Nifty Reclaims 23,000 With 2.59% Weekly Gain as Sensex Adds 1.83% Led by Pharma and Healthcare
Indian frontline equity benchmarks staged a strong rebound during the trading week ended October 30, 2026, breaking a multi-week losing run. The NSE Nifty 50 gained 2.59% over the week, rising from the previous week's close of 22,471.65 to settle above the key psychological threshold at 23,053.10. The 30-share BSE Sensex added 1,335.7 points, or 1.83%, to finish at 74,459.53.
The weekly rally was overwhelmingly anchored by defensive buying across pharmaceutical and healthcare counters.
Key Sectoral Highlights:
- Nifty Pharma: Emerged as the standout gainer of the week, rallying 6.10%.
- Nifty Healthcare: Followed closely with an advance of 6.08%.
- Nifty IT: Added a modest 0.57% over the week.
Broader Markets Diverge
Despite the solid performance in headline indices, the broader market showed sharp divergence. While institutional and retail buying shielded large-cap benchmarks, broader market segments experienced selling pressure:
- Nifty Midcap 150: Declined 0.72% over the week.
- Nifty Smallcap 250: Fell 1.63%.
Day-by-Day Market Trajectory
The benchmark's weekly performance was shaped by a strong opening and a decisive midweek push:
- Monday, October 26: The Nifty started the week with momentum, opening at 22,753.20—up 1.25% from the prior Friday—and added 0.68% by the close.
- Tuesday, October 27: Momentum paused as the index slipped 0.02% to close at 22,749.75.
- Wednesday, October 28: Ahead of key international monetary policy cues from the US Federal Reserve and major domestic market events, the index eased 0.22% to 22,698.85.
- Thursday, October 29: Markets recorded their sharpest move of the week as the Nifty jumped 237.90 points, or 1.05%, setting the stage for the weekly breakout.
- Friday, October 30: Frontline indices held onto their gains, closing at 23,053.10, up 116.35 points or 0.51% on the day.
Volatility and Macroeconomic Cues
Market volatility subsided notably over the five-day period. India VIX cooled by 9.37% across the week to settle at 15.28, although it ticked higher by 1.19% on Friday as geopolitical headlines briefly weighed on global risk sentiment.
Domestic equities absorbed substantial macro cross-currents during October, including elevated Brent crude prices testing $117.84 per barrel and cumulative foreign portfolio equity outflows reaching ₹48,056 crore for the month. Despite these external headwinds, the heavy rotation toward cash-rich, defensive sectors such as pharma and healthcare allowed domestic benchmarks to post a resilient close to the week.
