Peace talks fuel broad-based rally; Nifty jumps 2% to close above 23,600
Will the deal happen finally? or will the drama continue?
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 251-point gap-up at 23,413, following reports of the US and Iran moving closer to a peace deal, which lifted global markets and pushed crude oil prices below $88 per barrel. However, after the strong opening, the index gradually drifted lower through the morning session, slipping toward the 23,330–23,350 zone by around 10 AM.
The market remained range-bound for most of the first half, oscillating between 23,330 and 23,380 as traders digested the sharp overnight gains. Nifty briefly tested the 23,310–23,320 zone around 12:30 PM, marking the day’s low.
A strong recovery emerged around 1:30 PM after reports suggested that Iran has confirmed considerable progress in peace talks, helping Nifty reclaim the 23,450 mark and extend gains steadily through the afternoon. The rally gathered pace in the final two hours, with the index crossing 23,550 and then 23,600 as broad-based buying returned. Nifty eventually closed near the day’s high at 23,622.90.
The session was marked by an initial phase of consolidation after a gap-up opening, followed by a strong second-half rally that pushed the index to fresh intraday highs and ensured a strong close.
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 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 23,800, indicating potential resistance at the 23,800 -23,900 levels.
The maximum Put Open Interest (OI) is observed at 23,400, followed by 23,300, suggesting support at 23,400-23,300.
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 retail inflation rose to 3.93% in May from 3.48% in April, driven primarily by higher food prices, with food inflation increasing to 4.78%. Rural areas witnessed stronger price pressures, with rural CPI inflation at 4.25% compared with 3.53% in urban areas, according to data from the Ministry of Statistics and Programme Implementation. Dive deeper
India’s foreign exchange reserves declined by $711 million to $681.6 billion in the week ended June 5, reversing part of the previous week’s $938 million increase. The fall was primarily driven by a reduction in foreign currency assets, which form the largest component of the country’s forex reserves. Dive deeper
Tata Motors Passenger Vehicles will raise prices of its passenger vehicle portfolio, including both ICE and electric vehicles, by up to 1.5% from July 1. The company said the increase is aimed at partially offsetting rising input costs and inflationary pressures stemming from supply-chain disruptions linked to the ongoing West Asia conflict. Dive deeper
India’s Finance Ministry has waived customs duties on all goods imported for nuclear power generation, including retrospective relief for eligible imports made between April 2019 and January 2026. The move is expected to reduce project costs for nuclear power operators and equipment suppliers. Dive deeper
Bank credit growth accelerated to 17.4% as of May 31, the fastest pace in nearly two years, driven by stronger loan demand as rising bond yields pushed corporates toward bank financing. Deposit growth remained comparatively weaker at 12.1%, highlighting the continued gap between credit and deposit expansion in the banking system. Dive deeper
Hitachi Energy India will invest around ₹2,000 crore to establish a large power transformer manufacturing facility in Karjan, Vadodara, one of the largest investments in India’s power equipment sector. The plant, expected to be operational by FY28, will cater to high-voltage transmission projects, HVDC networks, AI data centres, power generation facilities, and industrial applications. Dive deeper
IFCI shares hit the 20% upper circuit and a fresh 52-week high amid reports that National Stock Exchange could file its DRHP next week. Investor interest was driven by IFCI’s indirect exposure to NSE through its 52% stake in Stock Holding Corporation of India, which owns 4.4% of NSE. Dive deeper
Top Stories Globally
Brent crude oil fell more than 4% to below $86.5 per barrel, its lowest level since early March, as optimism grew over a potential US-Iran peace agreement that could ease supply disruptions. Reports that a draft deal includes lifting oil sanctions on Iran and reopening the Strait of Hormuz within 30 days raised expectations of improved global oil flows and reduced geopolitical risk. Dive deeper
United Kingdom’s economy contracted 0.1% month-on-month in April 2026, reversing the 0.3% growth recorded in March and marking the first decline since August 2025. The slowdown was driven by a 0.2% fall in services output. Dive deeper
Hong Kong’s manufacturing production grew 3.1% YoY in Q1 2026, slowing from a revised 5.8% expansion in the previous quarter and marking the weakest growth since Q2 2025. The moderation was driven by slower output growth across key segments, including food, beverages and tobacco, electronics and machinery, and other manufacturing industries. Dive deeper
Opendoor has begun winding down its India operations and is laying off all 250 employees in the country. The move is part of the company’s strategy to relocate operational roles closer to its core US market and streamline operations. Dive deeper
Warburg Pincus is set to launch a tender offer to acquire J.S.B. in a deal valued at over $1 billion. The proposed acquisition highlights continued private equity interest in Japan’s residential and student housing sector. 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.
Carl Pei, CEO of Nothing, on Smartphones getting expensive:
Memory is now the most expensive component in a smartphone. It's more expensive than the processor, more expensive than the display, and can account for more than 50% of the total hardware bill.
Phone prices are going up, and they'll keep going up into next year. Since February, new phones have been launching up to $100 more expensive than their predecessors. In India, phones above ₹30K have seen price jumps of ₹7,000 or more.
The natural instinct is to buy ahead. It doesn't work that way. In a shortage, memory is allocated, not bought. You get what you're given, at the current price. If you've been waiting to upgrade a device, the best time was yesterday. The next best time is now. This year's sale season won't have the discounts people are used to. - Link
Corporate Actions & Events
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
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