The Prime Daily: 11 August 2026

U.S. stocks pulled back from record highs Monday as renewed uncertainty over the Strait of Hormuz reignited inflation fears ahead of this week’s CPI report. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all closed modestly lower, snapping a two-week rally that had carried the S&P to a record close near 7,758.

AI-related names came under pressure after reports that Nvidia is working with major private equity firms on a financing initiative to mobilise more than $500 billion in third-party capital for hyperscalers, frontier AI labs, and enterprises building out data centres and buying Nvidia hardware. Nvidia shares slipped about 3% on the news. By channelling institutional credit, insurance capital, and private funding into underwriting GPUs and data centres, the arrangement lets customers finance AI infrastructure without straining their own balance sheets.

WTI and Brent crude climbed to $82 and $88 a barrel, respectively, after President Trump demanded compensation from Iran, dimming hopes of a near-term reopening. No agreement has materialised, and positions in Washington and Tehran have hardened.

The rally has pushed the 10-year Treasury yield to 4.71% and revived inflation concerns heading into Thursday’s CPI print.

Adding to the policy picture, a surprise 23,000-job contraction in July nonfarm payrolls has led traders to sharply pare bets on a September rate hike, with markets now leaning toward the Fed holding steady.

Asian markets opened mixed today. Japanese markets are shut today for Mountain Day.

Indian E-way bill generation continued to signal sustained economic activity, rising 5.98% YoY to 139.79 million in July 2026 from 131.91 million a year earlier — the second-highest monthly level on record, just below March 2026’s peak of 140.60 million. Sequentially, generation rose 2.21% from 136.77 million in June, even as growth moderated to 12.4% in Q1FY27 from 15.7% in Q4FY26.

The Nifty witnessed a volatile, range-bound session on Dalal Street, closing at 24,583, up 13 points in yesterday’s session. It continues to oscillate between its 200-day SMA at 24,758 and 200-day EMA at 24,384. The primary trend remains bullish, with the index trading above its key near-term averages. A decisive break away from this range is likely to trigger a sharper directional move in the index.