Flat close for markets ahead of the RBI policy
Nifty manages to close above 23,400 once again
Welcome to Aftermarket Report, a newsletter where we do a quick daily wrap-up of what happened in the markets, both in India and globally.
In our latest episode of In The Money by Zerodha, Sandeep built a live prediction system using four of today’s most capable AI models — Claude Sonnet, Claude Opus, GPT, and Gemini — and ran it across 31 live trading days on the Nifty 50. Every afternoon at 3:15, just before market close, each model received the same structured brief and made two predictions: direction (up or down) and gap size. The results? Directionally useful, but turning that edge into a tradable strategy is a completely different problem.
This episode walks through the full experiment — how the brief was designed (with AI helping design the exam it would take), what the accuracy numbers actually look like, what a hypothetical trade log reveals when you apply realistic entry and exit conditions, and why one minute of difference can change the picture significantly.
Markets Today
Nifty opened with a gap down of 123 points at 23,282, tracking weak global cues and subdued domestic sentiment. The index came under pressure in the opening minutes, slipping toward the 23,250–23,260 zone and marking the day’s low within the first few minutes.
However, buyers stepped in quickly, helping Nifty recover sharply from the lows. The index reclaimed the 23,400 mark by around 10 AM and remained volatile throughout the late-morning session, oscillating between 23,380 and 23,450.
In the second half, Nifty continued to trade in a broad range, with intermittent bouts of buying and selling keeping the index choppy. A brief dip around 1:15 PM dragged the index back toward the 23,330–23,350 zone, but the weakness was quickly bought into.
Momentum improved after 2 PM, with Nifty climbing steadily toward the 23,450 mark. The index held on to most of its gains in the final hour and eventually closed the day flat at 23,416.55.
The session was marked by a weak gap-down start, a swift recovery from early lows, and a volatile yet constructive second half, helping the Nifty end the day flat despite the negative opening.
Sectoral Indices Performance
Winners & Losers
Commodities
FII / DII Flows
Here’s the trend of FII-DII activity from the last 5 days:
Thematic Indices
Tijori’s niche indices, where today’s move sorts pockets of the market beyond standard sector baskets. You can also track promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard
Change in OI for the day
The following is the change in OI for Nifty contracts expiring on 9th June:
The maximum Call Open Interest (OI) is observed at 23,500, followed by 23,800 & 23,700, indicating potential resistance at the 23,700 -23,800 levels.
The maximum Put Open Interest (OI) is observed at 23,000, followed by 23,300, suggesting support at 23,200-23,100.
Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.
Source: Sensibull
Top Stories in India
The US became India’s largest LPG supplier in May, with shipments more than doubling to 666,000 tonnes and accounting for 55% of total imports, as India sought alternative sources amid disruptions in West Asia. Meanwhile, Iran resumed LPG exports to India after a seven-year gap, supplying 145,000 tonnes and emerging as the country’s second-largest supplier during the month. Dive deeper
Rajesh Exports shares hit the 5% lower circuit after the SEBI barred promoter and Executive Chairman Rajesh Mehta from dealing in the company's securities over alleged financial misrepresentation and fund diversion. SEBI's interim findings indicated that nearly ₹15.15 lakh crore of revenues linked to subsidiaries may have been misrepresented between FY21 and FY25, significantly inflating the company's reported operations. Dive deeper
Physics Wallah shares jumped over 15% after the company announced plans to revamp its student lending model. The edtech firm said it will partner with multiple regulated NBFCs to facilitate student financing, aiming to strengthen access to education loans while reducing lending-related risks. Dive deeper
TVS Supply Chain Solutions has entered the aerospace and defence supply chain segment through a 51:49 joint venture with ALA Group. The partnership is expected to generate cumulative revenue of over ₹2,000 crore by 2031, initially focusing on opportunities in India before expanding to select international markets. Dive deeper
L&T has signed an MoU with the Tamil Nadu government to invest ₹18,600 crore across three projects, including a data centre expansion in Kanchipuram, an electronics and electrical systems manufacturing unit in Coimbatore, and the expansion of its Kattupalli shipyard. The projects are expected to create over 8,000 jobs. Dive deeper
India’s tractor registrations rose 11.6% YoY to 81,776 units in May 2026, driven by strong rural cash flows, replacement demand, and dealer restocking. Dive deeper
Shares of Indian drone manufacturers rallied after reports suggested that India is preparing its largest-ever military drone procurement programme, potentially worth over $2 billion (₹20,000 crore). The proposed order is expected to benefit domestic drone makers as the government continues to push for greater indigenisation in defence procurement. Dive deeper
Top Stories Globally
WTI crude futures fell more than 3% to around $92 per barrel, snapping a three-day rally as optimism grew around a potential agreement with Iran to ease regional tensions. Markets were encouraged by reports that Israel and Lebanon had agreed to a conditional ceasefire, a key demand linked to broader US-Iran peace negotiations. Dive deeper
U.S. services sector activity accelerated in May, with the Services PMI rising to 54.5 from 53.6 in April, as businesses increased orders and rebuilt inventories amid concerns over supply disruptions and higher costs linked to the Middle East conflict. Dive deeper
The US International Development Finance Corporation will invest $1.5 billion (about ₹14,400 crore) through an energy infrastructure platform focused on India and Southeast Asia. The initiative aims to strengthen energy security among US allies while supporting LNG, hydrocarbon, equipment, and services exports across the Indo-Pacific region. Dive deeper
Bitcoin fell to a nearly four-month low of around $61,300 before recovering above $64,000, as investors shifted capital from cryptocurrencies to highly anticipated IPOs and private-market opportunities. Despite the rebound, Bitcoin remains down about 13% for the week, reflecting continued risk-off sentiment in the crypto market. Dive deeper
US-based employers announced 97,006 job cuts in May 2026, the highest level since January and the largest May total since 2020. Artificial intelligence was cited as the leading reason for layoffs for the third consecutive month, with the technology sector alone announcing 38,242 job cuts, its highest monthly total since August 2024. Dive deeper
Management Chatter
In this section, we highlight interesting comments from the management of major companies and policymakers in the Indian and Global Economies.
Anirudh Bhuwalka, Founder and MD of Blue Energy Motors, on rapid transition to heavy-duty electric vehicles over the next five years:
The next five years will witness one of the fastest transformations in the history of India's trucking industry.
"Crossing 100 million kilometres is a strong validation of where the future of freight mobility is headed. A few years ago, green-fuel trucking was still seen as an emerging idea. Today, fleet operators are actively looking at cleaner solutions that make sense not only from a sustainability perspective, but also operationally and commercially."
“The recent volatility in global energy markets has highlighted a reality that freight operators can no longer ignore. Businesses that remain entirely dependent on diesel are becoming increasingly exposed to fuel-price shocks and supply uncertainties." - Link
Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, on shifting to E85:
“If 1% of annual petrol vehicle sales in India during ethanol supply year 2026-27 shifts to E85, over four crore litres of ethanol demand would be generated, nearly ₹266 crore estimated payments would be made to distillers,”
“Around ₹195 crore in foreign exchange savings will be earned, reduction of approximately 0.28 lakh metric tonnes (LMT) of crude oil imports, net CO2 reduction of nearly 0.86 LMT and nearly ₹160 crore flowing directly to farmers.”
The E85 fuel would be “substantially cheaper than normal fuel [variant].” - Link
Corporate Actions & Events
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
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