Finnovate Weekly Capsule (Nov 9–Nov 13, 2026)

Written by Finnovate

Finnovate’s editorial team researches and creates financial content using trusted sources, regulatory references and inputs from subject experts.

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Foreign investors bought about ₹84,000 crore ($8.9 billion) of Indian equities in November so far, according to reported data, and the Nifty ended the week at 25,144.30, up 0.46% for the week and about 11.7% above its October 9 close. Retail inflation rose to 6.09% in October, breaching the RBI's 6% upper band for the first time in two years, which keeps a December rate hike in focus, while Nvidia co-founder Jensen Huang resigned as CEO on Thursday. Brent settled at $95.84 and gold had its worst week in four months. Here is what mattered this week and why it matters to you.

Global and Geopolitical

1. US inflation rises 0.4% in October: Fed December hike odds stay high

• US consumer prices rose 0.4% month on month in October against the 0.3% economists expected, after a 0.6% rise in September. Core inflation, which excludes food and energy, rose 0.3% against a 0.2% forecast. The Bureau of Labor Statistics did not publish a year-on-year figure because it could not collect October 2025 prices during the government shutdown, so there is no base to compare against.
• Before the data, CME FedWatch showed better than an 80% chance of a quarter-point hike at the Fed's December 8 to 9 meeting, and one market report put it at about 84% to 90% afterwards, with a half-point move at 10% to 15%. Fed Governor Christopher Waller has said a core reading near 0.3% or higher would put the larger move in play. The US 10-year Treasury yield moved toward 5% after the data, and the India 10-year yield was around 7.25% on November 11 as higher US yields and bond supply concerns pushed Indian bond prices down.

2. Nvidia CEO Jensen Huang resigns: Kress named interim CEO, AI stocks wobble

• Nvidia announced on November 12 that co-founder Jensen Huang has resigned as president, CEO and board member with immediate effect, and CFO Colette Kress will serve as interim CEO while the board searches for a successor. Harvey Jones was appointed the board's first Chair, and no reason was given for the resignation. It followed Huang's acknowledgement on November 8 of an extramarital relationship that media reports linked to a woman US officials suspect of working for Chinese intelligence. China's foreign ministry rejected the espionage allegations, and Nvidia's board has opened an independent investigation, saying it has seen no evidence that national security or company secrets were compromised.
• Nvidia shares fell about 4% on Monday and 5.5% on Tuesday, wiping roughly $400 billion to $430 billion off its market value over two sessions, and Tuesday's close of $168.89 was about 31% below an intraday peak of $243.37, according to one report that does not date the peak. The company reports its fiscal third-quarter results on November 17. Nifty IT fell 0.79% on Friday, and one report linked part of the day's decline in Indian equities to renewed uncertainty in global AI stocks.

3. Brent settles at $95.84 as Trump says no Iran deal is needed: Hormuz risks persist

• Brent crude settled at $95.84 a barrel on Friday (January contract), roughly flat on the day and about 2% lower for the week, after a 16% fall the week before. President Trump wrote that the US does not need a deal with Iran and is keeping its blockade in place, which undercut back-channel talks. Iran's military said four oil tankers were hit in the Strait of Hormuz on Thursday, which Reuters could not verify, and Verisk Maplecroft counted 36 confirmed attacks on commercial ships in the Gulf region in October, the most in any month since the war began.
• Why it matters to you: Brent at $95.84 and the rupee near ₹94.24 put crude at roughly ₹9,030 a barrel, about 10% lower in rupee terms than the roughly ₹10,000 a barrel on October 9, which may ease pressure on the import bill and inflation. The IEA expects the oil market to be in surplus this quarter for the first time since the war began, but attacks on shipping and Houthi strikes on Saudi energy sites keep supply risk alive.

4. India's Russian fossil fuel purchases reported at about €6.4 billion in October

• India's imports of Russian fossil fuels were reported at about €6.4 billion in October, of which about €5.8 billion was crude oil, roughly 10% above September levels as refiners' demand rose. Russia's fossil fuel earnings are reported to have touched a four-year high this year, despite US and European sanctions.
• The pickup follows a sharp dip in early October, when Bloomberg tanker-tracking data showed Russian crude flows to India averaging about 310,000 barrels per day over the four weeks to October 4, the lowest since March 2022. Purchases have been driven mainly by discounts to Brent rather than by policy, so the direction depends on how wide those discounts stay while Brent trades in the mid $90s.

5. El Niño on course to be the strongest on record: effects expected to run well into 2027

• Reports say 2026 may bring the strongest El Niño on record, with the source putting ocean warming at about 3.7°C. Carbon Brief reported a record daily Niño 3.4 anomaly of 3.11°C on September 21 and model runs that peak near 4.1°C in November or December, and an anomaly above 2°C is normally classed as very strong.
• Possible effects include heat waves, a jump in power demand and crop damage. Carbon Brief notes that most of the global temperature impact will be felt in 2027 rather than 2026, which suggests that food price and monsoon risks may extend beyond this year. India's 2026 southwest monsoon has already ended 12.6% below the long period average, the weakest since 2015, according to the IMD.

