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 flat with a small gap-up of 15 points at 24,891 and traded in a narrow range during the first hour. It gradually moved higher through the session, testing the 25,000 mark by 12:30 PM. In the second half, the index dipped toward 24,940 before moving sideways in the last hour. Eventually, Nifty climbed to the higher end of the range and closed at 24,980.65, up 0.41%.
Market sentiment, however, stayed fragile amid escalating tariffs, persistent FII outflows, and muted earnings reactions. Investors remain focused on intensifying U.S.-India trade tensions and developments around the U.S.-Russia talks, both of which are expected to guide near-term market direction.
Broader Market Performance:
Broader markets had a positive session today. Of the 3,078 stocks traded on the NSE, 2,049 advanced, 938 declined, and 91 remained unchanged.
Sectoral Performance
The top gaining sector of the day was Nifty Media, which rose 1.34%, followed closely by Nifty Auto with a 1.31% gain. On the other hand, the only sector to close in the red was Nifty Pharma, slipping 0.34%. Overall, 11 sectors ended in green, while 1 sector closed in red, showing broad-based strength across most indices.
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 21st August:
- The maximum Call Open Interest (OI) is observed at 25,000, followed closely by 25,500, suggesting strong resistance at 25,000 - 25,100 levels.
- The maximum Put Open Interest (OI) is observed at 24,900, followed closely by 25,000, 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
India has suspended cotton import duties from August 19 to September 30 to support its garment sector, which depends on specific imported varieties. The move also comes amid steep US tariffs on Indian apparel. Dive deeper
Auto stocks rallied after China assured India it would address the rare earth magnet supply crunch, easing concerns over disruptions in the sector. Dive deeper
India’s 10-year bond yield climbed to 6.5%, a four-month high, after GST tax cuts raised fiscal concerns and borrowing expectations. Bond prices fell despite S&P’s rating upgrade, with focus shifting to the RBI’s debt auction. Dive deeper
Sebi has proposed easing minimum public offer rules for very large companies while retaining the 35% retail quota in IPOs. The new framework allows big issuers to start with smaller IPOs and gradually meet the 25% minimum public shareholding requirement over longer timelines. This staggered approach aims to reduce immediate dilution pressure and make large listings more feasible. Dive deeper
Sebi has released a consultation paper proposing stricter norms for derivatives on non-benchmark indices, including a minimum of 14 constituents, a 20% cap on the top stock, and 45% combined cap on the top three. Both NSE and BSE favor adjusting existing indices instead of launching new ones, with NSE suggesting a phased transition to avoid ETF disruptions. Public comments are invited until September 8. Dive deeper
Escorts Kubota will invest Rs 4,500 crore to set up a tractor manufacturing plant on the Yamuna Expressway, creating 4,000 jobs in phases. The first phase of Rs 2,000 crore will include tractor and equipment plants with allied facilities. The unit will serve both domestic and global markets while supporting Kubota’s R&D from India. Dive deeper
Swiggy has partnered with Bounce to deploy e-scooters for delivery partners, starting in Delhi NCR and Bengaluru. The move aims to lower costs, boost EV adoption, and reduce the carbon footprint of deliveries. Dive deeper
Coffee Day Enterprises has elevated CEO Malavika Hegde as chairperson of both the company and its subsidiary Coffee Day Global, succeeding S.V. Ranganath. She has also been reappointed as whole-time director for another five years. Dive deeper
Embassy Developments Ltd expects Rs 560 crore revenue from managing and marketing two upcoming housing projects in Mumbai and Bengaluru under a development management fee model, representing 10% of the estimated Rs 5,600 crore project value. Dive deeper
TCS has opened an AI-led operations centre in Mexico City, its eighth in the country, aimed at driving innovation and collaboration in Latin America. The facility will focus on AI, cloud, cybersecurity, IoT, and digital operations, while also creating new employment opportunities over the next two years. Dive deeper
Automobile stocks rallied on hopes of a GST cut on small cars and hybrids, with Hyundai Motor India hitting a record high. The buzz around tax reforms is expected to lower prices and boost festive demand. Dive deeper
