Markets continue to gradually inch higher

Nifty comfortably closes above 24,400

Jul 06, 2026

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 trace where CAGR and XIRR actually came from — and the answer goes back further than you'd expect.

Most people never question them. I did — and it led me from a Babylonian clay tablet to a forgotten software company in Cambridge, Massachusetts.

CAGR — 4,000 years of compounding, from ancient livestock loans to your fund fact sheet.
XIRR — Newton's unpublished manuscript, a 17th-century priority dispute, and an Excel plugin built in 1993 by a company that disappeared without a trace.

Two metrics. Over a thousand years of mathematics. And a reason why your SIP returns can look completely different from your fund's CAGR.

Check out In The Money

Markets Today

Nifty opened with a small 37-point gap up at 24,307, carrying forward the positive momentum from last week. After a firm start, the index extended its gains through the first hour, steadily climbing toward the 24,400 mark with only brief bouts of pullbacks.

Buying momentum remained intact through the late morning session, helping Nifty cross 24,430 around noon. The index then traded in a narrow range near the day’s highs, oscillating largely between 24,430 and 24,450 till 1:30 PM.

In the second half, the index witnessed mild profit-booking after 1:30 PM, slipping toward the 24,380 mark. However, buyers stepped in once again around 3 PM, lifting Nifty back toward the day’s highs before a small pullback in the closing minutes.

Nifty eventually closed at 24,430.35. The session was marked by a steady uptrend for most of the day, with buyers remaining in control despite intermittent bouts of profit-booking, allowing the index to end comfortably above the 24,400 mark.

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 7th July:

The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,400, indicating potential resistance at the 24,500 -24,600 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,400 & 24,300, suggesting support at 24,300-24,200.

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

Management Chatter

In this section, we highlight interesting comments from management at major companies and from policymakers in the Indian and Global Economies.

Anand Mahindra, Chairman of M&M, says that the group and other corporates must stop waiting for global uncertainty to ease and instead accelerate investment and execution:

“Attack Mode is a strategy adopted in Formula E racing, where a racing driver makes a deliberate choice to accelerate at the right moment, in imperfect conditions,” he wrote.
“In ideal conditions, overtaking is difficult, because everyone is already operating at top speed. It is when conditions are rainy or hazy that calculated acceleration can propel you to victory. This is not reactive speed; it is strategic acceleration, backed by preparation and conviction.”
“Uncertainty is no longer the exception; it is the rule. Black swan events have become obsolete because the pond is full of black swans.” - Link

Karan Shah, Whole-Time Director of Precision Camshafts, acknowledged near-term pressure on margins from commodity inflation.

“All raw materials, including steel, aluminium, LPG, cutting tools and oils, have increased over the last two to three months due to the Iran war situation. While customers do compensate us, they don’t fully compensate us immediately, and there can be a time lag between incurring the cost and receiving compensation. So, there will be some margin impact, although we hope this remains a short-term situation.” - Link