Markets this week: the Nifty's longest losing streak in 25 years is over. Now what?

For eight weeks in a row, Indian stocks fell. The streak, which shaved 8.7% off the Nifty and 8.4% off the Sensex, was the longest since 2001. It finally broke last Friday.

Last week (5–9 October)

• Nifty 5022,520.45, up 0.43% for the week.
• Sensex72,472.33, up 0.78%.
• Bank Nifty55,256.65, up 0.25%.

It was a week of whiplash. On Wednesday the RBI raised the repo rate to 5.50%, its first hike since 2023. On Thursday the Sensex fell 1,045 points to 71,593, wiping out about ₹10 lakh crore of market value. On Friday, strong results from TCS and a dip in crude oil sparked a 1.3% rally that turned the week positive.

Banks and consumer companies led. Metals and real estate, which are most sensitive to interest rates and global demand, fell the most.

This week so far

Monday: the Nifty slipped about 0.7% to 22,363 ahead of September's inflation data, which came in at 5.54%, the highest of the new CPI series. Read what drove it.

Tuesday: the Sensex jumped 1,109 points (1.54%) to 73,033.78 and the Nifty 1.6% to 22,721.95. IT was the top-performing sector. The trigger was Finance Minister Nirmala Sitharaman saying the government will listen to market participants on securities taxation, including long-term capital gains tax and securities transaction tax, as Budget 2027 preparations begin. No proposal has been announced.

Not everything rose. Cable and wire makers Polycab, KEI Industries and R R Kabel fell as much as 5% during the day on worries about competition, and are now about 24% below their highs of last month.

Why one good week doesn't end a bad year

• Down for the yearThe Nifty was down 13.87% for 2026 as of last week.
• Foreign sellingFPIs sold ₹44,166 crore of Indian shares in the first part of October alone, taking 2026's total past ₹3 lakh crore. See why.
• Rupee and oilThe rupee closed last week at 96.73 to the dollar, and Brent crude is above $100.

The week ahead

• Wed 14 OctWholesale inflation (WPI) for September.
• All weekSecond-quarter results season continues, led by IT and banks.
• 21 OctJio Platforms' IPO, reported to be India's largest ever, is due to open.

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