Nifty back above 25K amid churn across sectors
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.
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Market Overview
Nifty opened with a 28-point gap-down at 24,945 and remained in a narrow range between 24,965 and 24,990 in the first hour. Through the morning, the index remained under pressure and briefly dipped near 24,950 before stabilizing.
By mid-day, buying interest emerged and Nifty staged a steady recovery, climbing back above 25,000. In the second half, the index extended gains, hitting highs around 25,030 by 2 PM. Despite some volatility in the last hour, it managed to hold above the psychological 25,000 mark and eventually closed at 25,005.50, up slightly from the previous closing levels.
While market sentiment remains cautious in general, with concerns over 50% tariffs, persistent foreign investor outflows, and muted earnings weighing on confidence, some encouraging triggers, such as easing U.S.-India trade tensions, have helped markets recover from lows in the last week.
Broader Market Performance:
Broader markets had a mixed session today. Of the 3,150 stocks traded on the NSE, 1,539 advanced, 1,515 declined, and 96 remained unchanged.
Sectoral Performance
Nifty Media emerged as the top gainer with a 1.02% rise, followed by Energy and PSU Bank indices gaining 0.88% and 0.74% respectively. On the flip side, Nifty IT was the biggest loser, falling 0.50%. Out of the 12 sectoral indices, 8 ended in the green, 3 in the red, and 1 (Realty) remained flat.
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 16th September:
The maximum Call Open Interest (OI) is observed at 25,000 & 25,500, suggesting strong resistance at 25,100 - 25,200 levels.
The maximum Put Open Interest (OI) is observed at 25,000, followed closely by 24,900, suggesting strong support at 24,900 to 24,800 levels.
Note: OI is subject to multiple interpretations, but generally, an increase in Call OI indicates resistance in a falling market, and an increase in Put OI indicates support in a rising market.
Source: Sensibull
Tijori is an investment research platform, and they have 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
SEBI is set to release a consultation paper within a month on phasing out weekly F&O contracts, with plans to transition to monthly expiries through a defined glide path. The regulator may also explore same-day expiry across exchanges, according to CNBC-TV18. Dive deeper
Equity mutual fund inflows fell 22% month-on-month to ₹33,430 crore in August, down from ₹42,702 crore in July. Despite the decline, August marked the 54th straight month of positive inflows, AMFI data showed. Dive deeper
The Municipal Corporation of Delhi has integrated factory licence fees with the property tax portal, eliminating separate applications for industrial units in designated areas. Units will now pay 5% of annual property tax as the licence fee, with licences auto-generated upon payment. Dive deeper
Adani Power has received approval for an underground coal mining project in Nagpur, adding to the momentum from its hydroelectric venture in Bhutan and its first-ever stock split. Dive deeper
Adani Power has won a 1,600 MW supply order in Madhya Pradesh, including 800 MW under the greenshoe option, with an investment of ₹21,000 crore. This is its fifth major order in 12 months, taking total awarded capacity to 7,200 MW. Dive deeper
Sebi has cancelled the registration of 18 investment advisers for non-payment of mandatory renewal fees. The affected entities remain liable for past obligations and must address pending investor matters. Dive deeper
Reliance Industries has launched Reliance Intelligence, a wholly-owned subsidiary to drive its AI ambitions in India. The unit will focus on building large-scale data centres, global partnerships, AI services across sectors, and attracting top talent, aligning with Mukesh Ambani’s deep-tech vision. Dive deeper
Jupiter Wagons has secured a ₹113 crore order from Indian Railways to supply 9,000 LHB axles, strengthening its presence in rail infrastructure. Dive deeper
Coca-Cola will keep prices of its soft drink portfolio unchanged despite the GST hike to 40%, absorbing the differential to benefit consumers. The company also plans to cut prices of its packaged water brand Kinley. Dive deeper
Kalpataru Projects International and its subsidiaries have secured new orders worth ₹2,720 crore across power transmission, distribution, and buildings businesses. With this, the company’s total FY26 order intake has reached ₹12,620 crore. Dive deeper
