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 a 70-point gap-down at 24,596 but quickly recovered to fill the gap, reaching near 24,660 within the first 20 minutes. However, the index slipped again, falling by 100 points to test the 24,550 level, all within the first hour. Post that, Nifty gradually moved higher, crossing 24,700 around 12:45 PM and remaining above that mark for most of the second half. It eventually closed near the day’s high at 24,722.75, up by 0.64%.
Overall sentiment remained cautious due to weak global cues, continued FII outflows, and muted reactions to earnings. Investors are now focused on upcoming corporate results and India’s potential response to US tariffs, with trade developments likely to influence near-term market direction.
Broader Market Performance:
Broader markets bounced back strongly today. Of the 3,093 stocks traded on the NSE, 1,828 advanced, 1,166 declined, and 99 remained unchanged.
Sectoral Performance
Nifty Metal was the top-gaining sector, rallying 2.48%, followed by Nifty Realty and Nifty Auto, which rose 1.77% and 1.61% respectively. On the other hand, Nifty FMCG was the only sector to close in the red, slipping 0.10%, making it the worst performer of the day. Out of the 12 sectoral indices, 11 ended in the green while only 1 closed lower, reflecting broad-based market strength.
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 7th August:
- The maximum Call Open Interest (OI) is observed at 25,000, followed closely by 24,800, suggesting strong resistance at 24,900 - 25,000 levels.
- The maximum Put Open Interest (OI) is observed at 24,600, followed closely by 24,500, suggesting strong support at 24,600 to 24,500 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
The Indian rupee fell past 87.7 per USD in August, its weakest since February, amid US tariffs, trade tensions, and a dovish RBI. Inflation dropped to 2.1%, prompting expectations of further rate cuts, while political tensions rose over India’s energy trade with Russia. Dive deeper
The RBI’s Monetary Policy Committee began its three-day meeting on August 4, with the outcome to be announced on August 6 at 10 AM. The review comes after recent rate reductions and against the backdrop of global trade tensions and low inflation. Dive deeper
Indian Oil Corporation bought seven million barrels of crude for September delivery from the US, Canada, and West Asia, partly replacing Russian supplies amid narrowing discounts. The purchases included 4.5 million barrels of US crude, 500,000 barrels of Canadian WCS, and two million barrels of Abu Dhabi’s Das oil. Dive deeper
FPIs invested ₹14,247 crore in the Indian primary market in July, the highest in seven months, driven by strong IPO activity with 13 issues raising ₹16,127 crore. However, net selling in the secondary market led to an overall outflow of ₹17,740 crore for the month. Dive deeper
JSW Steel and Japan’s JFE Steel will invest ₹58.45 billion to expand cold-rolled grain-oriented electrical steel capacity in India. Output at the Nashik plant will rise to 2,50,000 TPA and the Vijayanagar facility to 1,00,000 TPA, with commissioning in phases from FY 2028. Dive deeper
Adani Power’s board approved a 1:5 stock split, reducing the face value of each share from ₹10 to ₹2 to enhance retail participation. The announcement came alongside Q1 results showing a 15.5% drop in net profit to ₹3,305 crore and a 5.9% fall in revenue to ₹14,167 crore. Dive deeper
RailTel received an advance work order worth ₹166.38 crore from BSNL for service-based domestic contracts to be executed by July 31, 2028. The order was officially awarded on August 1 and involves no related party transactions. Dive deeper
Godrej Properties is planning its largest corporate bond issue, aiming to raise about ₹2,000 crore through three- to five-year bonds later this month. The AA+ rated issue will be the company’s first in nearly a year. Dive deeper
Manipal Hospitals has sought CCI approval to acquire Pune-based Sahyadri Hospitals from Ontario Teachers’ Pension Plan Board in a deal estimated at ₹6,200 - ₹6,400 crore. The acquisition will add 11 hospitals and over 1,400 beds, taking Manipal’s total capacity to about 12,000 beds across 49 hospitals. Dive deeper
Antfin, an Alibaba Group affiliate, will sell its entire 5.84% stake in Paytm’s parent for ₹3,800 crore via a bulk deal on Tuesday. The shares will be offered at ₹1,020 each, a 5.2% discount to the previous close. Dive deeper
Coal India has set a supply target of 900.24 MT for FY26, over 18% higher than last year, to meet rising power demand and cut imports. The company has earmarked ₹16,000 crore in capex for the year, focusing on production growth, infrastructure, and diversification into cleaner coal technologies and renewable projects. Dive deeper
Escorts Kubota reported a 40% rise in Q1 consolidated profit to ₹369.5 crore, while revenue from continuing operations fell 2.9% to ₹2,500.1 crore. Tractor sales were slightly higher at 30,581 units, while construction equipment sales declined to 1,055 units. Dive deeper
