Flat monthly expiry as IT gains offset Energy & FMCG weakness
4th consecutive monthly close within the 23,800-24,000 range for Nifty
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 go through 12 documentaries on financial markets, grouped into 6 categories, and tell you why each one is worth your time and what we personally took away from them.
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.
Markets Today
Nifty opened with a small 25-point gap down at 23,971, brushing aside weak global cues led by a sell-off in chip stocks as cooling crude oil prices offered some support to sentiment. The index witnessed a volatile start, briefly slipping towards 23,970 before recovering to cross 24,030 and going back and forth within the first hour.
However, the early strength couldn’t be sustained, and Nifty oscillated in a broad range through the morning, with buyers and sellers trading control. By the end of the first half, the index had drifted back towards the 24,000–24,020 zone after failing to hold onto its intraday highs.
The second half was marked by heightened volatility and a clear loss of momentum. Selling pressure intensified after 1 PM, pulling Nifty below 23,980, although a couple of intraday rebounds prevented a deeper slide. The index briefly attempted to reclaim 24,000 around 2 PM, but fresh selling emerged once again. In the final hour, Nifty fell to an intraday low near 23,955 before staging recovery in the closing minutes with the index eventually settling at 23,985.35, ending marginally below the 24,000 mark as investors remained cautious despite easing oil prices.
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 4th August:
The maximum Call Open Interest (OI) is observed at 24,000, followed by 24,500, indicating potential resistance at the 24,200 -24,300 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 23,500, suggesting support at 23,800-23,700.
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
Top Stories in India
India’s industrial production grew 7.3% YoY in June, beating market expectations of 6% and marking its fastest growth in 23 months, led by strong performance in manufacturing, capital goods, and infrastructure. Manufacturing output rose 7.8%, while electricity and gas production increased 10.6%, reflecting resilient domestic demand and higher industrial activity. Dive deeper
Hindustan Unilever reported a 3% YoY decline in Q1FY27 consolidated net profit to ₹2,673 crore, while revenue from operations rose 10.1% to ₹17,341 crore. The company said the decline in profit was primarily due to a one-off tax credit recorded in the corresponding quarter last year. Dive deeper
Larsen & Toubro reported a 14% YoY increase in Q1FY27 net profit to ₹4,123 crore, while revenue from operations rose 7% to ₹67,942 crore, supported by strong domestic execution despite the impact of the Middle East conflict. The company also secured orders worth ₹1.08 lakh crore during the quarter, up 14% YoY. Dive deeper
India’s telecom subscriber base rose marginally to 134.8 crore in June, led by strong subscriber additions of from Bharti Airtel and Reliance Jio, according to TRAI. Bharti Airtel topped the charts with a net addition of 31.63 lakh subscribers, followed by Reliance Jio with 22.91 lakh new users, driven by growth in both mobile and fixed-line connections. Dive deeper
Suzlon Energy shares fell nearly 10% after the company reported a mixed Q1FY27 performance, with revenue rising 22.3% YoY to ₹3,830 crore on strong execution and record deliveries, while net profit declined 5.9% to ₹305 crore. EBITDA remained largely flat at ₹596 crore, leading to a sharp contraction in EBITDA margin to 15.6% from 19.1% a year ago. Dive deeper
TTK Prestige shares rose over 7% after the company reported a strong Q1FY27 performance, with consolidated net profit more than doubling to ₹60 crore from ₹27 crore a year ago, driven by robust demand for induction cooktops and premium cookware. Revenue from operations increased nearly 34% YoY to ₹814 crore. Dive deeper
Swiggy has appointed Nandita Sinha, former Myntra CEO as the CEO of Instamart, effective August 3, as the company strengthens its leadership team amid intensifying competition in the fast-growing quick commerce market. Dive deeper
Top Stories Globally
Brent crude fell for a third straight session to around $81 per barrel, its lowest level in more than a week, as optimism over potential U.S.-Iran diplomatic progress eased concerns about supply disruptions. Sentiment improved after Donald Trump said the U.S. was holding “good talks” with Iran and there was a “good chance” of reaching a resolution after pausing military strikes to allow negotiations to continue. Dive deeper
Global chip stocks came under pressure after China announced it had developed its own immersion deep ultraviolet (DUV) lithography machines, challenging the near-monopoly of ASML in advanced chipmaking equipment. The news triggered a broad selloff across semiconductor stocks, with ASML plunging over 7%, while weighing on major chipmakers such as Advanced Micro Devices and Nvidia. Dive deeper
South Korean shares suffered their worst session in about five months, with the KOSPI plunging 10.84% to 6,023.66 as a global semiconductor selloff hammered SK Hynix and Samsung Electronics. Investor sentiment was hit by concerns over intensifying competition from China. Dive deeper
The Dubai International Financial Centre (DIFC) reported a 30% increase in new company registrations in the 12 months ended June, underscoring Dubai's growing position as a global financial hub despite geopolitical tensions in the Gulf. Dive deeper
Johnson & Johnson has agreed to pay an estimated $5.5 billion to settle around 76,000 U.S. lawsuits alleging that its talc-based baby powder and other products caused ovarian cancer. The proposed settlement, which requires acceptance by 95% of eligible claimants, would resolve nearly all pending ovarian cancer claims and could bring one of the largest product liability disputes in U.S. corporate history to a close. Dive deeper
BYD has launched the Racco, an electric mini-car, in Japan as it looks to revive sales in the country’s passenger vehicle market. The entry-level model is priced at under 2 million yen (about $12,213) after taxes and government subsidies, a price point seen as crucial for attracting Japanese buyers. 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.
Priya Nair, CEO of HUL on mass v/s premium segments & Rural v/s urban demand:
Our mass segments are not lagging. At a total organization level, while you may find some differences at a segment or category level, we continue to see competitive growth in mass just as we see in premium. Of course, in India, you see higher growth rates in some premium sub-segments; that indeed is the shape of the market.
But I want to correct the notion that we are pushing only towards premium growth. We continue to be competitive, which is very important given our scale. We must be competitive at the mass end of the portfolio to maintain a large volumetric base while driving premiumization in line with the market trend.
In terms of rural versus urban growth, both have been robust and continue to be strong. In the last few quarters, we have seen a step-up in our rural growth, which has been a big driver for us. Overall demand continues to be stable both in rural and urban areas. - Link
Manoj Jain, Chairman & MD of BEL on International buyers showing strong interest in the company’s communication and radar systems:
“Almost all products we deliver to Indian customers have demand internationally. The main interest is in radios, software-defined radios, and D4 solutions. We are seeing leads for communication and weapon-locating radar (WLR) systems.” - Link
Corporate Actions & Events
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
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