On Tuesday, August 12, Gift Nifty indicated a marginally higher start for the benchmark Nifty. As of 7:14 AM, the GIFT Nifty was trading near the 24,601 mark, up 26 points from its previous close.
Nifty bulls will prefer to wait for the CPI data before making the next move higher. The CPI, which is set to be released on Tuesday, August 12, will provide further cues.
Asian markets traded higher, with Japan’s Nikkei hitting a record high, while the US stock market ended lower overnight. According to reports of US-Russia peace talks are likely to be held this week.
Upcoming earnings reports from key companies are expected to influence stock-specific movements.
Hindustan Aeronautics (HAL), Oil and Natural Gas Corporation (ONGC), Hindalco Industries, Apollo Hospitals Enterprises, Jindal Steel & Power, Zydus Lifesciences, Suzlon Energy, NHPC, Lloyds Metals and Energy, Rail Vikas Nigam, Abbott India, Oil India and NMDC will announce their Q1 earnings today.
On Monday, August 11, Foreign Institutional Investors (FIIs) were net sellers, having sold equities worth ₹1,202.65 crore. In contrast, Domestic Institutional Investors (DIIs) purchased shares worth ₹5,972.36 crore during the same session, extending their buying streak to 26 consecutive trading sessions.
On Monday, Indian equities saw a broad-based rebound driven by short-covering, with major indices ending significantly higher. The Sensex advanced 746.29 points, or 0.93%, to finish at 80,604.08, while the Nifty 50 climbed 221.75 points, or 0.91%, to close at 24,585.05.
On Monday, U.S. equities closed in the red as traders monitored developments in U.S.-China trade relations.
The Dow Jones Industrial Average slipped 200.52 points (0.45%) to 43,975.09, the S&P 500 eased 16 points (0.25%) to 6,373.45, and the Nasdaq Composite declined 64.62 points (0.30%) to 21,385.40.
As per reports, the United States and China have agreed to prolong their tariff truce by an additional 90 days. President Donald Trump, in a post on his Truth Social account, stated that he has signed an executive order delaying the planned tariff hike until November 10, while keeping all other terms of the agreement unchanged.
Gold prices moved higher, recovering from the previous session’s steep decline, as investors awaited upcoming US inflation figures. Spot gold was up 0.3% at $3,355.59 per ounce.
Crude oil prices rose as the United States and China extended a pause on higher tariffs. Brent crude futures gained 0.30% to $66.83 a barrel, while US West Texas Intermediate crude futures rose 0.25% to $64.12.
Disclaimer: The article is for informational purposes only and not investment advice.
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