Intraday recovery continues to fade in the second half
Broader markets continue to drag; Nifty near 23,150
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 shares the eight books that actually changed how he looks at markets - not books that give you setups and entry points, but books that give us a way of seeing.
Most trading books promise a map. But a strategy is a response — to a specific market, a specific moment, a specific psychology. What transfers instead is a lens. Over years of reading, He arrived at eight books across three themes that genuinely shaped how he thinks about markets, risk, and the craft of getting better.
Markets Today
Nifty opened with an 111-point gap down at 23,104, tracking weak global cues. After a soft start, the index remained volatile in the opening hour, oscillating around the 23,100–23,150 zone before gradually gaining strength.
Buying interest picked up through the late morning session, helping Nifty reclaim the 23,200 mark by around 10:30 AM. The recovery gathered pace thereafter, with the index steadily moving higher and crossing 23,250 before noon, and with the momentum remaining strong, Nifty extended gains toward the 23,300–23,320 zone around 1 PM, marking the day’s high. However, the rally failed to sustain as profit-booking emerged at higher levels.
In the second half, the index gradually gave up its gains, drifting lower through the afternoon. Selling pressure intensified in the final hour, dragging Nifty toward the 23,140–23,150 zone before eventually closing the day at 23,161.60.
The session was marked by a sharp recovery from a weak opening, followed by steady profit-booking that erased most of the intraday gains.
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 16th June:
The maximum Call Open Interest (OI) is observed at 23,500, followed by 23,200, indicating potential resistance at the 23,300 -23,400 levels.
The maximum Put Open Interest (OI) is observed at 23,000, followed by 23,200, suggesting support at 23,000-22,900.
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 Indian rupee weakened to around 95.76 against the US dollar, nearly erasing gains from the RBI’s recent measures to attract foreign capital. The decline was driven by persistent dollar demand from oil companies, weaker Asian currencies, and routine mid-month outflows that kept pressure on the domestic currency. Dive deeper
Shipping and Waterways Minister Sarbananda Sonowal confirmed that all three Indian seafarers missing after a US military strike on the Palau-flagged tanker MT Settebello have been found dead. The US military said the vessel was targeted in a “precision” strike after allegedly failing to comply with instructions and transporting Iranian oil. Dive deeper
TCS has entered into a global strategic partnership with Anthropic to accelerate enterprise AI adoption. As part of the collaboration, TCS will create a dedicated AI business unit and provide access to Anthropic’s Claude models to 50,000 employees across functions, helping enhance internal operations and develop AI-driven solutions for clients. Dive deeper
Infosys has entered into a multi-year strategic partnership with IHH Healthcare to drive an enterprise-wide ERP transformation programme. The collaboration will standardise business processes across key markets, including Hong Kong, Malaysia, and Singapore, while integrating AI capabilities through Infosys Topaz to improve efficiency, scalability, cost optimisation, and regulatory compliance. Dive deeper
Sugar stocks were in focus after the government extended excise duty exemptions on petrol blended with higher levels of ethanol. The move is expected to support ethanol demand and improve revenue visibility for sugar companies, while also facilitating the rollout of fuel blends beyond the current E20 standard. Dive deeper
Oil India and Petroleum Technology Research Centre have signed a collaboration framework to jointly explore carbon capture, geothermal energy, and other clean-energy technologies. The partnership aims to strengthen India-Canada cooperation on energy transition and sustainability initiatives. Dive deeper
India is set to import urea at significantly lower prices, with recent bids for a 1.7 million tonne tender ranging between $444 and $605 per tonne, compared with $959 per tonne paid earlier during the West Asia crisis. The decline reflects easing global urea prices, helped by deferred purchases from importing nations, increased use of alternative fertilisers, and improved supply after China eased fertiliser export restrictions. Dive deeper
Asus plans to increase local production of laptops in India to 20–30% of its domestic demand in the current financial year, up from 10% currently. The company also intends to begin manufacturing gaming laptops in India, reflecting its broader push to expand local sourcing and production capabilities. Dive deeper
Top Stories Globally
Crude oil rebounded to $90.8 per barrel after declining earlier in the session, following comments from US President Donald Trump that the US would strike Iran hard tonight. Trump also said that the US would soon take control of Iran’s “oil infrastructure points,” including Kharg Island, expected “in the not too distant future.” Dive deeper
The European Central Bank raised its rate to 2.25% from 2.0%, marking its first interest rate hike in nearly three years. The move reflects growing concerns over inflationary pressures linked to the Iran conflict, with markets now anticipating another 25-basis-point increase in September. Dive deeper
U.S. producer prices rose more than expected in May, with the Producer Price Index (PPI) increasing 6.5% YoY, its fastest pace since November 2022. Higher energy costs linked to the Middle East conflict were the main driver, with goods prices rising 2.8% and accounting for nearly 80% of the increase, reinforcing concerns about persistent inflationary pressures. Dive deeper
SpaceX’s IPO has reportedly attracted demand for more than four times the shares on offer ahead of pricing. The company plans to raise about $75 billion by offering 555.6 million shares at $135 each, implying a valuation of roughly $1.8 trillion, making it one of the largest public offerings in history. Dive deeper
Islamic Revolutionary Guard Corps said the Strait of Hormuz has been declared closed to all vessels following fresh US strikes on Iran, according to reports. The warning raises concerns over potential disruptions to global energy supplies, as the Strait of Hormuz is one of the world's most critical oil and LNG shipping routes. 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.
Scott Wang, Vice-President, Asia Pacific of World Trade Centers Association on India signing FTAs:
One advantage India has is its geopolitical position. It gets along with major trading blocs — the United States, Europe and increasingly China as well. India has also concluded important agreements, including one with the EU, and it recently reached a trade framework agreement with the United States.
But FTAs come with a lot of technicalities — compliance requirements, standards, market-access rules and thresholds. There is a lot we can do, and are already doing, to help SMEs leverage these agreements. - Link
Corporate Actions & Events
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
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!