Nifty snaps eight-week losing streak, its longest since 2001, with 0.4% gain

The Nifty 50 index ended the week to Friday, October 9, 2026, with a small gain of 98.5 points, or about 0.4%, breaking a run of eight straight weekly losses, its longest such streak since 2001. The index closed Friday at 22,520.45, up 288.65 points or 1.3% on the day, above the previous Friday's close of about 22,422, the level analysts had flagged as the line between a ninth weekly loss and a break in the streak. The Sensex closed Friday at 72,472.33, up 879.09 points or 1.23%. Friday's rebound came after a sharp fall on Thursday and was led by IT and consumer stocks as crude oil prices eased.

Eight weeks of losses in a row is unusual for India's main stock index, and the streak had become a symbol of how heavy the mood in the market had turned. Through this period, foreign investors were steady sellers, the rupee hit record lows and crude oil prices climbed on tensions in the Middle East. Ending the run, even by a small margin, gives investors a first sign that selling pressure may be easing.

The way the week ended is telling. Thursday's sharp fall had put the index on course for a ninth weekly loss. On Friday, easing oil prices helped turn sentiment, after US President Donald Trump said the US would not strike Iran before the November midterm elections. Lower oil is good news for India, which imports most of its crude, because it eases pressure on inflation, the rupee and company costs. IT stocks also rallied, adding weight to the rebound.

Analysts remain cautious. Technical analysts had pointed to a pattern of lower highs and lower lows on the charts, which typically signals that a downtrend is still in place. One good week does not reverse that by itself. The coming week brings September's consumer inflation data and the start of second-quarter results from large IT companies, both of which could swing the market either way.

For ordinary investors, the lesson is about perspective. Long losing streaks feel alarming, but markets rarely move in straight lines. Investors with a long horizon generally do better by sticking to their plans than by reacting to each weekly swing.

Short-term: The end of the streak may lift sentiment at the start of next week, but oil prices, foreign selling and quarterly results will decide whether the rebound lasts.

Long-term: A sustained recovery would need foreign investors to stop selling and the rupee to stabilise; until then, rallies may remain fragile.

Who is affected: Equity investors and mutual fund holders, traders, listed companies, and foreign portfolio investors tracking Indian markets.

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