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 gap up of 80 points near 24,950, buoyed by positive global cues after the Fed Chairman’s dovish rate cut hint at Jackson Hole. It briefly slipped to 24,910 in the opening minutes but steadily recovered through the morning.
In the early afternoon, Nifty crossed 25,000 and touched an intraday high slightly above 25,010. However, profit booking in the final hours dragged it back to the 24,940–24,950 range. A mild bounce was observed near the close, and the index ended at 24,967.75, up 0.39%, indicating hesitation around the 25,000 mark.
Market sentiment remains fragile. While there have been signs of recovery since last week, concerns linger over escalating tariffs, continued FII outflows, and muted earnings reactions. Investors are closely tracking the worsening U.S.-India trade tensions and ongoing U.S.-Russia discussions on the Ukraine conflict, both of which are expected to guide near-term market direction.
Broader Market Performance:
Broader markets had a mixed session today with a slightly bearish bias. Of the 3,111 stocks traded on the NSE, 1,412 advanced, 1,612 declined, and 87 remained unchanged.
Sectoral Performance
Among the sectoral indices, Nifty IT was the top gainer, rising 2.37%, while Nifty Media was the top loser, falling 1.67%. Out of the 12 sectors listed, seven sectors closed in the green and five sectors ended in the red, indicating a broadly positive market sentiment for the day, led by IT, realty, and metals.
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 28th August:
- The maximum Call Open Interest (OI) is observed at 25,000, followed closely by 25,200, suggesting strong resistance at 25,100 - 25,200 levels.
- The maximum Put Open Interest (OI) is observed at 25,000, followed closely by 24,900, suggesting strong support at 24,900 to 24,800 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 rupee fell to 87.43 per dollar on Monday, its third straight decline, as looming US tariffs of up to 50% pressured sentiment. Dive deeper
Shares of paper companies jumped 10–15% after the government imposed a Minimum Import Price (MIP) on Virgin Multi-layer Paper Board (VMPB), a key packaging material, to curb cheap imports and support domestic producers. Dive deeper
Reliance Industries completed a ₹45.3 crore deal to fully acquire Nauyaan Shipyard from Welspun Corp. Its subsidiary, Nauyaan Tradings, purchased the remaining 6.1% stake, making the shipyard a wholly owned step-down subsidiary. This marks the final leg of Reliance’s phased acquisition of the business. Dive deeper
Ola Electric shares rose after reports that Niti Aayog will hold talks with major two-wheeler makers to push electric motorcycles. While EV scooters already hold a sizable share, motorcycles have seen negligible adoption. Dive deeper
India is partnering with Germany’s ThyssenKrupp for submarine propulsion under Project 75-I and France’s Safran for engines in the Advanced Medium Combat Aircraft program. Together worth over $14 billion, these projects focus on indigenisation and technology transfer. The shift reflects India’s effort to reduce reliance on US suppliers amid geopolitical tensions. Dive deeper
The CBI searched Anil Ambani’s residence in connection with a ₹2,929 crore Reliance Communications fraud case. Ambani denied the allegations, citing his non-executive role at the time. Reliance Power and Reliance Infrastructure said the matter has no impact on their operations. Dive deeper
NCLAT upheld NCLT’s approval of Nuvoco Vistas’s ₹1,800 crore bid for Vadraj Cement, dismissing a plea by employees. The tribunal said the plan value exceeded fair value and provided for payouts to operational creditors. It found no illegality or inconsistency in the resolution plan. Dive deeper
Yes Bank shares rose after the RBI cleared Sumitomo Mitsui Banking Corporation’s plan to acquire up to 24.99% stake. The approval, valid for one year from August 22, allows SMBC to lift its holding to 20% through secondary market purchases. RBI clarified that SMBC will not be classified as a promoter. Dive deeper
Godrej Properties sold over ₹1,000 crore worth of homes at the launch of its Hyderabad project, Godrej Regal Pavilion. The project recorded sales of 683 units, covering 1.2 million sq ft, reflecting strong demand in the city’s real estate market. Dive deeper
RailTel secured a ₹13.16 crore order from the Rajasthan Skill & Livelihoods Development Corporation for project management consultancy services. The two-year contract runs from August 2025 to August 2027. The company said the order is part of its regular business operations. Dive deeper
