Summary of this article
News related to the upcoming Trump and Putin meeting is expected to impact the stock market.
Domestic cues such as gold prices and the announcement of Q1 results by 291 companies is also likely to affect trade on D-street
Fluctuations in commodity prices such as gold rates and crude oil prices are also likely to impact D-street.
Stock Market Cues: The benchmark Nifty is expected to start the week on a positive note even as uncertainties continue to loom large. The Gift Nifty opened higher at 24,422 and continued to trade higher in the early hours of August 11. The market is expected to react to several cues such as US President Donald Trump’s meeting with Russian President Vladimir Putin. Changes in commodity prices and the announcement of June quarter results by several companies are also expected to impact D-street today.
Earlier on August 8, the Nifty 50 closed at 24,363.3 levels, down by 232.85 points or 0.95 per cent and the BSE Sensex closed the session at 79,857.79, declining 765.47 points or 0.95 per cent.
Trump’s Tariffs
The United States is set to impose a second set of tariffs on Indian imports of 25 per cent, taking the total tariffs to 50 per cent. Prior to the new tariff deadline, US officials are expected to visit India for negotiating a bilateral trade deal.
Trump-Putin Meet
US President Donald Trump and Russian President Vladimir Putin are set to meet on August 15 to discuss ways to end the war in Ukraine. Earlier Trump also imposed a deadline for Russia to agree to a ceasefire or face more US sanctions.
Crude Oil Prices On August 11
Crude oil prices eased on August 11 as West Texas Intermediate crude and Brent Crude prices traded lower. The price of WTI Crude remained close to $63.54 down by $0.34 or 0.53 per cent. On the other hand Brent Crude prices remained around $66.3 down by $0.29 or 0.44 per cent.
Gold Rate Today
Prices of the yellow metal edged lower on August 11. The price of one gram of 24 karat gold remained around Rs 10,318 per gram while the price of one gram of 22 karat gold remained around Rs 9,459. The price of 18 karat gold was around Rs 7,739 per gram on August 11.
Q1 Results On August 11
Ipca Laboratories, Ashoka Buildcon, Astral, Awfis Space Solutions, Bajaj Consumer Care, Bata India, BEML, Brigade Hotel Ventures, Enviro Infra Engineers, Krsnaa Diagnostics, Praj Industries, Tilaknagar Industries, Titagarh Rail Systems, Travel Food Services, VST Tillers Tractors, and Websol Energy System are some of the major companies among the 291 companies set to release their June quarter earnings on August 11.
Asian Markets On August 11
On August 11, Asian indices such as Japan's Nikkei 225, Shanghai Composite and South Korea's KOSPI opened in the green. At the time of writing the Nikkei 225, Shanghai Composite and KOSPI traded higher by as much as 1.82 per cent.
