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Top stock market recommendations: Ambuja Cements, Asahi India Glass, and Pfizer - these stocks have been identified as the top buy calls for August 6, 2026 by Aakash K Hindocha, Vice President - Research, Nuvama Professional Clients Group/Nuvama Wealth Management. The expert has also shared outlook on Nifty50 and Bank Nifty:
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The government has authorised the Reserve Bank of India to print up to 2 billion polymer (plastic) notes - 1 billion each in the Rs 10 and Rs 20 denominations for field trials. At present, there is no proposal to replace paper currency entirely.
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The Enforcement Directorate is investigating 32 bank fraud cases with 54 absconding accused. Proceedings under the Fugitive Economic Offenders Act have been launched against 27 individuals. Assets worth over Rs 840 crore have been confiscated after nine were declared offenders. Unclaimed bank deposits transferred to the RBI fund total Rs 62,683.19 crore. India's foreign exchange reserves remain comfortable, covering 10.3 months of goods imports.
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Merchant Discount Rate (MDR) is the fee merchants pay to banks and payment service providers for processing digital transactions. In India, credit card payments generally attract an MDR of around 1.5%.
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Nifty also saw a significant rise in the last twenty minutes of trading. The Indian rupee remained nearly unchanged against the US dollar. Dollar demand from importers and state-run banks increased during the session.
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August brings numerous bank holidays across India, affecting branch operations. Banks will close on specific dates due to regional festivals and national observances. Customers should verify local branch availability before planning visits. Digital banking services will remain accessible throughout these holiday periods. Plan branch-specific transactions in advance to avoid any inconvenience.
11:10 AM
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The Indian rupee strengthened against the US dollar on Monday morning. Falling global crude oil prices and a weaker US dollar supported the rupee's rise. Foreign fund inflows and higher forex reserves also provided additional support. Easing geopolitical concerns after US President Donald Trump delayed strikes on Iran helped markets. The Reserve Bank of India's continued intervention further bolstered the currency's performance.
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The Reserve Bank of India has revised rules for bulk deposits, effective October 2026. Banks can now offer differential interest rates based on liquidity risk under the LCR framework. This move aligns deposit pricing with revised LCR guidelines for better asset-liability management. Mandatory daily public disclosure of bulk deposit rates will enhance transparency for customers. However, uniform rates will continue for similarly placed depositors across all branches.
4:10 PM
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The stock market faces a crucial week with key domestic and global events. The Reserve Bank of India's interest rate decision is a major focus for investors. Geopolitical developments in West Asia and crude oil prices will also influence sentiment. Several large companies are set to announce their quarterly earnings results. Foreign investors turned net buyers in July, supporting market confidence.
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In a significant move, Capital One has closed the Trump Organization's accounts, citing anti-money laundering concerns backed by detailed analysis and adherence to internal policies. This action occurs amidst ongoing legal disputes initiated by the Trump Organization, which accuses the bank of discriminatory 'debanking' based on 'woke' ideologies. Capital One is now seeking dismissal of these claims, labeling them as fundamentally misguided.
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Total forex mobilization under RBI's concessional dollar swap facility has exceeded forty billion dollars. This amount more than doubled in just a fortnight, surpassing previous deposit drives. Foreign Currency Non-Resident (Bank) deposits formed the largest portion of these inflows. The facility encourages overseas fund mobilization and boosts foreign exchange reserves. This scheme remains available until late 2026 for various deposit types.
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Foreign investors are showing renewed interest in Indian equities after significant outflows. Geopolitical uncertainties and elevated oil prices continue to pose risks to the outlook. India's domestic economy demonstrates robust performance with healthy sales and credit growth. The Reserve Bank of India is expected to align its monetary policy with the US Federal Reserve. Delays in bond index inclusion reflect global market dynamics, not India's debt concerns.
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RBI has already floated the tender to source materials for the polymer notes with its currency printing arm Bharatiya Reserve Bank Note Mudran Pvt Ltd inviting global expressions of interest. The step assumes significance because India has discarded around Rs 50 trillion worth of soiled notes in the last decade.
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Banks collected nearly Rs 7,100 crore in minimum balance penalties during FY26. Private banks gathered Rs 4,948 crore, a significant increase from the previous year. HDFC Bank alone levied Rs 1,800 crore in charges from its customers. Ten public sector banks have discontinued these penal charges on savings accounts. Overall, banks notified customers before applying these charges to accounts.
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The process to file the income tax return has evolved over the last few years and the income tax portal now pre-fills a lot of your tax related information drawing from information in documents such as Form 16, Form 26AS, Annual Information Statement (AIS), bank records etc.
