Sensex, Nifty Extend Winning Streak to Third Week as FIIs Pour ₹84,000 Crore; Inflation at 6.09% and Crude at $96 Cap Gains

Mumbai, 14 November 2026: Indian equity benchmarks closed the truncated week ending Friday, 13 November 2026, with modest gains, extending their winning streak to a third consecutive week for the first time since June 2026, as relentless foreign institutional investor (FII) buying of nearly ₹84,000 crore in November outweighed concerns over October retail inflation breaching the RBI’s tolerance band and crude oil prices rebounding towards $96 per barrel.

The S&P BSE Sensex gained 564.43 points or 0.70% to settle at 81,592.45, while the Nifty 50 rose 113.95 points or 0.46% to close at 25,144.30 for the week. The broader market outperformed decisively, with the BSE 250 Small-Cap index surging 3.04% and the BSE 150 Mid-Cap index gaining 2.17%, even as the Nifty IT index snapped a six-week winning streak with a 3.2% decline.

Trading was interrupted by the Diwali-Balipratipada holiday on Tuesday, 10 November, leaving four active sessions that nonetheless delivered a weekly range of 25,054.40 to 25,299.35 on the Nifty 50. The week’s central tension was the tug-of-war between foreign buying, which absorbed ₹5,253.98 crore on the NSE on Friday alone, and domestic institutional investors (DIIs) who sold equities worth ₹2,253.58 crore, as profit-booking intensified into the weekend.

Sensex Jumps 564 Points Weekly as FIIs Buy ₹5,736 Crore on Friday Alone

The week’s trading pattern revealed a market climbing a wall of domestic macro worries on the strength of foreign liquidity. On Monday, 9 November, the Sensex added 107.25 points or 0.13% to 81,106.65 and the Nifty rose 58.25 points or 0.23% to 25,044.65, supported by softer crude oil prices and sustained foreign fund inflows.

Following the Tuesday holiday, the benchmarks posted their strongest session of the week on Wednesday, 11 November, with the Sensex surging 772.75 points or 0.95% to 81,879.40 and the Nifty jumping 210.40 points or 0.84% to 25,255.05, as hopes of de-escalation in the Iran conflict and softer crude prices bolstered sentiment.

Thursday, 12 November, saw marginal gains, with the Sensex adding 31.61 points or 0.04% to 81,911.01 and the Nifty rising 44.30 points or 0.18% to 25,299.35, marking the week’s high for both indices. Friday’s session, however, saw the rally stall, as the Sensex fell 318.56 points or 0.39% to 81,592.45 and the Nifty dropped 155.05 points or 0.61% to 25,144.30, with the Nifty touching a weekly low of 25,054.40 intraday before recovering some losses.

Nifty VIX Plunges 15.93% to 16.30 as Volatility Collapses Despite Friday’s Sell-Off

The India VIX, a gauge of the market’s expectation of near-term volatility, fell sharply during the week, declining 15.93% to close at approximately 16.30 on Friday, 13 November, compared to the prior week’s close of around 19.40. On Friday alone, the VIX dropped 1.93%, opening at 16.61, touching an intraday high of 16.87 and a low of 15.30, reflecting the market’s relative composure even as the Nifty fell 0.61%.

The inverse relationship between the VIX and the Nifty was evident throughout the week: the volatility gauge declined as the benchmarks rallied for three consecutive sessions from Monday to Thursday, and it fell further on Friday even as the Nifty snapped its winning streak, indicating that the sell-off was viewed as profit-booking rather than a structural shift in risk perception.

The VIX’s 52-week range stands between 8.72 and 28.90, and its year-to-date return of 72.26% underscores the elevated volatility regime that has persisted through 2026.

PSU Bank Index Surges Over 3% Weekly as SBI Gains 6% on Strong Q2 Results

Thirteen of the 16 major sectoral indices recorded weekly gains, with the Nifty PSU Bank index emerging as the standout performer, rising over 3% for the week as State Bank of India (SBI) extended its rally following strong quarterly results.

