Market weekly wrap: SENSEX jumps 6,568 pts, NIFTY50 rallies 9% as FIIs return; top factors explained

The Indian equity market extended its gains for a second consecutive week, ending November 6, supported by strong buying from foreign institutional investors (FIIs), a sharp correction in crude oil prices, healthy corporate earnings and positive global cues.

These factors also supported the Indian rupee and boosted investor sentiment on Dalal Street ahead of Diwali.

The 50-share index closed at 25,030.35 on Friday, its highest level in nine months. The index had previously closed at 25,088.40 on February 2, 2026.

Brent crude prices fell more than 16% over the week, touching a low of $93.22 per barrel before closing at $97.75 per barrel on Friday. According to a Reuters report, the decline was the steepest weekly percentage fall since the start of the Covid-19 pandemic and its biggest in absolute terms in LSEG data going back to 1988.

The massive correction in crude oil prices comes after the results of the US midterm election on Wednesday, which turned in favour of the Democratic Party, as commodity market investors now focus on a potential near-term end to the escalations in West Asia.

Further, the domestic equity benefited from the emerging “anti-AI trade," as foreign investors appeared to favour markets offering relatively attractive valuations and growth potential amid global market turbulence.

NIFTY50 gainers and losers

As many as 46 NIFTY50 stocks ended the week in positive territory, while three declined and one remained unchanged.

Shriram Finance was the biggest contributor on the NIFTY50 index, jumping 16.8%, followed by Bajaj Finance (15.8%), Mahindra & Mahindra (15.7%), HDFC Bank (13.8%) and Reliance Industries (13.3%).

Power Grid Corporation of India (-1.9%), Infosys (-0.3%) and Tata Consultancy Services (-0.2%) were the only losers, and Apollo Hospitals Services ended flat.

How the midcap-smallcap indices fared

Over the week, the broader market also staged a strong rally but underperformed the main equity benchmark indices. The NIFTY Midcap 100 and NIFTY Smallcap 100 soared 5.8% and 2.8%, respectively.

In the midcap segment, PI Industries (17.4%) was the top gainer, while Apar Industries (-10%), Astral (-6.6%), PB Fintech (-3.3%) and Blue Star (-3.2%) were among the top losers.

On the NIFTY Smallcap 100 index, MTAR Technologies (-20.3%), TD Power Systems (-19.2%), Sterlite Technologies (-12.7%), Kirloskar Oil Engines (-11.9%) and The Great Eastern Shipping Company (-10.3%) were the top losers.

Sectoral watch this week

All sectoral indices ended the week in green, led by NIFTY Realty, which gained 10.2%, and NIFTY Consumer Durables, which rose 10.1%. NIFTY Oil & Gas (9.6%), NIFTY Auto (9.4%) and NIFTY Private Bank (9.1%) were among the other top-performing indices.

The volatility gauge, India VIX, jumped 14.2% over the week to end at the 17.55 level on Friday, November 7.