Despite Sensex and Nifty concluding Samvat 2082 with negative results—a decline of 4% and 3.1% respectively—they demonstrated a sharp late surge that provided them with the largest weekly gain in nearly six years. This strong finish marked the end of the weakest Samvat period in the last 15 years.
Ultimately, both indices showed a weekly growth of between 8.6–8.8%, which is their best performance in almost six years. Nevertheless, the Samvat 2082 period ended with a 3.1% drop in Nifty 50 and a 4% drop in Sensex, marking the worst performance during the Samvat period since 2011, when both indices fell by 17.4%. This contrasts with Samvat 2081, when the benchmarks grew by 6.8% and 6.3% respectively.
Dhiraj Relli, Managing Director and CEO of HDFC Securities, noted that Samvat 2082 tested all investors in India. Factors influencing the market included high crude oil prices, Middle East tensions, US tariff disruptions, and inflation concerns. These factors, combined with stretched valuations and a global tilt towards Artificial Intelligence (AI)-based markets, led to foreign investors selling assets worth about $31.3 billion in Indian stocks in 2026.
Relli added that by the end of October, Sensex had lost over 10,750 points from Diwali levels, and Nifty had dropped by almost 12%. However, he also pointed out that hopes for changes in long-term capital gains taxes and sustained corporate profits helped restore sentiment, adding nearly 4 trillion rupees to market capitalization during the recent recovery.
Domestic stocks were under pressure since the start of the conflict in the Middle East in late February. The fall of Nifty to nearly 22,200 was linked to rising crude oil prices and disruptions around the Strait of Hormuz, which heightened concerns about India's oil-import-dependent economy. The recovery occurred due to improved expectations regarding a possible de-escalation between the US and Iran following the US Congress elections, as well as growing doubts about the sustainability of the global AI-driven investment boom.
Broader market performance was relatively better. Nifty Midcap 100 concluded Samvat 2082 with a 2.1% gain, although this was lower than the 5.8% increase in the previous year. Nifty Smallcap 100 increased by 4.2%, recovering from a 2.1% decline in Samvat 2081.
At the sectoral level, the Nifty Pharma, Metal, and Capital Markets indices showed the highest growth, increasing by 22–25%. Among the least successful were the Nifty Information Technology, India Tourism, Cement, and FMCG (Fast-Moving Consumer Goods) indices, which declined by 7–17%.
Pankaj Pandey, Head of Research at ICICI Securities, stated that despite a year of increased volatility in Indian equities, Samvat 2082 ended on a positive note. Pandey noted that Nifty 50 companies' earnings in the second quarter of the fiscal year 2026-27 (Q2FY27) were high, and valuations moderately decreased to about 17 times, which is below the 10-year average. Furthermore, the global macroeconomic environment improved as Foreign Portfolio Investors (FPIs) returned as net buyers amid easing concerns over US Treasury yields and crude oil prices.
Pandey concluded that the combination of increased foreign inflows, sustained corporate profits, and relatively attractive valuations favors Indian markets, and the resolution of geopolitical conflicts could be an additional stimulus for domestic stocks to reach new highs in the next Samvat.
