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 with a sharp 415-point drop at 24,473 after reports of an Israeli strike on Iran. It rebounded to 24,600 and moved in a narrow 50-point range early on, then gradually climbed towards 24,700. In the second half, it stayed rangebound between 24,670 and 24,750, closing at 24,718.60, down 0.68%.
While the RBI’s sharper-than-expected rate and CRR cuts provided early support, sentiment turned cautious as tensions in the Middle East pushed oil prices higher. Trade worries also resurfaced after U.S. President Trump signalled fresh unilateral tariff measures.
Broader Market Performance:
Broader markets had a weak session today. Of the 2,964 stocks traded on the NSE, 1,059 advanced, 1,824 declined, and 81 remained unchanged.
Sectoral Performance:
Among the sectoral indices, Nifty Media emerged as the top gainer, closing up by 0.17%, followed by Nifty Realty and Nifty IT, which ended marginally higher. On the flip side, Nifty PSU Bank was the worst performer, declining 1.18%, trailed by Nifty FMCG and Nifty Bank, which fell 1.05% and 0.99%, respectively.
Out of the 12 sectors listed, 3 sectors closed in the green, while 9 ended in the red, indicating a broadly negative market breadth across sectoral indices.
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 19th June:
- The maximum Call Open Interest (OI) is observed at 25,000, followed closely by 25,200, suggesting strong resistance at 25,000 - 25,200 levels.
- The maximum Put Open Interest (OI) is observed at 24,500, followed closely by 24,700, 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
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What’s happening in India
SEBI has mandated commodity exchanges to ensure Product Advisory Committees meet at least twice a year, and at least once annually for agricultural commodities. The directive, part of SEBI’s Master Circular, aims to enhance oversight and stakeholder engagement across commodity derivatives. Dive deeper
The Finance Ministry has allowed companies in FDI-restricted sectors to issue bonus shares to existing non-resident shareholders, provided their ownership stake remains unchanged. Effective June 11, the move offers flexibility in equity restructuring and aligns with efforts to attract foreign capital. Dive deeper
Torrent Power’s subsidiary, Torrent Green Energy, has secured a 300 MW wind project under Wind Tranche-XVIII at a tariff of ₹3.97 per unit. The project, estimated at ₹2,650 crore, is to be commissioned within 24 months of signing the power purchase agreement. Dive deeper
The RBI has cancelled the 14-day variable rate repo auction for the third straight fortnight, citing comfortable liquidity conditions despite upcoming tax outflows of around ₹3 lakh crore. The move signals the central bank’s confidence in the system’s liquidity position. Dive deeper
The Bhartia family, promoters of the Jubilant Group, is likely to offload small stakes in listed firms via block deals, including 2% in Jubilant Food at a floor price of â‚ą641 per share. Stakes in Jubilant Pharmova and Jubilant Ingrevia may also be sold at discounts, with proceeds likely linked to funding their HCCB stake acquisition. Dive deeper
Talbros Automotive and its joint ventures have secured multi-year orders worth â‚ą580 crore across domestic and export markets. About â‚ą260 crore comes from sealing and forging businesses, â‚ą290 crore from chassis components, with half linked to EVs, and â‚ą30 crore from rubber products, improving revenue visibility and growth outlook. Dive deeper
Banks’ non-Statutory Liquidity Ratio (non-SLR) investments rose 15% in FY25, outpacing the 10% growth in Statutory Liquidity Ratio (SLR) holdings, driven by higher returns from instruments like commercial papers, stocks, bonds, and mutual funds. Dive deeper
NBFCs emerged as the top overseas borrowers in April, raising $1.53 billion out of India Inc’s total $2.92 billion in external commercial borrowings. Shriram Finance led with $955 million, as NBFCs increasingly tap ECBs to lower funding costs and diversify sources amid slower bank lending. Dive deeper
The RBI has granted Yes Bank CEO Prashant Kumar a six-month extension starting October 6, 2025, or until a new MD & CEO is appointed. This comes as Sumitomo Mitsui Banking Corp. moves to acquire a 20% stake in the bank, pending regulatory approvals. Dive deeper
Canara Bank’s board has approved a capital-raising plan of up to ₹9,500 crore for FY26 through debt instruments, including ₹6,000 crore via Tier II bonds and ₹3,500 crore via AT1 bonds, subject to market conditions and regulatory approvals. Dive deeper
Rayzon Solar, a Surat-based solar panel manufacturer, plans to file draft papers with SEBI by month-end for a â‚ą1,500 crore IPO to fund its expansion. The company has engaged investment banks and recently raised â‚ą138 crore via private placement. Dive deeper
IndiGo’s promoter, InterGlobe Enterprises, is planning to sell around a 4% stake via block deals to raise $1 billion, continuing the stake reduction trend by co-promoter Rakesh Gangwal. The move comes amid rising crude prices and escalating geopolitical tensions, adding pressure on aviation stocks. Dive deeper
LIC has announced special relief measures for families of victims of the Air India flight AI 171 crash in Ahmedabad, easing claim norms by accepting alternate government records in place of death certificates. The insurer assured proactive support and expedited settlement to the affected families. Dive deeper
