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.
What data points and transformations do you want to see?
We’re trying out a new format for the Aftermarket Report, with much more comprehensive coverage of the data that shapes the trading day.
Beyond the headline indices, we’re now tracking market breadth, new highs and lows, sector and thematic performance, delivery data, F&O positioning, global markets, commodities, flows, and more. We’re also looking at ways to transform this raw data into insights that are actually useful for traders and investors.
The idea is simple: bring different datasets together in one place to give you a clearer picture of what’s happening beneath the surface of the market.
This is still a work in progress, and we’d love your feedback. What data points are we missing? What transformations, ratios, comparisons, or indicators would you find useful? Also tell us what worked, what didn’t, and what felt unnecessary.
Your feedback will help shape the Aftermarket Report from here.
Markets Today
Nifty opened with a 72-point gap down at 22,678, as markets continued to trade choppily amid a lack of fresh global triggers and persistently weak domestic sentiment. The index initially came under sharp selling pressure, slipping towards 22,550 within the opening minutes before staging a recovery towards 22,650 around 9:45 AM. However, the recovery failed to sustain, with selling pressure returning and dragging Nifty below 22,550 by 10 AM. Weakness intensified shortly after, pushing the index towards an intraday low near 22,500 around 10:20 AM.
Buying interest gradually emerged from the lows, helping Nifty recover towards 22,550 by 10:45 AM and reclaim 22,600 around 11 AM. The recovery continued through the rest of the morning, with the index climbing steadily to 22,650 by noon.
The second half began on a positive note, with Nifty extending its recovery above 22,700 around 12:45 PM before touching an intraday high near 22,775 around 1 PM. However, the rally quickly lost momentum as selling pressure emerged at higher levels, dragging the index back towards 22,680 by 1:20 PM. Buying interest returned shortly after, helping Nifty recover towards 22,730, but the index struggled to sustain gains above this level. The rest of the afternoon remained volatile, with Nifty oscillating between 22,675 and 22,735 as buying and selling pressure remained evenly matched.
Despite a few recovery attempts in the final hour, the index failed to regain its intraday highs and eventually closed at 22,698.85, around 21 points above its opening level but nearly 51 points below the previous close. The morning recovery helped limit the day’s losses, but the lack of strong positive triggers and continued weakness in domestic sentiment kept markets under pressure.
Fear & Greed Index
The Fear & Greed Index improved from 18 to 22, although sentiment remains in extreme fear. Defensive stocks continue to outperform high-beta stocks, while elevated volatility and weak underlying trends keep investors cautious.
Market Breadth
Market breadth remained balanced, with 1,209 advancing stocks against 1,132 declining. The share of Nifty 500 stocks above their 50-day average improved to 18.8%, although 24 stocks hit fresh 52-week lows against just five new highs, highlighting continued weakness beneath the surface.
52 Week Highs & Lows
Valuation Check
Sectoral Indices Performance
Auto gained 1.45%, leading the nine sectors that ended in the green, while Oil & Gas fell 2.27%. IT, Media and PSU Banks remain the strongest relative performers over 20 and 60 sessions, with IT, Media and Pharma trading above all four key moving averages.
Winners & Losers
Piramal Pharma surged 17.15% on 45× usual volume, while Syngene International jumped 12.19% on 42× volume. CarTrade Tech plunged 12.64%, while Shreeji Shipping saw a sharp delivery spike, with 58% of traded shares taken to delivery against its usual 38%.
Delivery Data
Global Markets
Commodities
Institutional Flows & Participant Positioning
Derivatives positioning remained largely unchanged, although FIIs sold 13,985 index-futures contracts worth ₹2,063 crore. Foreign investors hold just 11.7% of their index-futures positions long, compared with 82% for retail and HNIs, reflecting continued bearish institutional positioning.
Options imply a 22,351–23,064 range into the November 3 expiry, with the heaviest put OI at 21,500 and call OI at 24,000. The 50-day moving average at 23,305 remains the next major trend hurdle for Nifty.
