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 75-point gap down at 23,065, tracking weak global cues as continued geopolitical tensions pushed oil prices higher by around 4%, while weakness in domestic markets persisted. The index came under heavy selling pressure immediately after the open, falling below 22,900 within the first half hour. Selling continued through the morning, with Nifty gradually slipping towards the 22,820 zone by around 11 AM.
The index then settled into a narrow range, largely oscillating between 22,820 and 22,850 through midday and the early part of the second half, with recovery attempts remaining limited.
Weakness resurfaced after 2 PM, pushing Nifty below 22,800 and to an intraday low near 22,760 around 2:30 PM. A brief recovery towards 22,800 followed, but it failed to sustain. Nifty eventually closed the day at 22,780.25, 285 points below its opening level, as geopolitical uncertainty, higher oil prices and persistent domestic weakness continued to weigh on sentiment.
Fear & Greed Index
The Fear & Greed Index plunged from 37 to 21, moving into extreme fear. Higher hedging demand, weak market trends, and defensive stocks outperforming high-beta names drove the deterioration.
Market Breadth
Selling was broad, with 1,881 decliners versus 425 advancers. Only 20.7% of Nifty 500 stocks remain above their 50-day average, while 52-week lows outnumbered highs 44 to 6.
52 Week Highs & Lows
Sectoral Indices Performance
All 15 sectors fell, with IT (-0.26%) holding up best and PSU Banks (-3.24%) falling the most. Pharma remains the only sector above all four key moving averages, while high-beta stocks sharply underperformed low-volatility names.
Winners & Losers
Tata Teleservices jumped 5.05% on 26× usual volume, while financial stocks occupied four of the five worst F&O slots. Indo-Mim recorded the biggest delivery spike, while Page Industries saw the sharpest rise in implied volatility.
Delivery Data
Global Markets
Commodities
Institutional Flows & Participant Positioning
FIIs remained heavily short, with just 12.2% of index-futures positions long.
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
Options price a roughly 156-point move either way into Tuesday’s expiry, while implied volatility rose from 10.4% to 13.1%. Heavy call writing pushed PCR from 0.97 to 0.71.
Top Stories in India
India’s industrial production growth accelerated to 8% YoY in August from a revised 7.4% in July, the second-highest growth in 29 months. Manufacturing led the improvement, growing 9%, with electrical equipment up 30.9% and transport-related industries also posting strong growth. Dive deeper
ACs, TVs, refrigerators and washing machines are set for another round of price increases from October. AC prices could rise 5–8%, while TVs, refrigerators and washing machines may become 3–4% costlier, driven by higher production costs, rupee weakness, freight expenses and component pressures. Dive deeper
Godrej Properties has signed an agreement to jointly develop a 2.5-acre luxury housing project at Marine Lines in South Mumbai. The project has an estimated revenue potential of around ₹6,000 crore. Dive deeper
NSE shares fell below their ₹1,785 IPO price on the third day of trading, slipping to ₹1,761 amid a broader equity market sell-off. The decline extends the stock’s muted performance since listing. Dive deeper
Sun Pharma signed an exclusive agreement with LIB Therapeutics to manufacture and commercialise Lerodalcibep, a once-monthly cholesterol drug, outside the US and China. The deal gives Sun Pharma access to a $3.7 billion PCSK9 market, which is growing at 38% annually. Dive deeper
Kalpataru Projects International received a major EPC order for a gas pipeline project in the UAE, indicating an estimated contract value of more than ₹4,000 crore. Dive deeper
India’s Russian crude imports fell to 1.74 million barrels per day in September, the lowest since April, from 2.02 million bpd in August. However, overall crude imports rose sharply to around 5.3 million bpd as refinery runs increased. Dive deeper
Tata Projects partnered with Canada’s MDS Aero Support to develop advanced aero-engine testing infrastructure in India. Tata Projects will handle key civil, structural and engineering infrastructure, while MDS will bring expertise in gas-turbine engine testing. Dive deeper
Top Stories Globally
WTI crude jumped more than 4% above $96 before easing below $95, as uncertainty around US-Iran diplomacy kept supply risks elevated. Iran continues to demand an easing of the US naval blockade and oil sanctions before reopening the Strait of Hormuz. Dive deeper
Gold fell to around $4,150 an ounce, its lowest since August 5, as rising oil prices fueled inflation concerns and strengthened expectations of higher-for-longer interest rates. A stronger US dollar and elevated Treasury yields added further pressure on the non-yielding metal. Dive deeper
Nvidia unveiled the Open Agent Safety Platform, designed to set boundaries for autonomous AI agents and prevent unintended behaviour. The platform comes amid growing concerns around the security risks posed by increasingly capable AI agents. Dive deeper
The US and China agreed to provide more favourable tariff treatment for $60 billion worth of bilateral trade, covering products ranging from US corn and cosmetics to Chinese appliances and toys. Each side has recommended $30 billion of non-sensitive goods for tariff relief. Dive deeper
Nvidia added $150 billion to its share-repurchase authorization, taking its remaining buyback capacity to $235 billion through fiscal 2028. The increase is the largest-ever addition to a corporate stock buyback programme. Dive deeper
China’s industrial profit growth slowed to 4.2% YoY in August from 11.2% in July, as weak domestic demand offset strength in technology manufacturing. Electronics manufacturing remained a bright spot, with profits up 110% in the first eight months. Dive deeper
Japan’s services producer prices rose 3.7% YoY in August, the fastest pace in more than two years, accelerating from 3.6% in July. Persistent price pressures strengthened expectations of further Bank of Japan rate hikes. Dive deeper
The dollar remained near a two-month high, with the dollar index around 101.16, as US-Iran tensions lifted oil prices and Treasury yields. The index is on track for a 1.7% monthly gain, its strongest since June. 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.
Agriculture Secretary Atish Chandra on the upcoming rabi (winter) season:
"We are seeing that in the coming season, production is likely to be affected to a large extent. And the rabi season will also be challenging for the rainfed areas,"
"We used to think that we will face the challenges of climate change later. But now we see the changes happening, and they are happening at a fast pace," - Link
Commerce and Industry Minister Piyush Goyal on growing exports:
"We have increased our merchandise exports by upward of 15 per cent in the first six months (up to September 21) this year, which is a pretty important and significant achievement given the fact that we are living in a world where two wars are going on and the Strait of Hormuz, which is our principal sea route, is facing so much stress." - Link
The week ahead & Corporate Actions
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 cover four major factors beyond momentum: Value, Quality, Low Volatility, and Size.
We look at how each factor is measured, the research behind them, and how they are represented through Indian market indices.
Finally, we compare how these factors have performed over a recent period, look at why different factors can behave differently, and discuss the difficult question of whether factors can actually be timed.
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!
Loved it! As a self learning student in finance. These are so helpful. Thank you team