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 69-point gap down at 23,742, reacting to global markets’ response to the US midterm election verdict. However, the index quickly recovered from its opening lows, surging towards 23,940 within the first 15 minutes as buying interest emerged. The recovery soon lost momentum, with Nifty oscillating between 23,900 and 23,940 through the opening hour before selling pressure intensified around 10:15 AM.
The index slipped sharply towards 23,820 by 10:40 AM and briefly recovered towards 23,875 before another round of selling dragged it below 23,800 around 11 AM. Weakness persisted through the rest of the morning, with Nifty gradually slipping towards 23,750 shortly after noon.
In the second half, buying interest returned at lower levels, helping Nifty recover towards 23,820 around 12:30 PM. The recovery gained momentum after 1 PM, with the index steadily climbing past 23,850 and reclaiming 23,900 around 1:40 PM. However, profit-booking at higher levels briefly dragged it back towards 23,870 around 2 PM before another round of buying pushed it above 23,900.
The index maintained its positive momentum through the final hour, gradually climbing towards 23,925 before a sharp move in the closing minutes lifted it further. Nifty eventually closed at 23,960.60, around 220 points above its opening level, extending its recent winning streak as strong domestic buying helped markets recover from early weakness despite uncertain global cues.
Fear & Greed Index
The Fear & Greed Index jumped from 38 to 53, moving from fear into the neutral zone for the first time in this recent recovery. Easing demand for downside protection and equities outperforming government bonds helped improve sentiment, although elevated volatility remains a concern.
Market Breadth
Market breadth improved sharply, with 1,847 advancing stocks against just 517 declining, nearly 3.6 gainers for every loser. The share of Nifty 500 stocks above their 50-day average jumped 8.7 percentage points to 37.4%, its second-largest single-day improvement in the past 65 sessions.
52 Week Highs & Lows
Valuation Check
Sectoral Indices Performance
Media surged 5.15%, leading the 14 sectors that ended in the green, while IT declined 1.50%. Media, IT and Oil & Gas remain the strongest relative performers over 20 and 60 sessions, while high-beta stocks significantly outperformed low-volatility stocks, signalling improving risk appetite.
Winners & Losers
Muthoot Finance surged 7.18%, while Inox Wind and Hitachi Energy India gained 6.87% and 6.67%, respectively. HEG Advanced Materials jumped 19.75% on 16× usual volume, while Fractal Analytics gained 14.04% and Gujarat Mineral Development rose 10.24% amid heavy trading activity.
Delivery Data
Global Markets
Commodities
Institutional Flows & Participant Positioning
The put-call ratio declined from 1.50 to 1.15, with call-side open interest falling less sharply than put-side OI. FIIs bought 16,778 index-futures contracts worth ₹2,619 crore, although only 13.6% of their outstanding positions remain long, compared with 77% for retail and HNIs.
Options imply a 23,605–24,257 range into the November 9 expiry, with the heaviest put OI at 23,000 and call OI at 25,000. Nifty’s 200-day moving average at 24,004 remains the immediate technical hurdle, just 0.2% above its closing level.
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
India’s services PMI climbed to 55.8 in October from 55.2 in September, marking its strongest expansion in four months. Growth was driven by improving domestic demand and new business orders, while input cost inflation eased to its lowest level in over six years. Dive deeper
BSE reported a 44.9% YoY increase in consolidated net profit to ₹809 crore in Q2 FY27, compared with ₹558 crore a year earlier. Revenue from operations rose 34.1% to ₹1,433 crore, reflecting strong growth in the exchange’s financial performance. Dive deeper
The Union Cabinet approved a ₹2,814 crore scheme to support domestic processing of critical minerals, targeting two lithium and two nickel processing plants. Running from FY27 to FY31, the scheme will provide a 30% capital subsidy on eligible investments, aiming to strengthen India’s domestic mineral processing capabilities. Dive deeper
The Union Cabinet approved a ₹14,500 crore viability gap funding scheme to support the development of grid-scale energy storage systems between FY27 and FY31. The initiative aims to facilitate 92 gigawatt-hours (GWh) of storage capacity, helping strengthen India’s electricity infrastructure and support renewable energy integration. Dive deeper
Unilever announced an additional €35 million investment to strengthen its research and development capabilities in India, transforming its Mumbai and Bengaluru centres into AI-led innovation hubs. The investment builds on more than €20 million spent over the past five years on advanced R&D, including packaging, manufacturing and AI-driven digital modelling. Dive deeper
Power Finance Corporation reported a 2% YoY decline in consolidated net profit to ₹7,682 crore, compared with ₹7,834 crore a year earlier. Total income rose marginally by 1.2% to ₹29,234 crore, while the company declared a second interim dividend of ₹4.10 per share for FY27. Dive deeper
Top Stories Globally
Iran has reportedly exempted vessels from India, China, Iraq and Qatar from shipping restrictions in the Strait of Hormuz, citing mutual economic and diplomatic interests. However, the exemptions do not signal a broader reopening of the strategic waterway, with restrictions remaining in place for other countries. Dive deeper
US stock index futures rallied more than 1% after Democrats secured control of both the Senate and House of Representatives in the midterm elections. Investors welcomed the prospect of divided government limiting major policy changes, although uncertainty remained over potential AI regulations and their impact on technology companies. Dive deeper
US data centre stocks declined in premarket trading, while clean-energy shares rallied after Democrats won control of both chambers of Congress in the midterm elections. Investors anticipated tighter oversight of the AI industry alongside potentially stronger policy support for renewable energy. Dive deeper
Danish drugmaker Novo Nordisk raised its 2026 financial guidance for the third time this year after stronger-than-expected quarterly sales of its Wegovy obesity pill. The company now expects adjusted sales and operating profit growth of between -2% and +2% at constant exchange rates, improving from its earlier forecast of a 0–6% decline. Dive deeper
Alphabet-owned Google expanded its voluntary employee buyout programme to several countries as it seeks to control costs amid heavy investments in artificial intelligence. The company confirmed it offered exit packages to select employees in Canada, France, Germany, Japan and Switzerland beginning in June. Dive deeper
Australian design platform Canva is reportedly laying off about 1,271 employees, 22% of its global workforce, as part of a major organisational restructuring. The move marks a substantial reduction in staffing at the design software company. 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.
Sundararaman Ramamurthy, MD & CEO of BSE on monthly contracts and non-expiry-week volumes:
"They were showing a much faster-growing trend two to three months ago, but the structural changes that were brought into the market and the uncertainties made people step back, and there was a lull. Now that those issues are behind us, our efforts will continue in strengthening the monthly market share and also the other-than-expiry-week share. We are very confident that we will be able to grow them further, with circumstances improving, global uncertainties appearing to settle down, and various other positive developments that we are seeing in the market." - 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 bring you the second episode of The Fortnightly Show, a 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 the latest US Federal Reserve decision, its impact on global markets and the rupee, and what could bring foreign investors back to India. We also explore the outlook for NBFCs amid rising crude prices, a weak monsoon, and regulatory changes.
Finally, we look at key levels for Nifty and Bank Nifty, the outlook for gold and silver, the rupee’s movement against the Chinese yuan, and the sectors and opportunities our guests are tracking over the coming 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!
vgf isn't integrator margin. hitachi energy skips the cells, bess margins aren't at target yet
Fifth straight gain and a recovery from the 23,742 gap down open is a decent sign of buyers stepping in. Would be nice to see breadth confirm it in the new format.