Vodafone Idea shares rose after outgoing CEO Akshaya Moondra said the telco is exploring non-banking funding sources to maintain its capex cycle, as banks await clarity on the AGR issue. The board also approved a leadership change, appointing Abhijit Kishore as the new CEO. Dive deeper
Reliance Jio has discontinued its 1 GB per day entry plans, making Rs 299 the new base tariff with 1.5 GB per day for 28 days. With Airtel and Vodafone Idea also starting at Rs 299, the industry now has a common base price. Telecom operators are expected to announce another round of tariff hikes within the next six months. Dive deeper
What’s happening globally
Brent crude fell toward $66 per barrel as hopes of a Russia-Ukraine meeting raised prospects of easing sanctions on Russian energy. Prices have already dropped nearly 10% this month amid trade tensions and higher OPEC+ output. Dive deeper
Gold climbed above $3,330 per ounce as investors weighed US-led peace efforts in Ukraine while awaiting Fed Chair Powell’s speech at Jackson Hole. Hopes of a breakthrough remain cautious, with markets pricing an 84% chance of a September rate cut. Dive deeper
Lithium carbonate prices climbed toward CNY 85,000 per tonne, the highest in a year, as lower output and China’s pledged capacity cuts fueled supply concerns. Sentiment was further lifted after CATL halted operations at its Jianxiawo mine, which accounts for about 5% of global supply. Dive deeper
Wheat futures fell toward $5 per bushel, near a one-year low, on ample global supplies and Russia raising its crop forecast. Hopes of Ukraine peace talks boosting exports and strong US crop conditions added to the pressure. Dive deeper
Canada’s annual inflation eased to 1.7% in July 2025, below forecasts of 1.9% and under the Bank of Canada’s 2% target for the fourth month. A sharp 16.1% fall in gasoline prices drove the slowdown, though grocery costs and natural gas partly offset it. On a monthly basis, CPI rose 0.3%, matching expectations. Dive deeper
China has lifted export curbs on rare earth magnets, fertilizers, and tunnel boring machines to India after talks between the two countries’ foreign ministers. The move follows India’s concerns over fertilizer shortages and supply risks for the auto and electronics industries. Dive deeper
Xiaomi’s Q2 revenue rose 30.5% to 116 billion yuan, with net profit up 75.4% to 10.8 billion yuan on strong smartphone shipments. Global shipments edged up to 42.4 million units, though revenue fell on lower prices. Its EV business delivered 81,000 vehicles, narrowing losses and aiming for profitability in H2. Dive deeper
Nvidia is developing the B30A, a China-specific AI chip based on Blackwell architecture, more powerful than the H20 but below its flagship B300. Samples may reach Chinese clients next month, pending US approval. 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.
Anil Yadav, Director-Investor Relations, IRB Infrastructure, on Q1 performance and outlook
“Growth in toll collection has translated into a steady increase in Ebitda, with profitability up 45% in Q1.”
“We posted a 10% rise in toll revenue to ₹548 crore in July 2025, with an uptick already visible in collections.”
“We expect to start the Ganga Project in Q2, while executing nearly ₹4,000 crore worth of orders this year and participating in upcoming BOT and TOT projects.” - Link
Shishir Baijal, CMD, Knight Frank India, on InvIT market growth
“India’s InvIT platform is at the threshold of a transformative growth phase, set to scale from USD 73 billion today to USD 250-265 billion by 2030.”
“InvITs will bridge critical infrastructure financing gaps while opening new pathways for domestic and global capital to participate in India’s growth story.”
“The next chapter for India’s InvIT market will be about depth and diversity, backed by policy stability, regulatory clarity, and risk management tools.” - Link
Sameer Hiremath, Vice Chairman & MD, Hikal Ltd., on India’s pharma growth
“With the implementation of new policy frameworks, India’s pharmaceutical contract manufacturing industry is emerging as a key global player.”
“India’s ₹15,000-crore PLI scheme for bulk drugs and a broader PLI for formulations have improved the economic attractiveness of Indian manufacturing.”
“These initiatives are positioning India as a global pharmaceutical powerhouse.” - Link
Masayoshi Son, Founder & CEO, SoftBank, on Intel investment
“This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role.” - Link
Lip-Bu Tan, CEO, Intel, on partnership with SoftBank
“This deal demonstrates our close ties with SoftBank, a company at the forefront of emerging technology and innovation, sharing our commitment to advancing US technology and manufacturing leadership.” - 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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