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Public sector banks report significant financial improvements and record profits. Bad debt levels have fallen to their lowest point in decades. The government has supported banks through capital infusions and legislative measures. Credit growth has accelerated across various economic sectors. Schemes like ECLGS continue to support businesses and credit flow.
8:10 AM
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The government has allowed the Reserve Bank of India to print two billion polymer notes. These new polymer notes will be printed for field trials and regular issuance. The minister stated that paper and polymer currency will coexist in circulation. RBI is currently sourcing materials for these polymer banknotes. This initiative aims to enhance the lifespan of currency in circulation.
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HDFC Bank's board penalized top executives over deposit arrangements with MSRDC. The internal review found business overreach but no personal gain or mala fide intent. Top executives received nominal penalties and warning letters following the review's recommendations. This action comes as the RBI pushes boards for greater oversight and before the CEO's term ends. The bank will formally communicate the matter and its findings to the Reserve Bank of India.
10:10 PM
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The board also issued warning letters to the other employees involved in the case, which relates to the mobilisation of large deposits from MSRDC between 2017 and 2021 through the alleged payment of around Rs 45 crore under the head of marketing expenses.
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Analysts anticipate the Indian rupee entering a stable phase soon. Global crude oil prices will continue to significantly influence the currency's movement. Sustained high oil prices may increase inflation and widen India's current account deficit. However, a steep depreciation in the rupee is not expected by experts. The Reserve Bank of India's monetary policy meeting in August is also a key event.
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Stock market recommendations: Federal Bank, and TVS Motors - Motilal Oswal Wealth Management Research Desk has recommended these two stocks as the top stock picks for the July 27, 2026 week:
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BNP Paribas Cardif is acquiring a significant stake in IndiaFirst Life Insurance. This strategic investment marks Warburg Pincus's exit from the life insurer. The French insurer brings extensive global bancassurance expertise to the partnership. IndiaFirst Life will now operate as a three-way venture with two public sector banks. This collaboration aims to expand access to protection and savings solutions across India.
11:10 PM
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Gold and silver prices are set for a week driven by major events. The US Federal Reserve's interest rate decision will be a key factor. Geopolitical tensions involving Iran and crude oil price movements also impact markets. Investors will monitor US economic data and central bank announcements globally. Bullion is expected to remain range-bound as traders watch these developments.
4:10 PM
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Indian stock markets experienced a significant downturn last week. Nine of the ten most-valued companies saw their market worth decline. HDFC Bank faced the largest valuation drop, while Hindustan Unilever gained value. Benchmark indices like the BSE Sensex and NSE Nifty also registered losses. This market pressure was attributed to rising crude oil prices and geopolitical concerns.
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Indian stock markets closed lower for a fifth consecutive session on Friday. Rising oil prices and Middle East tensions fueled investor caution and market pressure. Foreign institutional investors continued their selling trend, impacting market sentiment negatively. Renewed concerns over US trade tariffs also contributed to the overall market decline. Selling in heavyweight stocks like Infosys and HDFC Bank added to the day's losses.
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The Indian Rupee recovered 22 paise against the US dollar in early trade. This recovery occurred despite crude oil prices breaching the $100 a barrel mark. The Reserve Bank of India's intervention likely helped stabilize the domestic currency. Foreign institutional investor outflows and weak domestic equities capped further gains for the Rupee. Brent crude prices rose amid escalating Middle East tensions and shipping route clashes.
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Axis Asset Management Company is acquiring Axis Securities' portfolio management services business. This strategic move significantly expands their alternative investments platform and investor base. The combined portfolio management services assets under management will now exceed fifteen thousand crore rupees. The entire portfolio management services team has transitioned to Axis Asset Management Company. This acquisition strengthens their position in the growing alternatives investment segment.
11:10 AM
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The Indian rupee saw a slight gain against the US dollar on Thursday. Rising crude oil prices continue to exert pressure on the currency. The Reserve Bank of India's intervention is expected to limit sharper losses. Foreign investors showed mixed sentiment in Indian equities and bonds. Stock markets opened on a weak note, with key indices falling.
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The Indian rupee opened lower on Wednesday, facing pressure from rising crude oil prices. Geopolitical tensions and demand for safe-haven assets also weighed on the domestic currency. The Reserve Bank of India's measures are helping to cushion the rupee's decline. Meanwhile, Indian stock markets experienced a downturn in early trade. Foreign institutional investors remained net buyers of equities on Tuesday.
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RBI deputy governor Swaminathan J expressed concern over banks bypassing internal ombudsman. He stated that many customer grievances resolved by the RBI ombudsman were never referred internally. This situation undermines the purpose of the internal ombudsman framework, he noted. Banks must refer all eligible complaints promptly and without exception to their internal ombudsmen. Effective internal ombudsman performance should naturally reduce external escalations and provide customer resolutions.