Dixon Technologies has signed a 50:50 joint venture with Signify to expand its OEM lighting business in India. The venture will focus on manufacturing lighting products and accessories. The deal is subject to customary approvals and is expected to close by November 30, 2025. Dive deeper
What’s happening globally
WTI crude briefly topped $77 before settling near $73, driven by fears of supply disruption after Israel’s strike on Iran and risks to the Strait of Hormuz. US crude stock draws and rising Fed rate cut expectations also supported prices. Dive deeper
Gold rose over 1% to above $3,420 as investors turned to safe-haven assets amid rising Middle East tensions and US trade policy uncertainty. Dive deeper
The US dollar index rebounded above 98.2 on Friday as Middle East tensions drove safe-haven demand, reversing Thursday’s multi-year lows. Earlier pressure stemmed from weak inflation data and renewed tariff threats. Dive deeper
US consumer sentiment rose to 60.5 in June, rebounding from a near-record low and surpassing expectations. The improvement was broad-based, though sentiment remains well below late-2024 levels amid ongoing tariff concerns. Inflation expectations eased notably, offering some relief. Dive deeper
Chinese banks issued CNY 620 billion in new loans in May, rebounding from April’s low but missing forecasts. The uptick followed a 90-day US-China trade truce and policy support, yet credit demand remained weak with loan growth at a multi-decade low and M2 growth below expectations. Dive deeper
Italy posted a trade surplus of EUR 2.48 billion in April 2025, down from last year and below expectations. Imports rose sharply, led by pharmaceutical and energy-related products, while exports saw only modest growth, with gains driven by EU markets and pharma goods. Dive deeper
Japan’s 10-year bond yield fell toward 1.4%, its lowest in nearly five weeks, as geopolitical tensions and trade policy risks boosted demand for safe-haven assets. The drop came despite the Bank of Japan signaling potential rate hikes if inflation trends hold. Dive deeper
European natural gas futures climbed nearly 5% to over €38/MWh, driven by escalating Middle East tensions and rising energy demand. Lower wind power output, potential French nuclear issues, and unseasonably hot weather added to supply concerns. Dive deeper
Germany’s wholesale prices rose 0.4% year-on-year in May 2025, easing from April’s 0.8% increase, with strong gains in food and metal prices. Items like coffee, sugar, and non-ferrous metals saw sharp rises, while energy and tech-related products declined. Month-on-month, prices dipped 0.3%. Dive deeper
Ford CEO Jim Farley told Bloomberg News that the company is facing challenges in securing a stable supply of rare earth magnets. These materials are critical for electric vehicle components, and supply issues could impact production. Dive deeper
Several global airlines have temporarily suspended or adjusted routes to parts of the Middle East following recent geopolitical developments. Flights to Tel Aviv, Tehran, Beirut, and Amman are among those impacted. Some carriers are also rerouting to avoid regional airspace. Dive deeper
U.S. Steel’s planned acquisition by Nippon Steel remains uncertain as Trump signaled the U.S. would retain majority control, calling for a “golden share.” The deal, first announced in 2023, continues to face political resistance and structural ambiguity. Dive deeper
Foxconn has sharply increased iPhone exports from India to the US, with nearly 97% of shipments between March and May headed there, up from 50% in 2024. The shift reflects Apple’s effort to reduce reliance on China amid rising US tariffs. May exports alone neared $1 billion. 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.
Finance Ministry on the continuation of Central schemes and funding rules
“Every scheme should have a sunset date.”
“The evaluation report for the scheme shows positive outcomes… and it has been effective in achieving its set objectives.”
“The total sanctions over the Finance Commission (FC) cycle must not exceed the approved outlay.” - Link
Masahiro Kihara, CEO, Mizuho Financial Group, on India’s role in the bank’s global strategy
“The future of India is very promising. From a demographic perspective, you have a lot of advantages. Besides wages, the working-age population is still increasing, which is totally opposite from Japan. You have a stable democratic framework with robust digital infrastructure.”
“In November 2023, we increased our capital base to $500 million, so that our Indian operation can extend more lending.”
“We have around 600 people and we want to double that in two or three years and move in more and more operations here in India because India has a talent pool.” - Link
Sarah Friar, CFO, OpenAI, on continuing partnership with Scale AI after Meta deal
“We don’t want to ice the ecosystem because acquisitions are going to happen. And if we ice each other out, I think we’re actually going to slow the pace of innovation.”
“We don’t just buy from Scale. We work with many vendors on the data front.”
“As models have gotten smarter, you’re going into a place where you need real expertise… we have academics and experts telling us that they are finding novel things in their space.”- 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:
What’s your view for tomorrow’s market move?
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- Flat
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