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.
Follow Market Alerts by Zerodha on X (Twitter) to get instant summaries of key exchange filings as soon as they happen. These alerts are delivered in real time by Tijori.
Market Overview
Nifty opened nearly 100 points lower at 22,847.25 and initially hovered near the day’s low. A strong recovery followed, with the index climbing 175 points to test 22,990.
After a brief consolidation, the index surged past the 23,000 mark, reaching an intraday high of 23,049.95. However, following the recent trend, an intraday sell-off occurred, stabilizing around 22,930.
The market remained weak in the second half, sliding to 22,860 before rebounding by 80 points, closing nearly flat at 22,932.90, down 0.05%. Sentiment remains uncertain, with future movements dependent on global and domestic cues.
Broader Market Performance:
Although the headline indices remained flat, Broader market indices bounced back strongly today. Of the 2,927 stocks traded on the NSE, 2,140 advanced, 725 declined, and 62 remained unchanged.
Sectoral Performance:
The top-gaining sector for the day was Nifty Realty, which closed at 845.95, marking a 1.67% gain. On the other hand, the top losing sector was Nifty IT, which closed at 40,924.25, registering a 1.30% decline. In terms of sectoral performance, eight sectors ended in the green, indicating positive momentum, while four sectors closed in the red, reflecting weakness in those segments.
Note: The above numbers for Commodity futures were taken around 4 pm.
Net Flow Breakdown for the day:
- FII: Net outflow of ₹1,881.30 crore (Bought ₹11,570.57 crore, Sold ₹13,451.87 crore)
- DII: Net inflow of ₹1,957.74 crore (Bought ₹11,192.98 crore, Sold ₹9,235.24 crore)
Change in OI for the day
The following is the change in OI for Nifty contracts expiring on 20th February:
- The maximum Call Open Interest (OI) is observed at 23,100, followed by 23,000. Meanwhile, The maximum Put Open Interest (OI) is at 22,500, closely followed by 22,800.
- Immediate support is identified in the 22,800–22,700 range, while resistance is expected between 23,200 zones followed by 23,300.
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 get a sense of 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 rebounded to 86.8 per USD from a record low of 88.1 as the RBI intervened amid US tariff pressures and emerging market currency moves. Dive deeper
India’s GDP growth is projected to slow to 6.4%-6.6% in Q3 FY25 from 8.6% a year ago, impacted by global uncertainties. While the agriculture and public administration sectors may see growth, the industrial and services sectors are expected to expand at a slower pace. Increased rural demand and higher government spending could support growth in Q4. Dive deeper
Indian Continent Investment (ICIL), a Mittal family-backed entity, sold a 0.84% stake in Bharti Airtel for ₹8,485 crore via block deals. Bharti Telecom (BTL) acquired 12 million shares, increasing its stake in Airtel to 40.47%, while major investors like GQG Partners and SBI Life also participated. The sale proceeds are expected to support Bharti Group’s recent stake purchase in British Telecom Group (BT Group). Dive deeper
SEBI has proposed tech-based measures to enhance trading security and prevent unauthorized transactions. The plan includes SIM binding for authentication, biometric login, and temporary account lock-in features. It also suggests restricting call and trade services to centralized broker contacts to mitigate risks. Dive deeper
SEBI has cancelled the licenses of 19 defunct foreign venture capital investors (FVCIs) for multiple rule violations. These entities, including Axis Capital Mauritius and Blackstone Capital Partners (Singapore), failed to submit quarterly reports and did not disclose their defunct status in home jurisdictions. The action follows an examination revealing non-compliance. Dive deeper
The National Stock Exchange of India (NSE) has restarted its IPO process by seeking SEBI’s approval. Its valuation reached ₹4.7 lakh crore in 2024, with a reported plan to sell a 10% stake. FY24 revenue rose 28% to ₹16,352 crore, while net profit increased 51% to ₹8,306 crore. Dive deeper
Reliance Consumer Products Ltd has introduced Campa in the UAE, marking its entry into the region. Partnering with Agthia Group, the brand’s portfolio includes Campa Cola, Lemon, Orange, and Cola Zero. Dive deeper
NPA provisioning for 29 banks rose 20% year-on-year to ₹23,298 crore in the December quarter, driven by a sharp increase in private sector bank provisions. Public sector banks saw a record low in provisioning, continuing a ten-quarter decline, while private banks reported an 81.5% surge, reaching a 14-quarter high. Dive deeper
Reliance Infrastructure plans to enter renewable energy manufacturing with integrated solar and battery production units. The solar facility will boost panel and component production, while the battery unit will focus on energy storage for grid and electric mobility. Dive deeper
NSE Clearing has requested BSE to contribute ₹104 crore to the Settlement Guarantee Fund (SGF) based on a recent stress test, with a deadline of February 28. This follows ongoing discussions regarding interoperability arrangements and related contributions among market participants. Dive deeper
Vedanta shares rose 1.55% to ₹424.70 after receiving 83% creditor approval for its demerger plan. The company will split into five independent entities to focus on core businesses, aiming to enhance shareholder value. Dive deeper
RVNL shares jumped 11.86% to ₹372.9 after securing a ₹554.47 crore contract for nine stations under the Bengaluru Suburban Rail Project. The project, in partnership with Rithwik Projects, will be completed in 24 months. Dive deeper
