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.
We’re trying out a new format for the Aftermarket Report, with much more comprehensive coverage of the data that shapes the trading day. Beyond the headline indices, we’re now looking at market breadth, new highs and lows, sector and thematic performance, delivery data, F&O positioning, global markets, commodities, flows, and more.
The idea is to bring different datasets together in one place and help traders and investors get a clearer picture of what’s actually happening beneath the surface of the market.
This is still a work in progress, so we’d really love your feedback. Tell us what you found useful, what you didn’t, what felt unnecessary, and what else you’d like us to add. Your feedback will help us shape the Aftermarket Report from here.
Markets Today
Nifty opened flat with a small 23-point gap down at 23,195, following the Fed’s rate hike. U.S. equities fell overnight after the decision, though a strong rebound in futures provided some support, while crude oil softened marginally but remained comfortably above $100 per barrel.
The index saw sharp swings in the opening hour, initially moving towards 23,280 before slipping back towards 23,250. Buying then picked up, taking Nifty above 23,300, but the move quickly reversed, and the index fell sharply to an intraday low near 23,220 around 11 AM.
The decline was followed by a strong recovery through the remainder of the first half. Nifty reclaimed 23,300 before noon and extended the move to around 23,360 by 12:30 PM. However, the gains proved difficult to sustain.
The index gradually gave up ground after 1 PM, falling sharply towards 23,250 by 1:30 PM. Nifty recovered once again and remained choppy in the 23,275–23,305 zone for much of the final two hours. Nifty eventually settled at 23,270.60, around 75points above its opening level, after a highly volatile session.
Market Breadth
Breadth improved, with 1,750 stocks advancing against 869 declines. Still, only 25.3% of Nifty 500 stocks were above their 50-day average, while new lows continued to outnumber new highs.
52 Week Highs & Lows
Sectoral Indices Performance
Pharma and Healthcare led a largely positive sectoral session, while Private Banks lagged.
Winners & Losers
HDFC Life led F&O gainers while PB Fintech was the biggest loser; outside F&O, Tega Industries jumped 11.2%. Overall delivery participation remained below its recent median despite sharp stock-specific spikes.
Delivery Data
Global Markets
Nasdaq 100 led global markets, while Hang Seng lagged both for the day and over five sessions.
Commodities
FPI Flows & Participant Positioning
FIIs remained heavily short in index futures, with just a 12.3% long ratio, while retail positioning was strongly long. Over the last five sessions, FPIs sold ₹6,841 crore while DIIs bought ₹13,206 crore.
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
F&O Corner
Top Stories in India
The Tata Sons board has reportedly cleared the company’s listing and approved another five-year term for N Chandrasekaran as chairman, according to multiple media reports. The decision reportedly came after a three-hour board meeting, with Tata Trusts chairman Noel Tata said to have been outvoted on the listing proposal. Dive deeper
HCLTech launched HCLTech Pulse, a new business unit targeting mid-market enterprises with annual revenues of $500 million to $5 billion. The unit will help these companies scale AI, modernise technology infrastructure and consolidate services that are often spread across multiple niche technology providers. Dive deeper
India said it will take all necessary measures to protect its trade and economic interests and ensure energy security after the US Congress cleared legislation allowing President Donald Trump to impose tariffs of up to 100% on major buyers of Russian energy, including India and China. The bill has passed both the House and Senate and now awaits Trump’s signature. Dive deeper
Brookfield will invest up to $600 million in India’s ACME Cleantech Ventures, marking its entry into the region’s low-carbon fuels sector. The funding will help ACME develop green ammonia and green methanol projects in India and Oman, backed by supply agreements with customers including Yara International, IHI Corporation and Mitsubishi Gas Chemical. Dive deeper
EQT plans to invest $50 billion in India by 2030, including a significant investment in Gautam Adani’s data centre business. Around $30 billion will go toward data centres and another $5 billion toward renewable energy to power them. Globally, EQT managed €341 billion ($393 billion) in assets as of June 2026. Dive deeper
India’s rice production could fall by around 10 million tonnes this year to roughly 144 million tonnes, as below-normal rainfall during the crop’s maturation period weighs on yields. That would be a 6.5% decline from last year’s record 154 million tonnes, marking the first annual fall in a decade and the steepest drop since 2009/10. Dive deeper
Top Stories Globally
Oil prices extended their decline, with Brent falling towards $104 per barrel and WTI to $101, as reports of additional Saudi crude cargoes through Oman eased supply concerns. However, both benchmarks remained above $100 amid fears that the Middle East conflict could widen and disrupt supplies further. Dive deeper
Salesforce forecast revenue of $63 billion for FY2030, ahead of analysts’ estimate of $61.4 billion, signalling confidence that it can accelerate growth despite rising competition from AI tools. The outlook includes revenue from Informatica, which Salesforce acquired last November. Dive deeper
Anthropic launched Claude Docs, allowing users to create, edit, and collaborate on documents directly within Claude, putting it in more direct competition with productivity suites such as Microsoft Office. The feature, initially rolling out to Pro and Max subscribers, is part of Anthropic’s push to turn Claude from a chatbot into a broader workspace for everyday knowledge work. Dive deeper
The Bank of England kept interest rates unchanged at 3.75% in a 6–3 vote, with three members favouring a 25 bps hike. The MPC flagged higher energy prices from the prolonged Middle East conflict as an inflation risk, with UK inflation already rising to 3.1% in August and expected to increase further in the coming quarters. Dive deeper
The offshore yuan strengthened to around 6.70 per dollar as China stepped up efforts to expand the currency’s international use. The Shanghai Clearing House began clearing spot trades in the Singapore dollar, New Zealand dollar and Thai baht, with 12 banks clearing 996 million yuan ($148 million) on the first day, potentially paving the way for more currencies to trade directly against the yuan. 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.
US Federal Reserve chair Kevin Warsh after raising interest rates by 0.25% to 3.75%-4% :
"Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little.”
"So our predominant focus is on the price stability side of our mandate. Plain fact is that inflation is too high, and has been for too long. This summer's inflation readings do not tell me that underlying trends have meaningfully improved." - Link
Prime Minister Narendra Modi’s comments at the Semicon India 2026:
“The world is looking for new and trusted manufacturing destinations. India is steadily preparing itself to meet this need. India’s semiconductor ecosystem is expanding rapidly, opening new opportunities for innovation, investment and growth...India Semiconductor Mission 2.0 expanded outlay to $13.5 billion from $8 billion in the first phase.”
“Be it policies, regulatory framework...whatever is needed for you (manufacturers) to succeed, government is taking all steps and efforts to ensure that,” - 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 break down what market depth and order flow charts actually show you — and what they don’t.
Market depth is a book of intentions: resting orders that may never get executed. Order flow looks at trades that have already happened and tries to measure buying and selling pressure through metrics like delta and cumulative delta.
But where do these numbers come from? Especially in India, where exchanges don’t explicitly tag which side crossed the spread, some of what you see is observed, while some is inferred.
In this edition, we explain how these tools work, how the numbers are constructed, and what they can actually tell you about the market.
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!