What’s happening globally
Brent crude eased to $67.4 per barrel, snapping a three-day rise as higher US inventories signaled weaker demand. Prices stayed supported by geopolitical risks, including US warnings on Russia and heightened Middle East tensions. Dive deeper
Gold eased to $3,630 per ounce but stayed near record highs, supported by Fed rate cut expectations after weak US PPI data and labor signals. Dive deeper
US annual inflation rose to 2.9% in August, the highest since January, driven by stronger food, vehicle, and energy prices. Monthly CPI increased 0.4%, while core inflation held steady at 3.1%, with shelter costs providing the biggest upward push. Dive deeper
US initial jobless claims rose by 27,000 to 263,000 in early September, the highest since October 2021 and above forecasts. The four-week average climbed to 240,500, while continuing claims held at 1.93 million, signaling a weakening labor market. Dive deeper
US inflation rose to 2.9% in August, the highest since January, driven by higher food, vehicle, and energy costs. Monthly CPI increased 0.4%, while core inflation stayed at 3.1%, with shelter remaining the main upward pressure. Dive deeper
The ECB kept key rates unchanged, with the deposit facility at 2.00%, citing inflation near its 2% target and a stable outlook. Projections see inflation averaging 2.1% in 2025 and growth at 1.2%, with the bank reaffirming a cautious, data-driven policy approach. Dive deeper
The Central Bank of Turkey cut its benchmark rate by 250 bps to 40.5%, citing easing inflation alongside weak domestic demand. Policymakers said tight policy will continue until the 5% medium-term target is achieved. Dive deeper
Perplexity has secured $200 million in funding at a $20 billion valuation, according to The Information. The Nvidia-backed AI startup, led by Aravind Srinivas, recently made headlines with an unsolicited $34.5 billion bid for Google’s Chrome browser. Dive deeper
Boeing has reached a tentative five-year deal with striking defense workers in St. Louis, offering an average 45% wage increase, a $4,000 bonus, and extended contract terms. Union members will vote on the agreement on Friday, which aims to end a strike that began in August. Dive deeper
Alibaba will raise $3.2 billion through a zero-coupon convertible bond, allocating nearly 80% to expand cloud data centers and technology, and the rest to global e-commerce. The move aligns with its heavy AI investments and follows earlier bond issuances to boost international growth. Dive deeper
Centurion Accommodation REIT is targeting a $1.18 billion valuation in its Singapore IPO, aiming to raise $771.1 million through share sales. Backed by cornerstone investors, it could become one of the largest listings in Singapore this year. Dive deeper
Management chatter
In this section, we pick out interesting comments made by the management of major companies and policymakers of the Indian and Global Economy.
Ministry of Mines on GST rate cuts and their impact
"Reducing GST on marble, granite, and sand lime bricks from 12% to 5% will lower construction costs, particularly benefiting the housing industry and rural low-cost housing."
"Cutting GST on brass kerosene stoves to 5% will support rural and low-income families by making basic cooking necessities more affordable."
"MSMEs producing household utensils of brass, copper, and aluminium will benefit from higher demand and wider markets." - Link
Pradip Kumar Das, CMD, IREDA on perpetual bond issuance
"Through our second issue of perpetual bonds, we have raised ₹453 crore at 7.70% per annum, oversubscribed 2.69 times with bids worth ₹1,343 crore."
"These bonds will strengthen our Tier-I Capital and help scale up renewable energy financing."
"This step will accelerate India’s transition to a greener and more sustainable future." - 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.
📚 Also reading Mind Over Markets by Varsity?
It goes out thrice a week, covering markets, personal finance, or the odd question you didn’t know you had. The Varsity team writes across three sections: Second Order, Side Notes, and Tell Me Why, thoughtfully put together without trying to be too clever.
Go check out Mind Over Markets by Zerodha Varsity here.
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!
Reliance AI should have been named as Jio AI, in short as "JAI".