On Friday, however, the sectoral picture turned uniformly negative barring FMCG, with the Nifty Realty index declining 1.39%, the Nifty Auto index falling 1.07%, the Nifty Metal index shedding 0.98%, the Nifty Bank index dropping 0.79% and the Nifty IT index slipping 0.7%.

The Nifty FMCG index was the sole sectoral gainer on Friday, with Hindustan Unilever rising 1.22% and Asian Paints adding 0.87%, as defensive consumer staples attracted buying amid the macro uncertainty.

Bank Nifty, which had closed at 61,518 on Thursday, its second-highest closing level ever, fell 484.40 points or 0.79% to 61,034.10 on Friday, with analysts attributing the decline to its proximity to the lifetime high of 61,762, higher-than-expected retail inflation, recovering crude prices, an elevated put-call ratio and a four-and-a-half-year high in the Relative Strength Index.

Mid and Small-Caps Outperform with 2.1% and 3.6% Weekly Gains as Breadth Broadens

The broader market delivered a decisive outperformance, with small-cap stocks rising 3.6% and mid-cap stocks gaining 2.1% for the week, as buying spread well beyond the large-cap benchmarks. The Nifty Midcap 150 index gained 1.58% and the Nifty Smallcap 250 rose 1.97% on a weekly basis, according to exchange data, while the BSE 250 Small-Cap index surged 3.04% to 7,030.55.

On Friday alone, however, the broader indices gave up some gains, with the Nifty MidCap 150 falling 0.35% and the Nifty SmallCap 250 declining 0.30%, while the Nifty 500 slipped 0.55% and the Nifty 100 dropped 0.65%, indicating that the profit-booking at the end of the week was not confined to large-caps. The market breadth on Friday was negative, with 1,565 advances against 1,657 declines on the NSE as of mid-morning, and the Nifty 50’s advance-decline ratio leaned bearish with 11 gainers, 38 losers and 1 unchanged.

FIIs Buy ₹5,737 Crore on Friday, Extend November Buying Spree to ₹79,302 Crore

Foreign institutional investors remained the dominant force in the market, recording their 10th consecutive session of net cash market purchases on Friday, 13 November, with gross purchases of ₹18,339.57 crore against gross sales of ₹12,603.02 crore, yielding a net inflow of ₹5,736.55 crore. Month-to-date FII purchases in November 2026 reached ₹79,302.47 crore, according to provisional data, with total FPI inflows into Indian equities exceeding ₹84,000 crore as of Thursday, 12 November, the highest monthly level since December 2020.

This buying spree was driven by an unwinding of AI-linked investments globally, lower oil prices earlier in the month and attractive valuations following two consecutive months of outflows totalling over ₹70,000 crore. DIIs, in contrast, turned net sellers, with cumulative selling over the past 10 sessions reaching $5.2 billion (approximately ₹47,662 crore) between 30 October and 12 November, as domestic mutual funds and insurance companies booked profits into the foreign-led liquidity. The combined institutional activity on Friday resulted in a net inflow of ₹3,482.97 crore, as FII buying outweighed DII selling.

October CPI Surges to 6.09%, Breaching RBI’s 6% Tolerance Band for First Time

India’s retail inflation, measured by the Consumer Price Index (CPI), rose to 6.09% in October 2026, up from 5.54% in September, crossing the Reserve Bank of India’s (RBI) upper tolerance limit of 6% for the first time under the new CPI series, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Thursday, 12 November.

Food inflation, the primary driver, accelerated to 8.94% from 7.74% in September, with rural food inflation at 9.09% and urban at 8.68%. Onion prices recorded the highest inflation among individual items at 116.22%, followed by garlic at 60.74% and ginger at 48.32%. Core inflation, excluding food and fuel, edged up to 3.2%, while inflation in restaurant and accommodation services accelerated to 10.06%.

The October reading is the last retail inflation data available to the RBI ahead of its next monetary policy decision on 4 December, and analysts expect the central bank to maintain its tightening bias following its 25-basis-point repo rate increase to 5.5% in October.

