Friday, August 07, 2026. Nifty closed near 23,600, Sensex shed 200+ points. Strait of Hormuz tensions spiked crude and that was the whole story today.

RBI gave banks a dovish surprise on rates and relaxed device-loan recovery norms. That’s a double tailwind for NBFCs — Tata Investment and Tata Chemicals ripped 7% on the Tata Sons upper-layer NBFC tag. Rupee opened weak at 95.28 as oil popped. But crude cooled through the session and FCNR(B) flows could double to $80–100 bn. That’s a big cushion if the dollar stays bid. Muthoot Microfin Q1 profit jumped 13x. The micro-lending engine is firing even as corporate bond issuance fell 8.4% in FY26. Credit is moving downstream, not up. So what? Oil is the only variable that matters for Monday’s open. If the Strait stays tense, Nifty retests 23,500. If it cools, banks and NBFCs lead a relief rally.

RBI gave banks a dovish surprise on rates and relaxed device-loan recovery norms. That’s a double tailwind for NBFCs — Tata Investment and Tata Chemicals ripped 7% on the Tata Sons upper-layer NBFC tag.