LTIMindtree has won the ₹792.5 crore contract to implement PAN 2.0, the government’s unified platform for all PAN and TAN-related services. The project, expected to go live in 18 months, will consolidate services from multiple portals and involve full infrastructure setup, data migration, and system integration. Dive deeper
Marico reported a 9% YoY rise in Q1 net profit to ₹504 crore, with revenue up 23% to ₹3,259 crore, driven by strong international growth and price-led gains in India. EBITDA rose 5% to ₹655 crore, though margins narrowed to 20.1% due to higher input costs. Dive deeper
IHCL announced plans to expand in the North East, where it currently has 15 hotels and six more in the pipeline, including its first ‘Taj Palace’ property in the region. Dive deeper
What’s happening globally
WTI crude eased to around $66.5 per barrel after OPEC+ confirmed a September output increase of 547,000 barrels per day, completing the rollback of earlier cuts. The decision added to expectations of higher supply, while weak US jobs data and potential sanctions on Russian oil kept markets cautious. Dive deeper
Gold eased to around $3,350 per ounce as investors booked profits after Friday’s rally, which was fueled by weak US jobs data and rising Fed rate cut expectations. Dive deeper
The Swiss franc slipped to around 0.81 per USD as fresh US tariffs of 39% on Swiss exports, effective August 7, overshadowed a slight rise in July inflation to 0.2%. Weak manufacturing data and subdued price growth kept expectations of further SNB rate cuts intact. Dive deeper
Turkey’s annual inflation eased to 33.52% in July, its lowest since November 2021 and below forecasts, marking the fourteenth straight month of slowdown. Price growth moderated across most categories, while core inflation fell to 34.70%. Monthly inflation rose 2.06%, remaining under expectations. Dive deeper
The US dollar index slipped below 99 after soft July jobs data boosted expectations for Fed rate cuts, with over 63 basis points of easing seen by year-end. Sentiment was also affected by President Trump’s dismissal of the US labor statistics chief and concerns over the impact of new tariffs. Dive deeper
BP reported its largest oil and gas discovery in 25 years at the Bumerangue block offshore Brazil. The find could significantly extend its production outlook, with further analysis planned to determine its commercial potential. Dive deeper
Foxconn will sell its former Lordstown car factory in Ohio for $375 million to an existing partner, including its machinery. The site will still be used for products tied to its strategic priorities, including AI data centers, with the capacity to resume automotive production if required. Dive deeper
BMW will launch the iX3 SUV as the first of 40 new or updated models under its Neue Klasse lineup, featuring longer range and faster charging to compete with Tesla. Production starts this year in Hungary, with global rollout by 2027, as BMW shifts toward making all-electric vehicles at key plants. 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.
Tuhin Kanta Pandey, SEBI Chair on Jane Street probe and derivatives market reforms
“I know these guys are brilliant mathematicians and PhDs, but we can have PhDs from our side. We are not constrained.”
“Manipulation is where you are artificially creating arbitrage.”
“The derivatives market needs some structural reforms.”
“We’ve always said this derivative market is important for us, there’s no way we will kill the market. You develop the market, you don’t kill it.” - Link
KVS Manian, Managing Director, Federal Bank, on MFI stress and growth outlook
“We saw the peak of our slippages in May. In June and July, we have seen a drop in slippages in micro finance.”
“We are more hopeful that things are now in place to push for growth. Mid-yielding assets are part of the strategy.”
“We expect a 20% to 25% growth in gold loans this fiscal.” - Link
Nick Hayek, CEO, Swatch Group, on US-Swiss trade tensions
“It’s not doomsday. Of course, a settlement can be reached. Why would Donald Trump say tariffs are coming on August 1 and not implement them until the 7th? The door is always open.”
“She (Swiss President Karin Keller-Sutter) should take the plane and go to Washington. That would increase the chances of a deal enormously.”
“We have three to six months of stock in the United States, which would help protect us from tariffs in the world’s largest market for Swiss watches.” - Link
Balram Garg, Managing Director, PC Jeweller, on debt reduction and outlook
“We have repaid bank loans worth Rs 335 crore during the April-July period of this fiscal year.”
“The company’s net debt had fallen to Rs 1,445 crore at the end of July, down from Rs 1,780 crore at the start of FY26.”
“We will become debt-free by the end of this fiscal year.” - 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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