Indian Developments
Broad-based buying across sectors fuelled an incredible market rebound, completely erasing the profit-taking witnessed in previous weeks. The benchmark NIFTY 50 closed at 25,030.35, marking a staggering weekly gain of 8.58% over the previous week's close of 23,053.10. The broader market indicators strongly mirrored this powerful upward surge, with the Nifty 100 gaining 8.08% to finish at 25,907.85, and the comprehensive Nifty 500 rising 7.13% to end at 23,456.95.
Reflecting this dramatic shift back toward risk appetite, market volatility remained relatively balanced. The fear gauge, INDIA VIX, stood at 17.66, climbing 15.42% over the week as traders re-priced heavily into long equity positions following the sharp bounce from recent multi-week lows.
Sectoral Developments
The Winners: Outperformance was heavily dominated by financial services, capital goods, and consumer spaces. Nifty Capital Markets led the entire market, surging a massive 10.73% to close at 5,678.20. This was closely followed by Nifty Financial Services (ex-Bank), which shot up 10.69%, and Nifty Cement, advancing an impressive 10.37% to finish the week at 14,573.75. Other major contributors included Nifty Realty (+10.17%) and Nifty Consumer Durables (+10.08%).
The Laggards: While positive momentum was nearly universal, a handful of sectors underperformed the blistering pace of the broader indices. Nifty Midcap Small cap IT & Telecom was the weakest link, moving up a muted 0.59% to close at 10,168.85. Nifty IT also showed relative weakness, up just 1.14% to 32,977.90. Defensive growth areas like Nifty Pharma (+3.01%) and Nifty Healthcare Index (+2.93%) also experienced profit-taking relative to the broader markets.
Global Developments
USA: A sharp tech selloff triggered by regulatory fears and AI infrastructure corrections hit Wall Street. The tech-heavy Nasdaq Composite nosedived 5.52% into technical correction territory, dragging down the S&P 500 by 4.36% and the Dow Jones by 3.44%.
Asian Markets:
Japan crash: The Nikkei 225 crashed 5.96% (losing 3,643 points) to close at 57,434.77, recording its worst weekly drop since March 2020 on massive global tech de-leveraging.
Korea selloff: Deeper systemic panic dragged South Korea's KOSPI down 6.00% to finish at 5,059.69, led by heavy valuation cuts in memory chip leaders Samsung and SK Hynix.
China pullbacks: Chinese equities followed the global downturn with Hong Kong's Hang Seng index sliding 1.27% to 24,477.11 and the Shanghai Composite dipping 1.10% to 3,650.65.
Other Markets:
Source: www.nseindices.com; MCX Gold Prices; Economic times, Bloomberg, Investing.
Data for week ended on November 06, 2026.
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