Nifty and Sensex post best week since 2021 as foreign buying and cheaper oil lift India
Indian indices jumped nearly 8% in a week on record foreign inflows, the rupee strengthened and Brent fell almost 18%, per Moody's data.
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what happened
Indian stock benchmarks had their strongest week in nearly six years. According to Moody's, the Nifty 50 rose 8.58% and the BSE Sensex gained 8.82%, their biggest weekly gains since February 2021. Both indices returned close to the levels seen before the West Asia conflict began on 28 February.
Foreign portfolio investors bought a record Rs 45,960 crore of Indian equities during the week, while domestic institutions recorded their largest-ever weekly net sale of Rs 24,197 crore. The rupee gained 0.60% against the dollar on Friday to 93.91, its strongest level since 22 April 2026, and has risen for six straight sessions. Brent posted its biggest weekly drop since the Covid crash of 2020, falling nearly 18% from its 30 October high of USD 117.64 a barrel. It traded at USD 98.26 on Friday afternoon.
why it matters
Cheaper crude reduces India's oil import bill, eases inflation pressure and improves the position of state-run oil marketing companies. Short-covering in Nifty futures, with open interest down 17.6%, also supported the rally. The report notes that restocking of depleted strategic reserves could keep crude prices elevated even if tensions ease.
market impact
Indian stocks, the rupee and oil importers: foreign inflows and cheaper crude support the market, while Brent faces pressure.
- Nifty 50 pressure up — record foreign buying and short-covering in index futures
- Indian rupee pressure up — cheaper crude and equity inflows supported the currency
- Brent pressure down — easing geopolitical tensions and US-Iran diplomatic engagement
instruments
sources
- Diwali Rally Lifts Sensex 8.82%, Nifty 8.58% In Best Weekly Gain Since 2021 — Moody's, 7 November 2026 at 10:31 UTC
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