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.
Markets Today
Nifty opened with a small 32-point gap up at 24,123, tracking stable global cues despite the weak trend in domestic markets of late. The index gained further immediately after the open, moving above 24,150 and eventually towards the 24,170–24,175 zone during the first hour.
However, the early strength failed to sustain, with Nifty turning lower after 10:30 AM and giving up most of its gains. The decline accelerated around 11:15 AM, dragging the index towards 24,100 and eventually to the day’s low near 24,075 around noon. A modest recovery followed towards the end of the first half, taking Nifty back above 24,100, though the index remained well below its morning highs.
The second half began on a subdued note, with Nifty oscillating largely between 24,090 and 24,120 through the early afternoon. The tone gradually improved after 2:30 PM, with the index forming a steady recovery and moving above 24,120 by then. After some volatility, buying strengthened in the final hour, pushing Nifty towards 24,140 before a brief pullback. The index recovered again heading into the close, and a strong move during the closing auction session lifted it sharply to 24,175.65, the day’s high, helping Nifty finish around 50 points above its opening level.
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 1st September:
The maximum Call Open Interest (OI) is observed at 24,300, followed by 24,500, indicating potential resistance at the 24,300- 24,400 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,100, suggesting support at 24,000-23,900.
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 industrial production growth slowed to 6.7% YoY in July from 7.3% in June, with manufacturing growing 7.3% and electricity & gas supply 8.7%, while mining contracted 0.9%. Within manufacturing, 19 of 23 industry groups expanded, led by electrical equipment (+28.3%) and motor vehicles (+22.2%). Dive deeper
India’s forex reserves surged $12.42 billion to a record $729.33 billion in the week ended August 21, surpassing the previous peak of $728.49 billion in February. Foreign currency assets rose $9.48 billion to $591.33 billion, driving most of the increase. Dive deeper
The government has achieved around 78% of its FY27 disinvestment and asset monetisation target of ₹80,000 crore within five months, raising ₹55,757 crore through stake sales in nine PSUs, including LIC and Coal India, alongside strategic sales and SUUTI remittances. Dive deeper
IndiGo’s venture capital arm IndiGo Ventures will invest in Indian AI startup Sarvam as part of its Series B funding round, with financial terms undisclosed. The investment expands their existing partnership to use AI across customer experience, employee support, and airline operations. Dive deeper
TVS Motor Company appointed Peyman Kargar as its next CEO and Director for a five-year term from January 27, 2027, succeeding K N Radhakrishnan. Kargar currently heads the company’s international business and will lead its push into premium products and developed markets. Dive deeper
India’s wireless subscriber base grew by 55.38 lakh in July to 128.79 crore, with Bharti Airtel leading additions at 26.8 lakh, followed by Reliance Jio at 24.4 lakh. Vodafone Idea and BSNL also added 2.4 lakh and 1.68 lakh subscribers, respectively. Dive deeper
The Road Transport Ministry will appoint Engineers India Ltd (EIL) as a third-party inspection agency for around 5,000 km of expressways and national highways amid concerns over construction quality and premature failures. EIL will initially be engaged for three years and monitor projects throughout their construction period. Dive deeper
Tejas Networks shares rallied nearly 13% after the company received a Letter of Intent from TCS for a potential ₹1,537-crore order to supply RAN equipment, accessories and installation materials for BSNL’s 4G network. Dive deeper
Top Stories Globally
WTI crude fell below $83 per barrel, taking weekly losses to nearly 5%, as Persian Gulf oil exports, as per Goldman Sachs, continued to recover with increased shipments through the Strait of Hormuz. Regional exports have risen to 15–16 million barrels per day from March lows of 5–6 million, though still below pre-conflict levels. Dive deeper
SK Hynix plans to begin volume production of next-generation HBM4E chips at its Indiana facility in Q3 2029. The company also expects the current memory-chip shortage to persist through the end of 2030, reflecting sustained demand for AI-related chips. Dive deeper
Toyota global sales fell 4.8% YoY to 856,125 vehicles in July, while production declined 2.1%. Sales plunged 24.3% in China and 44.5% in the Middle East, while U.S. sales slipped 0.8%, offsetting an 11% rise in Japan. Dive deeper
ICBC, the world’s largest bank by assets, reported a 3.3% YoY rise in H1 net profit to 173.7 billion yuan ($25.85 billion), despite slowing credit growth and subdued loan demand weighing on China’s banking sector. Dive deeper
BYD reported a 20.5% YoY drop in H1 net profit to 12.3 billion yuan ($1.83 billion), while revenue fell 7.1% to 344.8 billion yuan. Earnings were hit by a prolonged EV price war and softer demand in China. 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.
Former RBI Governor Raghuram Rajan urges Fed to raise rates, says rupee is not in panic zone:
“The Fed should be raising rates or should have raised rates already; I would be more hawkish than where the Fed is right now.”
“I do think that financial conditions are not restrictive at this point.” The US growth is coming from “very strong” investment in data centers. The US also has a “very strong fiscal deficit, which doesn’t look like it’s coming down anytime soon.”
American consumers are running down savings and continuing to spend. “When you have all these things together, it would suggest an economy which is not being held back.”
“At this point, I don’t think the currency (Rupee) is that far out of whack; I don’t think it’s a panic situation.” - Link
Corporate Actions & Events
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
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