August Portfolio

July was rough for Indian equities as the markets ended the month in red. Sensex and Nifty both fell around 3% in the month of July. After 4 consecutive green months where Nifty rose almost 14%, July turned things around. Also, August marks the beginning of tariffs that the US has imposed on India. With a baseline tariff of 25% and an additional 25% for buying Russian Oil, the total currently stands at 50% and with this turmoil markets continue to be in limbo. Here’s how the markets have performed in 2025

Gold as I expressed in earlier update continued it’s sideways movement, but with tariffs Gold in INR terms has seen somewhat of a upward trajectory compared to USD denominated gold.

The highlight for this month would be INR depreciation due to tariffs. Currently at 87.6, INR could further fall to 90 by 2025 end at this rate. Here’s what the USDINR chart looks like,

With rupee weakening, it makes sense to have an allocation to assets that counter this fall. Maybe US equities or Gold or anything else of your choice that balances this fall. I’ve bought Silver post $35 breakout as mentioned in previous update and now it’s time to wait for the upmove.

For the month of August here’s what my portfolio looks like,

I’ve still not entered into smallcaps and midcaps, just holding onto largecaps.

On other note, I’ve started a Youtube Channel for Momentum Investing Club, you can join me there as well, Momentum Investing Club Youtube Channel

That’s it for this week!

- Manish Chandre