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 an 80-point gap down at 24,733.95, following a weak close in U.S. markets. Selling pressure intensified after the open, with the index sliding to 24,550 in the first hour. It then consolidated between 24,550 and 24,625 until 1 PM, before making fresh intraday lows around 24,462. In the final hour, Nifty staged a strong 200-point recovery and eventually closed at 24,609.70, down 0.82%.
Today’s negative sentiment was driven by weak U.S. markets, higher bond yields, and a weaker rupee against the dollar. Rising macroeconomic uncertainty remains a concern. Investors are closely tracking updates on the India-U.S. trade deal, while the ongoing earnings season continues to guide near-term market direction.
Broader Market Performance:
Broader markets remained mixed today with a negative bias. Of the 2,949 stocks traded on the NSE, 1,275 advanced, 1,582 declined, and 92 remained unchanged.
Sectoral Performance:
Nifty Media was the top gainer, rising 1.11%, while Nifty FMCG was the top loser, declining by 1.44%. Out of the 12 sectoral indices, only one closed in the green, and the remaining 11 ended in the red, reflecting broad-based weakness across sectors.
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 29th May:
- The maximum Call Open Interest (OI) is observed at 25,000, followed closely by 24,800, suggesting strong resistance at these levels.
- The maximum Put Open Interest (OI) is observed at 24,500, followed closely by 24,600, suggesting strong support at 24,500 to 24,400 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 10-year Indian G-Sec yield fell below 6.25% in May, driven by India’s ceasefire with Pakistan, a series of RBI repo rate cuts, and favorable inflation data. This helped stabilize markets and boosted foreign inflows into Indian bonds. Dive deeper
The NSE has applied to SEBI to shift its weekly F&O expiry to Tuesday, aiming to align with BSE, which already follows this schedule. SEBI’s proposal to standardize expiry days across exchanges is under review. Dive deeper
As per the RBI Bulletin in May 2025, India is well-positioned to navigate global headwinds, with the IMF projecting it to remain the fastest-growing major economy. Easing inflation, strong domestic confidence, and a stable economic environment support optimistic growth prospects, strengthened by recent trade agreements and resilient domestic markets. Dive deeper
Honda Motorcycle & Scooter India (HMSI) plans to invest ₹920 crore in a new fourth assembly line at its Vithalapur plant in Gujarat, with production set to begin in 2028. The new line will increase the plant’s capacity to 2.61 million units, making it Honda’s largest motorcycle assembly plant globally. Dive deeper
Bajaj Auto plans to fully take over KTM through a €800 million funding, with €200 million already infused. This move, subject to regulatory approval, will transition Bajaj from a minority to a majority shareholder in the global KTM business. The funding will address KTM’s liquidity challenges and enable its debt restructuring. Dive deeper
Rail Vikas Nigam Limited reported a 4% YoY decline in Q4 net profit to Rs 459 crore, with revenue falling 4.3% to Rs 6,426.9 crore. EBITDA dropped 5% to Rs 432.9 crore, while the EBITDA margin slightly narrowed to 6.7% from 6.8% in the same period last year. The company recommended a final dividend of Rs 1.72 per equity share for FY25. Dive deeper
GRSE has emerged as the Lowest Bidder (L1) for the Indian Navy’s ₹25,000 crore Next Generation Corvettes project, securing five of the eight ships. This strengthens its position in India’s defence shipbuilding sector. However, a $21 million tugboat order from Bangladesh was canceled due to rising tensions. Dive deeper
IRDAI imposed a â‚ą1 crore penalty on Acko General Insurance for violating regulations regarding outsourcing and payments made in 2019-20 and 2020-21. The insurer breached Section 40(1) of the Insurance Act and failed to meet compliance standards. Dive deeper
Tata AIA Life Insurance declared a ₹1,842 crore bonus for FY25, marking a 26% increase from last year’s ₹1,465 crore. The bonus will benefit over 8.15 lakh policies under its participating insurance plans. Dive deeper
IndusInd Bank utilized its ₹1,325 crore contingency buffer in Q4 FY25 to address financial discrepancies, including accounting lapses in microfinance and derivative-related issues. The bank’s provisioning nearly tripled YoY to ₹2,522 crore, with total loans rising 1% YoY to ₹3.45 lakh crore. Dive deeper
