Nifty 50 slipped to 24,470.90 in the mid-session, down 0.46%, as banking and financial stocks led the retreat while IT and metals held firm. Hopes for a US-Iran deal on reopening the Strait of Hormuz dimmed, sending crude oil higher and reviving inflation worries across markets. Here’s your midday markets snapshot.
📊 Mid-Session Market Action
The Nifty 50 was down 112.90 points (-0.46%) at 24,470.90, while the Sensex fell 362.57 points (-0.46%) to 78,177.87 as of 11:00 AM. The Nifty Bank index dropped around 0.7%, with the Nifty Private Bank and Nifty Financial Services indices also underperforming. Top losers on the Nifty 50 included InterGlobe Aviation, Bajaj Finance and Shriram Finance, while Federal Bank, Axis Bank and IndusInd Bank led declines in the private banking pack — AU Small Finance Bank also weighed on sentiment. Bucking the trend, Nifty IT and Nifty Metal outperformed, cushioning the broader fall as traders rotated out of rate-sensitive financials.
₿ Crypto Pulse — 11 AM Update
Bitcoin continues to struggle below the $65,000 mark, failing to hold the level for a fourth straight session as the crude oil rally revives inflation worries ahead of Wednesday’s US price data. In rupee terms, BTC is trading in the ₹61-63 lakh range across major exchanges. Ethereum is holding near ₹1,78,866 (about $1,877), down roughly 2.2% over the past 24 hours. On the regulatory front, the CLARITY Act failed to reach a Senate vote before the August recess, though crypto bill talks are reportedly picking up momentum. XRP is under pressure as ETF inflows slow, while Solana got a boost from its first Strategy STRC product via Solstice Finance.
💰 Live Rates — 11 AM IST
| Asset | Price | Change |
|---|---|---|
| Nifty 50 | 24,470.90 | -0.46% |
| Sensex | 78,177.87 | -0.46% |
| Bitcoin (BTC) | ₹61-63L / ~$65,000 | Flat to lower, 4th day below $65K |
| Ethereum (ETH) | ₹1,78,866 / ~$1,877 | -2.2% (24hr) |
| Gold (10g, 24K) | ₹1,52,100 | Firm |
| Silver (1kg) | ₹2,45,000 | Firm |
| USD/INR | ₹95.30 | Broadly stable |
| Crude Oil (Brent) | $87.78 | Higher on Hormuz uncertainty |
📰 Top 5 Stories Making Markets Move Today
- US-Iran Hormuz deal hopes fade, oil rallies. Uncertainty over talks to reopen the Strait of Hormuz has pushed Brent crude toward $88, reviving inflation concerns that are weighing on rate-sensitive Nifty Bank and financial stocks.
- Dr Reddy’s Labs tumbles to 52-week low. Shares fell as much as 9% after disappointing Q1 results, making it one of the session’s steepest decliners among pharma majors.
- Ola shares skid 6% post Q1 results. The stock came under heavy selling pressure after its latest quarterly show, with brokerage Emkay flagging as much as 27% further downside risk.
- Government eases UPI merchant charges. Finance Minister Nirmala Sitharaman said the Merchant Discount Rate (MDR) will going forward apply only to select merchant UPI transactions, alongside new RBI rules tightening loan recovery practices.
- Q1 earnings season in full swing. Bharat Forge, Hindustan Copper and several other companies reported first-quarter results today, adding to a heavy earnings-linked stock-specific movement across the market.
🎯 Afternoon Watch List
Keep an eye on Nifty 50 support near 24,400 and resistance around 24,600-24,650 — a break either way could set the tone into the close. Crude oil and any fresh headlines on the US-Iran Hormuz negotiations remain the key macro trigger, given their direct read-through to inflation expectations and banking stocks. On the crypto side, watch whether Bitcoin can reclaim $65,000, and track further Q1 earnings reactions in pharma (after Dr Reddy’s slide) and new-age tech names (after Ola’s fall).
Data sourced from live market feeds. Last updated: 11:00 AM IST, 11 August 2026. This is for informational purposes only and not investment advice.
