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, down 12 points at 24,607, and traded within a narrow 50-point range between 24,620 and 24,670, oscillating more than seven times during the session. The index struggled to sustain levels above 24,650 and held steady near 24,620 for most of the day, eventually closing flat at 24,631.30, up 0.05%.
Market sentiment remained fragile amid escalating tariffs, persistent FII outflows, and muted earnings reactions. Investors are closely watching the intensifying U.S.-India trade tensions, along with the upcoming Trump-Putin meeting this weekend, which are likely to influence near-term market direction.
Broader Market Performance:
Broader markets had a weak session today. Of the 3,046 stocks traded on the NSE, 1,152 advanced, 1,784 declined, and 110 remained unchanged.
Sectoral Performance
Nifty Consumer Durables was the top gainer, rising 0.75%, followed by Nifty IT and Nifty Service, which gained 0.40% and 0.33% respectively. On the losing side, Nifty Metal was the worst performer, slipping 1.39%, followed by Nifty Energy and Nifty Realty, which declined 0.78% and 0.76% respectively. Out of the 13 sectoral indices, 6 closed in the green while 6 ended in the red, reflecting a mixed trend across sectors.
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 21st August:
- The maximum Call Open Interest (OI) is observed at 25,000, followed closely by 24,700, suggesting strong resistance at 24,700 - 24,800 levels.
- The maximum Put Open Interest (OI) is observed at 24,600, followed closely by 24,500, suggesting strong support at 24,500 to 24,400 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
India’s wholesale prices fell 0.58% YoY in July 2025, the steepest drop in a year, driven by a 2.15% fall in food prices, especially onions, potatoes, and vegetables. Fuel prices also declined, while manufacturing inflation rose to a three-month high of 2.05%. Dive deeper
SEBI has proposed major changes to the 1992 Stock Broker Regulations to simplify rules, reduce compliance costs, and improve investor protection. The draft covers updated definitions, governance norms, broker obligations, and fee structures. Feedback is open until September 3, 2025. Dive deeper
Samvardhana Motherson’s Q1 FY26 PAT dropped 40% YoY to Rs 872 crore, while revenue rose 3% to Rs 30,212 crore. Profitability was impacted by European headwinds, start-up expenses, and integration costs, with minimal US tariff impact. Three greenfields began operations, and two new partnerships were announced. Dive deeper
SEBI banned DHFL’s ex-promoters Kapil and Dheeraj Wadhawan and four others for up to five years, fining them ₹120 crore for fund diversion and falsifying records, and barred them from key roles in listed firms. Dive deeper
Ola Electric is set to unveil a new addition to its scooter lineup at its Aug. 15 event, hinting at a sportier model with advanced features. Dive deeper
Manipal Hospitals will set up a 350-bed multi-speciality facility in Nagpur with a ₹700 crore investment, expected to open in 2029 and create around 3,000 jobs. The Maharashtra government will assist with permits, approvals, and incentives. Dive deeper
ICICI Bank cut its minimum balance for metro and urban customers to ₹15,000 from ₹50,000 after backlash, also lowering limits for semi-urban and rural accounts. Exemptions remain for salary accounts, senior citizens, pensioners, and select others. Dive deeper
A special audit found Yes Bank may have indirectly funded Suraksha ARC’s ₹518 crore purchase of its bad loan by lending to a linked company weeks before the sale. The deal lacked competitive bidding or independent valuation, raising concerns of preferential treatment. Dive deeper
SEBI has allowed investment advisers and research analysts to meet their mandatory deposit requirements using units of liquid or overnight mutual funds, in addition to scheduled bank deposits. The deposits will be marked as a lien in favour of the respective supervisory body, with compliance required by September 30. Dive deeper
SBI will levy charges on online IMPS transfers above ₹25,000 from August 15, ranging from ₹2 to ₹10 plus GST based on the amount. Salary package accounts and certain current accounts will continue to get waivers, with corporate account charges effective September 8. Dive deeper
Dish TV India’s Q1 net loss rose to Rs 95 crore from Rs 2 crore a year ago, with revenue down 28% to Rs 329 crore and EBITDA falling 56% to Rs 73 crore. Subscription income declined 11% amid competition, inflation, and a licence fee dispute. The company aims to grow through hybrid and connected offerings, supported by OTT platforms Watcho and FLIQS. Dive deeper
Brigade Enterprises’ Q1 FY26 profit rose 79% YoY to ₹150 crore, with total income at ₹1,333 crore driven by strong residential sales, leasing, and hospitality growth. Real estate revenue grew 22%, leasing revenue 15%, and hospitality revenue 19%. Dive deeper
Ashok Leyland’s Q1 FY26 net profit rose 13% YoY to ₹594 crore, with revenue up 1.5% to ₹8,725 crore and EBITDA up 6% to ₹970 crore. Margins improved to 11.1% from 10.6% a year earlier. Dive deeper
