---
title: "Nifty’s best week in five years: up 8.6% as FPIs bought and chip stocks fell 12%"
summary: "NSE, NSDL and Nasdaq data for 2 to 6 November: the Nifty 50’s 8.58% week, foreign investors’ net equity buying, and the chip index’s second-worst day since 1999."
url: https://www.thetechbag.com/blog/nifty-best-week-fpis-buy-as-chip-index-falls
format: Trend
desk: "Markets & the AI economy"
region: India
published: 2026-11-07
facts_checked: 2026-11-07
author: TechBag (The TechBag Journal)
tags: ["Nifty 50","Nifty IT","NSE","NSDL","foreign portfolio investors","FPI flows","PHLX Semiconductor index","SOX","Nasdaq Composite","semiconductors","AI trade","TAIEX","US midterms","share prices"]
cover: https://www.thetechbag.com/blog/covers/nifty-best-week-fpis-buy-as-chip-index-falls.png
---

# Nifty’s best week in five years: up 8.6% as FPIs bought and chip stocks fell 12%

*NSE, NSDL and Nasdaq data for 2 to 6 November: the Nifty 50’s 8.58% week, foreign investors’ net equity buying, and the chip index’s second-worst day since 1999.*

Trend · Markets & the AI economy · By TechBag · Published 2026-11-07 · Facts checked 2026-11-07 · Canonical: https://www.thetechbag.com/blog/nifty-best-week-fpis-buy-as-chip-index-falls

The short version

1. The Nifty 50 closed at 25,030.35 on Friday 6 November, up 8.58% on the week from 23,053.10: its best week since February 2021 and the third-best since 2020, by NSE’s daily closes.[1][2][3]
2. Foreign portfolio investors bought a net ₹38,519 crore (US$4.07bn) of Indian shares through the stock exchanges in NSDL’s five reports of 2 to 6 November, more than in any full month this year. In the first ten months they sold a net ₹2,95,145 crore.[4][6]
3. In New York the PHLX Semiconductor index fell 12.25% on 5 November, its second-worst day in Nasdaq’s data since 1999, and ended the week 35.8% below its June record. Commentators link the two moves; the data show the timing, not the route the money took.[7][10]

Two indexes went opposite ways in the same five days. India’s benchmark had its best week in more than five years while the index of US-listed chip companies had one of its worst, and foreign investors, net sellers of Indian shares in seven of the first ten months of 2026, bought on every reporting day. This piece sets the three series side by side from the exchanges’ and the depository’s own data, shows how to read the foreign-investor numbers, and separates what is measured from what is attributed.

## The line: India up, chips down

The Nifty 50 rose on all five days: 1.68% on Monday, then 1.58%, 0.63%, 2.40% and 2.01% on Friday.[3] Measured Friday close to Friday close, only two weeks since 2020 were better: the week to 9 April 2020 (+12.7%) and the week to 5 February 2021 (+9.5%). The index is 12.6% above its 2026 low of 22,231.80 on 8 October and still 4.9% below its record close of 26,328.55 on 2 January.[3]

**Figure: The Nifty 50 rose 8.6% in the week the chip index fell 12%**

*Daily close, indexed to 100 on Friday 30 October, 30 October to 6 November 2026*

|  | Nifty 50 | Nifty IT | PHLX Semiconductor (SOX) |
| --- | --- | --- | --- |
| 30 Oct | 100 | 100 | 100 |
| 2 Nov | 101.7 | 99.5 | 96.6 |
| 3 Nov | 103.3 | 99.8 | 99.2 |
| 4 Nov | 103.9 | 98.3 | 96.1 |
| 5 Nov | 106.4 | 100.7 | 84.3 |
| 6 Nov | 108.6 | 101.1 | 87.9 |

Source: NSE daily index closing files; Nasdaq historical data (PHLX Semiconductor index); TechBag indexing · as of 6 November 2026 · Nifty IT shown muted for comparison

The PHLX Semiconductor index (SOX), which tracks US-listed chip designers, makers and equipment suppliers, had already fallen 7.2% on 30 October, before the week began. On Thursday 5 November it fell 12.25%, from 10,268.65 to 9,011.14. In Nasdaq’s data, which begin in January 1999, only 16 March 2020 (−15.9%) was worse. It rose 4.21% on Friday, ended the week 12.15% lower and closed 35.8% below its record of 14,634.72 on 22 June.[7] The Nasdaq Composite fell 5.52% on Thursday and ended the week 10.9% below its 6 October record, past the 10% fall that markets call a correction.[8] In Taipei the TAIEX fell 12.2% over the same week, as [we reported on Friday](https://www.thetechbag.com/blog/taiex-down-12-percent-week-kospi-halt).

