Sensex Jumps 8.82% to 81,028, Nifty Reclaims 25,000 as ₹28.7 Lakh Crore Added in Best Week Since 2021

Mumbai, 7 November 2026: Indian equity benchmarks delivered their strongest weekly performance in nearly six years, with the Sensex surging 6,568.49 points or 8.82% to close at 81,028.02 and the Nifty 50 vaulting 1,977.25 points or 8.58% to settle at 25,030.35 for the week ended 6 November 2026.

The rally, which extended the winning streak to a seventh consecutive session, added a staggering ₹28.70 lakh crore to the market capitalisation of BSE-listed companies, lifting total valuation to ₹5,03,06,833.71 crore from ₹4,74,37,038.61 crore in the prior week. The surge was powered by a decisive Democratic sweep in the US midterm elections on 3 November, a 16% collapse in Brent crude to near $99 per barrel, a 1.2% appreciation in the rupee to 93.91 per dollar, and an extraordinary ₹35,781 crore of FII buying over the last five trading sessions.

Strong Q2 FY27 earnings from heavyweights including Reliance Industries, Bharti Airtel and Mahindra & Mahindra provided fundamental support, while India’s relative insulation from the global artificial intelligence rout made it the preferred destination for reallocated foreign capital.

Benchmark Indices Scale Records as Nifty Reclaims 25,000 After Eight Months

The Sensex opened the week at 74,459.53 on Monday, 2 November, and never looked back, registering gains in every session. The index climbed 1,233.25 points or 1.66% on Monday to 75,692.78, added another 1,225.07 points or 1.62% on Tuesday to 76,917.85, and rose 383.55 points or 0.50% on Wednesday to 77,301.40.

Thursday’s session delivered the week’s most powerful single-day surge, with the Sensex vaulting 2,008.61 points or 2.60% to 79,310.01 and the Nifty jumping 576 points or 2.40% to 24,536.60. Friday’s Dhanteras session extended the momentum, with the Sensex gaining 1,718.01 points or 2.17% to close at the week’s high of 81,028.02, while the Nifty added 493.75 points or 2.01% to 25,030.35, its highest close since 27 February 2026.

The weekly intraday high for the Sensex was 81,028.02 on 6 November, while the weekly low was 74,459.53 on 2 November. The Nifty’s weekly range spanned from a low of 23,053.10 to a high of 25,030.35. The Nifty Next 50 lagged the headline indices, reflecting the large-cap leadership that characterised the rally, with private banks and IT stocks contributing the bulk of the gains.

Mid-Caps Add 5.59% and Small-Caps 4.06% as Breadth Diverges

The broader market participated in the rally but underperformed the benchmarks, revealing a pronounced large-cap bias in FII flows. The BSE 150 Mid-Cap index gained 5.59% to close at 16,389.12, while the BSE 250 Small-Cap added 4.06% to end at 6,823.26.

The Nifty 500 closed at 23,456.95, up 232.3 points or 1% on Friday alone, but the market breadth on the final day was negative, with 1,037 stocks advancing against 1,769 declining out of 2,872 traded. The divergence intensified on Friday, with midcap and smallcap stocks plunging up to 18% even as the Sensex and Nifty posted strong gains, and the BSE 250 SmallCap index slumped 1.68% intraday before recovering.

The Nifty Midcap 100 closed flat on Friday, while the Nifty Smallcap 100 ended lower, confirming that the week’s gains were concentrated in large-cap heavyweights rather than broad-based participation. Sector rotation favoured banking and financials over consumer durables and media, with the Nifty Bank index advancing 2.03% to 58,946.00 on Friday and the Nifty Private Bank index rising 0.72% in the morning session.

Nifty IT Hits Nine-Month High of 33,616 as AI Rout Redirects Global Capital

The information technology sector emerged as an unexpected beneficiary of the global artificial intelligence sell-off, with the Nifty IT index surging 778 points or 2.37% on Friday to an intraday high of 33,616.20, its highest level in nine months.

The index had rallied 16.03% over the preceding month and was lower by 7.07% over the past year, underscoring the magnitude of the recovery. Indian IT firms were perceived as relatively insulated from the capital-intensive AI investments that triggered a 5.6% plunge in the Nasdaq on 5 November, with the Democratic opposition to massive data-centre spending prompting global funds to rotate out of US technology stocks and into Indian software exporters.

Mphasis, HCL Technologies, TCS and Infosys led the gains, with the Nifty IT index’s two-day advance reaching nearly 2.9%. The Nifty Pharma and Nifty Healthcare indices also contributed to the rally, with healthcare stocks providing support on Friday alongside IT and private banking shares.

Nifty Auto Surges 4.14% on Crude Relief and M&M’s 25% Profit Jump

The automobile sector was a standout performer, with the Nifty Auto index surging 4.14% to close at 27,601.75 on Thursday, 5 November, as collapsing crude oil prices and strong monthly sales data lifted sentiment across the sector. Ashok Leyland jumped 9% , while Maruti Suzuki, Tata Motors Passenger Vehicles and Mahindra & Mahindra led the gains as the index outperformed the benchmark Nifty 50 by a wide margin.

