Top Gainers and Losers on Aug 11: HBL Engineering, DOMS Industries, PB Fintech, Paytm, Swiggy among top gainers today
The Nifty 50 closed the session with a gain of 0.91% at 24,585 points, while the S&P BSE Sensex rose 0.93%, pushing the index back above the 80,000 mark to 80,604 points. The broader markets also recovered sharply from last week's sell-off, with the Nifty Midcap 100 and Nifty Smallcap indices rallying nearly 1% each.
U.S. President Donald Trump's 25% tariffs became effective last week, with an additional 25% set to take effect on April 27. This has raised hopes that India and the U.S. may reach a trade agreement before then.
Markets are also eyeing Trump's August 15 meeting in Alaska with Russian President Vladimir Putin, aimed at negotiating an end to the Ukraine war, which is currently boosting sentiment toward riskier assets.
Investors are also closely watching the key US inflation data, which will provide more insight into the Federal Reserve's interest rate outlook, amid fears the economy is teetering on the edge of stagflation. US consumers likely experienced a slight pickup in underlying inflation in July, as retailers gradually raised prices on various items subject to higher import duties.
The core consumer price index (CPI)—regarded as a measure of underlying inflation because it excludes volatile food and energy costs—rose 0.3% in July, according to the median projection in a Bloomberg survey of economists. In June, core CPI edged up 0.2% from the previous month.
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India.com
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