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 an 83-point gap up at 22,315, led by IT stocks after TCS posted a decent earnings report, while easing global tensions helped arrest the recent rise in oil prices. The index built on its early gains, climbing steadily above 22,400 within the first half hour and crossing 22,450 by 10 AM. Buying momentum continued through the morning, pushing Nifty above 22,500 and briefly towards 22,525 around 11:15 AM. However, some profit booking followed, dragging the index back towards 22,450 by noon.
The second half saw a gradual recovery, with Nifty reclaiming 22,500 around 1 PM and maintaining a steady upward trend through the afternoon. Buying strengthened after 1:30 PM, pushing the index above 22,550 and towards an intraday high near 22,580 around 2:15 PM.
However, the momentum faded in the final hour, with Nifty giving up some gains and slipping back towards 22,520. The index eventually closed at 22,520.45, around 205 points above its opening level, marking a strong recovery session after the recent weakness and ending the week on a positive note.
Fear & Greed Index
The Fear & Greed Index improved from 9 to 14 but remained in extreme fear. Weak market trends, defensive stocks outperforming high-beta stocks and elevated volatility continue to weigh on sentiment.
Market Breadth
Breadth improved with 1,328 advancers versus 971 decliners, but trading activity remained subdued. Only 17.4% of Nifty 500 stocks are above their 50-day average, while new 52-week lows outnumbered highs 13 to 2.
52 Week Highs & Lows
Valuation Check
Sectoral Indices Performance
IT surged 3.02% to lead as 14 of 15 sectors advanced, while Oil & Gas slipped 0.09%. Media, IT and Private Banks remain the relative leaders over both 20 and 60 sessions, though no sector is above all four key moving averages.
Winners & Losers
Hexaware Technologies jumped 5.30% on 112× usual volume, while KEC International and Cyient gained sharply on heavy trading. Adani Ports recorded a major delivery spike, with 84% of traded shares going to delivery against its usual 52%.
Delivery Data
Global Markets
Commodities
Institutional Flows & Participant Positioning
Put writing strengthened, lifting the PCR from 0.73 to 1.14, while implied volatility fell from 13.5% to 10.8%. FIIs remain heavily bearish with just 9.6% of index-futures positions long, while retail and HNIs are 82% long; seven of the 12 largest stock-futures OI moves were long buildups.
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
Options imply a 22,358–22,767 range into October 13 expiry, with the heaviest put OI at 21,500 and call OI at 23,000. The 20-day moving average at 22,973 remains the first major trend hurdle.
Top Stories in India
Poonawalla Fincorp’s Q2 FY27 net profit jumped over fivefold YoY to ₹375 crore, while total income rose 70% to ₹2,625 crore. AUM stood at ₹74,008 crore, with net interest margins improving 16 bps QoQ to 9.26%. Dive deeper
Daily coal supplies to power plants rose around 36% from September lows, while the daily stock depletion rate more than halved from 0.243 MT in September to 0.116 MT in October. The Coal Ministry said the situation is stabilising, although stock rebuilding has yet to begin. Dive deeper
As per Bloomberg reports, Jio Platforms is planning to price its IPO at ₹1,065–₹1,119 per share, targeting a valuation of up to ₹10.3 lakh crore ($107 billion). The IPO could raise around ₹30,200 crore, potentially making it India’s largest-ever public offering. Subscription is expected to open on October 21, with listing scheduled for October 28. Dive deeper
The US suspended eight major technology companies, including Infosys, Wipro and Tata, from a federal labour certification programme used for employment-based green cards, as authorities tightened scrutiny of immigration and hiring practices. Dive deeper
Airtel Money debuted on the London Stock Exchange in its largest IPO in five years, with shares rising as much as 2.1% above the £1.96 offer price. The offering raised around £529 million, valuing the company at approximately £5.3 billion. Dive deeper
Top Stories Globally
Crude oil fell below $91 per barrel after gaining 3.6% in the previous session, as signs of renewed US-Iran diplomatic engagement eased supply concerns. Expectations of China resuming refined fuel exports also weighed on prices. Dive deeper
PepsiCo tapped Europe’s bond market to raise €1 billion ($1.12 billion) through three-year and nine-year bonds. The move came a day after the company lowered its earnings growth outlook amid rising costs and weakness in its North American businesses. Dive deeper
UNCTAD projected global economic growth to slow to 2.6% in 2026 from 2.9% in 2025, citing the energy shock from the Middle East conflict. Global trade is expected to grow 4% in real terms, following a record $35 trillion in 2025. Dive deeper
US and European telecom stocks fell sharply after SpaceX reportedly agreed to acquire an $8 billion spectrum portfolio, raising concerns about competition from satellite-based mobile services. T-Mobile, Verizon and AT&T dropped 5.5–7.4% in premarket trading. Dive deeper
Tesla’s China-made EV sales rose 5% YoY to 95,366 units in September, accelerating from 3.6% growth in August. The company recorded its 11th consecutive month of annual sales growth, supported by continued recovery in overseas demand. 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.
TCS says that Suspension of the U.S. green card programme will not impact workforce strategy:
“Our PERM applications were in single digits in the last two years and hence we do not expect the suspension of the program to impact our workforce strategy and customer engagements,”
“Our workforce strategy in the US is anchored in hiring local talent, supported by a robust campus recruitment model. We have built a significant local workforce across 31 offices and delivery centers throughout the country,” - 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 start with: What happens after a stock makes a new 52-week high? Is it a sign that the stock has already run too far, or could it actually tell us something about where the stock goes next?
We then look at the academic research behind the 52-week high effect, including the 2004 study by George and Hwang and more recent research on Indian stocks, before exploring the behavioural explanation for why the effect might exist.
Finally, we run our own backtest on the NIFTY 750, looking at stocks that make a new 52-week closing high, applying a 52-week cooldown between signals, and tracking what happens over different holding periods.
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!
On the data wish list: breadth conditioned on the move. Nifty closed about 205 points above the open, yet only 17.4% of Nifty 500 names sit above their 50-day average and new lows still beat highs 13 to 2. A rally carried by one sector after one earnings print reads differently from a broad one. A column showing how many of the 14 advancing sectors rose on above-average delivery would separate the two cheaply.