Trump's comments on ending the ceasefire rattle markets
Nifty logs worst day in over three months
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 trace where CAGR and XIRR actually came from — and the answer goes back further than you’d expect.
Most people never question them. I did — and it led me from a Babylonian clay tablet to a forgotten software company in Cambridge, Massachusetts.
CAGR — 4,000 years of compounding, from ancient livestock loans to your fund fact sheet.
XIRR — Newton’s unpublished manuscript, a 17th-century priority dispute, and an Excel plugin built in 1993 by a company that disappeared without a trace.
Two metrics. Over a thousand years of mathematics. And a reason why your SIP returns can look completely different from your fund’s CAGR.
Markets Today
Nifty opened with a 140-point gap down at 24,260, tracking weak global cues and a flare-up in oil prices following rising tensions around the Strait of Hormuz. After the weak start, the index slipped further in the opening minutes before recovering gradually and trading in the 24,230–24,290 range through most of the first half.
The momentum, however, faded in the second half as markets witnessed a sharp sell-off after Trump said the Iran conflict-ending memorandum of understanding was “over,” reviving fears of Middle East supply disruptions. The index drifted lower until around 1:40 PM, after which a sharp wave of selling dragged Nifty below the 24,000 mark in quick succession.
The decline extended into the final hour, with the index hitting an intraday low near 23,805 before witnessing a modest recovery. Nifty eventually closed at 23,882.05, well below its opening level, as geopolitical concerns and higher crude prices weighed heavily on 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 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 14th July:
The maximum Call Open Interest (OI) is observed at 24,200, followed by 24,300, indicating potential resistance at the 24,200 -24,300 levels.
The maximum Put Open Interest (OI) is observed at 23,500, followed by 23,600, suggesting support at 23,700-23,600.
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
The Indian rupee fell to its weakest level in nearly a month, declining 0.6% to close at 95.56 against the U.S. dollar after touching an intraday low of 95.60. The decline followed U.S. President Donald Trump's statement that the interim Iran peace accord was "over," triggering a surge in oil prices and putting pressure on Asian currencies. Dive deeper
The SEBI has amended FPI regulations to shift foreign portfolio investors (FPIs) and foreign venture capital investors (FVCIs) to a rupee-denominated fee payment system from the current U.S. dollar-based structure. The new framework will come into effect after six months, giving foreign investors time to transition. Dive deeper
Shares of Inox India rose 3% after the company announced it had secured multiple orders worth ₹939 crore since May 21, 2026. The industrial gas segment accounted for ₹871 crore of the order book, including a major order from the space exploration industry, as well as contracts for vaporizers and storage tanks. Dive deeper
Marksans Pharma will acquire Germany-based pharmaceutical wholesaler and distributor ABCnow GmbH for €892,384 (around ₹10 crore), strengthening its presence in the European pharmaceutical distribution market. Dive deeper
Mercedes-Benz India reported record retail sales for both Q2 and H1 2026, selling 9,768 cars in January–June, up 9% year-on-year. The company also posted its best-ever April–June quarter, with sales rising 10% to 4,637 units, supported by new launches and steady demand across its core and top-end portfolio. Dive deeper
Shares of InterGlobe Aviation, the parent of IndiGo, fell more than 5% after the airline's domestic market share slipped to 64.9% in May, according to data from the Directorate General of Civil Aviation. Sentiment was further weighed down by higher crude oil prices following U.S. airstrikes on Iran and renewed sanctions on Iranian oil, despite domestic passenger traffic rising over 11% month-on-month to 1.53 crore in May. Dive deeper
India's restrictions on silver imports have tightened domestic supplies, driving premiums to a six-month high despite softer demand. Premiums over official domestic prices have risen to $6.5 per ounce, more than 10% above benchmark prices compared with discounts of up to $5.5 per ounce in May. Dive deeper
Top Stories Globally
Oil prices jumped more than 5% to a two-week high after U.S. President Donald Trump said the Iran conflict-ending memorandum of understanding was “over,” reviving fears of Middle East supply disruptions. Brent rose 5.15% to $78 a barrel, while WTI climbed 5.25% to $74.14, their highest levels since June 23. Dive deeper
South Korea’s benchmark Kospi entered bear-market territory after falling more than 20% from its June 22 record close of 9,114.55, plunging another 6% to around 7,247 on Wednesday. The sell-off has raised concerns over the market’s heavy dependence on semiconductor stocks, a risk flagged by the country’s finance minister. Dive deeper
OpenAI has received approval from the U.S. Department of Commerce for the broad launch of its advanced GPT-5.6 model after additional government testing under Washington’s new oversight framework for frontier AI, according to Axios. Dive deeper
Apple plans to invest more than $30 billion under a long-term chip supply agreement with Broadcom through 2031. The deal includes expanding Broadcom's factory in Colorado and supplying FBAR radio-frequency filters, which Apple has been co-developing with Broadcom since at least 2023 to improve wireless connectivity in its devices. 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.
Union Finance Minister Nirmala Sitharaman says that India should aim to manufacture and supply at least a quarter of the global toy market, which is projected to reach $179 billion by 2032:
“Imports of toys, which were earlier concentrated from one country and included a lot of cheap, unsafe products, have declined by 71% between 2019 and 2026,”
“We are still aiming for $5 billion by 2034; I think we are capable of better — at least aim for one quarter of it. Do not stay at $5 billion; that's a big number, but we should aim for higher,” - Link
Corporate Actions & Events
Corporate Actions
Published by Zerodha. Not investment advice. Data from NSE, BSE, and MCX.
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!