Singapore’s tax authority has fined Infosys 97,035 Singapore dollars (over ₹66 lakh) for GST payment related to April–June 2025. Infosys said the penalty will have no material impact on its financials or operations. Dive deeper
JSW Cement listed at a 4% premium to its ₹147 IPO price, opening at ₹153.5 on NSE and ₹153 on BSE. The ₹3,600 crore IPO included a ₹1,600 crore fresh issue and a ₹2,000 crore OFS, and was subscribed 7.77 times. Dive deeper
Muthoot Finance’s Q1 FY26 net profit rose 65% YoY to ₹1,974 crore, with consolidated loan AUM hitting a record ₹1.34 lakh crore, up 37%. Standalone PAT jumped 90% to ₹2,046 crore, driven by strong growth in gold loan assets. Dive deeper
Borosil’s Q1 FY26 net profit rose 87% YoY to ₹17.41 crore, with revenue up 5.2% to ₹232.68 crore and EBITDA up 12% to ₹37.32 crore. Margins improved to 16% from 15.1% a year earlier. Dive deeper
What’s happening globally
Brent crude rose to about $65.8 per barrel, pausing a two-day drop on geopolitical risks ahead of US-Russia talks over the Ukraine war. Gains were limited by oversupply concerns after the IEA projected a record surplus in 2026, and US crude stocks rose unexpectedly last week. Dive deeper
US producer prices are forecast to rise 0.2% in July 2025, with core PPI also up 0.2% after flat readings in June. Annual headline inflation is seen at 2.5% and core at 2.9%, with tariff-related price pressures expected to remain limited. Dive deeper
The US average 30-year fixed mortgage rate fell 10 bps to 6.67% in the week ending August 8, the lowest in four months, boosting total mortgage applications 10.9%. Average loan size rose to $366,400, while ARM applications jumped 25% to their highest since 2022, making up nearly 10% of all applications. Dive deeper
The US 10-year Treasury yield fell to 4.22% as softer inflation and cooling labor data fueled expectations of Fed rate cuts, possibly starting with a 50-bps move in September. Treasury Secretary Scott Bessent also backed multiple cuts. Markets now await July PPI and weekly jobless claims for policy cues. Dive deeper
The UK economy grew 0.3% qoq in Q2 2025, slowing from 0.7% in Q1 but beating the 0.1% forecast. Growth was led by services and construction, while production fell. Government spending and exports supported output, though business investment dropped 4%. Dive deeper
The yen rose to around 146.5 per dollar, a three-week high, as expectations of US rate cuts and dovish signals from Treasury Secretary Scott Bessent pressured the greenback. Softer US data reinforced the outlook, while the BOJ remains cautious with inflation still below its 2% target. Dive deeper
Russia’s GDP grew 1.1% in Q2 2025, down from 4% a year earlier, as high interest rates and cooling activity raise recession risks. Growth has slowed from last year’s defence spending boost, with forecasts now at 1-2% for 2025. Dive deeper
Birkenstock beat Q3 profit estimates as strong full-price demand for its footwear lifted gross margin to 60.5%, despite a weaker dollar and new US tariffs. Revenue was €635 million, in line with forecasts, and adjusted EPS was €0.62 versus €0.60 expected. Dive deeper
Foxconn’s Q2 profit rose 27% to T$44.4 billion, beating estimates, on over 170% YoY growth in AI server sales. It expects strong Q3 revenue but flagged tariff and currency risks. Capital spending will rise over 20% to boost US server production, while EV plans progress. 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.
Jayen Mehta, MD, Amul on US tariffs, dairy strategy, and diversification
“The US calls India the ‘tariff king,’ but it charges 40% to 75% import duty on various dairy products, far higher than India’s 30%.”
“My order books in the US remain steady despite new tariffs, with even higher demand ahead of the festive season.”
“We are leveraging whey for high-protein products, bio-ethanol, and other value-added goods, and will launch perfumes and food sprays by Diwali as part of a circular economy model.” - Link
Pieter Elbers, CEO, IndiGo, on resuming India-China direct flights
“IndiGo operated daily flights between India and China prior to the Covid-19 pandemic and stands ready to resume these services as soon as bilateral arrangements allow.”
“Guided by its entrepreneurial spirit, IndiGo remains committed to identifying and pursuing commercially viable opportunities.”
“We are prepared to restart operations on short notice once government approvals are in place.” - Link
Yang Yuanqing, CEO, Lenovo on tariffs and AI growth
“The tariff impact is very limited now, and we have navigated the challenges smoothly through our global manufacturing network.”
“Specifics on affected products and exemptions are still unclear, but we will not face disadvantages compared to competitors.”
“With tariff concerns easing, we are focusing on driving growth through our AI strategy.” - 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.
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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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