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 a 90-point gap-up at 25,076, tracking stable global cues and cooling oil prices. However, the index came under immediate selling pressure, slipping sharply towards 24,920 within the opening minutes. Buying interest emerged shortly after, helping Nifty recover towards 24,960, but the recovery failed to sustain.
The index remained volatile through the first hour, oscillating between 24,920 and 24,950 before selling pressure intensified around 10:30 AM, dragging it towards 24,840. A sharp recovery followed, pushing Nifty back above 25,000 around 11:30 AM and towards an intraday high near 25,060. However, the rally quickly lost momentum, with the index slipping back towards 24,900 by noon.
The second half began on a weak note, with Nifty initially recovering towards 24,940 before another round of selling dragged it to 24,870 around 1:20 PM. However, buying interest returned from lower levels, helping the index stage a steady recovery towards 24,950 by 2 PM.
The recovery gathered momentum shortly after, pushing Nifty back above the crucial 25,000 mark around 2:15 PM. The index remained largely range-bound between 24,980 and 25,020 through the final hour, before eventually closing at 25,044.65, around 30 points below its opening level. Despite the volatile session and repeated selling pressure at higher levels, Nifty managed to hold above 25,000.
Fear & Greed Index
The Fear & Greed Index climbed from 58 to 66, moving further into the greed zone as demand for downside protection eased and foreign investors maintained stronger bullish positioning. However, elevated volatility and defensive stocks outperforming high-beta stocks suggest some underlying caution.
Market Breadth
Market breadth remained weak, with 1,428 declining stocks against 934 advancing, even as benchmark indices ended higher. The equal-weighted Nifty 50 declined 0.10% against a 0.23% gain for the cap-weighted index, highlighting heavyweight-led gains, although 51.7% of Nifty 500 stocks now trade above their 50-day moving averages.
52 Week Highs & Lows
Valuation Check
Sectoral Indices Performance
PSU Banks surged 3.73%, leading the 12 sectors that ended in the green, while IT declined 1.22%. IT, Pharma and Financial Services remain the strongest relative performers over 20 and 60 sessions, with 13 of 15 sectors trading above their 200-day moving averages.
Winners & Losers
Data Patterns surged 8.67% on 9.4× usual volume, while IREDA gained 7.47% and Union Bank of India rose 5.60% to a fresh 52-week high. On the downside, Jubilant FoodWorks fell 4.99%, while RR Kabel declined 6.90% and Finolex Cables dropped 5.85%.
Delivery Data
Global Markets
Commodities
Institutional Flows & Participant Positioning
Call writing strengthened, pulling the put-call ratio down from 1.28 to 1.15, while implied volatility declined from 18.3% to 16.8%. FIIs bought 10,718 index-futures contracts worth ₹1,815 crore, lifting their long positioning to 26.8%, among their least bearish readings over the past year.
Options imply a 24,521–25,512 range into the November 17 expiry, with the heaviest put OI at 24,000 and call OI at 26,000. Nifty's 200-day moving average at 23,989 remains an important longer-term technical support level.
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
Top Stories in India
Foreign portfolio investors increased their holdings of government securities under the Fully Accessible Route (FAR) by nearly ₹8,000 crore in the first week of November, taking total investments to ₹3.65 lakh crore. The inflows coincided with the rupee strengthening from 94.90 to 93.74 against the dollar and the benchmark 10-year bond yield easing to 7.178%. Dive deeper
Hindustan Unilever (HUL) raised prices across several detergent and personal care products by 1.6–20% during October and November to offset rising raw material and packaging costs. Surf Excel and Rin detergent bars saw the steepest hikes of 20%, while some Surf Excel products recorded cumulative price increases of up to 19% following multiple revisions. Dive deeper
Tata Steel reported an 18% YoY increase in net profit attributable to shareholders to ₹3,660 crore, supported by improved steel realisations. Revenue grew 12% to ₹64,974 crore, while EBITDA rose 17% to ₹10,665 crore, with EBITDA per tonne increasing to ₹13,462 from ₹11,518 a year earlier. Dive deeper
Larsen & Toubro secured an order worth ₹1,000–2,500 crore from Noida Metro Rail Corporation for the Aqua Line Extension Project. The contract includes the design and construction of a 15.1-km elevated viaduct and 10 metro stations, connecting Botanical Garden to Noida Sector-142 and Depot Station to Boraki. Dive deeper
Jewellery retailer BlueStone reported a 45% YoY increase in business during the October 1–November 8 period, covering the key Dhanteras and Diwali shopping season. The strong festive performance attracted investor interest, with the company’s shares rising around 3% following the announcement. Dive deeper
Revised prices for 1,364 anti-cancer formulations came into effect on November 9, with estimated annual savings of ₹3,540 crore for consumers. Following trade margin caps introduced by the National Pharmaceutical Pricing Authority, 679 brands recorded price reductions exceeding 50%, with the steepest cut reaching 96.45%. Dive deeper
Top Stories Globally
Crude oil fell below $88 per barrel, extending the previous week’s 12.8% decline as investors assessed diplomatic efforts to end the Middle East conflict. President Donald Trump signalled a willingness to avoid further military escalation if Iran agreed to a deal, although fresh US strikes on Qeshm Island and uncertainty over negotiations kept tensions elevated. Dive deeper
Nvidia's board of directors announced an independent investigation following reports that CEO Jensen Huang was targeted by a foreign intelligence operation. The company has not disclosed further details about the alleged operation or the findings of the investigation. Dive deeper
Investment giant KKR reported record quarterly profit, supported by strong asset sales and higher investment management fees, sending its shares up 3% in premarket trading. Assets under management crossed $800 billion, while the company expects to return more than $40 billion to investors in 2026, despite a challenging environment for investment exits. Dive deeper
China announced a two-month extension of export-control waivers covering rare earths and other critical materials, preserving part of the trade agreement reached between Presidents Xi Jinping and Donald Trump. The restrictions, introduced and expanded in 2025 to cover rare earths, industrial diamonds and lithium battery technology, had been suspended for one year following the leaders' summit in South Korea. Dive deeper
China's producer prices rose 5.7% YoY in October, accelerating from 5% in September and beating market expectations of 5.3%, marking the fastest increase since June 2022. The rise was driven by stronger commodity prices and improving industrial demand, with mining prices surging 27.9% and raw material prices increasing 11.6%. 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.
Dr. Kiran S. Divi, Whole-time Director & CEO of Divi’s Lab on GLP-1 drugs creating enormous interest in peptide manufacturing:
“Coming to peptides, Divi’s has been a typical player in peptides for the last 20 years. Long before there was actually a GLP-1 molecule, Divi’s was a key player in peptide building blocks. That is our strength, and that is what customers see as our strength.”
“Apart from this, it is not just that we are working on GLP-1. We are working on several therapeutic categories with several customers. This requirement creates demand for several new lines to be put in place. That is why we have consciously decided to install several lines based on the projects with our customers.” - Link
The week ahead & Corporate Actions
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
In our latest special episode of In The Money by Zerodha, we test two strategies on Indian stocks: selling a naked straddle after results and selling an iron fly with defined risk.
Using data from 209 Indian F&O stocks between October 2021 and August 2026, we examine six exit timings, from the same day to five trading days later. We analyse average returns, win rates, median returns, and stock-by-stock performance to understand how holding periods affect results.
We then test an iron fly strategy, where protective options limit potential losses. We examine how protection costs affect returns and why positive median returns can coexist with negative average percentage returns.
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!