Peace talk progress & softer oil prices power Nifty above 24,000

Midcap Select once is back near fresh highs

May 25, 2026

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 sit down with Nick Radge, a veteran trader and systematic strategist with nearly 40 years of market experience. From starting as a clerk in 1985 to working at global desks like HSBC and Macquarie, Nick later founded The Chartist and now manages the All Weather Fund.

We trace his evolution from hand-drawn charts in the 1980s to running nine global momentum and trend-following strategies today, exploring why factor momentum dominates his approach and how he builds portfolios to survive volatile markets.

Check out In The Money

Markets Today

Nifty opened with a big gap up of 221 points at 23,940, tracking a sharp 5% decline in crude oil prices after both the US and Iran signalled progress in peace talks.

After the initial swings, Nifty moved into a narrow range through the late morning session, hovering largely between 23,950 and 23,980 with a slight positive bias. The index briefly dipped toward the 23,940 zone around 12:30 PM before recovering steadily.

In the second half, buying momentum strengthened gradually. Nifty reclaimed the 24,000 mark after 2:30 PM and extended gains sharply in the final hour, climbing toward the 24,040–24,050 zone and eventually closing near the day’s high at 24,031.70.

The session was marked by a strong gap-up opening, a prolonged consolidation phase, and a sharp late rally driven by easing crude prices and improving global sentiment.

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 the 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 26th May:

The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,000, indicating potential resistance at the 24,200 -24,300 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 23,900, suggesting support at 23,900-23,800.

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

Management Chatter

In this section, we highlight interesting comments from the management of major companies and policymakers in the Indian and Global Economies.

Sanjay Malhotra, Governor of RBI, on the Rupee and Balance of Payment situation:

“With the recent depreciation, it would be reasonable to think that the rupee is not overvalued. If anything, one could argue that the rupee has become undervalued.”
“It’s not an undue concern, yet it requires some attention in the form of concerted efforts by the government, RBI, and all institutions concerned.” - Link

Finance Minister Nirmala Sitharaman, on the impact of the West Asian crisis:

“We should please understand the context of these three Fs: Fuel, fertiliser, and foreign exchange. To just put it in context, all these three payments will have to be in foreign exchange. There is no rupee trading there.”
“For businesses and common people, it can mean higher fuel costs, delayed cargo, costlier shipping, shortage of inputs, pressure on working capital, and uncertainty in export orders.”
“India cannot afford fear-mongering. We need to give confidence to the people with our words and with our actions.” - Link