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 at the day’s high of 25,160.10 and slipped to 25077.15 after the initial surge, trading in a narrow band around the 25,100 mark through the session. It closed at 25,103.20, up 0.4%, marking its highest closing level of 2025.
The day’s gains followed supportive policy cues from the RBI last week, including a sharper-than-expected rate and CRR cut. Positive signals from U.S.-India trade talks and steady global markets also helped. Investors are now looking ahead to U.S. inflation data on Wednesday for clues on what the Fed might do next.
Broader Market Performance:
Broader markets stayed strong today. Of the 3,055 stocks traded on the NSE, 2,066 advanced, 904 declined, and 85 remained unchanged.
Sectoral Performance:
Nifty PSU Bank led the gains with a 1.52% rise, followed by Nifty Energy and IT. Most sectors ended higher, reflecting broad market strength. Nifty Realty was the sole loser, slipping 0.14%.
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 maximum Call Open Interest (OI) is observed at 25,100, with significant additions also seen at 25,200 and 25,400, pointing to strong resistance around the 25,100 - 25,400 zone.
The maximum Put Open Interest (OI) change is observed at 25,000, with notable additions at 24,800, suggesting strong support in the 24,800 - 25,000 range.
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
Infosys has launched a new TechFin hub at GIFT City, Gandhinagar, to serve global BFSI clients. The centre will focus on digital banking, regulatory affairs, and more, using technologies like AI and blockchain. It’s designed for over 1,000 employees and aims to boost India’s FinTech presence. Dive deeper
Bad loan provisioning rose in the March 2025 quarter, led by private banks facing stress in microfinance loans. Out of 29 banks, 22 saw a year-on-year increase, with private bank provisions up 26.4%. Dive deeper
Afcons Infrastructure received a ₹700 crore work order from Reliance Industries for construction works at its Vinyl Projects in Dahej. The contract includes civil, mechanical, and commissioning works. Dive deeper
Reliance and Shein plan to expand their Indian supplier base to 1,000 and start exporting India-made Shein apparel to the US and UK within 6-12 months. The partnership will follow Shein’s on-demand manufacturing model. Reliance will support suppliers with fabric sourcing and machinery upgrades. Dive deeper
E-commerce platforms have been given three months to remove deceptive dark patterns and conduct self-audits. A joint working group will monitor violations and raise consumer awareness. Platforms are also encouraged to submit self-declarations to ensure fair practices. Dive deeper
The National Company Law Appellate Tribunal has dismissed Byju’s Resolution Professional’s plea challenging the National Company Law Tribunal’s (NCLT) interim order to maintain the status quo in Aakash Educational Services. It termed the NCLT order as consensual and interlocutory, not warranting interference. Dive deeper
LIC has named Sat Pal Bhanoo as interim CEO and MD for three months starting June 8, following Siddhartha Mohanty’s retirement. A permanent appointment is expected by September. Dive deeper
Infosys announced the closure of ₹32,403 crore GST proceedings for FY19–FY22 after receiving communication from DGGI. The case involved IGST under the Reverse Charge Mechanism. Dive deeper
RailTel has secured two government orders worth ₹258.96 crore - ₹243 crore from Bihar for student kits and ₹15.96 crore from Himachal Pradesh for UPS systems and printers. Both are domestic supply contracts with execution deadlines in August and October 2025. Dive deeper
Garden Reach Shipbuilders signed MoUs in Sweden and Denmark to expand into marine propulsion systems and expedition cruise vessels. The partnerships aim to boost GRSE’s global marine engineering presence. Dive deeper
Kalpataru Projects secured two orders worth ₹3,789 crore. It’s the largest-ever B&F contract in India and a power transmission project overseas. The company highlighted the wins as a testament to its EPC capabilities. Dive deeper
Starlink has received a licence from India’s Telecom Ministry to launch satellite internet services, joining OneWeb and Jio’s satellite unit. The service may roll out within 12 months at ₹3,000 per month, with an upfront hardware cost of ₹ 33,000, targeting rural areas with limited connectivity. Further regulatory clearances are still awaited. Dive deeper
IEX recorded a 14% year-on-year increase in electricity volumes and a 65% rise in REC trades for May. The Real-Time Market hit a record high, while overall trading activity remained strong. Market participation continues to expand across segments. Dive deeper
