Weekly Market Wrap: Sensex, Nifty Post Best Week in Nearly Six Years as FIIs Return and Crude Crashes
Published: Saturday, 7 November 2026 | Week ended 6 November 2026
Indian equities closed on a high, with the Sensex and Nifty 50 both gaining more than 8% in a week that brought a surge in foreign inflows, a historic fall in crude oil and a six-month high for the rupee. Wall Street and Asian markets, by contrast, were rattled by a sharp AI-led sell-off after the US midterm elections, and money rotated into India as a relative safe harbour.
The week at a glance
- Nifty 50: 25,030.35, up 8.58% for the week
- BSE Sensex: 81,028.02, up 8.82% for the week
- Nifty Midcap 100: up 5.77% for the week
- Nifty Smallcap 100: up 2.77% for the week
- India VIX: 17.55, up 14.2% for the week
- USD/INR: 93.91, rupee up about 1.2% for the week
- Brent crude: $97.75 per barrel, down about 16% for the week
- Spot gold: about $4,063 per ounce, up roughly 4–6% for the week
Indian markets: seven straight gains, biggest weekly rally since February 2021
The Nifty 50 gained 1,977.25 points in the week and the Sensex added 6,568.49 points, their strongest weekly performance since February 2021. On Friday the Sensex jumped 1,718 points (2.17%) to 81,028, while the Nifty rose about 2% to 25,030.35, its highest close in nine months. It was the seventh consecutive winning session for both benchmarks. BSE-listed market capitalisation rose by roughly ₹28.7 lakh crore over the week.
Breadth was exceptional: 46 of the 50 Nifty stocks ended the week higher. Shriram Finance (+16.8%), Bajaj Finance (+15.8%), Mahindra & Mahindra (+15.7%), HDFC Bank (+13.8%) and Reliance Industries (+13.3%) led the gains. Power Grid (−1.9%), Infosys (−0.3%) and TCS (−0.2%) were the only decliners.
Every sectoral index finished in the green. Nifty Realty (+10.2%) and Consumer Durables (+10.1%) led, followed by Oil & Gas (+9.6%), Auto (+9.4%) and Private Banks (+9.1%). Nifty Bank gained about 8%, Metal 7.6% and FMCG 7.3%, while Pharma lagged with a 3% gain. The broader market also rallied but trailed the benchmarks, with the Midcap 100 up 5.8% and the Smallcap 100 up 2.8%.
Several factors drove the move: a wave of foreign buying (about ₹22,700 crore in November so far, including a near six-year-high single-day purchase on Thursday), solid September-quarter earnings (SBI profit up 14.3% to ₹23,038 crore; Hindalco up 59% to ₹7,532 crore; ONGC up 57.3%; Titan’s standalone profit more than doubled), easing US yields and the sharp fall in crude.
Despite the rally, Samvat 2082 ended with the Nifty down about 3.1% and the Sensex down about 4%, their weakest Samvat since 2011, after foreign investors sold roughly $31 billion of Indian equities in 2026. A special Muhurat trading session on Sunday, 8 November, will mark the start of Samvat 2083.
Asian markets: tech rout hits Tokyo, Seoul and Taipei
Asian shares tumbled on Friday after Wall Street’s AI-driven sell-off, triggered by fears that a Democratic-controlled Congress could tighten regulation of AI and data-centre investment.
- Nikkei 225 (Japan): closed at 57,434.77, down 6.0%
- Kospi (South Korea): closed at 5,059.69, down 6.0%
- Taiex (Taiwan): down 4.5%
The Nikkei fell below the 60,000 mark for the first time in nearly six months and is now more than 20% below its recent peak. Samsung Electronics and SK Hynix were among the heaviest drags in Seoul, where trading was briefly halted during the session. European markets were also lower, with Germany’s DAX down about 2%.
