer, Alphabet (Google) on AI & Electricity:

“The US may not be scaling electricity fast enough for the expansion of artificial intelligence.”
“We need more energy development to support the growth of AI.”
“The vast amount of power required for AI data centres is a key challenge.” - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

So, we’re now on Reddit!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Brutal sell-off continues across the board as Nifty plunges to 22,500

Zerodha — Mon, 23 Mar 2026 12:40:58 GMT

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.

Check out In The Money

Market Overview

Nifty opened with a big 290-point gap-down at 22,824, tracking weak global cues following rising escalations between the US and Iran. The index immediately started falling as selling pressure quickly resumed, dragging it lower through the first hour toward the 22,570–22,600 range.

The weakness persisted through the late morning session, with Nifty gradually drifting lower and testing below the 22,500 zone, going towards 22,480 levels around noon. In the second half, the index remained largely range-bound between 22,500 and 22,550, with only a brief recovery attempt around 2 PM pushing it toward 22,650 following PM Modi’s speech on the West Asian conflict. However, the bounce lacked follow-through, and prices slipped back toward the lower end of the day’s range into the close. Nifty eventually settled at 22,512.65, marking a weak session dominated by a sharp gap-down, sustained selling, and a lack of meaningful recovery.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, AI-related news flow, and key domestic cues.

Broader Market Performance:

The broader market had a brutal bearish session today. Of the 3,420 stocks that traded on the NSE, 332 advanced, 3,008 declined, and 80 remained unchanged.

Sectoral Performance:

Sectoral performance was weak across the board, with no sectors closing in the green. Nifty IT was the least negative, down 0.18%, while Nifty Consumer Durables was the top loser, falling sharply by 5.17%.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 24th March:

The maximum Call Open Interest (OI) is observed at 23,000, followed by 22,700, indicating potential resistance at the 22,800 -22,900 levels.
The maximum Put Open Interest (OI) is observed at 22,000, followed by 22,500, suggesting support at 22,300-22,200.

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

What’s happening in India

The rupee weakened sharply toward 94 per dollar, amid escalating West Asia conflict, rising oil prices, and FPI outflows. Trade disruptions and energy costs are further pressuring the currency. Dive deeper

India’s 10-year bond yield climbed to a 14-month high of ~6.82%, driven by the surge in crude oil prices due to Middle East tensions. Rising yields reflect concerns over inflation and fiscal pressures. Dive deeper

India’s banking system liquidity slipped into a deficit of around ₹65,900 crore for the first time in 2026, reversing sharply from an average surplus of ₹2.5 lakh crore seen between February and mid-March.The shift was driven by heavy tax outflows and RBI currency interventions, which drained liquidity without sufficient offsetting inflows. Dive deeper

HDFC Bank shares hit a 52-week low of ₹750, weighed down by negative sentiment following the sudden resignation of Chairman Atanu Chakraborty. Dive deeper

Vedanta declared a third interim dividend of ₹11 per share for FY26, with a total payout of ₹4,300 crore. The record date to determine eligible shareholders has been set as March 28. Dive deeper

The government approved a ₹20,000 crore credit guarantee scheme (CGSMFI-2.0) to support microfinance institutions facing funding challenges. The scheme will cover loans extended to MFIs till end-June. Dive deeper

The government directed Tata Power’s 4 GW imported-coal plant in Gujarat to operate at full capacity from April to June to meet peak summer electricity demand. Dive deeper

What’s happening globally

Oil prices dropped sharply by 6% to $100 per barrel after President Donald Trump said he would delay military strikes on Iran’s energy infrastructure, easing supply disruption fears. Brent fell about 15% to $91.5 per barrel, while WTI dropped around 13.5% to $85 before recovering swiftly. Dive deeper

The US 10-year Treasury yield swung sharply and rose to around 4.39%, its highest since July, as markets reacted to mixed signals on US–Iran tensions. While a temporary pause in strikes initially eased yields, persistent inflation concerns from elevated oil prices led traders to scale back expectations of Fed rate cuts. Dive deeper

Gold pared sharp intraday losses to trade around $4,350 per ounce, down about 3%, after briefly plunging over 9% earlier in the session. The recovery came after President Trump postponed planned strikes on Iran for five days following “productive talks.” Dive deeper

UK 10-year government bond yields rose to 5.065%, their highest level since July 2008, as markets priced in four Bank of England rate hikes this year. The move reflects expectations of tighter monetary policy amid persistent inflation concerns. Dive deeper

Sri Lanka raised fuel prices by around 25% on Sunday, marking the second hike in a week as the West Asia conflict and Strait of Hormuz closure disrupted global energy supplies. Diesel, petrol, and kerosene prices were all sharply increased, with kerosene seeing the steepest rise of over 30%. Dive deeper

Steel rebar futures rose above CNY 3,150 per tonne, approaching their highest levels since August last year, as China moved to curb excess capacity despite weak demand. 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.