Rapido is set to enter India’s online food delivery market, aiming to undercut Swiggy and Zomato by offering restaurants lower commission rates of 8–15%. It has partnered with NRAI and plans a dry run in Bengaluru by late June or early July. Fixed delivery fees will range from ₹25 to ₹50 based on order value. Dive deeper
What’s happening globally
Brent crude hovered around $66.5, holding recent gains amid optimism over US-China trade talks and a resilient US jobs report. Geopolitical tensions also supported prices, as renewed hostilities between Russia and Ukraine raised supply concerns. Dive deeper
Gold held steady around $3,310 per ounce as markets awaited US-China trade talks and digested a strong US jobs report, which eased recession fears and rate cut expectations. Dive deeper
Iron ore futures hovered around CNY 705 amid weak Chinese trade data and soft domestic demand. May exports and imports fell short of forecasts, while deflation persisted. US-China trade talks resume today, but hopes for a breakthrough remain limited. Dive deeper
Taiwan’s trade surplus hit a record $12.62 billion in May 2025, driven by a 38.6% surge in exports, especially in tech and electronic goods. Imports rose 25%, led by strong demand for tech components, despite declines in mineral and chemical imports. The year-to-date surplus rose 38.3% to $43.45 billion. Dive deeper
The euro rose above $1.14, nearing its recent six-week high, as markets tracked US-China trade talks and awaited ECB speeches for policy cues. The ECB cut rates by 25 bps last week and lowered inflation forecasts but hinted at a possible pause in further easing. Dive deeper
China’s consumer prices fell 0.1% YoY in May 2025, marking the fourth straight month of deflation amid weak demand and trade risks. Food prices declined further, while core inflation rose to 0.6%, the highest since January. Monthly CPI fell 0.2%, reversing April’s slight gain. Dive deepe
China’s exports rose 4.8% YoY in May 2025 to $316.1 billion, missing expectations and marking the slowest growth in three months. Exports to the US plunged 34.5%, while shipments to the EU, ASEAN, and Australia grew. Rare-earth exports surged 23% ahead of US-China trade talks in London. Dive deeper
Westinghouse is in talks with U.S. officials and partners to deploy 10 large nuclear reactors, following President Trump’s executive orders to fast-track approvals. The company says it’s well-positioned due to its approved reactor design and recent project experience. Dive deeper
Meta is reportedly in talks to invest over $10 billion in Scale AI, a data labeling startup already backed by Nvidia and Amazon. While terms are not finalized, the move would deepen Meta’s AI push. Dive deeper
L’Oreal has agreed to acquire a majority stake in British skincare brand Medik8, valuing the company at around €1 billion. The move strengthens L’Oreal’s luxury portfolio in the dermatological skincare segment. Inflexion will retain a minority stake, with L’Oreal holding rights to a full buyout. Dive deeper
Big institutional investors are reducing exposure to US markets amid rising debt, unpredictable trade policy, and diminishing belief in US exceptionalism. Fund managers are shifting allocations towards Europe, citing greater stability and growth prospects. 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.
Vinod Bahety, CEO, Ambuja Cements, on growth strategy and infrastructure contribution
“We contribute nearly 30% of the cement used in India’s homes and infrastructure. This growth is driven by both legacy and innovation.”
“Our target is to reach 140 MTPA capacity by FY28, with 118 MTPA by FY26 through brownfield expansion and timely acquisitions.”
“We’ve reduced logistics costs by 6% so far and aim for a further 15% cut by FY30 by using seaborne transport and strategic freight systems.”- Link
Abhijit Roy, CEO, Berger Paints, on housing recovery and paint demand outlook
“RBI’s rate cuts and income tax reliefs will ease housing finance and improve sentiment, which should support home buying.”
“Paint demand usually picks up with a lag after housing improves, so the benefits may take some time to reflect.”
“We’re expanding aggressively over 8,000 tinting machines installed last year helped boost our market share despite strong competition.” - Link
Adwaita Nayar, CEO, Nykaa Fashion & Co-founder, Nykaa on profitability and next growth phase
“We see margin growth beyond the 6% level, led by a steady beauty business and improving contributions from fashion and superstore.”
“Nykaa Fashion clocked ₹4,000 crore GMV in FY25 and improved Ebitda by 200 bps to 8%, the turnaround is clearly in motion.”
“Our House of Brands strategy is a key margin driver, with private labels offering gross margins of 65 - 80%.” - 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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