Weekly Market Wrap: Sensex, Nifty Log a Third Straight Weekly Gain as PSU Banks Lead; Gold Slides and Rupee Eases
Published: Sunday, 15 November 2026 | Week ended 13 November 2026
Indian equities extended their winning run for a third consecutive week, supported by heavy foreign buying and a surge in public sector bank stocks, even as hotter-than-expected retail inflation, volatile crude oil and a sell-off in IT shares tempered the gains. Global markets, meanwhile, were jolted by the abrupt resignation of Nvidia CEO Jensen Huang, while gold and silver fell sharply on a stronger dollar and rising US yields.
The week at a glance
- Nifty 50: closed at 25,144.30, up about 0.5% (+113.95 points) for the week
- BSE Sensex: closed at 81,592.45, up about 0.7% (+564.43 points) for the week
- Nifty Midcap 100 and Smallcap 100: up 3.6% and 2.1% respectively
- India VIX: 15.78, down 11.2% for the week
- USD/INR: 94.20 (provisional), rupee down about 0.3% for the week
- Brent crude: $95.84 per barrel, down about 2.3% for the week
- Spot gold: about $3,911 per ounce on Friday, down roughly 3.7% for the week
Indian markets: PSU banks shine, IT drags
The Nifty 50 gained 113.95 points and the Sensex added 564.43 points in a holiday-shortened week, with markets shut on Tuesday, 10 November, for Diwali-Balipratipada. It was the first time since June 2026 that the benchmarks have posted three straight weekly gains. The Nifty touched a weekly high of 25,424.35 before profit-booking set in, and the index remains roughly 1,000 points below its record peak.
On Friday, the Sensex fell 318.56 points (0.39%) to 81,592.45 and the Nifty slipped 155.05 points (0.61%) to 25,144.30, snapping a winning streak. Auto, realty and metal stocks led the losses, with 38 of the 50 Nifty constituents ending lower. Shriram Finance and Tata Motors Passenger Vehicles fell about 3% each, while Eicher Motors and Bharti Airtel gained more than 1%.
The broader market outperformed. Among sectors, the Nifty PSU Bank index surged 7.5%, led by Punjab National Bank (+12.8%), Bank of India (+11.2%) and Bank of Baroda (+9.4%). Nifty Media rose 5.2%, Nifty Bank 3.3%, Nifty Realty 2.7% and Nifty Financial Services 2.1%. On the other side, Nifty IT dropped 3.2% and Nifty Metal slipped 0.2%. Among Nifty constituents, SBI, HDFC Life, BSE, Bajaj Finance and Trent were the top weekly gainers, while Grasim, HCL Technologies, Infosys, TCS and Tech Mahindra were the biggest laggards.
Foreign portfolio investors stayed firm buyers, putting about ₹45,320 crore into Indian equities during the week and roughly ₹84,291 crore so far in November, according to NSDL data. Retail inflation, however, rose to 6.09% in October from 5.54% in September, breaching the RBI’s 6% upper tolerance band for the first time in two years, with food inflation at 8.94%. The data has fuelled expectations of further monetary tightening. On the earnings front, Kalyan Jewellers reported a 64% jump in quarterly profit to ₹427 crore, while Tata Motors Passenger Vehicles posted a net loss of ₹5,531 crore for the September quarter.
Asian markets: Mixed after the Nvidia shock
Asian shares ended the week on a mixed note as investors weighed what Jensen Huang’s exit means for the global AI trade, after a strong rebound earlier in the week from the previous Friday’s rout.
- Nikkei 225 (Japan): up 0.5% to 61,142.35 on Friday, roughly 6% higher on the week; SoftBank fell about 5%
- Kospi (South Korea): down 1% to 5,290.53 on Friday, with SK Hynix down 3%
- Taiex (Taiwan): up 1.4% on Friday
- Hang Seng (Hong Kong): down 1.6% to 23,629.58
- Shanghai Composite (China): down 0.6% to 3,634.35
- S&P/ASX 200 (Australia): down 0.7% to 9,082.20
US markets: Wall Street ends a four-week losing streak
Wall Street posted its first weekly gain in about a month despite a turbulent finish. On Friday, the S&P 500 fell 0.4% to 7,561.67 and the Nasdaq Composite dropped 0.9% to 25,136.27, while the Dow Jones Industrial Average edged up 0.1% to 52,347.55. For the week, the S&P 500 rose 2.5%, its biggest weekly gain since August, the Nasdaq gained 2.3% and the Dow added 2.1%. The S&P 500 is up 10.5% so far this year.
The Nvidia leadership change dominated sentiment. Huang stepped down on Thursday after an affair raised US national security concerns, with CFO Colette Kress named interim CEO. The fallout cost Nvidia nearly $600 billion in market value over the week. On Friday, Nvidia fell 2%, Broadcom 4.8% and AMD 8.8%, although more than 60% of S&P 500 stocks advanced, with healthcare and financials among the gainers.
Inflation remained the other key theme. Wholesale inflation cooled slightly in October but stayed high, and the 10-year Treasury yield rose to 5.15% from 5.10%. Economists broadly expect the Federal Reserve to raise interest rates again at its December meeting.
Gold and silver: Sharp weekly decline
Precious metals came under pressure for a third straight session on Friday as hotter US inflation lifted the dollar to near its highest level since April 2025 and boosted expectations of a December Fed rate hike. Spot gold fell to around $3,911 per ounce and spot silver to about $51, compared with roughly $4,063 and $52 a week earlier.
In India, retail prices followed the global slide. As of Saturday, 14 November:
- Gold 24K (per 10 grams): about ₹1,37,620 in Mumbai and Chennai and ₹1,37,670 in Ahmedabad, down about 4% from a week earlier
- Gold 22K (per 10 grams): about ₹1,26,150 in Mumbai and Chennai and ₹1,26,200 in Ahmedabad
- Silver (per kg): roughly ₹1.85–1.95 lakh across major cities, depending on the benchmark
Retail rates include GST but exclude making charges, and vary by city and jeweller.
Rupee and major currencies
The rupee ended Friday at 94.20 against the US dollar (provisional), down 8 paise on the day, pressured by a stronger greenback and weak domestic equities. For the week it lost about 29 paise from its six-month high of 93.91, as steady foreign inflows were offset by broad dollar strength and elevated inflation.
- US dollar (USD): ₹94.20
- Euro (EUR): about ₹104 (EUR/USD near 1.106)
- British pound (GBP): about ₹126–128
- Japanese yen (per 100 JPY): about ₹59 (USD/JPY near 159.8)
- UAE dirham (AED): about ₹25.6
Cross rates are indicative and vary by source and time of day.
Crude oil: Volatile but lower
Brent crude settled at $95.84 per barrel on Friday and WTI traded near $88.5, with both benchmarks down roughly 2% for the week, following last week’s steep 16% and 13% falls. Prices swung after US President Donald Trump said Washington did not need a deal with Iran, signalling the continuation of the blockade, though concerns about attacks on shipping remain a supply risk. Brent is still well above the roughly $72 level seen in late February before the conflict began, which keeps India’s import bill and inflation outlook in focus.
What to watch next week
Markets will track foreign fund flows, crude oil and US–Iran developments, Nvidia’s upcoming earnings, the direction of US yields and signals on RBI and Federal Reserve rate decisions. Market participants will also watch whether the Nifty can hold above the 25,000 mark and revisit its weekly high near 25,424.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Market data is based on closing levels and reports as of 13–14 November 2026 and may change. Readers should consult a SEBI-registered adviser before making investment decisions.