Nifty steadies near 25,700 as broader markets lead
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 video series, we move from concepts into practical implementation by using real backtest data to build a position sizing framework that can actually survive real market conditions.
The episode closes by explaining why option buying requires separate backtests due to different payoff structures and decay dynamics. The core idea is simple: position sizing is about survival first, returns later.
Market Overview
Nifty opened with a 45-point gap-down at 25,638 and saw initial weakness, slipping to 25,570 within the first 10–15 minutes. However, it rebounded sharply in the opening hour, recovering quickly toward the 25,700–25,720 zone as buying emerged at lower levels. The index then extended gains through the late morning session, climbing steadily and reclaiming the 25,750–25,760 range by around 12:30 PM.
In the second half, Nifty turned choppy and largely range-bound, oscillating between 25,700 and 25,730 as profit-taking capped the upside. A brief bout of weakness post 2 PM dragged the index toward the 25,670–25,680 zone, but it recovered again into the close. Nifty eventually settled at 25,725.40, ending marginally higher and marking a volatile session dominated by intraday swings, an early recovery, and consolidation near the 25,700 zone.
Looking ahead, markets are likely to remain sensitive to global risk appetite and key domestic cues.
Broader Market Performance:
The broader market had a bullish session today. Of the 3,251 stocks that traded on the NSE, 1,930 advanced, 1,216 declined, and 105 remained unchanged.
Sectoral Performance:
Nifty PSU Bank was the top gainer today, rising 2.11%, while Nifty Metal was the top loser, down 1.06%. Overall, 10 sectors closed in green and 2 sectors ended in red.
Here’s the trend of FII-DII activity from the last 5 days:
Change in OI for the day
The following is the change in OI for Nifty contracts expiring on 24th February:
The maximum Call Open Interest (OI) is observed at 26,000, followed by 26,200 & 25,800, indicating potential resistance at the 25,900 -26,000 levels.
The maximum Put Open Interest (OI) is observed at 25,500, followed by 25,700, suggesting support at 25,600-25,500.
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
Tijori is an investment research platform that has constructed niche indices for various themes and sub-sectors. They help you understand the market performance of narrow slices of the market. You can also track the Promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard
What’s happening in India
The Indian rupee ended nearly flat against the US dollar as likely RBI intervention helped counter pressure from elevated corporate and interbank dollar demand, keeping the currency range-bound. Dive deeper
Infosys has partnered with Anthropic to integrate Claude AI into its Topaz platform to automate coding, testing and debugging processes. Dive deeper
Adani Group has committed $100 billion through 2035 to build integrated renewable-powered, AI-ready data centre infrastructure in India. Dive deeper
Maruti Suzuki has launched its first electric vehicle, the e Vitara SUV, in India along with a battery rental plan to lower upfront costs. Dive deeper
Delhivery shares rose over 4% after it partnered with RIDEV to deploy 150 electric vehicles across the North East, Bengaluru, and Hyderabad within three months. The move supports Delhivery’s push to decarbonize last-mile delivery and scale green logistics. Dive deeper
ITC shares rose over 2% after the FMCG major sharply increased cigarette prices across key categories to offset the impact of excise duty hikes on operating income. Dive deeper
Karnataka government notified a 1% welfare fee with transaction cap limits on aggregator platform transactions to fund social security for gig workers under the new Platform-Based Gig Workers Act, 2025. Dive deeper
Union IT Minister Ashwini Vaishnaw expects India to attract over $200 billion in AI and data infrastructure investments over the next two years, with $70 billion already committed and $90 billion announced. The Finance Minister's 21-year tax holiday for cloud service companies setting up data centers is expected to significantly accelerate these investments. Dive deeper
What’s happening globally
The US 10-year Treasury yield slipped toward 4%, its lowest since early December, as softer inflation data strengthened expectations of Fed rate cuts this year. Dive deeper
Brent crude slipped below $68 per barrel as investors awaited renewed US–Iran nuclear talks and monitored Russia–Ukraine negotiations. Dive deeper
Gold eased to around $4,920 per ounce amid thin holiday trading, extending recent losses. Dive deeper
Japan’s 10-year bond yield fell to around 2.12% after strong demand at a 5-year auction and easing fiscal concerns. Dive deeper
Japan’s Nikkei and Topix declined as losses in technology and defense stocks weighed on sentiment, with concerns over AI-related disruption pressuring growth names. Dive deeper
Alibaba launched Qwen 3.5, an AI model built to autonomously handle complex tasks with better performance and lower costs. The company claims it beats several leading US models on key benchmarks as it competes with ByteDance’s Doubao and DeepSeek in China. Dive deeper
Management chatter
In this section, we highlight interesting comments made by the management of major companies and policymakers from the Indian and Global Economies.
Abneesh Roy, Senior Vice President & Head of Research, Nuvama Institutional Equities on FMCG:
“The FMCG sector is showing clear signs of recovery with volume growth picking up and staples regaining momentum.”
“This recovery trend suggests improved market dynamics and increasing consumer demand, indicating a positive outlook for the sector’s performance by FY27.”
“We anticipate significant growth in the FMCG sector in FY27 driven by these improving fundamentals.” - Link
B Thiagarajan, MD of Bluestar on AC prices climbing by 10-15% due to surging commodity costs, a change in energy-efficiency labelling and elevated exchange rates:
"The industry operates with 8–10% EBIT margins, There is no room for manufacturers to absorb this at all, so it will have to be passed on to consumers." - Link
🧑🏻💻Have you checked out The Chatter?
Every week, we listen to the big Indian earnings calls—Reliance, HDFC Bank, and even smaller logistics firms—and copy the full transcripts. We then remove the fluff and keep only the sentences that could move a share price: a surprise price hike, a cut-back on factory spending, a warning about weak monsoon sales, or a hint from management on RBI liquidity. We add a quick, one-line explainer and a timestamp so you can trace the quote back to the call. The whole thing lands in your inbox as one sharp page of facts you can read in three minutes—no 40-page decks, no jargon, just the hard stuff that matters for your trades and your macro view.
Go check out The Chatter here.
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Calendars
In the coming days, we have the following significant events and corporate actions:
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!