Nifty ends another tentative week on a flat note
24,300 to 24,600 remains the range for now
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 explore a question every systematic trader eventually faces: your backtest gave you a beautiful equity curve — but was that curve luck, or edge?
Using Monte Carlo simulations and a real two-year backtest of a 0DTE 920 straddle strategy on Nifty, we show how the same trades can produce very different drawdowns and outcomes simply by changing their order.
The takeaway: your backtest is only one possible path. The real question is whether your strategy can survive the paths you didn’t see.
Markets Today
Nifty opened with a small 36-point gap down at 24,362, tracking mixed global cues and continued tentativeness in domestic markets. The index came under pressure immediately after the open, slipping towards 24,310 within the first 20 minutes, before recovering sharply towards 24,350-360 around 10 AM.
The rebound failed to sustain, however, and Nifty remained volatile through the rest of the first half, oscillating largely between 24,310 and 24,350 before gradually recovering towards noon. By the end of the first half, the index had climbed back towards the 24,345-24,350 zone.
In the second half, Nifty initially remained choppy before momentum picked up sharply after 1:30 PM, pushing the index above 24,380 and to an intraday high near 24,405 around 2 PM.
Some profit booking followed, pulling Nifty back towards 24,360, while another recovery attempt towards 24,380 also faded. The index eventually settled at 24,366, almost exactly where it opened, extending the recent phase of range-bound and directionless trading.
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 18th August:
The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,800, indicating potential resistance at the 24,600 -24,700 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 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
Top Stories in India
Wholesale price inflation eased to 9.78% in July due to cooling food and fuel costs, marking the first monthly drop under the new 2022-23 base year. This slight relief breaks an upward trend previously driven by global oil and supply disruptions stemming from the West Asia conflict. Dive deeper
Shares of Vedanta Aluminium, Hindalco and NALCO fell 2-6% after aluminium prices retreated from a seven-week high as supply concerns eased. Prices came under pressure after Norsk Hydro ramped up production at its Alunorte refinery in Brazil, following regulatory approval allowing the company to import natural gas directly, easing concerns over production disruptions at the world’s largest alumina refinery outside China. Dive deeper
India’s foreign exchange reserves jumped $14.14 billion to $707 billion in the week ended August 7, following a $10.51 billion increase in the previous week. The sharp build-up comes amid measures introduced by the RBI and the government to attract foreign currency flows, including the FCNR(B) scheme, which has reportedly attracted around $40 billion so far. Dive deeper
TCS and Rolls-Royce completed an industry-first fully simulated flight cycle of a modern aero gas turbine using 100% hydrogen, marking a key milestone in hydrogen-powered aviation. The demonstration covered take-off, cruise and landing, validating critical hydrogen combustion, fuel-system and engine-control technologies. Dive deeper
Ashok Leyland reported a 2.5% YoY increase in Q1FY27 standalone net profit to ₹609 crore, while revenue rose 10.4% to ₹9,634 crore. EBITDA remained flat at ₹970 crore, resulting in the EBITDA margin contracting to 10.1% from 11.1% a year ago. Dive deeper
Aurobindo Pharma said the USFDA issued a warning letter to Eugia Pharma Specialities’ Unit-I in Telangana, following an inspection that resulted in four observations and an Official Action Indicated (OAI) classification. The company said existing supplies to the U.S. market remain unaffected, while the facility contributes around 2% of overall group revenue. Dive deeper
Bharat Dynamics reported a more than sixfold YoY surge in Q1FY27 consolidated net profit to ₹119 crore, from ₹18.3 crore a year ago. Revenue from operations jumped around 131% YoY to ₹572 crore, compared with ₹248 crore in the corresponding quarter, reflecting a sharp improvement in the defence manufacturer’s operating performance. Dive deeper
Top Stories Globally
WTI crude oil rose above $81 per barrel, gaining nearly 5% for the week, as the U.S. stepped up economic pressure on Iran to reopen the Strait of Hormuz. Prices were also supported by the IEA warning of the widest global oil supply deficit in five years, while Iran and Oman have yet to reach an agreement on reopening the strategic waterway despite earlier optimism over a deal. Dive deeper
U.S. retail sales fell 0.6% MoM in July, sharply missing expectations for a 0.1% increase and reversing June’s 0.2% gain. It was the first decline since October 2025 and the steepest since May last year, driven by weaker spending at nonstore retailers, auto dealers, gasoline stations and electronics stores, signalling softer consumer demand. Dive deeper
The Euro Area recorded an €8.6 billion trade surplus in June, up from €4.8 billion a year ago and well ahead of expectations for a €2.2 billion deficit. Exports surged 14.4% YoY to €272.5 billion, while imports rose 13.1% to €264 billion, supported by stronger surpluses in chemicals, manufactured goods and food & beverages, which more than offset a wider energy deficit. Dive deeper
Reddit shares jumped more than 12% in premarket trading after S&P Dow Jones Indices announced the company would join the S&P 500, replacing AvalonBay Communities. The inclusion is expected to drive additional demand for Reddit shares from index funds and other passive investors tracking the benchmark. Dive deeper
TerraPower and SK Innovation signed a preliminary global agreement to collaborate on small modular reactor (SMR) projects, potentially allowing SK Innovation to participate in TerraPower’s projects in the U.S. and other markets. TerraPower, backed by Bill Gates, is developing its sodium-cooled Natrium reactor in Wyoming, which received a U.S. construction permit in March and is targeting commercial operations in 2031. Dive deeper
Pony.ai plans to deploy more than 2,000 robotaxis across Europe under an expanded partnership with Uber. The collaboration will expand from its existing commercial robotaxi service in Zagreb, Croatia, to four additional European cities, marking a significant scale-up of autonomous ride-hailing operations in the region. 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.
RBI Governor Sanjay Malhotra, on how AI can significantly lower the cost of credit delivery:
“First, AI changes the economics of credit delivery fundamentally. Traditional underwriting relies on financial history – precisely the data that is thin or absent for a new-to-credit borrower, a gig worker, or a small enterprise without formal books. AI models, trained on alternative data – cash flows, GST filings, utility payments, digital footprints – can extend the frontier of “bankable” India considerably further than manual underwriting ever could, at a fraction of the marginal cost per loan. At the same time, AI-enhanced credit risk models, liquidity forecasting, and scenario analysis allow banks – and, indeed, us, as the regulator – to see emerging stress earlier than lagging financial statements permit.” - Link
Suneeta Reddy, MD of Apollo Hospitals on the return of international medical tourism providing a high-margin boost to the business:
“We saw 24% revenue growth from international patients. Going forward, I expect this momentum to increase—especially with the opening of our hospital in Gurugram, where there is potential for international patients to contribute up to 30% of revenue. Additionally, the opening of the new airport in Navi Mumbai will boost international patient inflows. All in all, the outlook is strong, and we expect to sustain this momentum.” - Link
Corporate Actions & Events
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
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