Late relief rally lifts Nifty above 24,750
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 video series, we break down the SEBI framework around Research Analysts (RAs) and Investment Advisers (RIAs), clarify what is legal and what is not, and explain why unlicensed “tip calls” on social media, WhatsApp, or Telegram are a major red flag.
But legality is only the starting point. Even when advice comes from a SEBI-registered professional, blindly copying calls can still be risky. We discuss slippage, liquidity constraints, fee structures, cost realities, position sizing, capital allocation, and the gap between reported returns and real-world outcomes. If you’ve ever received a “sure-shot” trading call, this episode gives you a practical checklist to evaluate it — and shows how to use research without outsourcing your judgment.
Market Overview
Nifty opened with a 136-point gap-up at 24,616, tracking positive action in global markets overnight. However, the early optimism faded quickly as the index slipped in the opening minutes toward the 24,540–24,550 zone. Through the first half, Nifty remained largely range-bound, oscillating between 24,550 and 24,650 as markets struggled to build momentum despite the strong start.
By early afternoon, weakness crept in again with the index gradually drifting lower and touching intraday lows near the 24,530 range around 2:15 PM. However, a sharp recovery unfolded soon as the index surged quickly toward the 24,830–24,850 zone, before some profit-taking trimmed gains into the close.
Nifty eventually settled at 24,765.90, marking a volatile session characterised by a gap-up start, mid-day weakness, and a strong late-session rebound driven by short covering and late buying interest.
Looking ahead, markets are likely to remain sensitive to global geopolitical news and risk appetite, news flow around AI-led disruptions, and key domestic cues.
Broader Market Performance:
The broader market had a strong rebound session today. Of the 3,336 stocks that traded on the NSE, 2,210 advanced, 1,039 declined, and 87 remained unchanged.
Sectoral Performance:
Nifty Metal was the top gainer, rising 2.29%, while Nifty IT was the only sector to close in the red, declining 0.59%. Overall, 11 sectors closed in green and 1 sector ended in red.
Here’s the trend of FII-DII activity from the last 5 days:
Change in OI for the day
The following is the change in OI for Nifty contracts expiring on 10th March:
The maximum Call Open Interest (OI) is observed at 25,000, followed by 24,800, indicating potential resistance at the 24,900 -25,000 levels.
The maximum Put Open Interest (OI) is observed at 24,500, followed by 24,600, suggesting support at 24,500-24,400.
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
Tijori is an investment research platform that has constructed niche indices for various themes and sub-sectors. They help you understand the market performance of narrow slices of the market. You can also track the Promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard
What’s happening in India
The Indian rupee rebounded to around 91.5 per dollar after the RBI intervened in currency markets, stabilising the unit following a record low in the previous session. Dive deeper
India’s 10-year G-Sec yield fell to around 6.64%, hitting a more than one-month low as investors moved into safer government debt amid escalating geopolitical tensions. Dive deeper
GAIL said LNG supplies from Qatar via Petronet LNG have dropped to zero after a force majeure was triggered due to disruptions around the Strait of Hormuz amid the Iran conflict. Dive deeper
Force Motors shares were in focus after SEBI sought additional information regarding the company’s Q2 FY25 financial results, raising concerns over regulatory scrutiny. Dive deeper
Bharat Forge shares rose about 3% after preliminary North America Class 8 truck orders jumped 159% year-on-year to 47,200 units in February, signalling a sharp rebound in heavy-duty truck demand. Dive deeper
India’s automobile retail sales rose 25.6% year-on-year to 2.41 million units in February, marking a record monthly performance, according to FADA. Dive deeper
HUL shares were in focus after the company completed the sale of its 19.8% stake in Nutritionalab (parent of Wellbeing Nutrition) for ₹307 crore. Dive deeper
NSE International Exchange (NSE IX) has launched a “Global Access” platform that will allow Indian investors to buy and sell international stocks directly from GIFT City, starting with US-listed companies like Apple, Microsoft and Nvidia. Dive deeper
Bank of Baroda raised ₹10,000 crore through a 7-year green infrastructure bond issue, with strong demand from domestic institutional investors. Dive deeper
What’s happening globally
Oil prices jumped over 3% to near $78 per barrel as escalating Middle East tensions and disruptions in the Strait of Hormuz raised fears of supply constraints. Dive deeper
Gold climbed to around $5,160 per ounce as escalating Middle East tensions and continued strikes between Iran, the US and Israel boosted safe-haven demand. Dive deeper
Silver hovered around $83.5 per ounce as investors weighed safe-haven demand against a stronger dollar amid escalating US-Iran tensions. Dive deeper
The dollar index rose above 99 as escalating US-Iran tensions and the sinking of an Iranian warship by a US submarine boosted demand for the greenback. Dive deeper
Eurozone retail sales fell 0.1% in January, missing expectations as weaker fuel and non-food sales offset gains in food and beverages. Dive deeper
France’s industrial production rose 0.5% in January, rebounding from a decline in December and matching market expectations. Dive deeper
China’s 10-year government bond yield rose to around 1.79% as investors assessed the country’s 2026 GDP growth target of 4.5–5%, its lowest since 1991. Dive deeper
Japan’s 10-year bond yield rose to around 2.15% following strong demand at a 30-year government bond auction. Dive deeper
Nvidia CEO Jensen Huang said the company is unlikely to make a $100 billion investment in OpenAI as the AI firm prepares for a potential IPO later this year. Dive deeper
Management chatter
In this section, we highlight interesting comments made by the management of major companies and policymakers from the Indian and Global Economies.
Amitabh Kant, CEO of NITI Aayog, on impact of rise in oil prices and energy security:
“Every $10 per barrel rise in crude prices can add $13–14B to India's annual import bill, widen the current account deficit and pressure the rupee. Geopolitical shocks will keep testing our energy security”
“India's next step isn't just adding clean capacity but it's delivering reliable clean power at home: high-PLF solar-wind hybrids, electric vehicle momentum, modern grids, large-scale batteries & pumped hydro storage, and firm low-carbon baseload like nuclear. We need it all.” - Link
Geoff Dennis, Independent Emerging Markets Commentator, on oil and tech stocks:
“Oil is driving everything in markets at the moment.”
“It is still too early to call a peak in oil prices.”
“Emerging-market tech stocks are showing early signs of stabilisation.” - Link
🧑🏻💻Have you checked out The Chatter?
Every week, we listen to the big Indian earnings calls—Reliance, HDFC Bank, and even smaller logistics firms—and copy the full transcripts. We then remove the fluff and keep only the sentences that could move a share price: a surprise price hike, a cut-back on factory spending, a warning about weak monsoon sales, or a hint from management on RBI liquidity. We add a quick, one-line explainer and a timestamp so you can trace the quote back to the call. The whole thing lands in your inbox as one sharp page of facts you can read in three minutes—no 40-page decks, no jargon, just the hard stuff that matters for your trades and your macro view.
Go check out The Chatter here.
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Calendars
In the coming days, we have the following significant events and corporate actions:
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!