Crude eases from July peak, rupee stabilizes near Rs.95.6/USD: After spiking to ~$93-94/bbl in July on the
Iran-US ceasefire collapse, Brent has eased to ~$88-89/bbl by late August as Hormuz-region crude exports
recover and Iran-Oman reach a revenue-sharing arrangement over the strait, though Washington has signalled no return to the collapsed June deal. The rupee holds near Rs.95.6-95.8/USD, cushioned by RBI intervention and FCNR(B)/FPI inflows.
Strongest earnings in years, but inflation above target: RBI held repo at 5.25% for a 4th straight meeting,
though minutes turned hawkish on rate-hike odds. CPI hit a 19-month high of 4.45% in July, above the 4% target for a 2nd month. Q1FY27 earnings were the best in 10 quarters (Nifty50 revenue +19.4%, PAT +18% YoY), lifting the FY27 Nifty EPS estimate to ~Rs.1,232, implying 19x P/E.