India’s own technology index followed neither line. The Nifty IT rose 1.14% in the week to 32,977.90, still 28.3% below its record close of December 2024. Its large move came three weeks earlier: 11.7% in the week to 16 October, its best week since 2020.[1][3]

TechBag countHow we ranked the week

We read NSE’s daily closing file for every weekday from 2 December 2019 to 6 November 2026, 1,715 trading days, took the last close of each week (Thursday where Friday was a holiday) and ranked the week-on-week changes. The distances from the record and the 2026 low use the same closes. The SOX ranking is the same arithmetic on Nasdaq’s daily closes.[3][7]

## The money: five days of buying after ten months of selling

NSDL, the depository that compiles foreign portfolio investors’ trades from their custodians’ reports, published net equity buying in every report of the week. Through the stock exchanges FPIs bought a net ₹38,519 crore, or US$4.07bn at the rates NSDL applies; with primary-market and other purchases, ₹38,971 crore.[4][5] The largest single figure, ₹16,169 crore, was published on 6 November and covers trades of 5 November.[5]

**Figure: Foreign investors' net buying grew through the week, to ₹16,169 crore in a day**

*FPI net investment in equity through the stock exchanges, ₹ crore, by trade date, NSDL reports of 2 to 6 November 2026*

|  | Net equity buying |
| --- | --- |
| 30 Oct | 4,319 |
| 2 Nov | 3,271 |
| 3 Nov | 6,899 |
| 4 Nov | 7,861 |
| 5 Nov | 16,169 |

Source: NSDL, Daily Trends in FPI Investments · as of 6 November 2026 · each NSDL report carries the previous trading day's trades; 6 November's trades appear on 9 November

ReportedHow to read NSDL's numbers

**The lag.** Each report carries the trades of the previous trading day: the report dated 2 November holds Friday 30 October’s trades, and Friday 6 November’s will appear on Monday 9 November. NSDL’s note says its confirmed data are compiled “on the basis of reports submitted to depositories by Custodians”, while the exchanges’ provisional figures come from trading members on the day itself.[4] The two series differ: Upstox put FII buying at “around ₹22,693 crore so far in November” without naming its data.[11] Say which series you quote.

**Equity and debt.** They are separate lines. In November so far FPIs also put a net ₹4,319 crore into Indian debt, ₹4,718 crore of it through the Fully Accessible Route for government bonds.[6] The rupee rate in NSDL’s table went from ₹95.25 to the dollar on 2 November to ₹94.40 on 6 November.[4][5]

The week reverses the year. By NSDL’s monthly table FPIs were net sellers of Indian equity in seven of the first ten months of 2026, ₹2,95,145 crore in all by our sum, including ₹1,17,775 crore in March and ₹34,843 crore in October. Their largest buying month was August, at ₹29,631 crore; November’s first five reports, at ₹38,971 crore, already exceed it.[6] NSDL’s months run by reporting date, so 30 October’s trades count in November.

Money left Taiwan in the same days: foreign investors sold a net NT$524.38bn of shares on the Taiwan Stock Exchange in the week of 2 to 6 November, by the exchange’s figures.[9] Neither data set shows whether the funds that sold in Taipei are the ones that bought in Mumbai.

## Why, by whose account, and what to watch

**The chip fall.** Yahoo Finance’s Jared Blikre wrote that after Democrats won control of both chambers of Congress “the focus shifted to what a Democratic Congress could mean for the AI build-out”, and that Thursday’s drop built on the 30 October sell-off, which had erased more than US$1tn of tech market value “over doubts about AI spending”.[10]

**India’s rise.** Upstox’s weekly wrap listed foreign buying, “a sharp correction in crude oil prices” (Brent down more than 16% in the week, to US$97.75 a barrel, by its figures), earnings, the US election result and “a potential near-term end to the escalations in West Asia”. It said foreign investors “appeared to favour markets offering relatively attractive valuations and growth potential”, and called it an emerging “anti-AI trade”.[11] The argument predates the week: on 26 October V K Vijayakumar, chief investment strategist at Geojit Investments, told Business Today that “the weakening of the AI trade is positive for India” and that in September and October FPI selling in South Korea and Taiwan had been larger than the outflow from India.[12]

TechBag countWhat is measured, and what is a reading

Measured: index closes and the depository’s net flows, day by day. A reading: that money moved from chip stocks into India. NSDL counts what foreign investors did in India, not what they sold elsewhere, and none of the sources we read traces a fund that did both. The timing fits the reading; it does not prove it.

**What to watch.** NSDL’s report of Monday 9 November will carry Friday’s trades, the first day after the chip index’s fall.[5] The Nifty needs another 5.2% to regain its 2 January record of 26,328.55.[3] The SOX is 35.8% below its June peak.[7] The coverage ties the two lines together; the next weeks of both series will show whether they keep moving in opposite directions, and NSDL’s monthly table whether November ends as 2026’s first large month of foreign buying.

