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 flat at 24,538 but came under immediate selling pressure, slipping towards 24,400 within the opening minutes, tracking the biggest rout in global stocks in 19 months, led by weakness in AI and technology stocks amid regulatory concerns. However, buying interest emerged quickly, helping the index recover sharply towards 24,660 by 9:50 AM. The recovery extended towards 24,700 around 10:30 AM before some profit booking dragged Nifty back towards 24,600 by 11 AM. The index remained largely range-bound between 24,600 and 24,650 through the rest of the morning, before recovering towards 24,700 around noon.
The second half began on a positive note, with Nifty briefly consolidating around 24,650–24,700 before buying momentum picked up after 1 PM. The index steadily climbed past 24,750 around 1:30 PM and extended its gains towards 24,820 by 2 PM. Despite a brief pullback towards 24,790, buying interest remained strong, pushing Nifty above 24,850 around 2:30 PM.
The rally gathered further momentum in the final hour, with the index crossing 24,900 and eventually reclaiming the crucial 25,000 mark. Nifty closed at 25,030.35, nearly 500 points above its opening level, marking a strong session as domestic markets shrugged off weak global cues and sustained their recent bullish momentum.
Fear & Greed Index
The Fear & Greed Index edged higher from 62 to 63, remaining in the greed zone as market momentum strengthened and foreign investors increased their bullish positioning. However, elevated volatility and defensive stocks outperforming high-beta stocks suggest underlying caution despite the rally.
Market Breadth
Market breadth remained weak despite the headline rally, with 1,576 declining stocks against just 782 advancing, nearly two losers for every gainer. The average Nifty 500 stock fell 0.41% even as the index gained 1%, highlighting heavyweight-led gains, while only 39.9% of NSE stocks trade above their 200-day moving averages.
52 Week Highs & Lows
Valuation Check
Sectoral Indices Performance
Private Banks surged 3.22%, leading the 14 sectors that ended in the green, while Media declined 1.52%. IT, Financial Services and Realty remain the strongest relative performers over 20 and 60 sessions, with 13 of 15 sectors now trading above their 200-day moving averages.
Winners & Losers
Sai Life Sciences surged 11.95% on 29× usual volume, while Tata Teleservices jumped 12.57% and Yes Bank gained 5.91%. On the downside, Thermax plunged 17.27% on 17× usual volume, while Astral declined 9.68% amid heavy trading activity.
Delivery Data
Global Markets
Commodities
Institutional Flows & Participant Positioning
Put writing strengthened, pushing the put-call ratio from 1.29 to 1.47, while implied volatility jumped sharply from 15.4% to 18.7%. FIIs bought 37,022 index-futures contracts worth ₹6,134 crore, lifting their long positioning to 24.6%, among their least bearish readings over the past year.
Options imply a 24,661–25,339 range into the November 9 expiry, with the heaviest put OI at 24,000 and call OI at 26,000. Nifty's 200-day moving average at 23,994 remains an important technical support level following the recent breakout.
