Market News
Market weekly wrap: SENSEX, NIFTY50 break 8 weeks of losing streak; oil prices, RBI rate hike, among key triggers
4 min read | Updated on October 10, 2026, 10:54 IST
SUMMARY
During the week, broader markets also ended in green, with the NIFTY Midcap 100 settling flat and the NIFTY Smallcap 100 gaining 0.5%.
Among sectors, the NIFTY FMCG and NIFTY PSU Bank indices emerged as the top contributors during the week, rising 2.5% and 2.4%, respectively. Image: Shutterstock
The Indian equity market snapped its eight-week losing streak and ended higher for the week ended October 9, driven by a rally in the final trading session. The market investors' sentiment was supported by crude oil prices, the Reserve Bank of India rate hike decision and global cues.
During the week, broader markets also ended in green, with the NIFTY Midcap 100 settling flat and the NIFTY Smallcap 100 gaining 0.5%.
Brent crude prices have been volatile throughout the week. It jumped 2.4% amid fresh concerns over the West Asia conflict. During the week, Brent crude touched a high of $105.92 per barrel, but it later retreated to close at $104.42 per barrel on Friday.
This is the first interest rate hike by the MPC since February 2023, and the governor said that the policy action going ahead can only be a rate hike or a pause.
The 50-share index crashed to its lowest level of 2026 on Thursday following an increase in crude oil prices. Oil prices surged amid concerns over supply from the Middle East following an increase in attacks on shipping in the Gulf and the Strait of Hormuz, while US output fell as a hurricane threatened offshore production.
Weekly top gainers & losers
| NIFTY50 GAINERS | NIFTY50 LOSERS |
|---|---|
| Trent (13.1%) | Adani Enterprises (-6.5%) |
| BSE (7.9%) | Max Healthcare Institute (-6.1%) |
| Kotak Mahindra Bank (5.4%) | JSW Steel (-5.3%) |
| HDFC Life Insurance Company (4.2%) | Hindalco Industries (-4.4%) |
| ITC (3.9%) | Bharat Electronics (-3.9%) |
The rising bond yields and the situation of global economic tightening are resulting in investors shifting their investments to other safe-haven assets, likely pulling out funds from emerging markets into US Treasuries and the benchmark dollar.
US President Donald Trump said Thursday that he will not order a resumption of military strikes on Iran before the November 3 midterm elections in the United States.
IT stocks in focus
Investors were also reacting to TCS’s Q2 earnings report after the bellwether stock posted mid-double-digit revenue gains with an increase in net profit, while margins remained under pressure.
US Labour Secretary Keith Sonderling on Thursday announced that eight companies, namely Adobe, Microsoft, Infosys, TCS, Wipro, HCL Tech, Cognizant, and Capgemini, are now suspended from the PERM programme.
Sectoral watch this week
Among sectors, the NIFTY FMCG and NIFTY PSU Bank indices emerged as the top contributors during the week, rising 2.5% and 2.4%, respectively. The NIFTY Bank (1.5%) and NIFTY IT (1%) were the other top gaining sectors of the week.
On the other hand, NIFTY Realty (-3.7%), NIFTY Metal (-3.7%), NIFTY Auto (-2.1%), NIFTY India Defence (-1.5%) and NIFTY Pharma (-1.3%) were among the losers. However, India VIX index slipped 0.6% this week.
Related News
About The Author
Next Story
