The markets staged a smart recovery in the last hour of trade on Wednesday and the Nifty 50 managed to reclaim 19,600. The Nifty gained around 61-odd points, the Nifty Bank slipped, but the midcap index gained. Foreign institutional investors (FIIs) bought after nine consecutive sessions of selling, which is definitely a positive. FIIs net bought around Rs 644 crore in the cash market on Wednesday, while domestic institutional investors (DIIs) net sold close to around Rs 600-odd crore. The US markets were definitely weak, so we had the US markets correct. The CPI as well as the initial jobless claims would be two key factors that the Street would be watching out for closely.Asian stocks are lower ahead of the inflation data. Crude has hit the highest level that we have seen since January 27. So the Street will be waiting by for trends on brent crude. The GIFT Nifty is implying a weak start to today's trading session.

Broadcast on:

10 Aug 2023