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
The Indian rupee gained 52 paise to close at 93.89 against the US dollar, supported by a weaker dollar, falling crude oil prices and a rally in domestic equities. The currency touched an intraday high of 93.82, while easing concerns over import costs and a potential slowdown in AI spending also supported sentiment. Dive deeper
MakeMyTrip acquired a majority stake in Bengaluru-based Quick Ride for an undisclosed amount, marking its entry into the shared mobility and ride-pooling segment. Quick Ride operates an asset-light carpooling platform that connects commuters travelling on similar routes, primarily serving employees across corporate offices, IT parks and business campuses. Dive deeper
Real estate major DLF and Singapore-based Everstone Group signed a binding agreement to form a joint venture to invest in IREO Private Limited and its group companies in India. DLF plans to invest approximately ₹3,750 crore for a majority stake in the venture, expanding its exposure to the domestic real estate market. Dive deeper
Hindalco Industries reported a 58.8% YoY increase in consolidated net profit to ₹7,533 crore in Q2 FY27, while total income surged 38.8% to ₹92,651 crore. The record quarterly performance was supported by strong contributions from both its upstream aluminium operations and downstream businesses. Dive deeper
India’s vehicle retail sales declined 23% YoY to 31.72 lakh units in October, according to FADA, with passenger vehicles and two-wheelers recording double-digit declines. The drop was largely attributed to a high base last year, when both Navratri and Diwali fell in October, while this year’s Diwali-related purchases shifted to November. Dive deeper
Gujarat Energy, formerly Gujarat Gas, signed a 10-year agreement with Abu Dhabi National Oil Company (ADNOC) to procure up to 4 million tonnes of LNG starting in 2028. The contract, linked to the Henry Hub pricing benchmark, could provide up to 4 lakh tonnes annually, strengthening the company’s long-term gas sourcing portfolio. Dive deeper
Indian IT services company Coforge joined the SpaceX Super Intelligence Partner Network to help enterprises integrate Grok AI solutions into their operations. As a transformation partner, Coforge will develop industry-specific applications and deploy them within clients’ existing systems and workflows. Dive deeper
Siemens reported a 4.8% YoY increase in consolidated net profit to ₹504 crore, while revenue grew 17% to ₹5,734 crore. New orders surged 38% to ₹6,228 crore, supported by infrastructure and private-sector capital expenditure, although higher material costs due to commodity price and currency volatility weighed on profitability. Dive deeper
Top Stories Globally
US stocks plunged on Thursday as concerns over tighter AI regulations and slowing data centre expansion triggered a broad technology selloff, wiping approximately $3 trillion off the S&P 500’s market value. The Nasdaq fell 5.46%, its biggest single-day decline in 19 months, while the S&P 500 dropped 4.32% and the Dow Jones declined 3.45%. Dive deeper
Japan’s Nikkei 225 plunged 5.96% to 57,435 on Friday, taking its weekly losses beyond 9%, its worst performance since the pandemic-driven selloff in March 2020. Technology stocks led the decline amid concerns over stricter US AI regulations, with Kioxia falling 36.8% and SoftBank Group losing 20.8% during the week. Dive deeper
Japanese government bonds rallied as investors sought safer assets amid the global technology stock selloff. The benchmark 10-year bond yield fell as much as 9 basis points to 1.795%, its lowest level since June 30, reflecting increased demand for government debt as risk appetite weakened. Dive deeper
South Korea’s KOSPI index plunged more than 8% in early trading on Friday, triggering a circuit breaker as heavy selling in semiconductor and technology stocks rattled markets. The index briefly slipped below 5,000 for the first time in nine months before recovering some losses to close at 5,059.60, down approximately 6%. 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.
Dr. Prabindra Singh Negi, ONGC Management on negotiating new operating arrangements for its two Venezuelan projects:
“Under the earlier system, we did not have offtake rights. The crude oil sale rights were with the national oil company of Venezuela. That is why the dividend has become stuck.”
“Under the new arrangement, we will have offtake rights. We will operate the project, take off the production, and sell it. We will also discharge various fiscal-regime-related responsibilities to the Government of Venezuela, and the remainder will belong to us.” - Link
The week ahead & Corporate Actions
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
In our latest special episode of In The Money by Zerodha, we explore some interesting market statistics, historical patterns, and trading setups that you can consider around Diwali Muhurat Trading Day.
Using data from the last 11 Muhurat trading sessions, we look at how Nifty and GoldBees have behaved around this occasion and explore a few interesting trading opportunities.
We'll look at BTST setups in Nifty and GoldBees, analyse their intraday behaviour during Muhurat Trading, and backtest an intraday Nifty ATM call-selling strategy across the last seven years. Whether you're an overnight trader or an active intraday trader, there's something interesting for you here.
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!