India’s Sensex and Nifty benchmarks have fallen sharply since Diwali 2025, with the Sensex down more than 10,750 points and the Nifty nearly 2,000 points lower as of October 26, 2026.

Key Takeaways

  • The Sensex slipped below 73,600 from around 84,400 at Diwali 2025, while the Nifty fell below 22,800.
  • Both indices recovered from 52-week lows reached earlier in October 2026 but remained well below their post-Diwali highs.
  • Midcap and small-cap indices also declined over the period, though by less than the benchmarks.

Sensex and Nifty after a volatile year

The Sensex was trading at around 84,400 when India celebrated Diwali in October 2025. It went on to cross 86,000 for the first time in early December before reversing course in 2026.

The steepest period included March 2026, when the Sensex lost nearly 9,340 points and the Nifty dropped 2,500 points. The declines coincided with conflict in the Middle East and a surge in oil prices, as well as selling by foreign institutional investors.

Earlier in October, the Sensex reached a 52-week low of 71,293 and the Nifty fell to 22,180. Both had recovered some ground by October 26.

Broader market losses and the latest close

The Nifty Midcap 10 index fell nearly 5% and the Nifty Smallcap 250 index dropped around 4% since Diwali 2025. Over the same period, the total market capitalisation of BSE-listed companies fell by nearly Rs 14 lakh crore, despite several major new listings.

Axis Direct’s October 28 technical report said the Nifty ended the previous session at 22,750, down 3 points.

Brokerage outlook for Samvat 2083

Axis Securities said earnings visibility, valuations and stock selection would remain important after the sell-off. It identified potential market influences including oil prices, interest rates, foreign investor flows, the rupee and corporate earnings.

Those are factors to monitor rather than confirmed drivers of future index performance.

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