US President Donald Trump ordered a five-day pause on planned military strikes against Iran:

“I am pleased to report that the United States of America and the country of Iran have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East.”
“Based on the tenor and tone of these in-depth, detailed and constructive conversations, which will continue throughout the week, I have instructed the Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five-day period, subject to the success of the ongoing meetings and discussions.” - Link

Prime Minister Narendra Modi addressed the Lok Sabha on key aspects of the ongoing West Asia conflict:

“Crisis in West Asia created a negative impact on the world economy, people. West Asia war set unprecedented challenges for India too.”
“India has extensive trade relations with countries at war and affected by the conflict. The region where the conflict is taking place is also an important route for our trade with other countries around the world, particularly for a large portion of our crude oil and gas needs. This region is also important for us for another reason. Nearly 10 million Indians live and work in the Gulf countries. Commercial ships operate there. The number of Indian crew members is also very high. Due to these various reasons, India’s concerns are naturally greater. Therefore, it is essential that a unified voice and consensus reach the world regarding this crisis from the Parliament.” - Link

Roland Busch, CEO of Siemens, on the impact of the Iran ‌war on investments:

"Growth is throttled because of price increases. You ‌see ... customers holding back their investments. For example, oil and gas customers ‌or ⁠petroleum customers who were planning maybe a new plant... so ⁠it means investments are slowing down." - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

So, we’re now on Reddit!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Nifty comes off morning highs to end the week near 23,100

Zerodha — Fri, 20 Mar 2026 12:54:11 GMT

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.

Check out In The Money

Market Overview

Nifty opened with a gap-up of 108 points at 23,110. The index saw a volatile start, briefly pushing higher toward the 23,250–23,300 zone in the early minutes before witnessing a sharp pullback toward the 23,200 within the first hour.

During the late-morning session, buying interest picked up again, helping the index recover and move higher. Nifty climbed steadily and tested the 23,300–23,330 zone around 11:30 AM, marking the day’s high. However, the momentum failed to sustain, and the index began to slip sharply towards 23,130-23,150.

In the second half, after another bounce towards the 23,250-270 zone, weakness intensified with Nifty trending lower and forming lower highs. The index dropped toward the day’s lows near 23,070–23,080 zone around 2:45 PM as selling pressure picked up

A late recovery helped the index bounce back toward the 23,130–23,150 range, eventually settling at 23,114.5, ending the session with modest gains after a volatile day marked by sharp swings.

Looking ahead, markets are likely to remain sensitive to global geopolitical developments, risk appetite, AI-related news flow, and key domestic cues.

Broader Market Performance:

The broader market had a positive session today. Of the 3,325 stocks that traded on the NSE, 1,884 advanced, 1,337 declined, and 104 remained unchanged.

Sectoral Performance:

Sectoral performance was largely positive today, with Nifty IT leading the gains, up 2.17%, while Nifty Realty was the top loser, declining 0.93%. Overall, 9 sectors closed in the green, and 3 ended in the red.

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 24th March:

The maximum Call Open Interest (OI) is observed at 23,300, followed by 23,500, indicating potential resistance at the 23,400 -23,500 levels.
The maximum Put Open Interest (OI) is observed at 23,000, followed by 22,800, suggesting support at 22,900-22,800.

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

What’s happening in India

The rupee plunged 60 paise to a record low of 93.49 per dollar, pressured by rising crude prices, a stronger dollar, and continued FII outflows. Dive deeper

India’s 10-year bond yield rose to around 6.77%, a five-week high, as persistent oil price volatility raised concerns over inflation and tighter policy. Dive deeper

India’s eight core sector growth slowed to 2.3% YoY in February from 4% in January, dragged by declines in crude oil (-5.2%) and natural gas output. While cement output grew 9.3%, it eased from the previous month, indicating some moderation in construction activity. Dive deeper

Tata Power is set to restart its 4 GW Mundra plant after securing a new power purchase agreement, enabling coal costs to be passed through. Dive deeper

Indian asset managers sold government bonds at a record pace as a sharp rise in oil prices triggered concerns over inflation and tighter monetary conditions. Dive deeper

SBI shares rose after its subsidiary SBI Funds Management filed draft IPO papers with SEBI, marking progress toward listing India’s largest asset manager. Dive deeper