Thematic Indices
Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard
F&O Corner
Top Stories in India
Jio Platforms shares surged 26.67% above their IPO price to close at ₹1,417.50 on their market debut, taking the company’s market capitalisation past ₹13 lakh crore. The strong listing helped Jio overtake Bharti Airtel as India’s most valuable telecom company and become the country’s second-largest listed firm by market value, behind Reliance Industries. Dive deeper
India’s industrial production growth slowed to 6.7% YoY in September from a revised 7.8% in August, marking its weakest pace in four months. The slowdown was broad-based across manufacturing, electricity and gas supply, and water-related activities, while mining output contracted further. Dive deeper
The RBI has reportedly proposed a ₹50 lakh sub-limit on certain overseas transactions under the Liberalised Remittance Scheme (LRS), which currently allows individuals to remit up to $250,000 annually. The move aims to curb dollar outflows and protect forex reserves, with business travel and pilgrimages potentially covered, while education and medical expenses are likely to remain exempt. Dive deeper
Carlsberg India filed its updated draft red herring prospectus with SEBI for its proposed IPO, following regulatory approval earlier this month. The offering will consist entirely of an offer for sale of 8.64 crore equity shares, with no fresh issue component. Dive deeper
Hindustan Unilever reported a 4% YoY rise in consolidated net profit attributable to shareholders to ₹2,790 crore, while net sales grew 14.5% to ₹18,226 crore, beating estimates. Underlying sales growth reached a 14-quarter high of 15%, supported by strong volume growth of 7% and sustained consumer demand. Dive deeper
TVS Motor reported a 52% YoY rise in standalone net profit to ₹1,377 crore, while revenue surged 44% to ₹17,103 crore, supported by strong sales and improved operating margins. Total two-wheeler and three-wheeler volumes climbed 27% to a record 19 lakh units during the quarter. Dive deeper
Vedanta reported a 151% YoY jump in consolidated net profit to ₹6,202 crore, while revenue grew 57% to ₹25,812 crore. EBITDA reached a record ₹9,938 crore, supported by favourable market conditions, regulatory factors and higher volumes, partially offset by rising costs. Dive deeper
The Union Cabinet approved a ₹10,000 crore Container Manufacturing Promotion Scheme to develop domestic manufacturing capacity and reduce India’s dependence on imported shipping containers. Running until FY40, the scheme will support new and existing manufacturers while strengthening supply-chain resilience amid volatile global freight costs. Dive deeper
Top Stories Globally
Brent crude climbed above $115 per barrel, recovering from two consecutive sessions of losses amid concerns over renewed military escalation between the US and Iran. Reports that President Donald Trump was considering strikes after the upcoming midterm elections, alongside additional US military deployments, supported oil prices. Dive deeper
Robinhood shares declined 8% in premarket trading after third-quarter profit missed Wall Street expectations amid subdued cryptocurrency trading activity. Crypto revenue plunged 55% to $120 million, reflecting weak investor sentiment, Bitcoin ETF outflows and uncertainty around US interest rates. Dive deeper
The US goods trade deficit widened to $134.9 billion in September, its highest since March 2025, exceeding expectations of $130 billion. Imports rose 2.4% to a record $344.15 billion, driven by capital and consumer goods, while exports increased 2.6% to $209.24 billion. Dive deeper
The Israeli shekel weakened more than 1% to 3.1 against the US dollar, its lowest level since April, as investors reacted to the country’s legislative election results. Partial results indicated that Prime Minister Benjamin Netanyahu’s bloc was projected to secure 56 seats, while challenger Gadi Eisenkot’s bloc was expected to win 48 seats in the 120-member Knesset. Dive deeper
Management Chatter
In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.
Cipla’s management is seeing rapid growth in its anti-obesity and diabetes portfolio following the launch of high-demand GLP-1 therapies in India:
“We are seeing very good adoption of GLP-1 as a therapy, particularly Tirzepatide as a molecule in which Cipla is participating. We are seeing month-on-month growth rates of somewhere between 5% and 10%. We expect that trajectory to continue. {? Yugrpic ?} has become the second-largest brand in the GLP rankings. We do not expect any saturation on this front. We expect steady growth in the months to come.” - Link
The week ahead & Corporate Actions
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
In our latest episode of In The Money by Zerodha, we introduce Good Question, a new series where we answer the questions you ask about trading and the markets.
From understanding market movements and reading charts to trading strategies, risk management, and trading psychology, we break down complex concepts and address common doubts in a simple, practical, and easy-to-understand way.
Whether you’re just starting out or have been trading and investing for years, Good Question aims to help you make better sense of the markets, one question at a time.
Because sometimes, asking the right question is the first step to becoming a better trader.
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