IndiGo reported a 62% YoY growth in Q4FY25 consolidated net profit, reaching â‚ą3,067 crore. The company also declared a â‚ą10 per share dividend, subject to shareholder approval. Revenue from operations rose 24% YoY to â‚ą22,152 crore. Dive deeper
Adani-run Lokpriya Gopinath Bordoloi International Airport in Guwahati saw a 7.7% growth in FY25, handling 6.57 million passengers. It also achieved record international passenger footfall and a 183.9% rise in cargo, processing 12,893 metric tonnes. Dive deeper
IREDA has filed a petition with the Debt Recovery Tribunal against Gensol Engineering and Gensol EV Lease, claiming a default of â‚ą729 crore. IREDA seeks â‚ą510 crore from Gensol Engineering and â‚ą218.95 crore from its subsidiary. Dive deeper
What’s happening globally
Brent crude oil futures dipped below $64 per barrel, driven by OPEC+ discussions on a potential 411,000 barrels per day production increase for July and concerns over oversupply. Market sentiment worsened due to the US crude stockpile rise and a broader financial sell-off. Dive deeper
Gold prices rose to a near two-week high of $3,330 per ounce, marking a fourth consecutive session of gains. The rally was driven by growing concerns over the US fiscal outlook, geopolitical tensions, and strong demand from China, which saw a surge in gold imports. Dive deeper
The UK’s manufacturing sentiment worsened in May 2025, with the total order book balance falling to -30, down from -26 in April. Despite a slight improvement in export orders, output volumes declined sharply, and inflation expectations remained stable. Dive deeper
Germany’s Ifo Business Climate indicator rose to 87.5 in May 2025, driven by improved sentiment in manufacturing, services, and retail, although current conditions slightly declined. Business confidence in the food industry surged, while the chemical sector showed slight weakness. Dive deeper
Malaysia’s annual inflation rate remained at 1.4% in April 2025, with food prices rising the least in six months. Key categories such as housing, transport, and education saw cost increases, while clothing and communication prices continued to fall. Dive deeper
Japan’s core machinery orders surged 13% month-on-month to ¥1.01 trillion in March 2025, driven by strong demand in both manufacturing and non-manufacturing sectors. This marked the highest level in nearly 20 years, with notable gains in sectors like automobiles, transport equipment, and telecommunications. Year-over-year, orders rose 8.4%, exceeding expectations. Dive deeper
Chinese automaker BYD surpassed Tesla in European electric vehicle (EV) sales for the first time, selling 7,231 battery-powered EVs in April 2025, compared to Tesla’s 7,165 units. Dive deeper
OpenAI has acquired Jony Ive’s AI startup “io” in a $6.5 billion deal, marking its first move into the hardware market. The acquisition includes 55 engineers and will lead to the development of AI-powered products, with the first hardware set to release in 2026. 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.
Deepali Pant, Former Executive Director, RBI, on IndusInd Bank accounting irregularities
“This is a death knell, really, and I would have suspended and superseded the entire board.”
“Even if capital adequacy or asset quality is healthy, the issue is governance failure.”
“If people lose trust in private banks, there’s a risk of disintermediation—many players are waiting to step in.” - Link
S. Jaishankar, External Affairs Minister, India, on Terrorism, Kashmir, and Mediation with Pakistan
“We want a definitive end to terrorism. Our message is therefore: yes, the ceasefire has put an end to military actions against each other for now, but if the terrorist attacks from Pakistan continue, there will be consequences. The Pakistanis must understand that very well.”
“No, for us terrorism is an independent, completely unacceptable international crime that should not be condoned or justified.”
“No, it is a bilateral issue between the countries involved.” - Link
Christian Sewing, CEO, Deutsche Bank, on 2025 targets and strategic priorities
“We know how important 2025 is for us as a bank. It is the year of reckoning.”
“The bank is clearly on track to meet the goals” of <65% cost-to-income ratio and >10% return on tangible equity.
“We must finally deliver what we have been promising for years,” said shareholder Andreas Thomae, urging a shift toward more stable business lines. - 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?
- Positive
- Negative
- Flat
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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