How we did this

Figures as of 7 November 2026, 4pm IST

Index levels are NSE’s closing values from its daily index closing files, read for every weekday from 2 December 2019 to 6 November 2026; weekly changes are Friday close to Friday close (the last trading day where Friday was a holiday), and the ranking, the indexing to 100 and the distances from record and low are TechBag arithmetic. SOX and Nasdaq Composite closes are from Nasdaq’s historical data, which begin in January 1999. FPI flows are NSDL’s confirmed figures by reporting date: “through the stock exchanges” is NSDL’s Stock Exchange route for equity; the ₹38,971 crore adds primary market and others; US dollar values use the conversion rate NSDL prints for each day. Monthly figures are NSDL’s calendar-year table up to 6 November; the ten-month sum is ours. Taiwan’s figure is the Taiwan Stock Exchange’s. Causes are attributed to the named writers; none is ours. Upstox’s description of the week as the longest winning streak in three years is not used: NSE closes show longer runs in September 2024 and September 2025.

Spotted an error? Write to us; corrections are published at the foot of the piece.

Sources

1. [NSE, daily index closing values (ind_close_all), 6 November 2026](https://nsearchives.nseindia.com/content/indices/ind_close_all_06112026.csv) — 6 November 2026
2. [NSE, daily index closing values (ind_close_all), 30 October 2026](https://nsearchives.nseindia.com/content/indices/ind_close_all_30102026.csv) — 30 October 2026
3. [NSE, daily index closing files for every trading day, Nifty 50 and Nifty IT (historical index data)](https://www.nseindia.com/reports-indices-historical-index-data) — 2 December 2019 to 6 November 2026 1,715 daily files; weekly changes, rankings and distances are TechBag arithmetic.
4. [NSDL, Daily Trends in FPI Investments, November 2026 (reporting dates 2 to 6 November)](https://www.fpi.nsdl.co.in/web/Reports/Monthly.aspx) — 6 November 2026
5. [NSDL, Daily Trends in FPI Investments on 06-Nov-2026 (latest report)](https://www.fpi.nsdl.co.in/web/Reports/Latest.aspx) — 6 November 2026
6. [NSDL, Monthly FPI Net Investments, calendar year 2026](https://www.fpi.nsdl.co.in/web/Reports/Yearwise.aspx?RptType=6) — up to 6 November 2026
7. [Nasdaq, PHLX Semiconductor index (SOX) historical data](https://www.nasdaq.com/market-activity/index/sox/historical) — January 1999 to 6 November 2026
8. [Nasdaq, Nasdaq Composite (COMP) historical data](https://www.nasdaq.com/market-activity/index/comp/historical) — 6 November 2026
9. [Taiwan Stock Exchange, trading value of foreign and other investors (BFI82U), week of 2 to 6 November](https://www.twse.com.tw/rwd/en/fund/BFI82U?type=week&weekDate=20261106&response=json) — 6 November 2026
10. [Yahoo Finance, Jared Blikre: Chip stocks slaughtered as Wall Street suffers worst post-midterm day since 1896](https://finance.yahoo.com/markets/article/chip-stocks-slaughtered-as-wall-street-suffers-worst-post-midterm-day-since-1896-213204256.html) — 5 November 2026 (US time)
11. [Upstox, Ahana Chatterjee: Market weekly wrap: SENSEX jumps 6,568 pts, NIFTY50 rallies 9% as FIIs return](https://upstox.com/news/market-news/stocks/market-weekly-wrap-sensex-jumps-6-568-pts-nifty-50-rallies-9-as-fi-is-return-top-factors-explained/article-203148/) — 7 November 2026, 11:21 IST
12. [Business Today, Amit Mudgill: BT Explainer | AI trade unravels: Is Indian stock market set to gain?](https://www.businesstoday.in/markets/stocks/story/bt-explainer-ai-trade-unravels-is-indian-stock-market-set-to-gain-563662-2026-10-26) — 26 October 2026

Related on TechBag: [Taiwan’s 12.2% week and Korea’s halt](https://www.thetechbag.com/blog/taiex-down-12-percent-week-kospi-halt), [the local data-centre ballots of 3 November](https://www.thetechbag.com/blog/data-centres-lose-40-of-41-ballots-kospi) and the [IT & ITES industry guide](https://www.thetechbag.com/industries/it-ites).

**Disclosure.** TechBag is a software reseller: it earns a margin when a reader buys through it, including from vendors named here. The analysis is TechBag’s own; no vendor paid for or saw this piece before publication. Facts are labelled reported, TechBag count or our view.

**Read this next:** [Taiwan’s TAIEX fell 12.2% in a week; Korea halted KOSPI trading](https://www.thetechbag.com/blog/taiex-down-12-percent-week-kospi-halt) — The same week in Taipei and Seoul: Taiwan’s TAIEX fell 12.2% and Korea halted KOSPI trading, with how its circuit breaker works.

Go deeper on TechBag

- [The IT & ITES industry guide](https://www.thetechbag.com/industries/it-ites) — what India's IT services firms, the Nifty IT's companies, buy, with every claim sourced and dated
- [AI revenue at India's four IT majors](https://www.thetechbag.com/blog/indian-it-ai-revenue-share-growth) — up to 29% in a quarter while their total revenue grew 0–2.3%
- [Big Tech's quarterly capex line](https://www.thetechbag.com/blog/big-tech-ai-capex-quarterly-line) — the AI spending the chip index rose and fell on: US$202bn in a quarter