Aureva Capital - Weekly Newsletter - 23rd Aug 2026
In our weekly wrap for August 23, 2026, Nifty and Sensex slip amid surging US Treasury yields and geopolitical tensions. Meanwhile, gold hits multi-month highs, the rupee remains firm, and broader small-cap indices show resilience.
MARKET UPDATE
23 August 2026
Weekly Wrap: Nifty slips for a second straight week, gold hits multi-month high, and the rupee holds firm as global bond yields surge
Here is your weekly market update — a
snapshot of where major indices, commodities and currencies stand, followed by
the key developments across companies, commodities, FX and the economy this
week.
1. INDICES PERFORMANCE
Indian equities registered a second consecutive weekly decline amid elevated crude oil prices, rising US 10-year Treasury yields and geopolitical concerns around the US-Iran conflict. The Nifty 50 and Sensex fell 0.5% and 0.6% WoW respectively, while broader markets were more resilient — Nifty Smallcap 250 advanced 0.4%. Sectorally, only Realty, Metal and Bankex ended in the green; Capital Goods, Power, FMCG and IT were the key laggards. (3M/6M/12M change was not published for domestic indices in this week's source data.)
Benchmark Indices — 1-Week % Change
| Index | Level | 1W % |
| Nifty 50 | 24,252.0 | (0.5) |
| Sensex | 77,540.8 | (0.6) |
| Nifty Midcap 150 | 17,282.1 | 0.0 |
| Nifty Smallcap 250 | 7,242.5 | 0.4 |
Sectoral Indices — 1-Week % Change
| Index | Level | 1W % |
| BSE Realty | 7,108.5 | 1.6 |
| BSE Metal | 41,795.6 | 0.6 |
| BSE Bankex | 65,368.8 | 0.2 |
| BSE Auto | 64,260.7 | (0.5) |
| BSE Cons Durables | 65,276.3 | (0.6) |
| BSE Oil & Gas | 26,090.6 | (0.7) |
| BSE PSU | 20,729.2 | (0.8) |
| BSE Healthcare | 50,545.2 | (0.8) |
| BSE Capital Goods | 79,219.8 | (1.1) |
| BSE Power | 7,541.7 | (1.3) |
| BSE FMCG | 17,980.5 | (1.7) |
| BSE IT | 29,334.1 | (2.6) |
Global Market Update
Wall Street had a challenging week as investors grappled with sharply rising US Treasury yields, concerns over the ballooning US debt burden, and escalating Middle East tensions. The 10-year US Treasury yield hovered near 4.7% while the 30-year touched almost 5.25%. Asian markets were mixed — Hang Seng gained over 3.5% for the week even as the Nikkei fell almost 4%.
| Index | Last Price | 1W % | 1M % | 3M % | 6M % | 12M % |
| DJIA (USA) | 52,759.2 | (1.8) | 1.0 | 4.3 | 6.3 | 17.8 |
| Nasdaq (USA) | 26,067.2 | (2.5) | 1.5 | (1.1) | 13.9 | 23.5 |
| S&P 500 (USA) | 7,641.2 | (1.9) | 1.9 | 2.2 | 10.6 | 20.0 |
| Russell 2000 (USA) | 2,992.4 | (2.5) | 1.1 | 4.3 | 12.3 | 31.6 |
| DAX (Germany) | 25,983.0 | (1.7) | 3.3 | 4.4 | 2.9 | 7.0 |
| CAC (France) | 8,453.1 | (2.1) | 0.2 | 4.2 | (0.7) | 6.5 |
| FTSE 100 (UK) | 10,748.2 | 0.0 | 0.3 | 2.7 | 0.6 | 15.5 |
| STOXX Europe 600 | 650.4 | (1.1) | 0.5 | 4.0 | 3.1 | 16.3 |
| Nikkei (Japan) | 66,016.4 | (3.9) | (0.2) | 4.2 | 16.2 | 54.9 |
| Hang Seng (HK) | 26,009.5 | 3.6 | 4.5 | 1.6 | (1.5) | 3.6 |
| Shanghai Composite | 3,905.2 | (0.6) | 1.0 | (5.0) | (4.3) | 3.6 |
| KOSPI (Korea) | 6,913.0 | (0.9) | 1.7 | (11.9) | 19.0 | 120.0 |
Global Commodity Update
Safe-haven demand strengthened considerably, with gold advancing over 5% during the week to trade near a two-and-a-half month high amid fiscal-imbalance and sovereign-debt concerns. Brent crude remained elevated near $93.8/bbl on ongoing geopolitical uncertainty, while copper eased on rising LME inventories.
