Week to 16 October: Nifty +2.8%, FII selling streak ends

The index: a rebound from the year's low

The Nifty 50 closed the week at 23,146.15, up 2.78% from 22,520.45 the Friday before. On 8 October it closed at 22,231.80, its lowest level of the past 12 months and a P/E of 19.02, the lowest of that period too. Since that day it has recovered 4.1%.

The Nifty 50 is still 9.5% below its level of a year ago (25,585.30) and 12.1% under its 2 January close of 26,328.55, the high of the past year. Our October P/E post puts the 19.77 in the context of the last five years.

Sectors: IT did most of the work

The Nifty IT index added 11.72% in five sessions, from 28,574.90 to 31,924.10, and 15.1% since 8 October. It closed higher on four of the five days. Its P/E went from 17.98 to 19.75. Autos came second. Small and mid caps lagged the large caps: Midcap 150 gained 0.62% and Smallcap 250 0.36%, against 2.78% for the Nifty 50. Only two of the 13 indices fell, FMCG and pharma. Our one-month review of equity funds shows how this played out for fund categories.

Flows: the streak breaks on Friday

On NSE's provisional cash-market figures:

From 24 September to 15 October, FIIs were net sellers on all 15 sessions, ₹84,138 crore in total, and DIIs net buyers on all 15, ₹82,382 crore. On Friday both flipped: FIIs bought ₹1,166 crore and DIIs sold ₹3,661 crore, the first DII net sale since at least 24 September. One day is not a trend; the same data shows FII selling on 4 of the 5 days of the week. Our nine-session streak post tracked the early part of the run, and the October flows page has the month so far. The live series is on the FII/DII data page.

Gold and silver: a heavy week for silver

Silver fell more than twice as fast as gold, so a gram of gold now buys 73.4 grams of silver, up from 69.5. Gold is 19.3% below its 29 January 2026 high of ₹15,738.11, and silver is 48.8% below its 26 January high of ₹338.55. Both prices remain well above where they were two years ago: gold was ₹5,179.26 on 16 October 2023. The year-to-October metals post has the month-by-month view.

What the numbers do not tell you

A week is a short window. The Nifty rose 2.78% in this one, after falling to a one-year low the week before; neither says what the next week brings.

One sector can carry an index. IT's 11.72% did most of the work; the median of the 13 indices above was a 1.13% gain.

Flows are provisional. NSE's cash-market figures are revised later, and they leave out derivatives and primary-market buying.

None of this is a recommendation to buy or sell any asset.