Nestlé India is expanding Munch chocolate production at its Sanand facility by adding a new line, increasing capacity by about 8,300 tonnes annually. Dive deeper

Eternal shares were in focus after Zomato raised its platform fee by ₹2.4 per order, boosting investor sentiment. Dive deeper

Vodafone Idea shares rose around 4.6% after data showed a narrowing of subscriber losses in January, indicating some stabilization in its user base. Dive deeper

India could face an import bill impact of ₹30,000–50,000 crore if elevated crude prices persist amid the Iran conflict. Dive deeper

What’s happening globally

WTI crude hovered around $96 per barrel as markets tracked Middle East tensions and supply developments. A planned release of global oil reserves helped cap prices, even as geopolitical risks kept volatility elevated. Dive deeper

Gold remained below $4,700 per ounce, heading for a sharp weekly decline as rising energy prices and inflation concerns reduced expectations of rate cuts. Dive deeper

Coal prices rose above $140 per ton, hitting their highest since October 2024 as disruptions in oil and gas markets increased reliance on coal for power generation. Dive deeper

The US 10-year Treasury yield rose to around 4.3%, its highest since August 2025, as markets assessed inflation risks from the Iran conflict. Dive deeper

UK industrial orders remained weak in March, though the decline eased slightly with the order book balance improving to -27. Dive deeper

The Euro Area posted a €1.9 billion trade deficit in January, missing expectations for a surplus as exports and imports both declined. Dive deeper

China’s FDI inflows fell 5.7% year-on-year to CNY 161.45 billion in January–February, reflecting broader investment weakness. Dive deeper

The Japanese yen strengthened to around 158 per dollar, supported by expectations of tighter Bank of Japan policy amid rising inflation risks. Dive deeper

OpenAI will acquire Python toolmaker Astral to strengthen its position in the AI coding tools market amid rising competition from Anthropic. 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.

Anindya Banerjee, Head of Commodity & Currency Research, Kotak Securities, on INR:

“As long as crude oil prices remain elevated, the rupee could continue to face depreciation pressures.”
“USDINR has surged, driven by the sharp rise in crude oil prices and a broader shortage of dollar liquidity.”
“The key variable to monitor now is the status of the Strait of Hormuz… prolonged disruptions could push USDINR further upward.” - Link

🧑🏻‍💻Have you checked out The Chatter?

Go check out The Chatter here.

So, we’re now on Reddit!

See you there!

Calendars

In the coming days, we have the following significant events and corporate actions:

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!

Aftermarket Report by Zerodha

Nifty nears 24,600 as strong FMCG earnings offset global concerns

Markets Today

Sectoral Indices Performance

Winners & Losers

Momentum Screener

Global Markets

Commodities

Bond Yields & Currency

FII / DII Flows

Thematic Indices

Change in OI for the day

Top Stories in India

Top Stories Globally

Management Chatter

Corporate Actions & Events

Corporate Actions

Earnings Calendar

Nifty closes flat as uncertainty & tensions resurface over the weekend

Markets Today

Sectoral Indices Performance

Winners & Losers

Momentum Screener

Global Markets

Commodities

Bond Yields & Currency

FII / DII Flows

Thematic Indices

Change in OI for the day

Top Stories in India

Top Stories Globally

Management Chatter

Corporate Actions & Events

Corporate Actions

Earnings Calendar

Nifty ends the week at highs above 24,350 on easing geopolitical tensions & strong global cues

Markets Today

Sectoral Indices Performance

Winners & Losers

Momentum Screener

Global Markets

Commodities

FII / DII Flows

Change in OI for the day

Thematic Indices

Top Stories in India

Top Stories Globally

Management Chatter

Corporate Actions & Events

Corporate Actions

Earnings Calendar

Nifty closes below 24,200 as weakness in banking stocks weigh

Markets Today

Sector Performance

Winners & Losers

Global Markets

Commodities

FII / DII Flows

Change in OI for the day

Thematic Indices

Top Stories in India

Top Stories Globally

Management Chatter

What to Watch

Corporate Actions

Earnings Calendar

Nifty crosses 24,200 on renewed hopes of US-Iran peace talks

Market Overview

Change in OI for the day

What’s happening in India

What’s happening globally

Management chatter

🧑🏻‍💻Have you checked out The Chatter?

We’re now on WhatsApp!

Calendars

Bulls take the backseat as stalemate in peace talks brings uncertainty back

Market Overview

Change in OI for the day

What’s happening in India

What’s happening globally