Indian Developments
Broad-based buying across sectors fuelled a strong rebound, completely reversing the profit-taking witnessed during the week ended October 23, 2026. The benchmark NIFTY 50 closed at 23,053.10, marking a solid gain of 2.00% over the previous week's close of 22,600.00. The broader market indicators mirrored this strength, with the Nifty 100 gaining 2.16% to finish at 23,971.55, and the comprehensive Nifty 500 rising 2.19% to end at 21,895.90.
Reflecting the dramatic shift back toward risk appetite, market volatility cooled significantly. The fear gauge, INDIA VIX, plunged by 8.36% to settle at 15.45, reversing its sharp spike from the prior week.
Sectoral Developments
The Winners: Outperformance was heavily dominated by defensive and growth spaces. Nifty Pharma led the entire market, surging a massive 7.09%. It was closely followed by the Nifty Healthcare Index, which shot up 6.91%. Within mid-to-small cap health segments, the Nifty MidSmall Healthcare index recorded a staggering weekly gain of 8.96%. Other major contributors included Nifty Media (+4.34%) and Nifty Capital Markets (+4.01%).
The Laggards: While positive momentum was nearly universal, a few pockets showed mild friction. Nifty Cement was the weakest link, dropping 1.79% to close at 13,205.00. Heavyweight sectors like banking saw muted momentum relative to the broader indices, with the Nifty Bank advancing a modest 0.74% to close at 54,686.95. The Nifty Oil & Gas index also underperformed slightly, dipping 0.74%.
Global Developments
USA: Tech earnings misses and heavy AI spending fears dragged the Nasdaq Composite down by 1.38% late in the week. Defensive rotations into healthcare and real estate cushioned the S&P 500 and Dow Jones, limiting their declines to a modest 0.30% and 0.25% respectively.
Asian Markets:
Japan drop: The Nikkei 225 fell 2.10% on global tech risk-off sentiment as the Bank of Japan held interest rates at 1.25%.
Korea selloff: The KOSPI plunged 3.50%, triggering automatic trading curbs due to sharp drops in major semiconductor stocks.
Diverging China: Shanghai shares slid 1.40% on supply chain worries, while Hong Kong's Hang Seng bucked the trend to gain 1.50%.
Other Markets:
Source: www.nseindices.com; MCX Gold Prices; Economic times, Bloomberg, Investing.
Data for week ended on October 30, 2026.
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