Mahindra & Mahindra was the top Sensex gainer on Friday, rising 6.15% , after reporting a 25% year-on-year rise in consolidated net profit to ₹4,588 crore and a 25% jump in revenue to ₹57,553 crore for Q2 FY27. The standalone profit rose 13% to ₹5,102 crore, beating estimates, driven by strong SUV demand.

The Nifty Metal index gained 2.40% on 4 November and 7.58% for the week to 12,678.15, while the Nifty Realty index climbed 2.80% on 4 November and was among the top sectoral gainers on Friday. The Nifty FMCG index advanced 7.28% for the week to 46,785.60, with ITC and Godfrey Phillips among the contributors.

India VIX Surges 13.35% to 17.66 Even as Benchmarks Rally

The India VIX, a gauge of expected near-term volatility, surged 13.35% to close at 17.66 on Friday, 6 November, even as the benchmark indices posted strong gains. The volatility index had climbed 7.77% to 16.75 in the morning session before accelerating through the day, reflecting the heightened uncertainty created by the global technology rout and the sharp divergence between large-cap and broader market performance.

The VIX’s rise alongside the Nifty’s advance underscored that the rally was accompanied by elevated anxiety over the sustainability of the gains, particularly given the weak market breadth and the concentration of buying in a narrow set of large-cap stocks. The VIX had ended the prior week at approximately 15.59, meaning the weekly gain exceeded 2 points, or more than 13%.

The spike on Friday coincided with a 5.6% plunge in the Nasdaq and a sharp sell-off in Asian technology stocks, which heightened concerns about global contagion even as India outperformed.

FIIs Pour ₹35,781 Crore in Five Sessions; DIIs Sell ₹18,228 Crore in November

Foreign institutional investors were the dominant force behind the week’s rally, purchasing ₹14,974.68 crore of Indian equities on Thursday, 5 November alone, their biggest single-day purchase since February 2021.

Over the last five trading sessions, FIIs bought equities worth ₹35,781 crore, with total November inflows exceeding ₹32,210 crore. The buying was driven by three factors: the Democratic sweep in the US midterms, the sharp fall in crude oil prices, and the changing outlook for AI investments that made Indian equities relatively more attractive.

Domestic institutional investors moved in the opposite direction, selling ₹10,444.54 crore on 5 November and a net ₹18,228 crore so far in November, extending their selling streak to multiple sessions. Despite the DII selling, the market remained resilient, with analysts noting that the changed global market construct would sustain FII buying.

Reliance Industries Surges 8% on Record ₹29,550 Crore Q2 Profit

Reliance Industries, India’s largest company by market capitalisation, reported a record consolidated net profit of ₹29,550 crore for Q2 FY27, up 33.8% year-on-year, with gross revenue rising 27.8% to ₹3,62,268 crore and EBITDA climbing 23.9% to ₹62,409 crore.

The oil-to-chemicals business delivered a 68% jump in EBITDA on higher fuel cracks and chemical margins, while the retail and telecom verticals contributed robust growth. Shares of Reliance jumped 8% following the results, with the stock closing at ₹1,320 on 6 November, up 0.50% on the day. The strong earnings from India’s largest private-sector company provided critical fundamental validation for the rally, reinforcing the narrative that corporate profitability was improving even as global macroeconomic uncertainties persisted.

Bharti Airtel Climbs 3% on 31% Profit Growth; ARPU Beats Estimates at ₹271

Bharti Airtel reported a 31% rise in consolidated net profit to ₹8,888 crore for Q2 FY27, with revenue growing 16.7% to ₹60,878 crore. The telecom operator’s India and Africa businesses both contributed to growth, with mobile average revenue per user (ARPU) climbing to ₹271, beating estimates.

The stock rose 3% to hit a day high of ₹2,120 on 6 November, about 3% above the previous close, as investors rewarded the operational beat despite the profit marginally missing some estimates.

The results underscored the resilience of India’s telecom sector, which has benefited from tariff hikes and improving data consumption, and Bharti Airtel’s performance provided a counterweight to the weakness in some other large-cap sectors.

Kotak Mahindra Bank Gets CCI Approval for Deutsche Bank India Retail Acquisition

The Competition Commission of India (CCI) on 4 November approved Kotak Mahindra Bank’s acquisition of certain businesses of Deutsche Bank Aktiengesellschaft, including the German lender’s retail and wealth management operations in India.

The transaction, which is part of Kotak’s strategy to expand its retail banking and wealth management footprint, had been announced earlier and received the competition regulator’s nod during the week.

The approval removes a key regulatory hurdle for the deal, which is expected to strengthen Kotak’s position in the competitive Indian retail banking market. Shares of Kotak Mahindra Bank rose 2.68% on Friday, reflecting positive sentiment towards the banking sector and the deal’s progress.

