Makemyinvest Tradesting Newsletter
Weekly Learning & Market Insights – Issue #014
​08 Aug 2026

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Direction • Decision • Discipline

Sector Spotlight

The Week That Moved Markets

1. State Bank of India

• SBI reported a 10% year-on-year rise in Q1 FY27 profit, beating expectations, while total business crossed the ₹110 trillion mark.

2. Bharti Airtel

• Bharti Airtel reported strong Q1 FY27 operating performance, with revenue and profit growth supported by its India telecom business.

3. BSE

• BSE reported strong Q1 FY27 performance, with revenue and profit rising sharply as activity across the equity and derivatives markets remained strong.

4. Castrol India

• Castrol India reported strong Q1 performance with higher revenue and profitability and announced an interim dividend, keeping the lubricant segment in focus.

5. Marico

• Marico reported double-digit revenue and profit growth for Q1 FY27, supported by improved operating margins and better business momentum.

6. Nykaa

• Nykaa reported a strong Q1 FY27 performance, with substantial year-on-year profit growth and continued momentum across its beauty and e-commerce businesses.

7. Happy Forgings

• Happy Forgings reported its highest-ever quarterly revenue, EBITDA, profit before tax and net profit, highlighting strong demand across its manufacturing business.

8. Tata Power

• Tata Power began work on an 800 MW renewable energy project in Andhra Pradesh involving wind and solar capacity, reinforcing its expansion in clean energy.

9. Larsen & Toubro

• L&T secured a major package linked to NTPC’s 1,600 MW Lara power project, adding to its large infrastructure and power-sector order pipeline.

10. Max Healthcare

• The NCLT Cuttack Bench allowed rectification in a procedural matter connected with a legal dispute involving Max Healthcare, removing a procedural hurdle in the case.

🌍 Major Global Developments This Week

11. U.S. Russia Sanctions Bill

• The U.S. Senate passed a Russia sanctions bill that includes provisions allowing tariffs of up to 100% on countries significantly dependent on Russian energy, including India and China.

12. India-U.S. Trade Risk

• The proposed sanctions-related tariff provisions have introduced additional uncertainty for India-U.S. trade and sectors with significant exposure to the American market.

13. Strait of Hormuz

• Diplomatic discussions between Iran and Oman showed signs of progress toward restoring movement through the Strait of Hormuz, a critical route for global energy shipments.

14. Middle East Energy Security

• Continued uncertainty around the Strait of Hormuz kept global energy markets sensitive to shipping disruptions and potential changes in crude and fuel supplies.

15. Japan and Currency Markets

• The yen remained under pressure near multi-decade lows, prompting coordinated U.S.-Japan currency intervention and renewed attention on global foreign-exchange stability.

16. Global Technology Earnings

• Global technology earnings continued to highlight the scale of AI-related capital expenditure, while investors remained focused on whether heavy AI spending can translate into sustainable business returns.

🏛️ Economic & Policy Developments

17. Reserve Bank of India

• The RBI kept the repo rate unchanged at 5.25% and maintained a neutral stance, signaling a data-dependent approach amid changing inflation and global risks.

18. U.S. Employment Data

• The U.S. economy unexpectedly lost 23,000 jobs in July, while unemployment edged down to 4.1%; previous months were also revised lower, pointing to softer labor-market conditions.

19. U.S. Interest Rate Expectations

• The weaker U.S. employment report reduced expectations for near-term monetary tightening and pushed the dollar lower, increasing focus on upcoming inflation data.

20. India Inflation Outlook

• Indian inflation remained a key policy focus as food-price pressures and uneven rainfall raised concerns about the direction of consumer prices ahead of the July CPI release.

21. F&O Closing Mechanism

• India introduced an auction-based closing mechanism for stocks in the futures and options segment from August 3, replacing the earlier 30-minute average-based closing process.

🛢️ Commodities & Currency Developments

22. Crude Oil

• Oil markets remained volatile as geopolitical risks around the Middle East and the Strait of Hormuz continued to affect expectations for global supply and shipping flows.

23. Natural Gas

• Natural gas markets remained sensitive to shipping disruptions and broader energy-supply risks, particularly because of uncertainty surrounding Middle Eastern routes.

24. Gold

• Gold remained supported by safe-haven demand and changing expectations for U.S. monetary policy, while movements in the dollar and Treasury yields continued to influence prices.

25. Silver

• Silver continued to move alongside broader precious-metals markets while also reflecting expectations for industrial demand and global economic activity.

26. U.S. Dollar Index

• The Dollar Index weakened after the unexpectedly soft U.S. jobs report as markets reassessed the likelihood of near-term Federal Reserve tightening.

27. Japanese Yen

• The yen’s slide toward a 40-year low prompted U.S.-Japan intervention, highlighting growing concern over currency-market volatility and its implications for global capital flows.

📖 Why It Matters

• Trade policy is becoming a bigger market factor: Proposed U.S. sanctions-related tariffs add another layer of uncertainty for Indian exporters and global supply chains.
• Oil remains a key macro variable: Developments around the Strait of Hormuz can influence crude prices, inflation, the rupee and corporate input costs.
• Central banks remain data-dependent: The RBI’s rate hold and softer U.S. employment data keep inflation and monetary-policy expectations at the center of market discussions.
• Corporate earnings are driving stock-specific sentiment: Strong quarterly performances across banking, telecom, consumer, exchange and manufacturing sectors are providing fresh signals on business activity.
• Currencies are increasingly important: Movements in the dollar, yen and rupee can influence foreign flows, commodities, imported inflation and the broader risk environment.

Concept of the Week

Vega — The Volatility Sensitivity of an Option

Vega measures how much an option's premium is expected to change when Implied Volatility (IV) changes by 1 percentage point, assuming other factors remain constant.

How Vega Works

Suppose a NIFTY option has:

• Premium = ₹150
• Vega = ₹8

If IV increases by 1%, the option premium may increase by approximately ₹8, from ₹150 to ₹158.

If IV falls by 1%, the premium may decrease by approximately ₹8, from ₹150 to ₹142.

Who Benefits?

Option Buyers

• Generally benefit when IV rises.
• Can be hurt when IV falls, even if the underlying moves in the expected direction.

Option Sellers

• Generally benefit when IV falls.
• Face greater risk when IV suddenly expands.

Where Is Vega Important?

Vega tends to be more significant when:

• The option has more time until expiry.
• The market is expecting a major event.
• IV is changing rapidly.

For example, before an RBI policy, Budget, election result, or major corporate event, IV can rise as traders anticipate a larger move.

Example

You buy a Call Option expecting NIFTY to rise.

NIFTY does move up—but at the same time, IV drops sharply.

Your option may gain less than expected or even lose value, because the fall in IV reduces the premium.

Key Takeaway

• Delta tells you about price movement.
• Theta tells you about time decay.
• Vega tells you about volatility.

Community Win

Wisdom of the Week

Learning Takeaway

• Compounding works best when time and consistency are allowed to do their work.
• Frequent decisions driven by short-term noise can disrupt a sound long-term process.
• The lesson is simple: focus on building good financial habits and give them enough time to compound.

My Content of This Week

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​YouTube Video Link​

​Twitter Post Link​

Book I Am Reading and Recommend

Keep Learning. Keep Tradesting!!! 🚀

Cheers,
​Tapas Chandra
​SEBI Registered Research Analyst | INH000026381
PGP (Research Analysis) | CMT Level-2 Cleared |
Author – Invest or Regret | Ex-JPMorgan Chase

Questions, insights, or lessons from the markets this week?
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