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.
What data points and transformations do you want to see?
We’re trying out a new format for the Aftermarket Report, with much more comprehensive coverage of the data that shapes the trading day.
Beyond the headline indices, we’re now tracking market breadth, new highs and lows, sector and thematic performance, delivery data, F&O positioning, global markets, commodities, flows, and more. We’re also looking at ways to transform this raw data into insights that are actually useful for traders and investors.
The idea is simple: bring different datasets together in one place to give you a clearer picture of what’s happening beneath the surface of the market.
This is still a work in progress, and we’d love your feedback. What data points are we missing? What transformations, ratios, comparisons, or indicators would you find useful? Also tell us what worked, what didn’t, and what felt unnecessary.
Your feedback will help shape the Aftermarket Report from here.
Markets Today
Nifty opened with a 127-point gap up at 23,016, tracking strong global markets led by a rally in AI stocks, despite elevated oil prices. The index initially extended its gains, climbing above 23,100 within the first 20 minutes and touching an intraday high near 23,120 around 9:30 AM.
However, the early optimism quickly faded as selling pressure emerged, dragging Nifty below 23,000 by 10 AM and towards 22,940 shortly after. A brief recovery attempt pushed the index back towards 22,990 around 10:30 AM, but buying momentum remained weak. Selling resumed after 11 AM, with Nifty steadily slipping below 22,900 and towards 22,800 by noon.
The second half remained under pressure, with Nifty extending its decline towards 22,720 around 12:15 PM before a modest recovery pushed it back towards 22,770. However, the rebound failed to sustain, and the index continued to drift lower through the afternoon, slipping below 22,700 around 1:45 PM. Selling pressure persisted, pushing Nifty to an intraday low near 22,650 around 2:45 PM.
Despite a few minor recovery attempts, the index remained largely range-bound between 22,660 and 22,700 through much of the final hour. A sharp recovery in the closing minutes helped Nifty reclaim 22,800, eventually closing at 22,811.35, around 200 points below its opening level, as persistent selling pressure erased the strong opening gains despite positive global cues.
Fear & Greed Index
The Fear & Greed Index fell from 18 to 13, remaining in extreme fear. Weak market trends, rising volatility and defensive stocks outperforming high-beta stocks continue to reflect deteriorating sentiment.
Market Breadth
Market breadth was sharply negative, with 2,036 declining stocks against just 291 advancing, or seven losers for every gainer. Only 13.7% of Nifty 500 stocks remain above their 50-day average, while 51 stocks hit fresh 52-week lows against just two new highs.
52 Week Highs & Lows
Valuation Check
Sectoral Indices Performance
IT surged 2.88%, emerging as the only sector in the green, while Chemicals fell 2.64%. IT and Media remain the strongest sectors over 20 and 60 sessions and are the only two sectors trading above all four key moving averages.
Winners & Losers
India Cements surged 12.04% on 102× usual volume, while L&T Technology Services jumped 10.66% on 118× volume. Tech Mahindra hit a fresh 52-week high, while ABB India led F&O losers with a 5.94% decline.
Delivery Data
Global Markets
Commodities
Institutional Flows & Participant Positioning
The put-call ratio fell from 0.86 to 0.78, with call positioning strengthening relative to puts, while implied volatility rose from 12.6% to 14.2%. FIIs remain heavily bearish with just 9.5% of index-futures positions long, compared with 84% for retail and HNIs.
Options imply a 22,411–23,070 range into October 27 expiry, with the heaviest put OI at 22,000 and call OI at 23,000. The 50-day moving average at 23,478 remains the next major trend hurdle.
