Nifty shrugs off gap-down opening to finish above 24,200
IT stocks come to the rescue
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 go back to basics — but not the way most people mean it. What is swing trading, really? Where did the term come from? And why does nobody agree on a definition?
We trace the idea across a hundred years of market history and lay out seven distinct methods traders have used to identify a swing. There’s also something most guides skip: the toolkit changes depending on what you’re trading. Stocks let you compare. Commodities and indexes don’t. That distinction matters more than the method you pick.
Markets Today
Nifty opened with a 168-point gap down at 24,039, following a flare-up in tensions in the Iran–US conflict, which pushed oil prices sharply higher. After the weak start, the index briefly slipped toward the 24,000 mark before witnessing a steady recovery through the morning, mainly led by IT stocks. Nifty reclaimed the 24,100 level within the first hour and gradually climbed higher, ending the first half near 24,150.
Buying momentum strengthened in the second half, with the index breaking above 24,200 shortly after 12:30 PM and touching an intraday high near 24,260. Although there was a brief bout of profit booking around 1:30 PM till 24,170 levels, Nifty quickly recovered and remained firm through the remainder of the session. Despite some late selling from the day’s highs, the index closed at 24,211, recouping the entire gap-down loss and ending the day comfortably above the 24,200 mark.
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 24,500, followed by 24,300, indicating potential resistance at the 24,300 -24,400 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,100, suggesting support at 24,100-24,000.
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
Top Stories in India
India’s retail inflation, measured by the CPI, accelerated to 4.38% in June from 3.93% in May, crossing the RBI’s 4% medium-term target, as higher food prices pushed inflation higher. Food inflation rose to 5.32% from 4.78%, while rural inflation remained higher than urban, with CPI at 4.74% versus 3.92% and food inflation at 5.45% versus 5.09%, respectively. Dive deeper
India's merchandise trade deficit widened 59% year-on-year to $30.43 billion in June, as exports fell to $40.41 billion while imports stood at $70.84 billion. Compared with May, merchandise exports declined from $45.2 billion and imports eased from $73.41 billion, according to government data. Dive deeper
HCL Technologies reported a 20% year-on-year rise in Q1FY27 net profit to ₹4,624 crore, beating estimates, while revenue grew 14% to ₹34,579 crore. Operating margin improved to 16.9%, despite a 62 bps impact from restructuring costs, and the company retained its FY27 guidance of 1–4% constant currency revenue growth and an EBIT margin of 17.5–18.5%. Dive deeper
United Breweries has signed a long-term manufacturing agreement with Adie Broswon Breweries (ABB), expanding its brewing footprint in North India. The partnership will leverage ABB's 12-million-case brewery, which produced a record five million cases in FY26, to support large-scale manufacturing requirements for leading beverage companies. Dive deeper
LTM has partnered with Anthropic to bring its Claude family of AI models to enterprise clients. Under the partnership, LTM will integrate Claude, Claude Code and Claude Cowork into its BlueVerse AI platform to support software engineering, application modernisation and other enterprise workflows. Dive deeper
ICICI Prudential Asset Management Company reported a 25.5% year-on-year rise in Q1 net profit to ₹965 crore, driven by strong business growth. Total income increased 20.2% to ₹1,745 crore from ₹1,452 crore in the year-ago period. Dive deeper
Top Stories Globally
Crude oil surged more than 3% to around $74 per barrel after renewed U.S. strikes on Iran heightened fears of supply disruptions in the Middle East. Conflicting claims over the status of the Strait of Hormuz, fresh Iranian attacks on U.S. allies, and reported damage to an offshore drilling platform in Kuwait further raised concerns over regional energy security, even as diplomatic efforts to ease tensions continued. Dive deeper
SK Hynix shares plunged more than 15% in Seoul, marking their biggest single-day decline in nearly two decades, as investors locked in gains following the company's Nasdaq debut. Meanwhile, its U.S.-listed ADRs fell 9.2% in premarket trading after surging more than 12% on their debut on Friday. Dive deeper
Volkswagen may need to cut another 50,000 jobs to match the competitiveness of rivals, potentially taking total reductions to as many as 100,000 positions, CEO Oliver Blume told employees. The automaker is seeking to lower costs as profits come under pressure from tariffs, intense competition in China and inefficiencies across its German manufacturing network. Dive deeper
TSMC reported a 36% year-on-year rise in second-quarter revenue to T$1.27 trillion ($39.63 billion), driven by robust AI-led demand for advanced chips. June revenue surged nearly 68% to T$442.68 billion, while first-half 2026 revenue climbed almost 36% to T$2.40 trillion, supported by strong orders from major customers such as Nvidia. Dive deeper
Japan plans to increase allocations to alternative assets at the Government Pension Investment Fund, the world’s largest pension fund, as part of efforts to diversify its portfolio and reduce investment risk. The fund aims to gradually raise exposure to unlisted equities, real estate and other alternative assets toward its existing 5% allocation cap, up from 1.7% of holdings as of March. 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.
Venugopal Lambu, CEO and MD, LTM on AI-based growth and hiring strategy:
“We announced for the first time AI revenue of $150 million on a quarterly run rate basis, which translates to 12 percent of our revenue. We want to grow that fast.”
“We want to grow that faster across business AI, creative AI, and industry AI. These are three types of AI work we have classified as pure AI revenue. There is also the other piece of work that we call as enterprise AI, which we didn’t include in this $150 million.”
“Today if somebody asks me how many you are hiring, I would say give me as many AI engineers as you can; I will hire all of them. If there is a pool of engineers with AI-led software engineering capabilities, AI skills with domain context, AI with data orientation, AI with deployment capabilities, we will hire all of them,”
“It is about how do I get my supply constraint addressed to map to the demand… There is a lot of demand in all of these areas. I have significant open positions against all these categories.” - Link
Microsoft CEO Satya Nadella coined a new term, "The Reverse Information Paradox":
As enterprises continue using AI models over time, the information asymmetry becomes increasingly skewed. The seller learns more and more about the buyer through prompts, interactions, and usage, while the buyer learns very little about what the seller is learning in return.
“Models learn from exhaust, the prompts people write, the tools agents use, and especially the corrections people make when the model is wrong. Every correction is distilled into institutional know-how. It’s the kind of knowledge a competitor could never buy, and the kind that leaks almost imperceptibly: trace by trace, correction by correction, eval by eval,”
“In consuming intelligence, you are creating intelligence. And what you create should belong to you.” - Link
Corporate Actions & Events
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
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!
HCL Technologies reported a 20% year-on-year rise in Q1FY27 net profit to ₹4,624 crore, beating estimates, while revenue grew 14% to ₹34,579 crore ;
Instead of making this text heavy; Can we have a small section below earnings calendar?
For key companies which reported earnings, a yoy topline, bottomline, eps growth % table would be useful. You can use screener in tables for inspiration