Grasim Industries Posts ₹234 Crore Q2 Loss; Shares Fall 2.6% as One-Time Costs Bite

Grasim Industries, an Aditya Birla Group company, reported a net loss of ₹234 crore in Q2 FY27, against a profit of ₹595 crore a year earlier, due to a ₹767 crore impairment at its Canadian pulp joint venture, AV Group NB Inc. Revenue rose 26% year-on-year to ₹50,105 crore, while EBITDA increased 25% to ₹6,513 crore, supported by growth across key businesses.

The building materials business, comprising cement, paints and B2B e-commerce, reported 23% revenue growth to ₹27,378 crore and a 19% rise in EBITDA to ₹3,510 crore. Cellulosic fibres revenue increased 29% to ₹5,344 crore, while EBITDA jumped 49% to ₹522 crore. Chemicals revenue grew 15% to ₹2,759 crore, although EBITDA declined 11% to ₹326 crore due to higher power costs and weaker specialty chemicals profitability.

UltraTech Cement revenue rose 19% to ₹23,295 crore, while Birla Opus revenue increased 35% to ₹1,337 crore. Birla Pivot revenue surged 66% to ₹2,785 crore. Grasim has earmarked ₹3,157 crore in FY27 capital expenditure, with 45% allocated to growth projects.

Hindustan Unilever Gains 1.22%, Bharti Airtel Adds 1.12% as Defensives Attract Buying

On a day when 38 of the 50 Nifty constituents declined, Hindustan Unilever emerged as the top Sensex gainer, rising 1.22% to ₹1,992.90, while Bharti Airtel added 1.12% to ₹2,112.60, Eicher Motors gained 1.34% to ₹7,650.00, Nestle India rose 0.66% and Asian Paints advanced 0.87%. Eicher Motors was the top Nifty 50 gainer on Friday, with its shares rising 1.34%, followed by Hindustan Unilever at 0.96% and BSE Ltd at 0.73%.

Among mid-cap stocks, Hitachi Energy India jumped 11% on a 64% surge in Q2 revenue, while Automotive Axles gained 10% after reporting strong Q2 numbers and TD Power Systems rose 2% as net profit surged 105.6% year-on-year. Cupid Ltd fell over 5% despite reporting a record-high profit, and Ola Electric Mobility dropped 3% despite narrowing its Q2 losses.

Paytm Hits Record High of ₹1,960 After RBI Grants In-Principle Approval for Wallet Licence

Paytm shares closed at a record high of ₹1,960 on Friday, 13 November, after its subsidiary Paytm Payments Services Limited received in-principle authorisation from the RBI to set up and operate a payment system for issuing prepaid payment instruments (PPIs), including digital wallets.

The authorisation letter, dated 13 November 2026, was issued by the RBI’s Department of Payment and Settlement Systems, and the company must submit an audit report to the central bank within six months.

The approval comes more than two years after the RBI barred Paytm Payments Bank from accepting fresh deposits and wallet top-ups, marking a significant regulatory reprieve for the fintech major. The stock’s record high came on a day when the broader Nifty 50 fell 0.61%, underscoring the company-specific nature of the move.

Hitachi Energy, Automotive Axles, TD Power Surge as Q2 Earnings Deliver Strong Beat

Automotive Axles shares jumped 10% on Friday after the small-cap auto ancillary company reported a strong set of financial results for the September 2026 quarter. Automotive Axles reported a 66.7% year-on-year increase in net profit to ₹60 crore for the second quarter of FY27, compared with ₹36 crore in the corresponding quarter of the previous financial year. Revenue from operations rose 43.5% year-on-year to ₹663 crore in Q2 FY27 from ₹462 crore a year earlier. EBITDA jumped 73.7% to ₹83.2 crore, while margins expanded to 12.6% from 10.4%. For the first half of FY27, revenue increased to ₹1,179.4 crore from ₹951.1 crore, while net profit rose to ₹105.7 crore from ₹71.7 crore.

Hitachi Energy India shares rallied 9.44%after the company reported a strong performance for the September 2026 quarter, supported by robust revenue growth, higher order inflows and a record order backlog.  Hitachi Energy India reported a 21% YoY rise in Q2 FY27 net profit to ₹318.5 crore, while revenue surged 63.5% to ₹2,996.5 crore. Order inflows jumped 85.9% to ₹4,120.8 crore, taking its order backlog to a record ₹33,335.4 crore. Export orders and services also supported growth, reflecting strong demand across utilities, power transmission and data centres.