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
F&O Corner
Top Stories in India
Jio Platforms’ ₹22,078 crore IPO was fully subscribed within 100 minutes of opening, receiving bids worth ₹22,354 crore. Institutional investors led the demand with 3.25x subscription, while retail participation remained subdued at 0.23x. Dive deeper
The rupee gained 46 paise (0.48%) to close at ₹94.45 against the US dollar, its strongest closing level since September 4. Optimism around a potential India-US trade deal and foreign inflows into Jio Platforms’ IPO supported the currency. Dive deeper
India’s benchmark 10-year government bond yield climbed to 7.44%, its highest level since March 2023, as Brent crude approached $110 per barrel amid renewed West Asia tensions. Yields have risen 40 basis points over the past month and 85 basis points since the beginning of 2026. Dive deeper
India’s infrastructure output grew 7.9% YoY in September, its fastest pace since November 2023, driven by strong growth in coal (10.7%), iron ore (18.4%) and petroleum refinery products (10.3%). However, crude oil, natural gas and fertiliser production continued to decline. Dive deeper
Eternal, the parent company of Zomato and Blinkit, reported a 92.3% YoY rise in consolidated net profit to ₹125 crore, while revenue jumped 77.6% to ₹24,138 crore. EBITDA rose 26.6% QoQ to ₹752 crore, with the company targeting 5,000 Blinkit stores by March 2028. Dive deeper
Adani Green Energy reported a 15.4% YoY increase in consolidated net profit to ₹673 crore, while revenue grew 41.6% to ₹4,258 crore. EBITDA jumped 45.9% to ₹3,797 crore, supported by a 33% rise in energy sales to 12,090 million units. Dive deeper
Vehicle registrations during Navratri declined 6.52% YoY to 11.23 lakh units, with passenger vehicles falling nearly 22% and two-wheelers declining 2.8%. However, FADA highlighted differences in the festive periods and remained cautiously optimistic about a demand recovery during Dhanteras and Diwali. Dive deeper
eMudhra shares plunged 20% after a security flaw was discovered in eight intermediate certificate authorities used in its global TLS business. The flaw potentially exposed weak cryptographic keys to reverse engineering, prompting concerns among major browser operators, including Google, Apple, Microsoft and Mozilla. Dive deeper
Netflix reported its largest-ever quarterly net subscriber additions in India during Q3, alongside its first transaction-based loyalty partnership with Flipkart. Viewing hours increased 24% YoY, while India revenue grew 18%, reflecting continued expansion in the streaming market. Dive deeper
Top Stories Globally
Crude oil prices climbed to around $100 per barrel, their highest since September 17, as renewed attacks on vessels in the Strait of Hormuz raised supply concerns. Despite escalating tensions and reports of a tanker striking a sea mine, oil shipments through the strait remain near prewar levels, with broader Middle Eastern exports increasing. Dive deeper
SpaceX shares jumped 10% in premarket trading after reporting a 161% YoY revenue surge to $14.6 billion and a quarterly profit of $4.4 billion, reversing last year’s loss. Elon Musk also confirmed that Tesla and SpaceX have formed board committees to explore a potential merger. Dive deeper
France’s 10-year government bond yield reached 5%, its highest level since 2002, amid growing investor concerns over the country’s fiscal health. Rising global energy prices and interest rate hikes have added pressure to government bond markets worldwide. Dive deeper
Netflix shares dropped 6% in premarket trading after the company lowered its full-year advertising forecast and issued a weaker-than-expected fourth-quarter profit outlook. The stock has already declined over 26% this year amid concerns about slowing growth, intensifying competition and pressure on its subscription model. Dive deeper
AI startup Anthropic reported an $80.7 billion net loss in the first half of 2026, largely driven by a $72 billion non-cash accounting charge related to convertible bonds. Ahead of its expected November IPO, investors are reportedly considering a valuation of around $1.5 trillion, amid growing scrutiny of AI infrastructure spending and profitability. 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.
President Donald Trump on finalizing a trade deal with India after more than a year of negotiations:
“They want to make a deal. We’re going to make a deal. Pretty close, yeah.”
It “could be a much different kind of deal.” - Link
The week ahead & Corporate Actions
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
In our latest episode of In The Money by Zerodha, we kick off The Fortnightly Show, a new series where market experts come together every two weeks to discuss markets, the economy, geopolitics, technicals, and more.
In this episode, host Sandeep Rao is joined by Amit Kumar Gupta and Nooresh Merani to discuss India’s evolving equity markets, the Nifty 50, the outlook for IT stocks, and the impact of interest rates and monsoons on consumption. We also explore the upcoming Jio Platforms IPO, foreign investor flows, and what drives global capital into and out of India. Finally, we look at the key events, index levels, and sectors to watch over the next two weeks.
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!