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 100-point gap-up at 24,586 on the back of strong global cues and traded in a narrow range between 24,550 and 24,600 during the first half. In the second half, the index moved its base higher, consolidating between 24,600 and 24,650, and eventually closed at 24,619.35, up 0.54%.
Market sentiment, however, remained fragile amid escalating tariffs, persistent FII outflows, and muted earnings reactions. Investors are closely tracking the intensifying U.S.-India trade tensions, which are likely to steer near-term market direction.
Broader Market Performance:
Broader markets had a mixed session with a bullish bias. Of the 3,061 stocks traded on the NSE, 1,685 advanced, 1,287 declined, and 89 remained unchanged.
Sectoral Performance
Nifty Pharma was the top gainer, surging 1.73%, followed by Nifty Metal and Nifty Auto, which gained 1.26% and 1.12% respectively. On the losing side, Nifty PSU Bank was the weakest performer, slipping 0.14%, trailed by Nifty FMCG and Nifty Energy, which dipped 0.04% and 0.01% respectively. Out of the 12 sectoral indices, 9 ended in the green while 3 closed in the red, indicating a broadly positive sentiment across the market.
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 August:
- The maximum Call Open Interest (OI) is observed at 25,000, followed closely by 24,700, suggesting strong resistance at 24,700 - 24,800 levels.
- The maximum Put Open Interest (OI) is observed at 24,600, followed closely by 24,500, suggesting strong support at 24,500 to 24,400 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
SEBI has proposed a standard reason code ‘TLH’ for reporting the transfer of securities from nominees to legal heirs. This aims to prevent such transmissions from being taxed as sales and align with the Income Tax Act. Entities will have three months to implement the change once finalised. Dive deeper
Paytm’s wholly owned subsidiary, Paytm Payments Services Ltd, received in-principle authorisation from the RBI to operate as an online payment aggregator, subject to compliance with regulatory guidelines and a comprehensive system audit. The RBI also lifted merchant onboarding restrictions imposed since November 2022. Dive deeper
NSDL’s Q1FY26 net profit rose 15% YoY to Rs 90 crore, while revenue from operations fell 23% to Rs 312 crore. EBITDA increased 27% to Rs 115 crore, with operating expenses up 15% to Rs 81 crore. Dive deeper
Apollo Hospitals reported a 42% YoY rise in consolidated net profit to Rs 433 crore for Q1FY26, with revenue up 15% to Rs 5,842 crore. Dive deeper
Blackstone-owned Horizon Industrial Parks, which operates 40 industrial and logistics parks in India, is exploring an IPO in Mumbai in 2026 to raise about Rs 4,400 crore, targeting an enterprise valuation of $4 billion. The plan is at an early stage, and details may change. Dive deeper
NMDC reported a 23% YoY rise in revenue to Rs 6,634 crore in Q1FY26, driven by higher iron ore production and sales, while PAT dipped 1% to Rs 1,969 crore. EBITDA grew 2% to Rs 2,777 crore with margins at 42%, as production rose 31% and sales increased 14% year-on-year. Dive deeper
RVNL reported a 40% YoY drop in consolidated net profit to Rs 134.36 crore in Q1FY26, with revenue from operations down 4% to Rs 3,908.77 crore and total income falling 4.6% to Rs 4,136.96 crore. Profit before tax declined 42.5% to Rs 173.41 crore. Dive deeper
Honasa Consumer reported a 7% YoY rise in operating revenue to Rs 595 crore in Q1FY26, with net profit inching up to Rs 41 crore from Rs 40 crore a year earlier. EBITDA stood at Rs 47 crore, with margins improving to 8%. Dive deeper
Bharat Dynamics reported a 154% YoY surge in Q1FY26 PAT to Rs 18.35 crore, with revenue rising 23.07% to Rs 231.09 crore and total income up 23.29% to Rs 334.79 crore. Total expenses grew 19.72% to Rs 311.66 crore. Dive deeper
Hindustan Aeronautics reported a 4.1% YoY decline in consolidated net profit to Rs 1,377 crore in Q1FY26, while revenue, operating profit, and profit margin improved. Dive deeper
Shriram Properties posted an 18% YoY rise in Q1FY26 net profit to ₹20.6 crore, with total revenue up 24% to ₹261.5 crore and revenue from operations surging 57% to ₹242 crore, driven by strong project handovers. Dive deeper
SEBI has rejected settlement pleas from Anil Ambani, his family, and former Yes Bank CEO Rana Kapoor in a case involving alleged quid pro quo investments between Reliance Nippon Life AMC and Yes Bank. Investigations found Ambani influenced investment decisions, and legal action will now proceed. Dive deeper
Karnataka Bank’s Q1FY26 net profit fell 27% YoY to Rs 290 crore, with net interest margin easing to 2.82% from 3.54%. Total income rose to Rs 2,620 crore, while gross NPAs improved to 3.46% and net NPAs to 1.44%. Dive deeper