| Commodity | Last Price | 1W % | 1M % | 3M % | 6M % | 12M % |
| Brent Crude ($/bbl) | 93.8 | 5.9 | (0.3) | (9.4) | 30.7 | 38.6 |
| Natural Gas ($/mmBtu) | 2.8 | 1.5 | (4.7) | (4.6) | (4.5) | (2.4) |
| Coal - Newcastle ($/Ton) | 138.3 | 1.6 | (0.2) | (3.7) | 11.7 | 12.7 |
| Copper LME ($/Ton) | 14,113.2 | (3.2) | 2.2 | 3.7 | 9.6 | 46.3 |
| Aluminium LME ($/Ton) | 3,191.9 | (1.8) | (0.5) | (14.2) | 3.7 | 23.5 |
| Gold ($/Troy Oz) | 4,516.6 | 3.2 | 9.4 | 0.2 | (11.6) | 35.3 |
| Silver ($/Troy Oz) | 68.1 | 5.3 | 14.0 | (9.9) | (19.6) | 78.5 |
| Raw Sugar ($/lb) | 17.5 | 5.5 | 18.9 | 19.2 | 22.5 | 7.2 |
2. COMMODITIES & FX
Commodities
Gold prices were set for a third consecutive weekly gain of 3.6%, supported by a weaker US dollar and Treasury bond buybacks. Softer jobs and inflation data reduced expectations of further Fed tightening, with markets pricing a 64% chance of unchanged rates next month; gold's outlook stays constructive if yields and the dollar ease ahead of the September Fed meeting. Crude oil posted a second consecutive weekly gain — Brent up over 7% and WTI over 8% — as the prolonged US-Iran conflict disrupted Middle East supply, and elevated tensions should keep the near-term outlook biased upward. Copper was set for a 3% weekly decline as rising LME inventories eased supply tightness, though potential US tariffs and structural demand from new energy, grids and data centres remain supportive longer term.
FX
The US dollar was set for a weekly decline of over 0.8%, pressured by Treasury buybacks, softer economic data and lower September Fed hike expectations, with concerns over the US fiscal outlook and institutional credibility also weighing on the greenback. The Indian rupee was set for a modest weekly decline as elevated oil prices and corporate hedging flows outweighed continued RBI intervention. Looking ahead, the rupee's depreciation bias is likely to persist, with prolonged high crude prices threatening India's import bill, external balances and inflation.
3. INDIAN COMPANIES UPDATE — TOP 15
• Tata Steel completes acquisition of an additional 23% stake in TM International Logistics for Rs 335 crore, raising its holding to 74% and making TMILL a subsidiary.
• Hindustan Copper plans capital investment of over Rs 7,000 crore over the next 5–6 years, covering exploration and mine-revival initiatives to bolster domestic mineral security.
• L&T Finance plans to open 500 new gold-loan branches this financial year, building on its entry into the segment via the Paul Merchants Finance acquisition.
• Maruti Suzuki's Fronx crosses 2 lakh exports in under 38 months — the fastest Indian-made SUV to the milestone, and the country's top exported passenger vehicle since FY25.
• Bharti Airtel: Shabnam Sinha to succeed Sunil Bharti Mittal as Chairperson.
• Hyundai Motor India to raise vehicle prices by up to 1% across its portfolio from September 2026, citing rising input, commodity and operating costs.
