From Gift Nifty to Oil prices, Asian banking stocks rally: 8 key things that changed for Indian stock market overnight | Stock Market News
The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a cautious bias on Tuesday, 11 August.
Asian markets traded mixed on Tuesday, meanwhile, US stock futures also edged lower overall.
On Monday, the Indian stock market closed largely flat on Monday, 10 August, as gains in select heavyweight stocks such as Titan, Bajaj Finance and ICICI Bank were largely offset by declines in SBI and Reliance.
Trading remained marked by stock- and sector-specific movements, with geopolitical uncertainties and elevated crude oil prices keeping investor sentiment cautious. The Sensex gained 43 points, or 0.06%, to close at 78,542, while the Nifty 50 edged up 13 points, or 0.05%, to settle at 24,583.80.
“Markets traded volatile on Monday and ended almost unchanged as investors balanced easing concerns over the global interest-rate outlook against renewed pressure from crude oil prices and geopolitical uncertainties. After a steady start, the Nifty oscillated between gains and losses through the session before recovering from the day's lows. The index eventually settled at 24,583.80, up 0.05%, while the Sensex closed at 78,542.44, gaining 0.06%,” said Ajit Mishra – SVP, Research, Religare Broking.
Asian markets traded mixed on Tuesday as concerns mounted over a prolonged disruption to energy supplies through the Strait of Hormuz.
South Korea’s Kospi declined 1.09% in intraday trade, while Hang Seng futures gained 0.55%. Japan’s markets remained shut for Mountain Day, a national holiday observed on the second Monday of August.
Hong Kong’s Hang Seng futures edged up from the index’s previous close of 25,937.49. Meanwhile, futures for Australia’s benchmark S&P/ASX 200 were largely unchanged.
Gift Nifty was trading around the 24,621.50 level, a discount of nearly 10 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
Stock futures were largely unchanged in overnight trading on Monday as investors assessed signs of progress toward reopening the Strait of Hormuz, while remaining cautious about whether the US and Iran could reach a broader agreement to resolve the conflict.
Dow Jones Industrial Average futures slipped 37 points, while S&P 500 futures edged lower and Nasdaq 100 futures remained close to the flatline.
The subdued moves followed a largely flat session for the S&P 500 on Monday, with ongoing uncertainty surrounding the conflict in the Middle East continuing to weigh on market sentiment.
Asian banking stocks posted one of their strongest rallies in decades as investors shifted away from the volatile AI trade and turned to defensive plays. Banks gained favour due to their attractive dividend yields, stable earnings and strong links to domestic economies.
The MSCI Asia Pacific Financials Index jumped 8.6% in July, marking its biggest-ever monthly outperformance over the technology gauge. It also recorded its strongest monthly lead over the broader regional index since October 1998, when Japan unveiled a major bank rescue package in the aftermath of the Asian financial crisis.
Hong Kong’s financial stocks recorded their best monthly performance in nearly four years, while Japanese banks gained more than twice as much as the benchmark Topix this year. The trend was also reflected in the US, where the financial sector of the S&P 500 repeatedly touched record highs during the year.
Japan stood out as the region’s strongest performer, with the Topix bank sub-index surging more than 40% so far this year, more than double the benchmark’s roughly 20% gain.
Oil prices held steady on Tuesday near their highest levels in more than a week as hopes of a US-Iran agreement to end the conflict and reopen the Strait of Hormuz weakened. The outlook turned more uncertain after US President Donald Trump called for Iran to compensate for damages incurred by the United States.
Brent crude futures were unchanged at $87.81 a barrel, while US West Texas Intermediate (WTI) crude futures remained at $82.20 a barrel.
Both benchmarks had surged more than 5% on Monday, reaching their highest levels since July 31.
US President Donald Trump has demanded that Iran compensate the United States for people killed in conflicts, after Tehran renewed its call for reparations as part of negotiations aimed at bringing the conflict to an end.
Trump said in a social media post that the new demands would be included “firmly” in any future negotiations. The tougher position reduces the likelihood of Washington and Tehran reaching an immediate agreement that could help end the war and facilitate the reopening of the Strait of Hormuz.
The Middle East conflict, coupled with the ongoing Russia-Ukraine war, has disrupted oil refinery operations and tightened diesel supplies, pushing prices higher in both Europe and the US on Monday.
Iran and Oman have been engaged in negotiations over reopening the strategic waterway. However, Tehran reiterated on Monday that any agreement would require the US to lift its blockade and provide compensation for the damages caused. Before the war, the Strait of Hormuz carried roughly one-fifth of the world's oil and liquefied natural gas shipments to global markets.
Amid ongoing earnings season, more than 300 companies are scheduled to report their April-June quarter earnings on Tuesday, 11 August.
Rail Vikas Nigam (RVNL), Zydus Lifesciences, MRF, Senco Gold, NBCC (India), Manappuram Finance are among the companies to declare their Q1 results 2026 today.
Gold climbed to a two-month high above $4,400 an ounce ahead of a crucial US inflation report that could offer fresh insight into the Federal Reserve’s stance on interest rates.
Bullion edged up in early trading after gaining 3.6% over the previous two sessions. Spot gold rose 0.5% to $4,410.92 an ounce.
The precious metal has moved back above the key $4,000-an-ounce level in recent weeks, supported by renewed investor demand and increased purchases by central banks. However, despite the recent recovery, gold remains around 17% below its level before the Iran war began in late February.
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Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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