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.
Markets Today
Nifty opened with a small 37-point gap up at 23,911, despite a strong showing by global markets, as the weak trend in Indian equities continued. The index initially traded around 23,895-23,900 for 15-20 minutes, but recovered sharply thereafter, moving past 23,960 within the first hour.
The recovery gathered momentum through the morning, with Nifty steadily climbing towards 23,980 before briefly touching the 24,000 mark around 11:30 AM. However, the gains proved difficult to sustain, and the index quickly retreated towards 23,960 by noon.
In the second half, selling pressure continued, dragging Nifty towards the 23,930–23,940 zone by around 1 PM. The index remained choppy thereafter, with multiple recovery attempts towards 23,950-23,960 failing to sustain.
Nifty spent most of the final hour around 23,930-23,945, before a sharp fall during the closing auction session pushed it below 23,900. The index eventually closed at 23,897.70, near the day’s low and around 13 points below its opening level, giving up the entire intraday recovery despite briefly testing 24,000.
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 8th September:
The maximum Call Open Interest (OI) is observed at 24,000, followed by 24,100, indicating potential resistance at the 24,100- 24,200 levels.
The maximum Put Open Interest (OI) is observed at 23,900, followed by 23,800, 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
SEBI is set to revise the methodology for determining derivative settlement prices following the introduction of the Closing Auction Session (CAS), with changes expected within a week. The move follows feedback from market participants and other stakeholders on the new closing mechanism. Dive deeper
Shares of Polycab and KEI Industries came under pressure after UltraTech Cement launched its wires and cables brand Ultravolt, backed by a ₹1,800 crore investment. Brokerages warned that the Aditya Birla Group’s aggressive entry could intensify competition and trigger a de-rating of existing players. Dive deeper
The RBI absorbed over ₹6.02 lakh crore of surplus banking-system liquidity through two three-day VRRR auctions, as liquidity remained at record highs. Banks parked the funds with the RBI at a cut-off rate of 5.24%. Dive deeper
Volkswagen Group’s India unit is reportedly cutting around 12% of its workforce as part of an accelerated three-year restructuring plan aimed at reducing costs ahead of its next investment cycle in India. Dive deeper
Kenyan President William Ruto has ordered Tata Chemicals to exit its century-old soda ash mining operations in the country and is seeking new investors. Ruto criticised the company for exporting soda ash instead of processing it locally into glass and chemicals. Dive deeper
Tata Realty & Infrastructure appointed Gaurav Jain as its new MD & CEO, effective October 1. Jain brings over 23 years of real estate experience, having previously worked with Birla Estates, Godrej Properties, Mahindra Lifespace and Unitech. Dive deeper
Top Stories Globally
Brent crude traded around $95 per barrel but was up nearly 8% for the week, its strongest weekly gain since mid-July, as renewed U.S.-Iran strikes and Israeli threats heightened concerns over Middle East supply disruptions. Dive deeper
Global food prices rose to their highest since November 2022, with the FAO Food Price Index climbing to 133.3 in August from 130.8 in July. Adverse weather and disruptions from the Ukraine and Iran wars pushed grain prices to three-year highs and sugar to a one-year high. Dive deeper
Crusoe has reportedly signed a five-year cloud contract worth around $13 billion with trading firm Jane Street, under which it will provide advanced AI GPUs and infrastructure for AI training and inference. Dive deeper
U.S. diesel prices hit a record $5.85 per gallon, up from around $3.76 before the Iran war began in February. Prices have surged as Middle East production cuts and disruptions to tanker traffic through the Strait of Hormuz pushed crude and fuel costs higher. Dive deeper
Volkswagen plans to cut around 50,000 jobs globally, with roughly half of the reductions expected in Germany, according to Lower Saxony Premier Olaf Lies. He added that no agreement has been reached on plant closures, with efforts underway to retain production at German facilities. Dive deeper
Norway’s $2.3 trillion sovereign wealth fund has proposed cutting government bonds from 70% to 50% of its benchmark bond index, with U.S. Treasuries likely to see the biggest reduction. The move is aimed at diversifying its fixed-income portfolio and improving returns. Dive deeper
The average U.S. 30-year fixed mortgage rate rose to 6.71% from 6.66% last week, its highest since July 2025. Rates have climbed as higher energy prices and renewed Middle East tensions fuel inflation concerns. 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.
C. Ramachandra Rao, Joint MD & Company Secretary of Avanti Feeds, assesses the shrimp industry’s paradox:
“To conclude, India’s shrimp industry is currently in a paradoxical situation. The sector has never been so strong in terms of production and exports. However, the economics at different stages of shrimp value chain are becoming increasingly fragile, creating challenges for the long-term sustainability of the industry.
That said, I would like to share with you that state and central governments along with various stakeholders across the value chain are actively engaged in addressing these challenges and exploring long-term solutions for sustainable growth of the shrimp industry in the country.” - Link
Despite elevated prices, Gaurav Singh Kushwaha, CEO, BlueStone, isn’t seeing any structural weakening in gold’s appeal as an asset. If anything, conversations with customers suggest the opposite:
“I think what’s happening over the long term is that people’s belief in gold as a fundamental value—the fundamental asset value that gold carries—I think that belief has only strengthened. That shows up in our conversations as well. So I think people’s belief in gold is stronger.” - Link
Corporate Actions & Events
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 take a closer look at India's market-cap-based indexes — from the Nifty 50 and Nifty Next 50 to the Midcap 150, Smallcap 250 and Nifty 500.
We compare seven major indexes to see how they differ in composition, performance, risk, and diversification, and look at what the data tells us about investing across different parts of the market.
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