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 strong 141-point gap-up at 23,582, extending its recent positive momentum as oil prices declined further overnight and strong corporate earnings continued to support market sentiment. The index initially witnessed some volatility before gaining momentum, climbing steadily towards 23,620 within the first 30 minutes.
Buying interest continued through the morning, pushing Nifty towards 23,660 around 10:45 AM. However, the rally lost some steam as profit-booking emerged at higher levels, dragging the index back towards 23,640 by 11 AM. The index remained largely range-bound between 23,640 and 23,670 through the rest of the morning before briefly climbing towards 23,700 around noon.
In the second half, selling pressure emerged as Nifty slipped towards 23,650 shortly after 12:15 PM before staging a recovery towards 23,700 and towards 23,740 by 1:45 PM.
The index then witnessed some profit-booking, slipping towards 23,680 around 2:30 PM before recovering steadily through the final hour till 22,730. Nifty eventually closed at 23,810.85 after a strong closing auction, around 230 points above its opening level, as easing oil prices and strong earnings momentum helped sustain the recent market recovery.
Fear & Greed Index
The Fear & Greed Index jumped from 32 to 40, indicating improving sentiment, although markets remain in the fear zone. Stronger foreign positioning and equities outperforming government bonds helped lift sentiment, while elevated volatility and weak underlying trends remain concerns.
Market Breadth
Market breadth remained positive but relatively narrow, with 1,328 advancing stocks against 1,042 declining. The average Nifty 500 stock gained just 0.68% against the index’s 1.25% rise, highlighting heavyweight-led gains, while the share of stocks above their 50-day average improved to 28.7%.
52 Week Highs & Lows
Valuation Check
Sectoral Indices Performance
FMCG surged 3.65%, leading the 13 sectors that ended in the green, while PSU Banks declined 1.27%. IT, Oil & Gas and Media remain the strongest relative performers over 20 and 60 sessions, while six sectors now trade above their 200-day moving averages.
Winners & Losers
Marico surged 10% to a fresh 52-week high, while MCX gained 7.42% and Britannia rose 6.36%. Trident jumped 7.11% on 80× usual volume, while KEC International plunged 9.36% amid heavy trading activity.
Delivery Data
Global Markets
Commodities
Institutional Flows & Participant Positioning
Put writing strengthened, pushing the put-call ratio from 1.40 to 1.50, while implied volatility increased to 15.3%. FIIs bought 30,442 index-futures contracts worth ₹4,711 crore, although only 12.3% of their outstanding positions remain long, compared with 77% for retail and HNIs.
Options imply a 23,350–24,095 range into the November 9 expiry, with the heaviest put OI at 23,000 and call OI at 24,000. Nifty's 200-day moving average at 24,013 remains the next major technical 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
State Bank of India reported a 14.3% YoY rise in standalone net profit to ₹23,038 crore, supported by a 14.7% increase in net interest income to ₹49,143 crore. Provisions declined 21.9% to ₹4,217 crore, while asset quality improved, with the net NPA ratio falling to 0.36% from 0.42% a year earlier. Dive deeper
Bajaj Finserv reported a 25.4% YoY increase in consolidated net profit to ₹5,952 crore, while revenue grew 16.7% to ₹43,416 crore. Interest income rose 21.6% to ₹23,824 crore, supporting the financial services group’s earnings growth during the quarter. Dive deeper
ITC reported a 20% YoY decline in standalone net profit to ₹4,137 crore, even as revenue surged 45% to ₹28,318 crore. Higher cigarette taxation weighed on profitability, while price hikes and strong growth across non-cigarette businesses supported revenue, with the FMCG segment recording its highest growth in 14 quarters. Dive deeper
NSE International Exchange (NSEIX) began operating under an extended 23.5-hour trading schedule, running from 3:15 AM IST to 2:45 AM IST the following day. The move aims to provide near-continuous market access across Asian, European and American trading sessions while strengthening GIFT City’s position as an international financial hub. Dive deeper
India’s gold demand fell 30% YoY to 162 tonnes in the September quarter, compared with 230 tonnes a year earlier, as elevated prices discouraged purchases. However, demand in value terms rose 3% to ₹2.42 lakh crore, while jewellery demand declined 20% in volume to 100 tonnes. Dive deeper
Amazon reported over 50% YoY growth in shopping volumes during its Great Indian Festival sale, recording more than 393 crore customer visits. Strong demand for premium products, attractive financing options and faster deliveries supported growth, with one in three orders delivered on the same day. Dive deeper
The National Stock Exchange reported a 17.4% sequential decline in consolidated net profit to ₹2,578 crore, while revenue fell 10.8% to ₹4,067 crore. EBITDA declined 13.3% to ₹3,079 crore, with margins narrowing to 75.7%, although average daily cash market trading volumes grew 24% YoY. Dive deeper
Top Stories Globally
Brent crude climbed above $106 per barrel following reports of a US strike on Iran’s Qeshm Island, raising concerns over renewed military escalation. The recovery followed a sharp decline of more than 7% on Monday, when signs of progress in US-Iran negotiations had eased fears of further supply disruptions. Dive deeper
Global equities came under pressure as renewed concerns over AI-related spending and valuations weighed on technology stocks. Investors also remained cautious as voting began in the US midterm elections, with the outcome potentially influencing corporate regulation and oversight of the AI industry. Dive deeper
Tesla reported a 10.3% YoY increase in sales of China-made electric vehicles to 67,829 units in October, accelerating from 5% growth in September. The increase marked its 12th consecutive month of annual growth, supported by deliveries of Model 3 and Model Y vehicles from its Shanghai factory to domestic and export markets. Dive deeper
Anthropic reported a 47% sequential rise in third-quarter revenue to $16.96 billion, slowing sharply from 144% growth in the previous quarter. Its net loss narrowed to $23.29 billion from $66.3 billion, while the company flagged computing capacity risks ahead of its planned IPO. Dive deeper
Oracle announced plans to raise $20 billion through bond and equity offerings to fund its expanding AI and cloud infrastructure investments. The company priced an offering of 86.2 million shares at $116 each, representing an 11.2% discount to Friday’s closing price, as technology companies increasingly turn to capital markets to finance AI spending. 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.
Finance Minister Nirmala Sitharaman on investor concerns :
“I realise the sensitivity and anxiety prevailing among retail investors, especially equity participants, while not being biased either way.”
Sustaining economic growth at 7% or above remained paramount; “for that, we need capital.” - 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!