11:10 PM
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The Reserve Bank of India's special swap facility attracted $20.72 billion by July 17. Most of this money arrived through Foreign Currency Non-Resident deposits. Overseas Foreign Currency Borrowings and External Commercial Borrowings also contributed to inflows. This facility was launched to strengthen India's balance of payments and encourage capital. Banks anticipate a significant rise in FCNR(B) deposits before the September deadline.
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IDBI Bank reported a 3.3% rise in standalone net profit for June 2026 quarter. Lower provisions supported earnings, offsetting a weaker operating profit. Net interest income saw a slight decline while non-interest income dropped significantly. Deposits decreased sequentially, but advances showed modest growth. Asset quality remained stable with improved NPAs and strong capital ratios.
2:10 PM
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India's Reserve Bank is exploring polymer banknotes for enhanced durability. Manufacturers are invited to bid for specialized plastic substrate materials. Polymer notes offer greater resistance to moisture and dirt than paper. This move aims to reduce currency replacement and printing costs. Advanced security features will also be incorporated into the new notes.
4:10 AM
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RBI governor Sanjay Malhotra indicated no immediate policy reaction to current inflation. He described price pressures as contained, attributing them to supply-side factors. Growth remains resilient, supported by domestic demand and investment. Credit expansion is brisk, with RBI monitoring fast-growing segments closely. The central bank focuses on inflation composition, not just the headline number.
3:10 AM
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RBI has barred defaulting borrowers from repurchasing seized properties. New directions effective October 1, 2026, tighten norms for stressed accounts. Banks must adopt board-approved policies for asset recognition and recovery efforts. Assets must be disposed of through public auctions within seven years. Seized assets will be disclosed separately and not included in NPA ratios.
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Former RBI governor Raghuram Rajan will help shape US monetary policy. He joins a Federal Reserve task force reviewing its policy framework. Rajan will examine balance sheet policy alongside other experts. Other panels will assess data, productivity, and inflation frameworks. These initiatives aim to improve the central bank's future policy approach.
11:10 AM
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Bank branches will be closed in Odisha, Uttarakhand, and Manipur on July 16. These closures are for Ratha Yatra and the Harela festival celebrations. Customers can still use online and mobile banking services for transactions. Other regional holidays are scheduled later this month across various states. Regular banking operations will resume on the next working day.
10:10 AM
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Top stock market recommendations: Anant Raj, Sobha Ltd, and PNB Housing Finance have been identified as the top stocks to buy by Aakash K Hindocha, Vice President - Research, Nuvama Professional Clients Group/Nuvama Wealth Management for July 16, 2026. Views on Nifty and Bank Nifty have also been shared:
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JPMorgan Chase is nearing a $1 trillion market valuation, a historic milestone for a bank. The lender's shares reached a record high after reporting its highest quarterly profit ever. Analysts expect dealmaking activity to remain strong through the rest of 2026. This achievement would place JPMorgan alongside major technology giants like Tesla and Meta. The bank's diversified business model and strong leadership contribute to its impressive performance.
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Government is accelerating the IDBI Bank stake sale process. Two bidders, Fairfax and Emirates NDB, are being considered. This follows the rejection of earlier bids below the reserve price. Recent foreign investments in Indian banking include Yes Bank and RBL Bank. Mitsubishi UFJ Financial Group also made a significant investment in Shriram Finance.
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India is among major economies that are stepping up purchases of gold, while trimming holdings of US Treasuries. Central banks have increasingly begun viewing gold not only as a hedge against inflation but also as a core store of value.
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Finance Minister Nirmala Sitharaman urged banks to enhance outreach to Non-Resident Indians. She called for introducing innovative deposit products to sustain foreign currency deposit momentum. Banks reported significant interest from NRIs in several key global locations. Attractive returns are being offered on FCNR(B) deposits, including five-year options. This initiative aims to mobilize further foreign currency inflows for the nation.
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The Supreme Court has ruled that a bank cannot resist eviction under the Delhi Rent Control Act merely because it came into possession of leased premises through a statutory amalgamation.
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Stock market recommendations: Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities recommends Indian Hotels Company, and Equitas Small Finance Bank as top stocks to buy for the July 13-July 17, 2026 week. Technical outlooks for Nifty, and Bank Nifty have also been shared:
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Four of India's top ten companies added significant market value last week. HDFC Bank and Bharti Airtel led these gains, increasing their valuations substantially. Reliance Industries also saw its market capitalization rise, retaining its top position. However, Hindustan Unilever and Larsen & Toubro experienced the steepest declines. The equity markets ended the week negatively due to geopolitical concerns and oil prices.
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