Infosys announced a $300 million IT contract with Lufthansa to establish a Global Capability Centre for its digital transformation. The centre will focus on developing AI-driven aviation IT solutions and enhancing key operational functions for Lufthansa Group. Dive deeper
Ola Electric Mobility expects lower VAHAN registrations in February due to ongoing contract renegotiations with Rosmerta Digital Services and Shimnit India. However, the company confirmed that sales remain strong and the registration dip will be resolved in the coming weeks. Dive deeper
Raymond Lifestyle Ltd. experienced a cyber attack impacting some IT assets, but customer and store operations remained unaffected. The company is taking steps to address the incident and ensure system security. Dive deeper
What’s happening globally
Brent crude rose above $76 per barrel as a Russian pipeline attack and cold weather in the US threatened supply. Geopolitical risks eased slightly with US-Russia talks on Ukraine, though uncertainties remain. OPEC+ output decisions and US-Venezuela oil policies are being watched. Dive deeper
Gold rose above $2,930 per ounce as US tariff threats and global uncertainties drove safe-haven demand. Trade tensions escalated with Trump’s planned tariffs, while the Fed signaled a steady rate stance. Singapore’s gold shipments to the US surged amid market disruptions. Dive deeper
The US 10-year Treasury yield stayed above 4.5% as Trump’s tariff threats on autos, semiconductors, and pharmaceuticals fueled inflation concerns. Fed officials maintained a cautious stance on rate cuts, with markets pricing in 35 bps of easing this year. Traders await FOMC minutes for further policy insights. Dive deeper
The UK’s annual inflation rate rose to 3% in January 2025, the highest since March 2024, driven by transport, food, and education costs. Core inflation increased to 3.7%, while services inflation reached 5%, below the BoE’s 5.2% forecast. Monthly CPI fell 0.1%, less than the expected 0.3% decline. Dive deeper
Bank Indonesia kept its benchmark rate at 5.75% to control inflation and stabilize the Rupiah amid global uncertainty. Inflation eased to 0.76% in January, the lowest since March 2000, while the Rupiah depreciated 1.06% YTD. The overnight deposit and lending facility rates remained at 5% and 6.5%. Dive deeper
The Japanese yen hovered around 152 per dollar as weak economic data and a larger trade deficit weighed on sentiment. While expectations of a Bank of Japan rate hike support the yen, uncertainty remains over a March move. Externally, a stronger US dollar, driven by Trump’s new tariff threats, added pressure. Dive deeper
China’s new home prices fell 5.0% year-on-year in January 2025, marking the 19th consecutive decline but the smallest drop since July. Beijing’s policy measures, including lower mortgage rates and local government purchases, aimed to stabilize the market. Monthly prices remained flat for the second straight month. Dive deeper
The Reserve Bank of New Zealand cut its official cash rate by 50 bps to 3.75%, the lowest since 2022, amid slowing growth and easing inflation. Annual inflation fell to 2.2% in Q4 2024, the lowest since March 2021. Wage growth is also slowing, reflecting weaker labour demand. Dive deeper
Japan’s exports rose 7.2% year-on-year to JPY 7,863.75 billion in January 2025, marking the fourth consecutive increase. Growth was driven by transport equipment (12%), machinery (0.8%), and chemicals (4.9%), while electrical machinery and manufactured goods declined. Sales surged to the US, ASEAN, and Russia but fell to China, India, and the EU. Dive deeper
The UK’s Competition and Markets Authority (CMA) has provisionally cleared Amex GBT’s $570 million acquisition of CWT, reversing its earlier stance after finding CWT weaker than expected. This shift comes amid government pressure on the CMA to support economic growth and investment. A final decision is due by March 9, while US antitrust authorities continue their review. Dive deeper
BlackRock paused corporate meetings after new SEC rules tightened disclosure requirements for investor activism. The changes impact engagement on governance and Environmental, Social, and Governance (ESG) issues by requiring detailed filings for large fund managers. This is part of broader efforts to regulate their influence. 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.
Uday Kotak, Founder & Director of Kotak Mahindra Bank on what would be the right strategy for India in the current environment
“India cannot afford protectionism; India has to take advantage of changing times and make Indian industry competitive rather than protective. The new world will give limited options to run large current account deficits.”
“India will need to go through a gradual fiscal consolidation. India needs to move from micro-management/over-regulation and move toward ushering growth and competition.” - Link
Raamdeo Agrawal, chairman and co-founder at Motilal Oswal Financial Services Ltd on Mid and small-caps and Banking sector
“There were excesses in the valuations of mid and small caps and some part of it has already phased out. The fall has been gradual owing to DII flow. In valuation terms, what cannot be sustained will not sustain,”
“Right now, the mood in the banking sector is very bad. Investors are staying away from banks as the commentary from banks is pretty muted,” - Link
Calendars
In the coming days, we have the following major events and corporate actions:
That’s it from us. Do let us know your feedback in the comments and share it with your friends to spread the word.