Markets rally to 2025 highs; Nifty scales 25,250
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 105-point gap-up at 25,150.35 and maintained a bullish tone, crossing the 25,200 mark by 10 AM. Throughout the day, the index remained in a narrow range between 25,180 and 25,260, reflecting a buy-on-dips sentiment. It eventually closed at 25,244.75, up by 0.80%.
While key indices like Nifty and Bank Nifty crossed important levels of 25,200 and 56,500 respectively, market sentiment remained cautious amid ongoing tensions in the Middle East, even as oil prices eased from recent highs. Investors continue to closely monitor geopolitical developments and await clarity on global tariff measures.
Broader Market Performance:
Broader markets had a strong session today. Of the 2,990 stocks traded on the NSE, 2,135 advanced, 776 declined, and 79 remained unchanged.
Sectoral Performance:
The top gaining sector for the day was Nifty Media, which rose by 1.99%, followed by Nifty IT and Nifty Consumer Durables, up 1.64% and 1.43% respectively. On the other hand, there were no losing sectors, as all sectors closed in the green. Out of the 12 listed sectors, all 12 ended the day with gains, indicating broad-based buying across the market.
Note: The above numbers for Commodity futures were taken around 5 pm. 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 26th June:
The maximum Call Open Interest (OI) is observed at 25,500, followed closely by 25,300, suggesting strong resistance at 25,400 - 25,500 levels.
The maximum Put Open Interest (OI) is observed at 25,200, followed closely by 25,000, suggesting strong support at 25,000 to 24,900 levels.
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
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What’s happening in India
HDB Financial Services raised ₹3,369 crore from 141 anchor investors ahead of its ₹12,500 crore IPO, allotting 45 million shares at ₹740 each. Key participants include LIC, ICICI Prudential MF, and SBI MF. The IPO opens on June 25. Dive deeper
The proposed ABS mandate for sub-125cc two-wheelers may raise costs and impact margins for Hero MotoCorp and TVS, while benefiting Endurance Technologies due to potential ABS market expansion. Rare earth magnet shortages pose a production risk, especially for EVs. Dive deeper
Hindalco’s subsidiary acquired US-based AluChem for $125 million, entering the low-soda tabular alumina space. The move boosts its specialty alumina portfolio and North American presence. This aligns with its strategy to expand in high-tech, value-added materials. Dive deeper
Infibeam Avenues has filed the Letter of Offer with SEBI for its ₹699.98 crore rights issue, with the promoter group confirming participation. The record date is June 26, 2025. Dive deeper
SEBI has asked stock exchanges to monitor if trading members are implementing corrective actions post-inspection. Non-compliance within specified timelines can lead to escalating penalties, a ban on new client onboarding, and trading terminal shutdowns. These measures take effect from July 1, 2025. Dive deeper
IFSCA has issued a framework at GIFT City allowing sectors like steel and aviation to raise funds through ESG-linked transition bonds. It requires a credible transition plan, alignment with global standards, and enhanced disclosures. The aim is to support gradual emission reduction in challenging sectors. Dive deeper
ITC has shut down its e-commerce platform, itcstore.in, citing its limited role post-pandemic. The company now plans to scale through third-party platforms like Blinkit and Amazon. This marks a shift in its digital strategy. Dive deeper
DGCA has given airlines and airport operators seven days to fix critical safety lapses identified in a recent audit. Issues ranged from aircraft defects and poor maintenance practices to outdated runway infrastructure and unserviceable ground equipment. The regulator will continue conducting focused surveillance to address systemic safety risks. Dive deeper
Emmvee has secured a ₹1,500 crore order from KPI Green Energy to supply TopCon bifacial solar modules for a project in Gujarat. The modules will be produced at its Karnataka facilities, reinforcing Emmvee’s position in India’s clean energy sector. Dive deeper
Timex Group’s promoter, Timex Group Luxury Watches B.V., will sell up to a 15% stake via OFS on June 25–26, with a floor price of ₹175 per share. The base offer is 7.5%, with an additional 7.5% through oversubscription. Dive deeper
SEBI has proposed limiting the powers of stock exchange chiefs by mandating separate officers to oversee trading and risk-compliance functions. These officers will report quarterly to the board and SEBI, independent of the MD. Dive deeper
SEBI has proposed a governance revamp for Market Infrastructure Institutions, requiring two executive directors to head key critical operations and regulatory-risk functions, alongside the MD. These EDs will sit on the board, report quarterly to SEBI, and need regulatory approval for appointments. Public feedback is invited until July 15. Dive deeper
NSE has offered ₹1,388 crore to SEBI to settle the long-pending co-location and dark fibre cases, aiming to clear regulatory hurdles ahead of its IPO. The co-location case involved preferential server access, while the dark fibre case concerned unauthorized vendor use. SEBI’s approval is awaited, with related court matters pending closure. Dive deeper