Weaver Services has completed the Rs 267 crore acquisition of Capital India Home Loans, marking its entry into the affordable housing finance segment. The deal was funded through equity from Premji Invest, Gaja Capital, and other investors. Dive deeper
The RBI has allowed non-residents holding special rupee vostro accounts to invest surplus balances in central government securities, including treasury bills. The directive takes immediate effect and aims to further facilitate rupee-based trade settlements. Dive deeper
What’s happening globally
Brent crude traded near $66 a barrel, pressured by signs of slowing demand and rising US inventories. The EIA expects US output to peak in 2025 before declining, while OPEC kept its 2025 demand forecast steady and raised its 2026 growth estimate. Dive deeper
US annual inflation held at 2.7% in July 2025, below the 2.8% forecast, while core inflation rose to a five-month high of 3.1%. Monthly CPI increased 0.2% and core CPI 0.3%, the latter marking its sharpest gain in six months. Dive deeper
The dollar index held near 98 after US inflation data reinforced expectations of a Fed rate cut in September, with traders pricing in a 94% chance of a 25 bps move. Headline inflation stayed at 2.7% while core rose to 3.1%, a six-month high. Dive deeper
The euro climbed above $1.171, its highest in nearly three weeks, as US rate-cut expectations weighed on the dollar. The ECB ended its easing cycle in July, with Eurozone Q2 GDP up 0.1% and inflation steady at 2%. Dive deeper
Poland’s GDP grew 3.4% YoY in Q2 2025, up from 3.2% in Q1 and above the 3.3% forecast, marking a fifth straight quarter of near 3% growth. Seasonally adjusted GDP rose 0.8% from the previous quarter, reflecting resilience despite global trade and geopolitical risks. Dive deeper
The Bank of Thailand cut its policy rate by 25 bps to 1.50% in August 2025, the lowest since February 2023, amid inflation staying below target at -0.7% in July. GDP growth is projected at 2.3% for 2025 and 1.7% for 2026, with momentum from H1 exports and manufacturing expected to ease in H2. Dive deeper
Tata Motors-owned Jaguar Land Rover will recall over 121,500 vehicles in the United States, including Range Rover and Range Rover Sport models, due to cracked front suspension knuckles, the US National Highway Traffic Safety Administration (NHTSA) said. Dive deeper
Commonwealth Bank of Australia signed a multi-year deal with US-based OpenAI to deploy generative AI tools. The partnership aims to boost fraud detection and personalise services. CBA staff will get access to enterprise-grade ChatGPT with responsible AI training. Dive deeper
Perplexity AI made an unsolicited $34.5 billion all-cash offer for Alphabet’s Chrome browser, despite being valued at $14 billion. The startup plans to keep Chromium open source and invest $3 billion over two years. Google has not offered Chrome for sale and is appealing a ruling that could force its divestiture. 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.
Porinju Veliyath, Founder & CEO, Equity Intelligence, on US tariffs and India’s growth outlook
“India is not giving too much importance to Trump. We are not highly dependent on any country or leader.”
“Trump-kind-of people will come and go, but we will continue to be one of the strongest economies for a long time to come.”
“The latest US tariffs are small abrasions for the Indian market; there’s a vast opportunity for investors to build wealth, with equity investment being the most promising segment.” - Link
Taimur Baig, MD & Chief Economist, DBS Bank, on US Fed rate cuts and tariff impact
“For the next 3-4 months, there is runway for the Fed to deliver two 25 bps rate cuts.”
“Tariffs could push US inflation above 3% in early 2026, complicating the Fed’s job.”
“Companies are initially negotiating supplier discounts and absorbing costs, but consumers will bear the tariff burden over the next year.” - Link
Abhijit Roy, MD & CEO, Berger Paints, on growth targets and market strategy
“Our ambition is to reach ₹20,000 crore turnover by 2030, driven by opportunities in decorative paints, construction chemicals, and industrial segments.”
“Despite rising costs of some raw materials, we have no plans to increase product prices as softer input prices balance the impact.”
“We continue to gain market share and improve profitability, with strong growth expected through innovation, digitalisation, and network expansion.” - 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.
Also reading Mind Over Markets by Varsity?
It goes out thrice a week, covering markets, personal finance, or the odd question you didn’t know you had. The Varsity team writes across three sections: Second Order , Side Notes , and Tell Me Why , thoughtfully put together without trying to be too clever.
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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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