Indian Sensex, Nifty Snap Eight-Week Losing Streak
India's benchmark equity indices recovered last week, ending their longest decline in 25 years, driven by gains in technology and consumer goods stocks.
Equities Rebound After Prolonged Decline
Indian equity markets concluded an eight-week downturn on 9 October 2026, marking their most extended losing streak in 25 years. The BSE Sensex closed the week at 72,472.33, up 562.63 points, or 0.78%. The Nifty 50 advanced 98.5 points, or 0.43%, to settle at 22,520.45.
This rebound was largely fuelled by buying in information technology (IT), fast-moving consumer goods (FMCG), automobile, and financial sectors. On Friday alone, the Sensex surged 879.09 points (1.23%), while the Nifty 50 climbed 288.65 points (1.30%).
Foreign Outflows and Rupee Weakness Persist
Despite the market recovery, foreign institutional investors (FIIs) remained net sellers for the seventh consecutive week, offloading equities valued at ₹30,294.29 crore. Domestic institutional investors (DIIs) provided a counterbalance, purchasing ₹30,313.48 crore in equities during the same period.
The Indian rupee also depreciated by 41 paise last week, closing at 96.73 against the US dollar on 9 October, from 96.32 on 1 October. The Reserve Bank of India (RBI) recently increased its repo rate by 25 basis points (bps) to 5.50%, shifting to a calibrated tightening stance.
Upcoming Data and Corporate Results to Watch
Market participants will monitor several key indicators next week, including India's September consumer price inflation (CPI) and wholesale price inflation (WPI) data. US economic releases, such as consumer inflation, producer price inflation (PPI), and retail sales figures, will also influence global sentiment.
On the corporate earnings front, attention will shift to IT companies HCL Technologies, Wipro, and Tech Mahindra, following Tata Consultancy Services' (TCS) September-quarter results which helped drive last Friday's IT sector gains. Broader September-quarter earnings will also gather momentum.
The market's direction next week will be shaped by the interplay of domestic inflation, US economic cues, corporate performance, crude oil prices, and rupee movements. Elevated crude oil prices, with Brent trading above $100 a barrel and WTI above $90, remain a critical factor for India's import bill and corporate margins.
Persistent foreign fund outflows and rising global bond yields could continue to weigh on equities. Ajit Mishra, SVP – Research at Religare Broking, identified the 22,200–22,400 zone as a crucial Nifty support level to watch.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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