Nifty ends flat as consolidation continues in the 24,500–24,600 zone
Positive global cues fail to lift markets
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 go deep into what actually happens after the market closes, from the moment trading stops at 3:30 PM to the moment you open Kite the next morning and everything looks perfectly normal.
Most traders think their job ends when they hit buy or sell. The broker's job is just beginning.
After 3:30 PM, an entire overnight machinery kicks in, files from the exchange, back office systems processing every trade, shares physically moving between accounts, obligation reconciliation, P&L calculations, fund payouts in four separate batches, and regulators getting their reports, all of it running through the night while you sleep, so that by the time you log in tomorrow morning, your numbers are exactly right.
Markets Today
Nifty opened with a 54-point gap-up at 24,669, tracking positive global cues after the Dow Jones and S&P 500 closed at fresh record highs overnight. After a firm start, the index briefly tested the 24,630–24,640 zone before witnessing selling pressure in the opening hour, dragging it below 24,600.
A recovery followed mid-morning, with Nifty climbing back near 24,650 around 11 AM. However, the gains proved short-lived as persistent profit booking set in through the remainder of the first half, pulling the index steadily lower to around 24,570 by noon.
Weakness intensified in the second half, with Nifty slipping below 24,530 and touching an intraday low near 24,500 around 2:15 PM. The market remained under pressure till 2:45 PM before staging a 70-point recovery that eventually ended the trading session for F&O stocks at 3:15 PM at 24,570.
Nifty recovered further by 55 points in the CAS to close the day at 24,624.65, recovering all of its intraday losses & ending flat despite spending a large part of the session in negative territory.
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 11th August:
The maximum Call Open Interest (OI) is observed at 25,000, followed by 24,600, indicating potential resistance at the 24,700 -24,800 levels.
The maximum Put Open Interest (OI) is observed at 24,200, followed by 24,500, 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
Top Stories in India
The RBI kept the repo rate unchanged at 5.25% and maintained its ‘neutral’ policy stance, with the Monetary Policy Committee (MPC) unanimously voting to hold rates steady. The RBI also left the Standing Deposit Facility (SDF) rate unchanged at 5.0%, while retaining the Marginal Standing Facility (MSF) rate and the Bank Rate at 5.5%. Dive deeper
The RBI raised its FY27 real GDP growth forecast to 6.7% from 6.6%, while lowering its retail inflation projection to 5.0% from 5.1%, reflecting a slightly more optimistic outlook for economic growth and easing price pressures. Dive deeper
India’s services sector growth slowed in July, with the HSBC Services PMI easing to 53.3 from 57.4 in June, reflecting softer growth in both domestic and export demand. The slowdown follows the manufacturing PMI slipping to a nearly five-year low, although hiring rebounded, indicating businesses continue to add jobs despite weaker business activity. Dive deeper
Ola Electric Mobility shares surged over 7% after the company announced a partnership with Axis Energy to deploy 20 GWh of battery energy storage systems (BESS), strengthening its presence in India’s rapidly growing energy storage market. Dive deeper
Manipal Health Enterprises made a strong stock market debut, listing at ₹655, an 11% premium to its IPO price of ₹590 on the BSE. The stock extended gains during the session to close 13% higher at ₹667, reflecting strong investor demand. Dive deeper
Biocon reported a 348.4% YoY jump in Q1FY27 consolidated net profit to ₹141 crore, while revenue increased 10% YoY to ₹4,336 crore. EBITDA rose 10.6% to ₹847 crore, with the EBITDA margin remaining broadly stable at 19.5%. The strong performance was driven by the core Biopharma business, with biosimilars revenue rising 16% and generics revenue growing 21% year-on-year. Dive deeper
Top Stories Globally
Brent crude rose to around $80 per barrel, snapping a two-day decline after Yemen’s Houthi rebels claimed responsibility for an attack on a Saudi vessel in the Red Sea. However, prices remained well below recent highs as optimism grew over a potential agreement between the U.S., Iran, and Oman to reopen the Strait of Hormuz, with reports suggesting the parties are close to a 60-day interim deal. Dive deeper
The Walt Disney Company and TikTok announced a first-of-its-kind partnership allowing TikTok creators to use Disney characters and scenes in short-form videos. Under the agreement, a curated selection of TikTok videos will also be streamed on Disney+ through a new 'Verts' tab aimed at younger mobile audiences, marking the first time TikTok videos will be distributed on another platform. Dive deeper
SpaceX reported its first quarterly results as a public company, with Q2 revenue surging 92% YoY to $7.8 billion, driven by strong growth in its Starlink satellite internet and AI businesses. The company also announced a data centre chip partnership with Nvidia, with CEO Elon Musk saying SpaceX expects to receive a significant share of Nvidia’s GPUs next year. Dive deeper
U.S. private employers added 44,000 jobs in July, the smallest increase in six months, missing expectations of 70,000 and following a downwardly revised 95,000 gain in June. Hiring was led by education & health services, financial activities, and professional services, while trade, transportation & utilities and leisure & hospitality recorded job losses. Dive deeper
General Motors has renewed its joint venture with SAIC Motor for another 20 years, allowing the U.S. automaker to use China as an export hub amid intensifying competition from Chinese automakers. 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.
Sandeep Kalra, CEO and ED, Persistent Systems on sectors that can drive growth:
“Certain sections in healthcare, especially the provider segment, still remain a little lumpy. Outside that, we should see a fairly decent growth in segments like scientific instruments, medical devices, pharma, and payer. For BFSI, we have a good set of traction in banking across the US and Europe as we have deals that should rectify into bigger revenues there,” - Link
RBI governor Sanjay Malhotra on India’s macroeconomic fundamentals:
“Even this particular episode [West Asia conflict] of shock is being treated as an opportunity for us to further enhance our resilience. Our macroeconomic fundamental is very strong, growth is resilient, inflation, although headline is going up, the underlying inflation pressures are muted while we are aligning with core inflation,”
“The banks and the corporates have healthy balance sheets, government continues to focus on reforms, it continues on fiscal consolidation. Our policy frameworks are robust, institutions are strong, so this gives us the confidence that come what may, we will emerge stronger from each episode. There is nothing to worry,” - Link
Corporate Actions & Events
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
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