AdaniConneX to Acquire Vizag Data Centre Park for ₹1,085 Crore by November 10

Adani Enterprises’ joint venture AdaniConneX executed a share purchase agreement on 5 November to acquire 100% of Vizag Mega Data Center Park Limited for ₹1,085.51 crore, with the deal expected to close by 10 November 2026. The acquisition aligns with the Adani group’s ambitions in digital infrastructure and data-centre capacity, a sector witnessing explosive growth in India driven by cloud adoption and artificial intelligence demand.

The transaction, while relatively small in the context of Adani Enterprises’ overall portfolio, signals the group’s continued focus on emerging infrastructure verticals and its willingness to deploy capital in high-growth segments.

Marico Acquires 51% Stake in Bonorizon Consumer Ventures for ₹35 Crore

FMCG major Marico announced on 6 November that it had entered into definitive agreements to acquire a 51% stake in Bonorizon Consumer Ventures Private Limited for an aggregate consideration of up to ₹35 crore. The acquisition is part of Marico’s strategy to expand its presence in the health and wellness segment and to incubate new-age consumer brands.

While the deal size is modest, it reflects the broader trend of established FMCG companies acquiring stakes in emerging consumer ventures to diversify their product portfolios and tap into new growth categories.

Mahanadi Coalfields, Sagar Defence and Arjun Jewellers Receive SEBI Approval for IPOs

The Securities and Exchange Board of India (SEBI) granted approval on 5 November for initial public offerings by Mahanadi Coalfields Limited, Sagar Defence Engineering Limited and Arjun Jewellers Limited.

Mahanadi Coalfields, a subsidiary of Coal India, is planning an IPO of up to 66.18 crore equity shares and has begun investor meetings, with the share sale expected to launch in the second half of November or early December.

The approval pipeline suggests that the primary market remains active despite the volatility in the secondary market, and the successful listing of these issues could provide further momentum to the IPO market in the coming weeks.

EAAA India Alternatives Lists at ₹1675.50; Bombay Coated & Special Steels Debuts with 10% Premium

EAAA India Alternatives listed on 2 November at ₹1675.50, a 0.63% premium to its issue price, while Bombay Coated & Special Steels listed on 5 November with a 10% grey market premium following 45.01x times subscription. Two SME IPOs, Ajwa Projects and Carver Roboweld, listed on the BSE SME platform on 4 November after collectively raising ₹66.34 crore.

The listings, while modest in size, indicated that investor appetite for new issues remained intact, particularly for small and medium enterprises with niche business models. The IPO market’s activity during the week, combined with the SEBI approvals for larger issues, suggested that capital-raising activity would continue to be a feature of the Indian market in the coming months.

RBI Constitutes Technical Consultative Committee for Financial Markets

The Reserve Bank of India announced on 4 November the constitution of a Technical Consultative Committee for Financial Markets (TCCFM) to discuss policy and operational issues related to the rapidly evolving financial markets and infrastructure. The committee’s formation signals the central bank’s intent to engage more closely with market participants on issues ranging from bond market development to forex market operations.

Separately, the RBI proposed allowing bank loans of up to ₹100 crore per borrower for agriculture infrastructure and food processing activities to qualify as priority sector lending, a move that could boost credit flow to rural and agri-processing sectors. The RBI also announced a second overnight variable rate reverse repo (VRRP) auction on 4 November as part of its liquidity management operations.

Global AI Rout and US Midterm Sweep Emerge as the Week’s Twin Catalysts

The two dominant global events that shaped Indian market sentiment were the Democratic sweep in the US midterm elections on 3 November and the 5.6% plunge in the Nasdaq on 5 November.

The Democratic victory was interpreted as a rebuke to President Trump’s tariff policies and his administration’s geopolitical confrontations, raising hopes of a more predictable trade environment and a potential resolution to the US-Iran conflict that had disrupted oil supplies. The AI rout, triggered by concerns over data-centre spending and the sustainability of artificial intelligence investments, prompted global funds to reassess their overweight positions in US technology and rotate towards emerging markets like India, which have limited exposure to the AI supply chain.

Brent crude’s 16% weekly collapse to near $99 per barrel further improved India’s acroeconomic outlook by reducing the import bill and easing inflationary pressures, while the rupee’s appreciation to 93.91 per dollar enhanced the returns on dollar-denominated investments in Indian equities.

The Sensex’s 8.82% weekly surge to 81,028 and the Nifty’s 8.58% gain to 25,030 mark the strongest rally since February 2021, powered by ₹35,781 crore of FII buying, a 16% crude collapse and a 1.2% rupee appreciation. The divergence between large-cap gains and negative market breadth, alongside India VIX’s 13.35% spike to 17.66, signals that the rally’s durability depends on sustained FII flows and earnings delivery. The RBI’s regulatory developments and the IPO pipeline remain key domestic variables to monitor in the coming weeks.