Among other notable movers, MSTC’s shares surged 20%, and Modi Naturals jumped 12.98% to ₹374, reflecting a broadly positive earnings season that has seen companies across sectors deliver robust year-on-year growth. Oil India reported a 53% YoY jump in Q2 FY27 profit after tax to ₹2,521 crore, driven by a 20% rise in crude production and 35% higher price realisation at $92.24 per barrel. Total income increased 26% to ₹12,303 crore. For H1 FY27, consolidated profit surged 77% to ₹6,548 crore, compared with ₹3,690 crore a year earlier.

Moody’s Raises India’s FY27 GDP Growth Forecast to 7% on Resilient Consumption

Moody’s Ratings raised India’s FY27 GDP growth forecast to 7% from 6.5%, citing resilient domestic consumption, improving investment activity and the economy’s ability to absorb the energy supply shock triggered by the Iran war.

The agency said diversified crude oil and natural gas supplies, along with support from state-backed oil marketing companies and tax cuts, had cushioned the impact of higher energy prices. The upgrade came during a week when Brent crude prices rebounded towards $96 per barrel on Friday, reviving inflation concerns and weighing on rate-sensitive sectors such as auto, realty and banking.

The rupee also weakened to 94.20 per US dollar on Friday from 94.12 on Thursday, adding to the cautious sentiment, while the 10-year benchmark government bond yield rose to 7.302% from 7.249% in the previous session.

RBI Conducts ₹75,000 Crore VRRR Auction, Paytm Gets Wallet Nod in a Week of Regulatory Activity

The Reserve Bank of India announced a three-day Variable Rate Reverse Repo (VRRR) auction for a notified amount of ₹75,000 crore on Friday, 13 November, with reversal on Monday, 16 November, as part of its liquidity management operations.

Separately, the RBI issued domestic transfer norms allowing walk-in customers without bank accounts to send up to ₹50,000 via NEFT, while cash pay-out services were capped at ₹10,000 per transaction and BC and ATM transfers at ₹5,000. On the equity markets side, the RBI granted Paytm Payments Services in-principle approval for wallet and PPI issuance, a development that lifted the fintech company’s shares to a record high.

These regulatory actions came against the backdrop of the October CPI breach, which analysts expect to keep the RBI on a calibrated tightening path, with the next monetary policy decision scheduled for 4 December.

Nvidia CEO Jensen Huang’s Resignation Spooks Global Tech; Nifty IT Falls 3.2% Weekly

Global market sentiment was unsettled by the sudden resignation of Nvidia co-founder and CEO Jensen Huang on Thursday, 12 November, which renewed uncertainty over the artificial intelligence sector and triggered a sell-off in technology stocks worldwide. Chief Financial Officer Colette Kress was named interim CEO as the company searches for a successor, and the leadership change raised concerns about the future direction of the AI chipmaker and its broader implications for the AI industry.

The Nifty IT index fell 3.2% for the week, snapping a six-week winning streak during which it had rallied 17.1%, as investors reduced exposure to AI-linked trades. On Friday, the IT index declined a further 0.7%, with TCS, Infosys and other major IT names ending lower. US stocks also ended lower on Thursday, with the Dow Jones Industrial Average declining 189.40 points or 0.36% to 52,297.09, the S&P 500 falling 26.98 points or 0.35% to 7,592.40 and the Nasdaq Composite dropping 100.10 points or 0.39% to 25,366.09.

The Sensex closed the week at 81,592.45 (+0.70%) and the Nifty at 25,144.30 (+0.46%), as FII buying of ₹84,000 crore in November outweighed October CPI at 6.09% and crude’s rebound to $96 per barrel. The Nifty IT index’s 3.2% weekly decline on Nvidia’s leadership change and DII selling of ₹2,253.58 crore on Friday signal a market balancing foreign liquidity against domestic macro headwinds, with the 4 December RBI policy and the durability of FPI flows into mid-caps and PSU banks as the key variables to monitor.