US markets: worst week for the S&P 500 in over a year
Wall Street suffered one of its sharpest sell-offs on Thursday. The Dow fell 1,833 points (3.4%) to 51,523.06, the S&P 500 dropped 4.4% to 7,353.73 and the Nasdaq plunged 5.5% to 24,315.00, wiping out roughly $3 trillion in market value. Nvidia had its worst day since January 2025.
Stocks stabilised on Friday, led by a rebound in chip and AI names:
- Dow Jones: closed at 51,285.73, down 0.46% on Friday and about 0.9% for the week
- S&P 500: closed at 7,376.86, up 0.31% on Friday but down about 2.7% for the week
- Nasdaq Composite: closed at 24,579.42, up 1.09% on Friday but down about 3.4% for the week
The S&P 500 posted its steepest weekly fall since April 2025 and remains about 5% below its record high. A stronger-than-expected US jobs report has kept the Federal Reserve’s next move in focus, with markets pricing a substantial chance of a December rate hike.
Gold and silver: bullion rallies, then pauses on Dhanteras
Precious metals rose sharply this week as the dollar weakened and Treasury yields eased after the US election results. Spot gold touched a high of about $4,147 an ounce on Thursday before slipping on Friday to around $4,063, while spot silver traded near $52.
In India, the MCX December gold contract settled at ₹1,42,224 per 10 grams on Friday (−1.45%) and MCX December silver at ₹1,84,095 per kg (−1.65%) as buyers booked profits on Dhanteras.
Gold rates in India today (Saturday, 7 November 2026)
- Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad: 24K at ₹1,43,570 and 22K at ₹1,31,600 per 10 grams
- Delhi: 24K at ₹1,43,600 and 22K at ₹1,31,750 per 10 grams
- Ahmedabad, Vadodara: 24K at ₹1,43,620 and 22K at ₹1,31,650 per 10 grams
Retail silver (999) was quoted at roughly ₹1.84–1.85 lakh per kg across major cities on Friday. Retail prices include GST but exclude making charges and may vary by dealer.
Rupee and major currencies: best weekly gain of 2026
The rupee closed at 93.91 against the US dollar on Friday, its strongest level since 22 April, after gaining 56 paise on the day, its biggest single-day rise since 12 October. For the week it appreciated about 1.2% from roughly 95.0, helped by foreign equity inflows, the crude slump and a softer dollar. The Dollar Index ended the week near 101.9, down about 0.3%. The RBI was seen buying dollars near 93.9 to limit the pace of appreciation. India’s forex reserves stood at $717.06 billion as of 30 October, and the 10-year government bond yield ended at 7.19%.
- US dollar (USD): ₹93.91
- Euro (EUR): about ₹105–107
- British pound (GBP): about ₹126–128
- Japanese yen (per 100 JPY): about ₹60.3–60.9
- UAE dirham (AED): about ₹25.6
Cross rates are indicative and vary by source and time of day.
Crude oil: steepest weekly fall since the pandemic
Brent crude fell about 16% over the week, from $117.64 on 30 October to a low of $93.22 before settling near $97.75 on Friday. It was the steepest weekly percentage drop since the start of the Covid-19 pandemic. WTI was heading for a weekly loss of around 13%. The sell-off followed the Democratic gains in the US midterms, which lifted hopes of de-escalation in the West Asia conflict and an eventual easing of supply disruption. For India, which imports over 80% of its crude needs, lower oil prices ease the import bill, the current account and pressure on oil marketing companies. Petrol and diesel prices remained unchanged.
Outlook: what to watch
Indian markets reopen for a special Muhurat session on Sunday, followed by regular trading on Monday. Investors will watch whether foreign inflows persist, whether Brent holds below $100 and how US–Iran diplomacy evolves. Analysts see spot USD/INR support near 93.50 and resistance near 94.30. Key risks include further volatility in AI-linked stocks globally, a hawkish Federal Reserve and the possibility of a reversal in crude. Volatility rose during the week, with India VIX at 17.55.
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 6–7 November 2026 and may change. Readers should consult a SEBI-registered adviser before making investment decisions.