Sensex Reclaims 80,000 Mark as Indian Markets Defy Global Tech Selloff

The BSE Sensex crossed the 80,000 mark in intraday trade on Friday, November 6, 2026, reclaiming a key psychological milestone it had last touched on March 5, 2026. The index touched an intraday high of 80,080.59 before trading at 80,027.74, up 717.73 points or 0.90 per cent, against its previous close of 79,310.01. Concurrently, the Nifty 50 rose 161.60 points or 0.66 per cent to 24,698, touching an intraday high of 24,702.60.

This domestic resilience materialized despite a severe overnight selloff on Wall Street. The Nasdaq tumbled 5.52 per cent, the S&P 500 fell 4.36 per cent, and the Dow Jones dropped 3.45 per cent, triggered by a broad unwinding of artificial intelligence and semiconductor trades following Democratic gains in the US midterm elections. Asian markets absorbed heavy fallout as well, with Japan’s Nikkei 225 plunging approximately 5.9 per cent and South Korea’s Kospi losing over 8.5 per cent, briefly triggering a circuit breaker. Individual US equities saw sharp pullbacks, with SanDisk falling 15 per cent, AMD dropping 12 per cent, and Tesla shedding 10 per cent.

India’s relative market stability was supported by a firmer rupee, moderating crude oil prices, and sustained foreign institutional investor buying. The USD/INR pair traded around 94.40, extending its decline for a sixth consecutive session, aided by Reserve Bank of India measures to curb speculative activity and a softer US dollar. Meanwhile, WTI crude oil hovered near $92 per barrel, and Brent crude headed toward its steepest weekly decline since April 2020 amid shifting assessments of Middle Eastern geopolitics.

Market breadth on the BSE showed 3,032 stocks advancing against 1,324 declines, with 187 unchanged out of 4,543 traded stocks. A total of 117 stocks hit 52-week highs, while 60 touched 52-week lows. Leading the Nifty gainers was Mahindra & Mahindra, rising 3.55 per cent to ₹3,238.50, alongside Titan, HDFC Bank, ICICI Bank, and NTPC. Conversely, Shriram Finance, Eicher Motors, Tata Motors (TMPV), Hindalco, and BEL registered losses.

Interestingly, information technology stocks bucked the global trend by gaining more than 1 per cent and emerging as early session outperformers. Banking and financial stocks provided substantial volume and support, led by heavy trading in HDFC Bank and ICICI Bank. Meanwhile, precious metals came under pressure, with COMEX gold trading around $4,055 and silver declining to roughly $51.50 per ounce, as traders awaited the US nonfarm payrolls report.

Technical analysts noted that the Nifty’s RSI remained in the mid-70s, reflecting strong bullish momentum alongside potential overbought conditions. Immediate resistance was pegged at 24,700–24,800, with support stationed at 24,300–24,400. Market experts attributed the broader recovery to resilient earnings growth, strong large-cap valuations, and renewed foreign participation following an eight-month market correction.

"The ability of the Indian stock market to decouple from heavy global tech selloffs and reclaim the 80,000 mark highlights strong domestic fundamentals, steady FII inflows, and robust corporate earnings. While external headwinds and geopolitical variables require cautious navigation, this milestone reflects resilient investor confidence in the broader Indian economy and its core sectors." — Dr. Shishir Gupta, Founder & CEO, StartupLanes