6 hrs ago
Nifty Drops 11% Between Navratri Periods Amid Global Headwinds
India’s Nifty stock index fell 11% between Navratri in 2025 and Navratri in 2026.
Many stocks went down even though Indian institutions continued buying shares and the economy remained resilient.
Market watchers pointed to worries around global conflicts, oil prices, the rupee and bond yields.
Foreign investors also sold a large amount of Indian shares.
Several well-known companies lost more than 30% of their value.
Shriram Finance moved in the opposite direction and rose nearly 49%.
Analysts expect shares to move within a range for now.
They say investors will watch oil prices, bond yields and company results.
The Nifty fell 11% between Navratri 2025 and Navratri 2026, despite domestic institutional investor support and resilient economic growth.
Market participants cited geopolitical tensions, higher oil prices linked to the US-Iran conflict, a weaker rupee, rising global bond yields and foreign investor selling.
Foreign investors sold Indian equities worth Rs 3.04 lakh crore so far in 2026, after net outflows of Rs 1.66 lakh crore in 2025.
Thirty-one Nifty stocks fell; ITC, Tata Motors PV, Infosys, Jio Financial Services and Tata Consultancy Services each declined more than 30%.
Shriram Finance gained nearly 49%, while analysts expect a range-bound market as investors track oil prices, bond yields and corporate earnings.
- Who
- Indian equity markets, including Nifty-listed companies, and domestic and foreign investors.
- What
- The Nifty fell 11% between Navratri 2025 and Navratri 2026, with most constituents declining.
- Where
- India’s equity market.
- When
- Between Navratri 2025 and Navratri 2026; the report also cites foreign equity outflows so far in 2026.
- Why
- Market participants attributed the decline to global and geopolitical uncertainty, elevated oil prices, a weakening rupee, rising global bond yields and foreign investor selling.
Factors Supporting the Market
Pressures on the Market
Domestic fundamentals versus global risks
Factors Supporting the Market
Domestic institutional investors continued to support the market, and economic growth was described as resilient.
Pressures on the Market
Global economic and geopolitical uncertainty, including the US-Iran conflict and elevated oil prices, weighed on sentiment.
Earnings versus macroeconomic concerns
Factors Supporting the Market
Second-quarter corporate earnings are expected to remain healthy.
Pressures on the Market
Analysts say macroeconomic concerns could limit a sustained rally, with foreign selling, a weaker rupee and rising global bond yields adding pressure.
Key facts
- Nifty change
- Down 11% between Navratri 2025 and Navratri 2026.
- Foreign selling in 2026
- Rs 3.04 lakh crore in Indian equities sold so far in 2026.
- Foreign outflows in 2025
- Net outflows of Rs 1.66 lakh crore.
- Declining constituents
- 31 Nifty stocks recorded negative returns.
- Worst performers
- ITC, Tata Motors PV, Infosys, Jio Financial Services and Tata Consultancy Services each fell more than 30%.
- Top performer
- Shriram Finance rose nearly 49%.
- Near-term outlook
- Analysts expect a range-bound market, with oil prices and global bond yields among the factors investors monitor.
Sources
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