Dream11’s parent company is quietly testing a new app under the Dreamsuite Finance brand. Early indications suggest it will cover areas like savings and gold-related products. The platform remains in pilot with no formal rollout yet. Dive deeper
Vodafone Idea shares extended gains after reports that the PMO is reviewing a relief package on AGR dues. The proposal reportedly includes a two-year moratorium extension, flexible repayment terms, and possible penalty waivers. The operator faces dues of about ₹83,400 crore. Dive deeper
What’s happening globally
WTI crude held near $64 on Monday as Ukraine’s drone strikes on Russian energy sites and Trump’s renewed tariff and sanction threats kept supply risks elevated. Sentiment was supported by Powell’s signal of possible US rate cuts, raising hopes of stronger demand. Dive deeper
Gold hovered near $3,360 as the dollar steadied post-Powell’s dovish remarks, with Russia-Ukraine tensions keeping safe-haven demand intact. Dive deeper
The dollar index edged back toward 98 on Monday after sliding nearly 1% Friday when Powell signaled possible rate cuts ahead. Markets now see a high chance of a September cut, with focus shifting to upcoming PCE inflation data for further cues. Dive deeper
European gas futures eased as Norwegian supply curbs looked less severe than feared, though maintenance will limit flows. Storage levels stand at 75.5%, below last year, with Germany lagging. Risks persist with Ukraine’s strikes on Russian energy assets and US sanction threats. Dive deeper
Germany’s ifo Business Climate Index rose to 89 in August, its highest since May 2024, with improved expectations but still-weak current conditions across sectors. Dive deeper
Turkey’s manufacturing confidence index rose to 100.6 in August, its highest since May, driven by stronger orders and business sentiment. However, outlook indicators for output, jobs, exports, and investment softened, pointing to caution ahead. Dive deeper
Singapore’s inflation eased to 0.6% in July 2025, its lowest since January 2021, driven by softer housing, health, and utilities costs. Core inflation also slipped to 0.5%, while consumer prices fell 0.4% month-on-month. Dive deeper
Porsche has scrapped plans to produce high-performance batteries at its Cellforce unit, citing weak EV demand and global market shifts. The subsidiary will now function as an independent R&D unit, with about 200 jobs affected, marking another setback for Europe’s battery ambitions. Dive deeper
Mercedes-Benz’s Pension Trust will offload $346 million worth of Nissan shares this week, with pricing set Tuesday and settlement on Thursday. Dive deeper
Coca-Cola is reviewing options for its Costa Coffee business, including a possible sale, with talks said to be at an early stage. 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.
Sanjay Malhotra, RBI Governor, on US tariffs and policy response
“Whatever is required to support economic growth, including those sectors impacted more, we will not be found wanting in our job.”
“We cut the repo rate by 100 bps and infused liquidity after the Liberation Day tariff announcements, while also lowering GDP forecasts by 20 bps.”
“It is important for countries to trade in local currencies to cushion from forex volatility, and India has already signed agreements with four nations.” - Link
Abhishek Goenka, CEO, IFA Global, on RBI and rupee strategy amid US tariffs
“S&P’s sovereign rating upgrade and GST rationalisation are positives, but the 50% US tariffs overshadow them.”
“The RBI may allow the rupee to weaken further to cushion the blow, as India faces the steepest tariff rate among Asian peers.”
“With Brent below $70 and benign food inflation, imported inflation risks are low, giving RBI room for calibrated currency adjustment.” - Link
Ashish Arora, CEO, Nxtra by Airtel, on data centre growth and sustainability
“Data centre industry is entering a phase of unprecedented growth, and Nxtra is proud to be at the forefront of this transformation.”
“As AI, cloud, and digital connectivity redefine lives and work, the infrastructure must be future-ready technologically, operationally, and environmentally.”
“With scale comes responsibility, 49% of power consumed at our core data centres already comes from renewable energy sources.” - 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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