Nifty struggles for direction after peace-deal rally, ends above 23,850
Broader markets outperform
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’re building directly on our earlier episode on the 9: 20 straddle — and taking it further. This time, we’re focused on Sensex 0DTE options.
Does the edge from the 9:20 straddle on Nifty translate to Sensex? And more importantly, is there a smarter framework for 0DTE — one that goes beyond replicating a single structure on a new index? Why the math works differently for straddles versus strangles, and what the data actually says about concentrating versus diversifying your 0DTE trades.
We also discuss whether the edge in 0DTE is eroding — and where it might still exist for disciplined, systematic traders.
Markets Today
Nifty opened with a sharp 362-point gap up at 23,985, following the confirmation of a US-Iran peace deal set to be signed on Friday. The development triggered a sharp fall in crude oil prices, with Brent slipping close to the $83-per-barrel mark. After the strong opening, the index remained firm through the first hour, briefly testing the 24,000 level and marking the day’s high around 11 AM.
However, the early momentum faded as profit-booking emerged at higher levels. Nifty gradually drifted lower through the late morning session, slipping below 23,950 and moving toward the 23,900 zone by noon.
In the second half, the weakness persisted, with the index trading in a narrow downward range between 23,890 and 23,930 for most of the afternoon.
Selling pressure intensified in the final hour, dragging Nifty toward the 23,850 mark, eventually closing near the day’s lows at 23,853.90. The session was marked by a strong gap-up opening driven by easing geopolitical concerns, followed by steady profit-booking that erased part of the early gains.
Despite the positive global backdrop and lower oil prices, Nifty failed to sustain above 24,000, highlighting continued caution among market participants after the recent rally.
Sectoral Indices Performance
Realty led with a 3.96% surge, followed by Auto at 2.6% and Metal at 1.78%. Consumption climbed 1.73%. Nine of twelve sectors closed green. IT was flat, Media slipped 0.14%, and Pharma dropped 0.66%.
Winners & Losers
Commodities
Global Markets
Bond Yields & Currency
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 16th June:
The maximum Call Open Interest (OI) is observed at 24,000, followed by 23,900, indicating potential resistance at the 24,000 -24,100 levels.
The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,400, suggesting support at 23,600-23,500.
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
Top Stories in India
India’s merchandise exports rose to a record high of $45.2 billion in May, supported by strong shipments of petroleum and engineering goods and a recovery in exports to West Asia. Imports climbed to a seven-month high of $73.4 billion, largely driven by higher crude oil purchases, while officials expect export momentum to remain strong as the situation in West Asia stabilises. Dive deeper
India’s wholesale inflation accelerated to 9.68% in May from 8.3% in April, driven by higher fuel, food, and manufactured product prices. Elevated crude oil costs amid tensions in West Asia pushed inflation in crude petroleum and natural gas to 61.5%, making fuel and power the largest contributors to rising producer prices. Dive deeper
The Indian rupee strengthened 47 paise to close at 94.71 against the US dollar, supported by a sharp fall in crude oil prices after the US and Iran agreed to end the conflict and reopen the Strait of Hormuz. Gains in domestic equities and a weaker dollar further boosted sentiment, helping the rupee hit its strongest level in about five weeks. Dive deeper
Oil marketing companies' under-recoveries have narrowed significantly, with losses on petrol falling 83% to ₹3 per litre from ₹24 per litre on April 1, while diesel under-recoveries declined 75% to ₹27 per litre from ₹105 per litre. Dive deeper
Shares of Vedanta Group’s newly demerged entities had a mixed debut, with Vedanta Aluminium Metal and Vedanta Oil and Gas hitting their 5% lower circuits, while Vedanta Iron and Steel gained over 5%. Despite the weak listing performance of most entities, the combined value of Vedanta and its four demerged companies stood at around ₹896.5 per original share, significantly above the pre-demerger value of ₹773.6. Dive deeper
India’s gold imports fell sharply to $3.42 billion in May from $5.63 billion in April, a decline of $2.21 billion, following the government's increase in gold import duty from 6% to 15%. The higher duty helped curb import demand and reduce pressure on the current account, although gold imports remained higher than year-ago levels. Dive deeper
India posted a current account surplus of $4.7 billion in April 2026, a sharp improvement from a $4.8 billion deficit a year earlier, reflecting stronger external balances. However, higher foreign portfolio investor (FPI) outflows of $8.7 billion led to an overall balance of payments deficit despite the surplus on the current account. Dive deeper
Top Stories Globally
Brent crude oil fell more than 4% to around $83 per barrel, its lowest level in two months, after the US and Iran reached a peace agreement that is expected to reopen the Strait of Hormuz and restore oil flows from the Persian Gulf. Dive deeper
The US and Iran have reached an agreement to end the conflict and reopen the Strait of Hormuz, a key global energy shipping route. US President Donald Trump confirmed the deal and said the naval blockade of Iranian ports would be lifted, raising hopes of easing energy market disruptions and improving global economic sentiment. Dive deeper
Gold rose above $4,300 an ounce for a third straight session after the US and Iran reached a peace agreement to reopen the Strait of Hormuz. The deal triggered a sharp fall in oil prices and eased concerns over inflation and future interest rate hikes, while a weaker US dollar further supported demand for bullion. Dive deeper
Nvidia is seeking to raise funds through a high-grade bond offering for the first time in nearly five years, joining a broader wave of debt issuance by companies investing heavily in artificial intelligence. Dive deeper
Fox Corporation is acquiring Roku in a cash-and-stock deal valued at about $22 billion. The acquisition gives Fox direct access to Roku’s base of over 100 million streaming households, strengthening its digital distribution and targeted advertising capabilities as viewers increasingly shift from traditional television to streaming platforms. Dive deeper
Management Chatter
In this section, we highlight interesting comments from the management of major companies and policymakers in the Indian and Global Economies.
Corporate Actions & Events
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
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These new screenshots look better than earlier ones.