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1074: Marketbuzz Podcast with Vivek Iyer: Sensex, Nifty 50 set to open flat as cooling US inflation offsets domestic concerns
2023-08-11
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Indian benchmark indices — Sensex and Nifty 50 — are likely to make a muted start on August 11, as optimism over moderating U.S. inflation offset near-term domestic price concerns.
India's GIFT Nifty on the NSE International Exchange was up 0.05 percent at 19,550 at 8:15 am.
In the overnight session in the US, Wall Street equities edged higher after data showed that US consumer price inflation moderated in July, bolstering hopes that the US Federal Reserve is near the end of its rate-hiking cycle. Asian markets were subdued.
Back home on August 10, the Reserve Bank of India held key rates steady as expected. Governor Shaktikanta Das said there could be substantial rise in headline inflation in the near-term and raised the retail inflation forecast for fiscal 2024, citing pressure from food prices.
Both the Nifty and Sensex declined on Thursday, dragged by financials and consumer stocks. The bluechips have been little changed for the week, after logging losses in the previous two weeks.
In today's session, Hero MotoCorp is likely to be in focus as the two-wheeler maker posted a rise in June quarter profit and is eyeing more premium bike launches.
State-owned life insurer Life Insurance Corporation of India (LIC) also reported a surge in first-quarter profit on the transfer of money to a shareholders' fund.
Apollo Tyres' June quarter profit more than doubled on lower costs while Steel Authority of India posted a fall in first-quarter profit on rising costs.
Tune in to the Marketbuzz Podcast for more cues ahead of today’s session
India's GIFT Nifty on the NSE International Exchange was up 0.05 percent at 19,550 at 8:15 am.
In the overnight session in the US, Wall Street equities edged higher after data showed that US consumer price inflation moderated in July, bolstering hopes that the US Federal Reserve is near the end of its rate-hiking cycle. Asian markets were subdued.
Back home on August 10, the Reserve Bank of India held key rates steady as expected. Governor Shaktikanta Das said there could be substantial rise in headline inflation in the near-term and raised the retail inflation forecast for fiscal 2024, citing pressure from food prices.
Both the Nifty and Sensex declined on Thursday, dragged by financials and consumer stocks. The bluechips have been little changed for the week, after logging losses in the previous two weeks.
In today's session, Hero MotoCorp is likely to be in focus as the two-wheeler maker posted a rise in June quarter profit and is eyeing more premium bike launches.
State-owned life insurer Life Insurance Corporation of India (LIC) also reported a surge in first-quarter profit on the transfer of money to a shareholders' fund.
Apollo Tyres' June quarter profit more than doubled on lower costs while Steel Authority of India posted a fall in first-quarter profit on rising costs.
Tune in to the Marketbuzz Podcast for more cues ahead of today’s session
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