Nifty ends marginally higher but closes off highs as US-Iran tensions linger

Broader markets outperform in a big way

Jul 09, 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XIRR — Newton’s unpublished manuscript, a 17th-century priority dispute, and an Excel plugin built in 1993 by a company that disappeared without a trace.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 47-point gap-up at 23,929, signaling a modest recovery after yesterday’s brutal fall. After the positive start, the index moved higher in the opening hour and traded in the 24,040–24,060 range through most of the morning. Despite some intraday volatility, Nifty remained largely range-bound, oscillating between 24,020 and 24,070 until early afternoon.

The second half, especially the final hour, saw profit booking creep in as the index gradually edged lower. Selling intensified sharply after 3 PM, dragging Nifty below the 24,000 mark in a matter of minutes. The index hit an intraday low near 23,925 before recovering in the final few minutes of trade.

Nifty eventually settled at 23,962.80, trimming some late losses but ending well below its intraday highs as volatility remained elevated.

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 14th July:

The maximum Call Open Interest (OI) is observed at 24,200, followed by 24,300, indicating potential resistance at the 24,200 -24,300 levels.
The maximum Put Open Interest (OI) is observed at 23,600, followed by 23,500, suggesting support at 23,700-23,600.

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.

Nilesh Shah, managing director at Kotak Mahindra AMC on oil prices & markets:

I wouldn't call it an overreaction. Whenever there are signs of a settlement, the markets rally. And when fears resurface about how the situation might unfold, markets correct. This back-and-forth is natural. We should expect markets to swing like this because a lot depends on President Trump's actions and statements. Resurfacing of tensions in West Asia is likely to keep markets nervous.
It's difficult to put a range on the market for now. For the time being, the crude oil market/prices will be the key driver of equities. - Link

Chief Economic Adviser Anantha Nageswaran says Global Capability Centres (GCCs) are now a major part of the Indian economy:

“Half of the world’s GCCs are hosted in India; now contribute close to 2% of GDP.”
These roles keep talent in India and give jobs better than the previous generation. “GCCs are cutting edge, not just low-cost support dressed up.”
“Part of the model that GCCs follow has been exposed by AI,” and that simple tasks can be easily replicated. However, India is not headed in that direction.
"AI doesn't build, govern itself; AI doesn't empty this centre; it can raise value. - Link