Market Close Report Today, November 6, 2026: Diwali Party Continues In Full Swing, Ignoring Global Selloff

Mumbai, November 6: Indian equity benchmarks extended their winning streak to a seventh consecutive session on Friday, with the Sensex surging over 1,700 points and the Nifty reclaiming the 25,000 mark, as sustained foreign fund inflows, easing crude oil prices and improving investor sentiment supported a broad-based rally in frontline stocks. 

At close, the Sensex was up 1,718.01 points, or 2.17 percent, at 81,028.02, while the Nifty 50 advanced 493.75 points, or 2.01 percent, to settle at 25,030.35. 

The rally came despite a sharp selloff across global markets, particularly in technology stocks, amid concerns over the sustainability of artificial intelligence-related investments and slowing spending on AI infrastructure. 

Market breadth remained weak despite the strong gains in benchmark indices. Around 1,681 shares advanced, while 2,400 declined and 148 remained unchanged.  

Both benchmarks recorded their strongest weekly performance in six years, with the Sensex and Nifty surging 8.8 percent and 8.6 percent, respectively, as a seven-session winning streak propelled both indices to their highest closing levels in over eight months.  

The rally marked the biggest weekly advance for domestic equities since February 2021, when optimism surrounding India’s Covid-19 vaccination drive had triggered a sharp recovery in investor sentiment.  

The Nifty’s seven-session winning streak was its longest in 14 months, while the Sensex recorded its longest such run in 26 months.  

Despite the strong rebound, Indian equities continue to lag emerging-market peers in 2026. The Nifty and Sensex remain down 4.2 percent and 4.9 percent, respectively, for the year, compared with a 7 percent gain in the MSCI Emerging Markets index. 

The week’s spectacular rally has, however, helped narrow that performance gap. Domestic markets will also remain open for a special trading session on Sunday to mark Diwali. 

Banking, auto and consumer durables lead gains 

Banking and financial stocks were among the biggest contributors to the rally. The Nifty Bank and Nifty Private Bank indices gained between 1 percent and 3 percent, supported by strong buying in heavyweight lenders. 

ICICI Bank, HDFC Bank and Axis Bank were among the biggest Nifty 50 gainers, rising 4.7%, 3.7% and 3.3% respectively. Mahindra & Mahindra also attracted strong buying interest, rising 5% as investors ignored ‌a weaker tractor outlook, choosing to focus instead on resilient SUV demand and EV business. Jewellery and lifestyle firm Titan Company advanced 3.4% on Dhanteras which is considered auspicious for buying precious metals. 

The Nifty Consumer Durables and Pharma indices also witnessed healthy gains, rising between 1 percent and 3 percent. 

On the other hand, the Nifty Energy, Media and Realty indices declined between 0.9 percent and 1.5 percent, emerging as the key sectoral laggards. 

Broader markets fail to keep pace 

The rally in benchmark indices was not reflected in the broader market, where selling pressure persisted. The Nifty Midcap index ended marginally lower, while the Nifty Smallcap index declined 0.8 percent, snapping its four-session winning streak. 

Among individual stocks, Eicher Motors, Power Grid Corporation, Bharat Electronics, Adani Enterprises and Tata Motors Passenger Vehicles featured among the biggest Nifty 50 losers. 

Record foreign inflows support Indian equities 

Sustained foreign institutional investor buying provided a significant boost to domestic equities. Foreign investors bought Indian stocks worth around Rs 15,000 crore ($1.6 billion) on Thursday, marking their biggest single-day net purchase in nearly six years. 

The buying reflects a shift in global investment positioning, with funds rotating away from AI-linked technology stocks and reassessing opportunities in emerging markets such as India. 

The US midterm election outcome also helped improve sentiment towards Indian equities, as investors bet that the political developments could hasten an end to the US-Iran conflict, easing geopolitical concerns and pressure on energy prices. 

Brent crude’s decline below $100 per barrel earlier in the week had further supported the rally by easing concerns over imported inflation, India’s current account deficit and currency weakness. 

India had underperformed several Asian and emerging-market peers this year amid elevated oil prices, foreign fund outflows and the global rush towards AI-related investments. However, the recent rally has helped narrow some of that underperformance. 

Global technology rout fails to derail D-Street rally 

Indian equities displayed resilience despite a sharp selloff on Wall Street and across Asian markets. The Nasdaq Composite plunged 5.5 percent on Thursday, while the Dow Jones Industrial Average and S&P 500 declined 3.4 percent and 4.4 percent, respectively, following weak Qualcomm results and concerns over slowing investment in AI infrastructure. 

Asian markets also witnessed significant selling, with South Korea’s Kospi plunging 6 percent and Japan’s Nikkei falling the same on Friday. 

However, Indian equities remained relatively insulated from the global technology rout, partly because of their lower exposure to AI-linked stocks. Indian IT companies, which have tended to move inversely to some AI-linked technology stocks, also attracted buying interest. The Nifty IT index gained 0.4 percent during Friday’s trade, taking its two-session advance to nearly 2.9 percent. 

Financial stocks also benefited from renewed foreign investor interest, with the Nifty Private Bank index gaining 3.2 percent on Friday. 

Market participants believe that easing macroeconomic pressures, more reasonable valuations and relatively resilient corporate earnings could make Indian equities increasingly attractive to foreign investors if global conditions remain supportive. 

Source

• NSE
• BSE