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.
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Market Overview
Nifty opened flat at 24,803.25 and dipped to around 24,750 in early trade before recovering nearly 100 points to hit 24,860. The index then turned rangebound with a slight negative bias, moving between 24,780 and 24,820 until 2 PM. In the final hour, volatility picked up as Nifty briefly climbed to 24,850 before falling back below 24,800, eventually closing at 24,793.25, down 0.07%.
Market sentiment remains cautious amid rising tensions in the Middle East, which have pushed oil prices higher. Investors are closely watching for further developments on the geopolitical front and any updates on global tariff actions.
Broader Market Performance:
Broader markets had an extremely weak session today. Of the 2,954 stocks traded on the NSE, 516 advanced, 2,363 declined, and 75 remained unchanged.
Sectoral Performance:
The top-gaining sector for the day was Nifty Auto, which closed up by 0.52%. On the other hand, the worst-performing sector was Nifty PSU Bank, falling by 2.04%.
Out of the 12 sectors listed, only 1 sector (Nifty Auto) ended in the green, while the remaining 11 sectors closed in the red.
Note: The above numbers for Commodity futures were taken around 5 pm. 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 26th June:
- The maximum Call Open Interest (OI) is observed at 25,000, followed closely by 24,800, suggesting strong resistance at 25,000 - 25,100 levels.
- The maximum Put Open Interest (OI) is observed at 24,500, followed closely by 24,800, suggesting strong support at 24,600 to 24,500 levels.
Note: OI is subject to multiple interpretations, but generally, an increase in the call OI indicates resistance in a falling market, and an increase in the 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
The rupee fell 30 paise to close at ₹86.73/USD, its weakest level in over two months. The drop was driven by rising crude oil prices and escalating Israel–Iran tensions, which increased dollar demand. Brent crude jumped nearly 19% this month, adding pressure on the currency. Dive deeper
Adani Ports shares fell 2.3%, extending a 9% drop over seven sessions amid rising tensions in the Israel-Iran conflict. Investors are concerned about risks to its Haifa port in Israel, where it holds a 70% stake. The port remains operational, but Adani Ports has lost â‚ą2.9 lakh crore in market cap since early June. Dive deeper
DreamFolks stock fell nearly 9% after reports claimed ICICI Bank, Axis Bank, and Mastercard may bypass its lounge aggregation service to partner directly with airports. This comes after a major service outage in September 2024 disrupted lounge access across 34 airports. DreamFolks has denied any partnership cancellations and called the media reports incorrect. Dive deeper
Nifty IT index fell nearly 1% after Fed Chair Powell flagged inflation risks from tariffs, raising concerns over U.S. tech spending. Wipro was the only gainer after a CLSA upgrade, while Tech Mahindra was downgraded. Broader IT sentiment weakened due to global demand slowdown and macro headwinds. Dive deeper
MTAR Technologies rose 3% after signing a 10-year contract with Weatherford worth â‚ą90 crore annually for whipstock assemblies. Production will begin in June 2026 at its Adibatla facility, with initial execution of â‚ą10 crore in FY26. The stock has gained 29% in the last three months. Dive deeper
Uno Minda will invest â‚ą210 crore to set up a new EV casting parts plant in Aurangabad. Phase 1 will begin in Q2 FY27, with a planned capacity of 3,629 MT per year over five years. The project will be funded through internal accruals and term loans. Dive deeper
What’s happening globally
The U.S. Fed held rates at 4.25%–4.50% and projected two rate cuts in 2025, despite raising the inflation forecast to 3% and lowering GDP growth to 1.4%. Chair Powell warned that tariffs could lead to meaningful inflation. Seven of 19 Fed officials now see no cuts this year, showing internal divide. Dive deeper
Israel’s TA-35 index hit a 52-week high of 2,811.7 despite Iran’s missile attack on the Tel Aviv Stock Exchange. The broader TA-125 index also gained, with markets up 16% YTD. Investors appeared confident that the conflict is contained, brushing off the attack. Dive deeper
Vodafone has appointed Microsoft executive Pilar López as its new CFO, effective December 1, 2025. She replaces Luka Mucic and brings prior experience from Telefónica and senior roles at Microsoft. The move is part of Vodafone’s ongoing transformation strategy. Dive deeper
Google faced a setback as the EU court adviser backed a €4.12 billion fine for bundling Search and Chrome with Android. This follows a 2022 reduction from the original €4.34 billion penalty. While the opinion is non-binding, it is often followed by the court in final rulings. Dive deeper
Nippon Steel completed its $14.9 billion acquisition of U.S. Steel, retaining its Pittsburgh HQ and union agreements. The deal includes a rare “golden share” giving Donald Trump veto power over key decisions. Nippon also pledged to invest $11 billion in U.S. operations by 2028. Dive deeper
The Bank of England kept interest rates unchanged at 4.25% in a 6–3 vote, citing global risks and inflation at 3.4%. Three members voted for a cut, and markets now see a 59% chance of a rate cut in August. The central bank stressed a gradual, data-driven approach amid economic uncertainty. 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.
P.B. Balaji, Non-Executive, Non-Independent Director, Tata Consumer Products on Innovation
Innovation is a critical muscle for an FMCG company and over the last 5 years, we have significantly scaled our innovation efforts, launching over 150 products, and our innovation-to-sales ratio has grown from 0.8% in FY20 to 5.2% in FY25, among the best in the industry. - Link
Jerome Powell, Chair of the Federal Reserve of the United States on impact of tariffs
Ultimately, the cost of the tariff has to be paid, and some of it will fall on the end consumer. We know that’s coming, and we just want to see a little bit of that before we make judgments prematurely. - 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.
Calendars
In the coming days, we have the following 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!
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