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.
Markets Today
Nifty opened with a 58-point gap down at 24,118, tracking mixed global cues following the Fed Chair’s Jackson Hole speech, while a fresh flare-up in Middle East tensions pushed oil prices over 4% higher. The index came under pressure immediately after the open, slipping to 24,020 within the first 20 minutes. After a brief recovery attempt towards 24,050, selling resumed and dragged Nifty steadily lower through the first half.
The index eventually slipped below 24,000 around 10:30 AM, marking the day’s low near 23,995, before beginning to recover. A sharp rebound around noon took Nifty back towards the 24,070–24,075 zone.
In the second half, Nifty largely consolidated between 24,050 and 24,075, with repeated attempts to move higher failing to generate sustained momentum. Weakness briefly returned after 2 PM, taking the index towards 24,020, but buyers stepped in again and helped it recover through the final hour.
Nifty moved above 24,050 and briefly crossed 24,100 before giving up some of those gains and coming back to 24,050. A final push during the closing auction session lifted the index to 24,080.40, helping it recover more than 80 points from the day’s low, although it still finished below its opening level.
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 1st September:
The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,300, indicating potential resistance at the 24,200- 24,300 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,100, suggesting support at 24,000-23,900.
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 GDP growth accelerated to 7.8% YoY in Q1FY27 from 6.9% a year ago, driven by 9.2% manufacturing growth and an 11.9% jump in investment demand. Agriculture grew 3.6%, construction 7.7%, and utilities 8.9%, while mining contracted 2.4%. Dive deeper
India’s fiscal deficit stood at ₹4.55 lakh crore during April–July, or 26.8% of the FY27 target, compared with ₹4.7 lakh crore in the same period last year. Dive deeper
HDFC Bank shares initially rose nearly 3% before reversing to close around 1.5% lower, after MD & CEO Sashidhar Jagdishan said he would not seek reappointment when his term ends on October 26. The bank said it will fast-track the selection of his successor. Dive deeper
Maruti Suzuki plans to invest ₹77,500 crore over five years through FY31 towards capacity expansion, new models and R&D. FY27 capex is set to jump 40% to ₹14,000 crore from around ₹10,000 crore last year. Dive deeper
India’s real estate services output surged 24.7% YoY in June, making it the fastest-growing services segment, followed by retail trade at 18% and wholesale trade at 15.1%. Eight of 19 services sub-sectors recorded double-digit growth, while air transport was the only segment to contract. Dive deeper
India’s August rainfall was 16% below normal, taking cumulative monsoon rainfall during June–August to 603.7 mm, 14% below the long-period average. Of the meteorological subdivisions, 17 recorded deficient rainfall, and 18 received normal rainfall, while Odisha was the only state with excess rainfall. Dive deeper
Milky Mist Dairy Food reported a nearly tenfold YoY jump in Q1 consolidated net profit to ₹64.7 crore from ₹6.5 crore, while revenue grew 43.6% to ₹973 crore. Earnings were supported by strong revenue growth and improved operating margins. Dive deeper
Top Stories Globally
Oil prices jumped more than 3% as U.S.-Iran hostilities escalated again, with U.S. forces striking Iran’s Larak Island and Tehran retaliating. Brent rose to around $91 per barrel and WTI to $86.3, as renewed tensions raised concerns over oil flows through the Strait of Hormuz. Dive deeper
Venezuela and the U.S. have agreed to a 25-year energy partnership targeting crude production of over 1.5 million barrels per day from 17 strategic oilfields. Interim President Delcy Rodriguez said the deal would bring capital and technology to revive the oil industry while Venezuela retains ownership of its natural resources. Dive deeper
China’s three largest state-owned airlines, Air China, China Eastern and China Southern, reported combined H1 net losses of around 8.2 billion yuan ($1.22 billion), marking their seventh consecutive year of first-half losses. Surging jet fuel prices hit earnings, while a weak summer travel season clouds the outlook. Dive deeper
Germany’s inflation rose to 2.9% in August from July, reaching its highest level since April, but remained below expectations of 3%. Energy inflation jumped to 10.5% from 8.3% amid higher crude prices, while services and food inflation eased. Dive deeper
European bond yields climbed to multi-year highs, with Germany’s 10-year Bund yield reaching 3.3% for the first time since 2011 and French yields hitting their highest since 2008. Higher oil prices and hawkish central-bank signals strengthened expectations of further rate hikes. 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.
Hisashi Takeuchi, MD & CEO of Maruti Suzuki India on E20 fuel compatibility:
"I would like to assure you that all of our current ongoing products are E20 compatible products. Actually, we have improved our compatibility with ethanol since the production year 2008. So after 2008, all of our products are E20 compatible." - Link
Sivaramakrishnan Ganapathi, VC and MD of Gokaldas Exports on Tariffs in Big markets like the US & Europe:
“Among the big markets—both Europe and the US—the US tariff is leveling off, which means we have a level playing field in terms of having the Section 301 tariff of 10% across the board in most countries. Our operations in Kenya, where it is 0%, actually bestow a favorable advantage on us. So on the tariff front as far as the US is concerned, it looks good for us for the moment, especially coming out of that 50% penal tariff that we encountered in the second, third, and fourth quarters of last year. So, it’s a good scenario on that front.” - Link
Corporate Actions & Events
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 look at what an average really is, the three kinds of mean — arithmetic, geometric, and harmonic — and why each is useful in a different context.
We also trace how averaging evolved from ancient mathematics to statistics and eventually into financial markets. Finally, we get into the modern indicators: SMA, EMA, volume-weighted and adaptive moving averages, VWAP, and anchored VWAP, and how moving averages are actually used to identify trends. We also look at when they fail — and what you can use instead.
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