Strong start and steady gains push Nifty above 25,850 mark
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 video series, We break down the story of FPI (formerly FII) and DII flows — their origins, evolution, and how they became dominant forces in India’s equity markets. From the 1990s market liberalization to the post-2016 shift where domestic investors absorbed foreign selling, we explore the economic, regulatory, and behavioral drivers behind these trends — and ask whether tracking daily or weekly FPI-DII data truly gives traders an edge.
Market Overview
Nifty opened with a strong 140-point gap-up at 25,834, extending the previous session’s positive momentum amid firm global cues. After a brief dip to the 25,780 zone in early trade, the index quickly rebounded and held above 25,800 through the morning session. It remained comfortably in the green, consolidating within a narrow band between 25,850 and 25,900.
Around 12:30 PM, Nifty crossed the 25,900 mark and advanced toward 25,930 but faced mild resistance at higher levels. Despite a brief pullback toward 25,850 in the last hour, the index held firm and ended the day at 25,875.80, up around 0.7%. The session reflected broad-based strength and follow-through momentum after yesterday’s sharp rebound.
Looking ahead, markets are likely to remain sensitive to developments around the India–U.S. trade deal and the Bihar state election results, which could trigger short-term volatility. Investors will also keep a close watch on Q2 earnings and management commentary on festive-season demand trends following the recent GST rate cuts.
Broader Market Performance:
The broader markets had a strong bullish session today. Of the 3,199 stocks traded on the NSE, 1,925 advanced, 1,178 declined, and 96 remained unchanged.
Sectoral Performance:
Nifty IT emerged as the top gainer, rising 2.04%, while Nifty Realty was the biggest loser, slipping 0.49%. Out of the 12 sectoral indices, 10 closed in the green and 2 ended in the red, reflecting broad-based buying across sectors.
Here’s the trend of FII-DII activity from the last 5 days:
Change in OI for the day
The following is the change in OI for Nifty contracts expiring on 18th November:
The maximum Call Open Interest (OI) is observed at 26,000, followed by 25,900, indicating potential resistance at the 26,000 -26,100 levels.
The maximum Put Open Interest (OI) is observed at 25,800, followed by 25,500, suggesting support at the 25,800 to 25,700 levels.
Note: OI is subject to multiple interpretations, but generally, an increase in Call OI indicates resistance in a falling market, and an increase in Put OI indicates support in a rising market.
Source: Sensibull
Tijori is an investment research platform, and they have constructed niche indices for various themes and sub-sectors. They help you understand the market performance of narrow slices of the market. You can also track the Promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard
What’s happening in India
India’s retail inflation fell to a record low of 0.5% in October 2025, down from 1.44% in September and 6.21% a year earlier. The sharp decline was driven by GST rate cuts, a favorable base effect, and a steep drop in food inflation to –5.02%. Dive deeper
Asian Paints shares jumped 6.5% after the company posted a 43% year-on-year rise in consolidated net profit to ₹994 crore for Q2 FY26. Revenue grew 6% to ₹8,514 crore, supported by healthy volume growth. Dive deeper
Groww made a strong market debut, listing at ₹114 on the BSE against an issue price of ₹100. The stock hit an intraday high of ₹133.50 and closed near the day’s peak at ₹131.33. Dive deeper
Tata Motors Commercial Vehicles (TMLCV) made a strong debut following its demerger, listing at about a 28% premium as investors bet on India’s commercial-vehicle upcycle and the division’s independent valuation. Dive deeper
Adani Enterprises Ltd (AEL) shares rallied 5% as the board approved a ₹25,000 crore rights issue, aiming to raise capital via partly paid-up shares to bolster its balance sheet and fund growth initiatives. Dive deeper
India’s cotton imports are expected to hit a record 4.5 million bales in the 2025/26 season, up roughly 9.8%, driven by duty-free access and domestic output falling to a 17-year low. Dive deeper
Tata Power plans to set up a 10 GW manufacturing plant for solar wafers and ingots in India, completing its upstream production chain and aligning with the government’s push to on-shore key solar components. Dive deeper
BSE Ltd shares surged nearly 5% after the exchange reported a 61% year-on-year jump in consolidated net profit to ₹558 crore for Q2 FY26. Revenue rose 44% to ₹1,068 crore from ₹741 crore a year earlier, driven by strong growth across business segments. Dive deeper
What’s happening globally
Gold prices climbed for the fourth consecutive session, supported by a softer dollar and growing expectations that the Federal Reserve will cut interest rates. Dive deeper
Japan’s Nikkei 225 slipped from its record high as the SoftBank Group-led tech surge eased and the yen strengthened, weighing on export-sensitive stocks. Dive deeper
European shares hit record highs as optimism grew over a potential end to the U.S. government shutdown and focus shifted to corporate earnings. Dive deeper
Apple has partnered with iconic Japanese designer Issey Miyake to launch the iPhone Pocket, a 3D-knitted accessory designed to hold an iPhone and small essentials. Dive deeper
Germany’s wholesale prices rose 1.1% year-on-year in October 2025, marking the 11th consecutive monthly increase. The rise was led by higher food, beverage, and tobacco costs, with sharp gains in coffee, sugar, and meat prices. Dive deeper
Management chatter
In this section, we pick out interesting comments made by the management of major companies and policymakers of the Indian and Global Economy.
Amit Ramani, CMD of Awfis Space Solutions, on Enterprise Client Focus
“Out of our five elite centres, around 10 GCC clients operate there. We added 5,000 seats for Fortune 100 companies, including expansions in tier-II locations. Overall, at least 50% of our portfolio caters to GCC-type clients.” - Link
Tuhin Kanta Pandey, Chairman of SEBI, on FIIs, SLB & Cash markets
“In my interactions with foreign participants, both in India and abroad, I got the feeling that the number one (issue) is that our registration process still takes too long. It is unacceptable,”
“We have to look at costs. If the transaction cost is too high the activity will not take place,”“While the liquidity in cash markets has improved in the last few years we want it to improve further,” Pandey said. “Some decisions may have to be taken in terms of margins,” - Link
🧑🏻💻Have you checked out The Chatter?
Every week, we listen to the big Indian earnings calls—Reliance, HDFC Bank, and even smaller logistics firms—and copy the full transcripts. We then remove the fluff and keep only the sentences that could move a share price: a surprise price hike, a cut-back on factory spending, a warning about weak monsoon sales, or a hint from management on RBI liquidity. We add a quick, one-line explainer and a timestamp so you can trace the quote back to the call. The whole thing lands in your inbox as one sharp page of facts you can read in three minutes—no 40-page decks, no jargon, just the hard stuff that matters for your trades and your macro view.
Go check out The Chatter here.
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Calendars
In the coming days, we have the following quarterly results, significant events, and corporate actions:
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!