From mint · Dhanya Nagasundaram · · 2m
Diwali 2025 to Diwali 2026: Market Shifts
Indian equities and rupee weaken as crude oil surges in Diwali year comparison.
In brief
Indian equities and rupee weaken as crude oil surges in Diwali year comparison. Nifty 50 fell 2.59% and Sensex dropped 3.35% from Diwali 2025 to Diwali 2026 while crude oil rose 54.11%. Originally reported by mint.
Market Overview
Indian equities lagged global benchmarks as Nifty 50 declined 2.59% and Sensex fell 3.35% between Diwali 2025 and Diwali 2026.
Sectoral Performance
Pharma and metal stocks led gains with Nifty Pharma rising 24.77% while FMCG, IT and realty stocks weighed on the market.
Commodities Rally
Crude oil surged 54.11% and copper gained 33.56% while gold and silver advanced 2.25% and 8.16% respectively.
Rupee Depreciation
Indian rupee depreciated around 7.1% against US dollar from ₹87.90 to ₹94.14.
Key Catalysts
Five potential catalysts could drive Indian equity market resurgence including India-US trade deal and Iran diplomatic resolution.
Nifty 50 Technicals
Nifty 50 extended seven consecutive sessions gains with 8.58% weekly rise and key resistance at 25,500.
Sensex Technicals
Sensex closed higher at 81,028 after moving above 20-day, 50-day, 100-day and 200-day EMAs.
Rupee Technicals
USD/INR pair declined 1.1% to settle near 93.89 with immediate resistance at 94.40, 94.50.
Crude Oil Technicals
MCX crude oil plunged 15% to ₹8,459 with support at ₹8,400 and resistance at ₹8,500.
Geopolitical Impact
US midterm elections triggered geopolitical risk concerns affecting crude oil prices and Indian markets.
Market Outlook
Sustained crude oil price moderation and FII buying could support equity market momentum through Diwali Muhurat Trading.
Rupee Stabilisation
RBI absorbed ₹25,000 crore through reverse repo auction to replenish foreign exchange reserves.
LTCG Relief
Potential LTCG taxation rationalisation could strengthen investor confidence and encourage foreign fund inflows.
Event Date
Diwali Muhurat Trading session scheduled for Sunday, 8 November 2026.
Market Risks
Elevated RSI levels and profit-taking could trigger consolidation and short-term corrections.
At a glance
Nifty 50 fell 2.59% and Sensex dropped 3.35% from Diwali 2025 to Diwali 2026 while crude oil rose 54.11%.
