Easing Middle East tensions propel Nifty back near 24,000 levels

Decent earnings help in pushing broader markets higher

Jul 27, 2026

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.

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

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Markets Today

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

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

Sectoral Indices Performance

Winners & Losers

Commodities

FII / DII Flows

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

Thematic Indices

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

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 28th July:

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

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

Source: Sensibull

Management Chatter

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

RBI Governor Sanjay Malhotra on whether MPC is placing a premium on growth versus inflation:

First of all, I would say that our primary mandate is inflation and price stability. Even in the past period, we have been guided by that and not so much by growth. We are required to keep growth in mind while we endeavour to meet our primary objective of price stability.
As you rightly mentioned, inflation was very benign, and so we could continue, therefore, to support growth by reducing the policy rate by 125 basis points. However, as I mentioned, it is price stability which is our primary mandate. Growth is certainly a consideration. Therefore, we will do whatever is required first, to maintain price stability and then, to see to what extent we can support growth. - Link

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

“Corporate banking NIM is lower than retail, so more corporate booking will have an impact on overall NIM. However, we see this in totality. Our vision is for the bank’s ROA to structurally reach 1.7% to 1.8% over time.” - Link