Paras Defence expects a ₹2,000 crore order pipeline in the coming year amid rising geopolitical tensions. With FY25 revenue at ₹333.9 crore and a current order book of ₹900 crore, it is focusing on R&D in drone and anti-UAV technologies. Dive deeper
What’s happening globally
WTI crude rose above $65 after a steep two-day drop, as Middle East tensions eased with a tentative Iran-Israel ceasefire. US crude inventories fell sharply by 4.28 million barrels, signaling tighter supply. Meanwhile, Trump’s support for Chinese imports of Iranian oil added a new twist to market dynamics. Dive deeper
Gold edged up to around $3,330/oz after a sharp drop, as geopolitical tensions linger despite a tentative Iran-Israel ceasefire. Dive deeper
The Fed held rates steady at 4.25% - 4.50% for a fourth straight meeting in June, citing caution amid policy uncertainty. It still projects two rate cuts in 2025 but trimmed growth and raised inflation forecasts. GDP is now seen at 1.4% for 2025, with inflation at 3.0%. Dive deeper
The US dollar index stayed below 98 amid easing Middle East tensions and reduced haven demand, as a US-brokered ceasefire holds despite lingering uncertainty. Fed Chair Powell reaffirmed a cautious stance on rates, with markets still pricing a small chance of a cut in July. Dive deeper
EU passenger car registrations rose 1.6% YoY in May 2025, driven by a 25% jump in battery EV sales, especially in Germany. Despite this, overall registrations for Jan–May fell 0.6%. BEVs now hold a 15.4% market share, with Germany, Belgium, and the Netherlands accounting for 62% of sales. Dive deeper
The Bank of Thailand kept its policy rate steady at 1.75% in June, citing low inflation and subdued growth. Headline inflation is expected at 0.5% in 2025, while GDP is forecast to grow 2.3% amid ongoing economic uncertainty. The central bank signaled flexibility in future policy moves. Dive deeper
European natural gas futures rose to €35.6/MWh as a heatwave across major cities drives up cooling demand. Brief weather relief is expected before temperatures climb again. Traders remain cautious amid a fragile Iran-Israel ceasefire, which could impact LNG flows through the Strait of Hormuz. Dive deeper
The Bank of Japan held its key rate at 0.5% in June, the highest since 2008, amid global uncertainty and ongoing US-Japan trade talks. It reaffirmed plans to gradually reduce bond purchases, aiming for a monthly pace of ¥2 trillion by March 2027, signaling cautious policy normalization. Dive deeper
The average 30-year fixed mortgage rate in the US rose to 6.88% in the week ending June 13, up from 6.84% previously, per the Mortgage Bankers Association. Despite the uptick, rates remain below the 6.93% level seen a year ago. Dive deeper
New Zealand recorded a trade surplus of NZD 1.235 billion in May 2025, up sharply from NZD 54 million a year ago. Exports rose 9.7%, driven by strong demand for dairy, meat, fruit, and precious metals, while imports grew 7.2%, mainly in ships, fertilizers, and machinery. Dive deeper
Australia’s CPI rose 2.1% in May 2025, easing to an eight-month low and staying within the RBA’s 2–3% target range. Core inflation also slowed, with trimmed mean inflation at 2.4%. Price pressures moderated across housing, food, and recreation, while transport deflation softened. Dive deeper
China Airlines plans to expand its Airbus fleet with five A350-900 and eight A321neo jets in a deal exceeding $2 billion. Five A321s will be bought from Air Leasing Corporation for $240 million, while A350s may be purchased or leased. Delivery timelines were not disclosed. Dive deeper
Wells Fargo has raised its price target on Rollins to $65 from $63, citing steady demand and minimal macro impact on its pest control services. The firm maintained an Overweight rating, highlighting strong ancillary services, pricing power, and improving margins. 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.
Jerome Powell, Chair, U.S. Federal Reserve, on interest rate policy and tariff impact
“Increases in tariffs this year are likely to push up prices and weigh on economic activity.”
“The effects on inflation could be short-lived, reflecting a one-time shift in the price level. It is also possible that the inflationary effects could instead be more persistent.”
“For the time being, we are well-positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.” - Link
Doug McMillon, Global CEO & President, Walmart on India’s growth and business outlook
“We see the growth in India. We see entrepreneurship happening here. And we get to do business all over the world and it’s rare to have such a big economy growing so fast and creating so much opportunity for so many.”
“Look at what’s happened in our sourcing business. It’s grown a lot and now we have this goal of getting to $10 billion a year, which is a really big number and together with the supplier community, we’re working to achieve that.”
“We’re really learning a lot from those businesses. The ability to innovate, the ability to move with speed, the ability to serve more and more customers… to build an e-commerce marketplace business that has just a really bright future.” - Link
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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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