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.
In our latest episode of In The Money by Zerodha video series**,** Sandeep breaks down a strong comeback from the bulls! With easing global tensions and festive cheer in the air, benchmark indices logged solid gains for the second straight week — setting a positive tone as we head closer to Diwali.
Market Overview
Nifty opened with a 108-point gap down at 25,177, tracking weak global cues amid renewed U.S.-China trade tensions. The index slipped further in early trade but found support near the 25,150 zone. Through the first half, markets remained range-bound, with a mildly negative bias, as traders remained cautious.
In the second half, Nifty recovered some of its losses. The index gradually moved higher, testing the 25,260 mark before stabilizing in late trade. The Nifty eventually closed at 25,227.35, down just 0.22%, as buying at lower levels offset pressure from global uncertainty.
Market sentiment has once again turned optimistic on demand revival following GST cuts, despite the cautious sentiment prevailing on the global trade front with high tariffs from the U.S. Going forward, investors will closely track quarterly results, festival season sales, and management commentary on demand trends across various industries.
Broader Market Performance:
Broader markets had a weak session today. Of the 3,201 stocks traded on the NSE, 1,116 advanced, 1,971 declined, and 114 remained unchanged.
Sectoral Performance
The top-gaining sector was Nifty PSU Bank, up 0.24%, while the biggest loser was Nifty FMCG, down 0.90%. Out of the 12 sectoral indices, only 4 sectors closed in the green, while 8 ended in the red, indicating a broadly negative market sentiment for the day.
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 14th October:
- The maximum Call Open Interest (OI) is observed at 25,300, followed by 25,500, indicating potential resistance at the 25,300 -25,400 levels.
- The maximum Put Open Interest (OI) is observed at 25,200, followed by 25,000, suggesting strong support at 25,200 to 25,100 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 consumer inflation eased to 1.54% in September, the lowest since June 2017 and below the RBI’s 2% lower tolerance limit. The drop was led by a 2.28% fall in food prices, while housing and miscellaneous categories saw mild upticks. Dive deeper
Avenue Supermarts’ Q2FY26 net profit rose 4% year-on-year to ₹685 crore, while revenue grew 15% to ₹16,676 crore. Margins dipped slightly as GST benefits were passed to customers, and eight new stores were added, bringing the total to 432. Dive deeper
Tata Capital made a muted market debut on Monday, listing with a 1.4% gain.
The stock traded between ₹326 and ₹333 before closing at ₹331.1 on the NSE.
Priced at ₹326 per share, its ₹15,512-crore IPO was the largest of the year. Dive deeper
NTPC Green Energy Ltd. signed a Memorandum of Understanding (MoU) with Japan’s ENEOS to explore supplying green methanol and hydrogen derivative products, anchored around its 1,200-acre Pudimadaka Green Hydrogen Hub in Andhra Pradesh. Dive deeper
Vodafone Idea shares slid 2% after the Supreme Court put off hearing its plea against the government’s additional AGR demand to October 27, prolonging legal uncertainty over its large liabilities. Dive deeper
MapmyIndia shares jumped after Railway Minister Ashwini Vaishnaw praised its Mappls app and announced plans for an MoU with Indian Railways. The minister highlighted the app’s advanced navigation features and urged public adoption of the homegrown alternative to Google Maps. Dive deeper
Rural India now accounts for about 80% of NBFCs’ microfinance business, the highest since 2011, as lenders shift focus from urban markets due to stronger repayment rates and reduced delinquencies in rural areas. Dive deeper
The Reserve Bank of India appointed Sanjay Kumar Hansda and Sonali Sen Gupta as Executive Directors. Hansda will oversee the Department of Economic and Policy Research, while Gupta will handle consumer education, financial inclusion, and inspection. Dive deeper
What’s happening globally
WTI crude rose to $59.5 per barrel, rebounding from a five-month low amid easing US–China trade tensions after softer comments from President Trump. Gains were capped by rising OPEC+ output and reduced Middle East risks following the Israel-Hamas ceasefire. Dive deeper
Gold hit a record high of $4,070 per ounce on Monday, supported by safe-haven demand amid renewed US–China trade tensions, global uncertainties, and expectations of further Fed rate cuts. Dive deeper
European shares held steady after Friday’s sharp selloff, as investors digested renewed optimism over U.S. tariff talk, putting the STOXX 600 modestly in the green for the session. Dive deeper
Germany’s wholesale prices rose 1.2% year-on-year in September, the fastest pace since March and the 10th straight monthly increase, led by higher food and metal costs. On a monthly basis, prices climbed 0.2%, rebounding from a 0.6% drop in August. Dive deeper
China’s exports rose 8.3% year-on-year in September to USD 328.6 billion, the fastest growth since March and above forecasts. Gains were broad-based across Asia and Europe, while shipments to the US plunged 27% amid ongoing trade tensions. 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.
Anand Kulkarni, Director, Crisil Ratings, on the fertiliser sector outlook for FY25
“Fertiliser industry growth is expected to moderate to 2-4% in FY25 from 9% last year, mainly due to restricted DAP imports following China’s export curbs.”
“DAP imports, which form about 30% of complex fertiliser volumes, have been hit by geopolitical disruptions, while NPK fertilisers are likely to grow 4-6% this year.”
“Government measures, including long-term supply deals with Saudi Arabia and timely subsidy support, will help stabilise availability as DAP supply gradually normalises in the second half of FY25.” Link
Prime Minister Narendra Modi and Dario Amodei, CEO of Anthropic, on AI collaboration and India expansion
“Glad to meet you. India’s vibrant tech ecosystem and talented youth are driving AI innovation that is human-centric and responsible.”
“We welcome Anthropic’s expansion and look forward to working together to harness AI for growth across key sectors.” - Link
Torbjorn Caesar, Chairman, Actis on India’s investment appeal and infrastructure focus
“India is one of the best places in the world to deploy capital, stable, transparent, and rich in infrastructure opportunities.”
“We plan to invest over $2 billion in India’s infrastructure over the next three to four years, expanding into areas like digital infrastructure and renewables.”
“Despite global geopolitical shifts, India’s fundamentals remain strong, and rising risks elsewhere only make the country more attractive for long-term investors.” - 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.
So, we’re now on Reddit!
We love engaging with the perspectives of readers like you. So we asked ourselves - why not make a proper free-for-all forum where people can engage with us and each other? And what’s a better, nerdier place to do that than Reddit?
So, do join us on the subreddit, chat all things markets and finance, tell us what you like about our content, and where we can improve! Here’s the link — alternatively, you can search r/marketsbyzerodha on Reddit.
See you there!
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!