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.
Introducing In The Money by Zerodha
This newsletter and YouTube channel aren’t about hot tips or chasing the next big trade. It’s about understanding the markets, what’s happening, why it’s happening, and how to sidestep the mistakes that derail most traders. Clear explanations, practical insights, and a simple goal: to help you navigate the markets smarter.
Market Overview
Nifty opened with a gap down of nearly 70 points at 24,900 amid weak global cues. It quickly slipped to around 24,825 and remained volatile through the morning, moving in a narrow range of 24,760–24,820.
Despite multiple recovery attempts, the index struggled to gain momentum and faced persistent selling. Post 2 PM, fresh pressure dragged Nifty to an intraday low near 24,700. It eventually closed near the day’s low at 24,712.05, down 1.02%, as concerns mounted ahead of the proposed 50% tariffs on exports to the US.
Market sentiment remains fragile. While last week’s GST cut announcement sparked hopes of a consumption boost ahead of the festive season, worries around escalating tariffs, FII outflows, and muted earnings continue to weigh. Investors are also tracking worsening U.S.-India trade tensions and the ongoing U.S.-Russia dialogue on Ukraine, both of which are expected to influence near-term market direction.
Broader Market Performance:
Broader markets had an extremely weak session today. Of the 3,086 stocks traded on the NSE, 728 advanced, 2,280 declined, and 78 remained unchanged.
Sectoral Performance
Among the sectoral indices, Nifty FMCG was the top gainer, rising 0.91%, while Nifty Realty was the top loser, plunging 2.24%. Out of the 12 sectors listed, only 1 sector closed in the green, while the remaining 11 sectors ended in the red, reflecting a broad-based market decline led by selling in PSU banks, consumer durables, and metals.
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 28th August:
- The maximum Call Open Interest (OI) is observed at 25,000, followed closely by 24,800, suggesting strong resistance at 24,800 - 24,900 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 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
Vodafone Idea shares dropped over 9 % after officials said no additional Adjusted Gross Revenue relief was forthcoming. Dive deeper
Vikram Solar’s stock debuted at around a 2 % premium to its IPO price; the stock closed higher by 7% at 356.40 Dive deeper
TCS agreed to lease 1.4 million sq ft in Bengaluru for 15 years at 360 Business Park, committing over ₹2,130 crore in rent with periodic escalations. Dive deeper
JSW Steel and Andhra Pradesh’s mineral corporation formed APJSW Pvt. Ltd. to develop the Konijedu Marlapadu iron‑ore project, investing about ₹1,075 crore and aiming to produce 1.3 million tpa of beneficiated ore. Dive deeper
SBI Card and Flipkart launched a co‑branded credit card that offers 7.5 % cashback on Myntra, 5 % on Flipkart/Shopsy/Cleartrip purchases (capped by quarterly limits), 4 % on partners like Zomato and Uber, 1 % on other spends, plus a fuel‑surcharge waiver. Dive deeper
Protean eGov Technologies’ shares rallied after it won a ₹1,160 crore UIDAI contract to set up and operate Aadhaar service centres in 188 districts. Dive deeper
United Breweries plans to invest ₹90 crore to add 0.4 million hectolitres of capacity at its Nizam Brewery in Telangana, boosting production of premium beers after securing regulatory approvals. Dive deeper
What’s happening globally
Donald Trump warned that if Beijing stops exporting rare‑earth magnets, the U.S. will slap 200% tariffs on Chinese goods, underscoring China’s near‑monopoly over these components and noting that U.S. imports have recently surged. Dive deeper
AT&T plans to purchase certain wireless spectrum licences from EchoStar for about $23 billion, bolstering its low‑ and mid‑band holdings across over 400 U.S. markets; EchoStar’s stock jumped more than 40% on the news, and the companies will also expand a network‑services partnership. Dive deeper
European stocks fell as investors assessed a potential no‑confidence vote on French Prime Minister François Bayrou’s budget and digested Donald Trump’s attempt to fire U.S. Fed governor Lisa Cook; France’s CAC 40 slid more than 2% before trimming losses, while broader markets were also down. Dive deeper
Trump dismissed Federal Reserve Governor Lisa Cook, accusing her of mortgage fraud; Cook denies the allegations, and legal experts question Trump’s authority to remove a Fed governor, warning that the move could politicize the central bank. Dive deeper
Japan’s 10-year bond yield climbed above 1.62%, its highest level since 2008 as traders priced in more rate hikes. BOJ Governor Kazuo Ueda signaled confidence in further tightening, citing rising wages and a tightening labour market during his Jackson Hole speech. Dive deeper
Gold prices rose to a two-week high near $3,370 per ounce amid rising political uncertainty after President Trump fired Fed Governor Lisa Cook, fueling investor demand for safe-haven assets. 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.
S C Ralhan, President of The Federation of Indian Export Organisations (FIEO), on US tariffs
Production has already halted in textile hubs like Tirupur, Noida, and Surat, while shrimp exporters, who rely on the US for 40% of sales, face stockpile losses and farmer distress. Leather, ceramics, chemicals, handicrafts, and carpets are also vulnerable - Link
Prime Minister Narendra Modi on India’s position amidst global supply chain issues in clean energy and clean mobility transition.
“Many global companies have increased their trust on India. Till a few years back, EV batteries were completely imported. The localisation of battery cells and electrodes will provide a good boost to India’s EV infrastructure,”
“While the world is struggling with supply chain issues, India is at a much better place. This clearly highlights our policy decisions since 2014. In the past decade, electronic production has jumped by 500%, mobile production has jumped by 2700%,” - Link
Toshihiro Suzuki, Representative Director and President of Suzuki Motor Corporation, on investment plans in India
“Suzuki will invest over Rs 70,000 crore in India, over the next 5 to 6 years,”
“Suzuki has proudly partnered in India’s mobility journey for over four decades. We remain committed to supporting India’s vision for sustainable green mobility and contributing to Viksit Bharat,” - 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.
Also reading Mind Over Markets by Varsity?
It goes out thrice a week, covering markets, personal finance, or the odd question you didn’t know you had. The Varsity team writes across three sections: Second Order , Side Notes , and Tell Me Why , thoughtfully put together without trying to be too clever.
Go check out Mind Over Markets by Zerodha Varsity 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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