Stock Market Today, August 11: Indian benchmark indices are expected to open on a weak note on August 11, mirroring subdued cues from GIFT Nifty, which was trading slightly lower around 24,621 during early trade.
Market benchmark indices ended marginally higher on Monday, with the Sensex climbing over 43 points and the Nifty ending flat, amid a spike in crude oil prices due to geopolitical uncertainties.
Asian Markets: Asian markets traded mixed on August 11, taking cues from Wall Street as investors stayed cautious ahead of key US inflation data, while keeping a close watch on elevated crude oil prices and ongoing geopolitical tensions.
US Markets: US markets ended lower on Monday, led by weakness in Intel and other semiconductor stocks, as investor optimism over a potential agreement to reopen the Strait of Hormuz faded. The S&P 500 slipped 0.06 per cent to close at 7,753.12, while the Nasdaq fell 0.32 per cent to 26,605.36. The Dow Jones Industrial Average also edged lower, declining 0.11 per cent to finish at 53,976.04.
US Bond Yield: US Treasury yields advanced, with the benchmark 10-year yield rising to around 4.71 per cent and the 2-year yield climbing to about 4.24 per cent, as investors weighed persistent inflation concerns and uncertainty surrounding the Federal Reserve’s future interest-rate path.
Asian Currencies: Asian currencies traded largely higher against the US dollar, led by the Indonesian Rupiah, which gained 0.8 per cent. The South Korean Won rose 0.26 per cent, followed by the Japanese Yen with a 0.09 per cent gain, while the Thai Baht edged up 0.01 per cent. The Chinese Renminbi remained unchanged. Among the laggards, the Philippine Peso fell 0.34 per cent, while the Taiwan Dollar, Malaysian Ringgit and Singapore Dollar slipped 0.03 per cent, 0.02 per cent and 0.01 per cent, respectively.
Gold Prices: Gold extended its gains for a third consecutive session on Tuesday, climbing to its highest level in more than two months, as investors awaited key US inflation data for fresh clues on the Federal Reserve’s interest-rate trajectory.
Fund Flow Action: Foreign institutional investors (FIIs) remained net buyers for the second straight session, purchasing Indian equities worth nearly Rs 2,000 crore. In contrast, domestic institutional investors (DIIs) turned net sellers after three consecutive days of buying, offloading equities worth around Rs 1,290 crore.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
Akshat Mittal is the Chief Copy Editor at ET NOW with over 6 years of experience, specialising in Markets, Personal Finance, and General News. Before joining ET NOW, he worked with prominent media organisations and has reported on numerous major events firsthand.
He has also conducted several high-profile interviews on topics such as the 8th Pay Commission and the IMF’s loan to Pakistan amid Operation Sindoor.
Akshat has been involved in numerous key business launches, covering these events on the ground. His articles are widely published in national magazines and newspapers, where he has conducted several interviews with prominent political figures.
He was the first to bring out the IMF spokesperson’s statement on the voting pattern of the Executive Directors, following reports claiming that ‘no is not an option’ in the IMF voting procedure.
Akshat is passionate about public speaking and has delivered numerous lectures at colleges and schools. He also served as a member of a Youth Parliament in Delhi.
