Welcome to the weekly edition of Aftermarket Report, where we wrap up the week in the markets and take you through everything that mattered, both in India and globally.
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We’re also experimenting with a weekly edition of the Aftermarket Report, and we’d love to know what you’d find useful in it.
Unlike the daily report, the idea here is to step back from individual trading sessions and look at the bigger picture — what changed over the week, where trends are building, how sectors and themes are moving, how positioning has shifted, and what the data tells us when viewed over a longer timeframe.
We’re exploring everything from weekly market breadth, sector and thematic trends, F&O positioning and flows to volatility, commodities, global markets, and more. But we want to know what you would like to track.
What data points, transformations, ratios, comparisons, charts, or indicators would make a weekly market wrap genuinely useful for you?
Tell us what you’d like to see. Your feedback will help us shape the weekly edition of the Aftermarket Report.
Weekly market performance
Nifty fell 2.36% to 22,600, reversing the previous week's recovery as broader market weakness continued. India VIX climbed to 16.86, while 748 stocks hit fresh 52-week lows during the week against just 102 new highs across the NSE.
The broader market remains firmly in a downtrend, with Nifty trading 5.6% below its 40-week moving average. Only 9.6% of liquid NSE stocks are above their 50-day average, while India VIX rose to 16.86, reflecting elevated volatility and weak participation.
What is the macro backdrop doing?
India's 10-year government bond yield rose 12 bps to 7.52%, its highest level in a year, while the rupee traded at ₹94.93 per dollar. Crude oil gained 0.96% during the week, while gold and silver declined 3.12% and 5.49%, respectively.
Momentum strategies outperformed reversal strategies this week, although both groups recorded steep losses. Momentum has outperformed in nine of the last 13 weeks, while low-volatility stocks have held up significantly better than high-beta stocks over four weeks.
Fear & Greed trend
Market Breadth
Valuation Check
Nifty trades at 19.05× earnings, near its lowest valuation levels in five years, while smallcaps remain relatively expensive at 31.20×. The equity risk premium stood at -2.27%, compared with its five-year median of -2.42%, as rising bond yields continued to weigh on relative equity valuations.
Sectoral summary
IT, Media, Telecom and Private Banks remain the strongest sectors relative to Nifty 500 over 13 weeks, with IT outperforming by 18.9 percentage points. PSU Banks, Banks, Financial Services and Oil & Gas moved into the leading quadrant, while Pharma and Healthcare continued losing momentum.
Selective stock screeners
Deals of the week
Institutional flows & positioning
FPIs bought ₹1,299 crore during the week, while DIIs purchased ₹10,942 crore. However, over four weeks, foreign outflows totalled ₹73,192 crore, against domestic inflows of ₹82,523 crore, highlighting continued dependence on domestic institutional support.
Options imply a ±1.23% Nifty move by October 27 expiry, with implied volatility rising sharply from 10.8% to 14.7%. FIIs remain heavily bearish with 2.80 lakh net short index-futures contracts, while short buildup dominated 99 of 213 stock futures.
Week ahead
Check out Weekly market metrics
We’re in Week 43 of 2026, and markets are under significant pressure. NIFTY fell 2.36% this week to close at 22,600, taking its decline to around 14% from its yearly peak. The correction has been particularly sharp in small- and mid-cap stocks, while India VIX surged to its highest level since May. With NIFTY approaching a crucial support zone, gold and silver sliding alongside equities, and monthly expiry and the US Fed’s rate decision coming up, there’s plenty to watch in the week ahead.
That’s it for this edition. We’d love to hear your feedback in the comments, and feel free to share this with your friends to spread the word!