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 25,514.60 and dropped sharply in the morning, touching a low of 25,472. It later recovered to hit a high of 25,548.70 in the afternoon before slipping again in the final hour, dragged by Reliance, to close near the day’s low at 25,476.10, down 0.18%.
Market sentiment stayed cautious amid uncertainty around the India-US trade deal, with the tariff deadline set for August 1. With Q1 earnings underway, early numbers are likely to shape the outlook. Global cues were mixed while domestic concerns around tariffs and commodities lingered.
Broader Market Performance:
Broader markets had a balanced session. Out of 3,030 stocks traded, 1,476 advanced, 1,453 declined, and 101 remained unchanged.
Sectoral Performance:
Nifty FMCG led the gains with a rise of 0.80%, followed by Consumer Durables up 0.48% and Auto up 0.38%. Pharma also closed slightly positive at 0.19%.
On the downside, Realty declined the most, falling 1.49%, followed by Metal down 1.40% and IT down 0.78%. PSU Bank, Media, Energy, and Services also ended in the red with marginal losses.
Note: The above numbers for Commodity futures were taken around 4 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 9th July:
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The maximum Call Open Interest (OI) is observed at 25,500, followed closely by 25,600 and 26000, indicating strong resistance in the 25,600– 25,700 range.
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The maximum Put Open Interest (OI) is observed at 25,500, followed by 25,400 and 25000, indicating strong support around the 25,300 – 25,400 zone.
Note: OI data can have multiple interpretations. However, typically, rising Call OI suggests resistance levels in a downtrend, while rising Put OI suggests support in an uptrend.
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
Viceroy Research flagged concerns over Vedanta Resources’ financial setup, noting related-party transactions, unrecognised dues, and high promoter pledges. It described Hindustan Zinc as both a core asset and a potential risk, raising questions around governance and financial transparency. Dive deeper
Reliance Jio Platforms has deferred its proposed IPO, with no timeline confirmed for a 2025 listing, according to sources. The company is focusing on growing its telecom and digital services, with no bankers appointed yet for the offering. Dive deeper
The RBI will conduct a ₹1 lakh crore two-day VRRR operation today to align short-term market rates within the LAF corridor. This follows a liquidity surplus and falling TREPS and WACR rates. The operation will be reversed on July 11. Dive deeper
Granules India is recalling over 33,000 bottles of Metoprolol Succinate extended-release tablets in the US due to failed dissolution specifications found during stability testing. The recall, classified as Class II by the USFDA, was initiated on June 24 through its US subsidiary. Dive deeper
BEL signed a turnkey contract with the Indian Navy for the NMDA project to upgrade maritime surveillance using AI-based systems. The project aims to enhance data sharing among maritime agencies. IMAC Gurugram will serve as the multi-agency coordination hub. Dive deeper
ICICI Prudential AMC has filed for a ₹10,000 crore IPO, structured entirely as an offer for sale by Prudential Corporation Holdings, with no fresh capital infusion into the company. Dive deeper
Textile stocks gained attention after the U.S. announced a 35% tariff on Bangladeshi imports, boosting sentiment for domestic players. The move is seen as potentially shifting global sourcing preferences. Dive deeper
TVS Industrial & Logistics Parks listed its InvIT, TVS Infrastructure Trust, on the NSE, raising over ₹1,300 crore through a mix of fresh issue and offer for sale. The portfolio spans 11 million sq. ft. across key logistics hubs. Dive deeper
WeWork India’s ₹4,000 crore IPO plan has moved forward as SEBI lifted the abeyance status on its draft offer. The IPO will be a pure offer for sale by Embassy Buildcon LLP and 1 Ariel Way Tenant. Final SEBI observations are awaited before launch. Dive deeper
Gujarat Pipavav Port reported flat container cargo volumes at 1.64 lakh TEUs in Q1, with a slight dip in rail-handled containers to 99,000 TEUs. Dry bulk remained steady, while liquid cargo rose to 0.41 million tonnes. The company handled 447 container trains during the quarter. Dive deeper
Zee shareholders have approved the appointments of Divya Karani as Independent Director and Saurav Adhikari as Non-Executive Director through a postal ballot concluded on July 8. Both bring decades of experience across media, technology, and consumer sectors. Dive deeper
Jane Street said SEBI’s order reflects a misunderstanding of standard hedging and arbitrage practices in index derivatives. It claimed full cooperation with regulators and denied any intent to manipulate markets. The firm defended its expiry-day activity as a normal liquidity provision. Dive deeper
What’s happening globally
WTI crude rose toward $69, hitting a two-week high on supply risk concerns and lower US output forecasts. Houthi attacks in the Red Sea and a revised EIA outlook boosted prices. However, rising US inventories and trade tension worries capped gains. Dive deeper
Gold fell below $3,290/oz, extending losses as the Fed’s less dovish tone outweighed trade tension fears. Trump’s new tariff plans added inflation concerns, reducing hopes for a July rate cut. Dive deeper
US copper futures eased to $5.5 after hitting a record $5.7, still up 10% from Monday on tariff news. Trump signaled a 50% tariff on copper, pushing the US price premium over LME to a record 25%. If imposed, the tariff could strain domestic supply due to low ore output and limited refining capacity. Dive deeper
Meta has acquired nearly a 3% stake in EssilorLuxottica, reportedly valued at around €3 billion, amid its broader push into AI-powered wearable tech. The move follows the success of Ray-Ban Meta smart glasses, with potential plans to raise its stake further. Both companies declined to comment on the deal. Dive deeper
Malaysia’s central bank cut interest rates by 25 bps to 2.75% in July 2025, the first cut in five years to support the slowing economy. Inflation has stayed low so far this year. GDP grew 4.4% in Q1, slightly down from 4.9% last quarter. Dive deeper
China’s consumer prices rose 0.1% YoY in June 2025, ending three months of decline and beating expectations. The rise was driven by shopping events, subsidies, and easing U.S. trade tensions. Core inflation hit a 14-month high at 0.7%, while food prices kept falling and monthly CPI dipped 0.1%. 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.
Vedanta Group on Viceroy Research report
“The report is a malicious combination of selective misinformation and baseless allegations aimed at discrediting the group.”
“The timing of the report is suspect and could be to undermine the forthcoming corporate initiatives.”
“Our stakeholders are discerning enough to understand such tactics.”
“The report contains only a compilation of publicly available information, taken out of context and presented in a misleading way to profit from the resulting reaction.”
“We remain focused on our business and growth plans and urge investors to avoid speculation and unsubstantiated claims.” - Link
Hema Budaraju, Vice President, Product Management, Search, Google
“Today, we’re excited to begin rolling out AI Mode to everyone in India, making it easier than ever to ask Google anything you’re curious about, get a helpful AI-powered response, and explore topics more deeply on the web.”
“The response has been encouraging, with people appreciating its speed and the quality of the responses.”
“Over the coming days, you’ll see a new tab for AI Mode appear in Search and in the search bar in the Google app, available in English.”
“You can type, use your voice, or even snap a photo with Lens to get a rich, comprehensive response with helpful links, and dig deeper with follow-up questions.” - 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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