• IRDAI approves the reappointment of Vibha Padalkar as Managing Director & CEO of HDFC Life for a further five-year term.
• Aditya Infotech's board approves raising up to Rs 1,500 crore via public issue(s), QIP or other methods.
• Kfin Technologies: General Atlantic Singapore offloads a 1.51 crore-share (8.8%) stake via block deal worth around Rs 1,400 crore.
• Amagi Media Labs: existing investors likely to sell a combined 5% stake via block deal worth around Rs 600 crore at a floor price of Rs 550/share.
• Torrent Power appoints Vikas Poddar as Chief Financial Officer, effective August 21, following Saurabh Mashruwala's planned retirement.
• Niva Bupa Health Insurance barred by IRDAI from opening new places of business for six months after breaching FY25 Expense-of-Management limits.
• InterGlobe Aviation retains dominance of India's domestic aviation market with a 67.4% share in July, carrying 80.82 lakh passengers.
• India's crude oil imports rose over 9% MoM in July to 21.41 million metric tons, government data showed.
• BSE enters an agreement with MSCI to explore the launch of futures and options contracts in India linked to MSCI indexes, subject to regulatory approvals.
4. GLOBAL COMPANIES UPDATE
• S&P 500 ESG Index: Tesla was dropped from the index in its annual update, while Apple, Microsoft, Amazon and Exxon Mobil remained on the list; the index ranks companies using environmental, social and governance data spanning customers, employees, vendors and partners.
• Grab: the Southeast Asian super-app cut its quarterly losses for the first time in 18 months, sending shares up 24%. The Singapore-based group — which listed via one of the world's largest SPAC deals at a $40bn valuation — reported a $435mn first-quarter loss, 60% narrower than the prior quarter and its first improvement since Q3 2020.
• Google: the company's Russian subsidiary plans to file for bankruptcy after authorities seized its bank account, following a series of clashes between Moscow and the US tech giant over content on its platforms; Google said the seizure made it untenable for its Russia office to continue employing staff, paying suppliers and meeting other financial obligations.
5. QUARTERLY RESULTS FOR NEXT WEEK
This week's Weekly Wrap from SBI Securities did not carry a dedicated corporate-results calendar for the coming week; 1QFY27 earnings momentum through the season has, however, remained broadly healthy and continues to underpin stock-specific opportunities even as benchmark indices consolidate. Investors should track exchange filings for the latest scheduled results, alongside India's Jul'26 IIP data due on 28 August.
6. ECONOMIC CALENDAR FOR NEXT WEEK
| Date | Country | Event | Previous | Forecast |
| 25-Aug | US | ADP Employment Change (Weekly) | 9.50K | — |
| 26-Aug | US | Core PCE Price Index (YoY, Jul) | 3.3% | — |
| 26-Aug | US | GDP QoQ (Q2) | 2.1% | 1.5% |
| 26-Aug | US | Personal Spending MoM (Jul) | 0.3% | — |
| 26-Aug | US | PCE Price Index YoY (Jul) | 3.7% | — |
| 26-Aug | US | Core PCE Prices (Q2) | 3.4% | — |
| 26-Aug | US | Crude Oil Inventories | 4.405M | — |
| 27-Aug | US | Initial Jobless Claims | 206K | 210K |
| 27-Aug | US | Jackson Hole Symposium | — | — |
| 28-Aug | JP | Tokyo Core CPI YoY (Aug) | 1.7% | — |
| 28-Aug | IN | Industrial Production YoY (Jul) | 7.3% | 5.7% |
| 28-Aug | US | Michigan 1-Yr Inflation Expectations (Aug) | 4.3% | 4.3% |
| 28-Aug | US | Michigan 5-Yr Inflation Expectations (Aug) | 3.3% | 3.3% |
For information and education only; not
investment, tax, or legal advice or an offer to buy or sell any security.
Mutual fund and securities investments are subject to market risks; past
performance does not guarantee future results.