Indian Macro

6. India's retail inflation hits 6.09% in October: first breach of the 6% band in two years

• CPI inflation rose to 6.09% in October from 5.54% in September, crossing the RBI's 6% upper tolerance limit for the first time in two years. Food inflation climbed to 8.94% from 7.74%, and core inflation was about 4.5% according to an analysis of MoSPI data. Rural inflation was 6.63% against 5.41% in urban areas, a gap of 122 basis points, and inflation has risen every month since January 2026, when the first print on the new series was 2.74%.
• Why it matters to you: Food is the biggest driver, so household budgets are feeling it first, especially in rural areas where inflation is higher. The RBI's own projection for October to December was 6.0%, so the print is in line with its warning, but it leaves little room for rate cuts and keeps floating-rate loan EMIs in focus. The source notes that gold and silver offered some relief on inflation this month.

7. December rate hike widely expected: two quarter-point moves would take repo to 6.00%

• With inflation above the RBI's band, reports say a 25 basis point hike at the early-December policy meeting is near-certain, with another likely in February 2027. Two quarter-point moves would take the repo rate from 5.50% to 6.00%, and one reported forecast from SBI's research team is for a single quarter-point hike in December.
• The source says most economists expect headline inflation to stay above 6% until March 2027 because of Rabi output pressure. The RBI's October projections were lower, at 5.7% for January to March 2027 and 5.6% for April to June 2027, so the path depends on food prices and on how the El Niño plays out (story 5).

8. India's October trade deficit widens to $39.88 billion, a one-year high, despite record exports

• India's goods trade deficit widened to $39.88 billion in October from $30.21 billion in September, a one-year high and wider than the $32.25 billion in a Reuters poll, though below the $42.58 billion record of October 2025. Exports hit a record $49.47 billion, up about 45% on a year earlier, while imports rose to $89.35 billion, up about 16.5%.
• Gold imports nearly tripled to $5.51 billion from $1.8 billion in September ahead of Diwali, and higher energy costs from the Middle East conflict added to the import bill. The source credits petroleum, electronics and engineering goods for export strength and notes a sharp revival in Middle East trade. Estimated services exports of $40.51 billion against imports of $20.72 billion leave a surplus of $19.79 billion, which offsets part of the goods gap.

9. Car dispatches hit a record in October, but festive timing split wholesale and retail numbers

• Domestic car dispatches reached a record of about 5.16 lakh units in October, up 12.4% year on year, with two-wheelers up 16%, according to the source. An OEM-wise tally from AutoPunditz puts passenger vehicle wholesale at 5,24,226 units, up 12.3% and the first time above 5 lakh in a month. The source ties the turnaround in auto demand to last year's GST cuts, a trend that has continued into this year.
• Wholesale and retail diverged because Diwali fell on November 8 this year against October 20 last year. FADA reported that retail registrations fell 23.8% year on year in October to 31.72 lakh units, with passenger vehicle retail down 14.23% to 5.08 lakh units. Dispatches running ahead of registrations suggest dealers were stocking for a later festival, so November retail data will show whether the delayed demand arrives.

Markets and Assets

10. Rupee ends at about ₹94.24, weaker for the week: RBI's $239 billion forward short caps gains

• The rupee closed at about ₹94.24 per dollar on Friday, around 12 paise weaker than Thursday's ₹94.12 and about 35 paise lower for the week from ₹93.89. On Wednesday it closed at ₹93.69, its strongest level since April. The source cites the bounce in crude prices and high freight costs as pressure points.
• The RBI's net short forward dollar position was reported at $239 billion as of September, up from $200.06 billion at the end of August. About $40 billion matures within a year, $56 billion in one to three years and $143 billion in three to five years, mostly linked to FCNR(B) deposits. IDFC First Bank Economic Research notes that the RBI will absorb any improvement in capital inflows, which limits how far USD/INR can fall, and expects the rupee at 92 to 94 by December.

11. Spot gold slips to about $3,884 and silver to about $48.75: gold has its worst week in four months

• Spot gold ended near $3,884 an ounce on Friday after touching a 13-month low earlier in the week, and it is roughly 5% lower over five sessions, its worst week in four months. Spot silver was near $48.75. Since October 9, gold is about 7.4% lower and silver about 19.7% lower, and on the MCX, December gold was around ₹1,41,580 per 10 grams and silver around ₹1,87,910 per kilogram on Wednesday, against ₹1,51,300 and ₹2,24,859 on October 9.
• Spot gold fell this week after the higher US inflation reading made a December Fed hike close to a base case, and rising Treasury yields raise the opportunity cost of holding gold. The source says the gold-silver ratio is favouring silver, but flags 35% to 40% thrifting of silver in electronics as a likely headwind for industrial demand.

12. FPIs buy about ₹84,291 crore of Indian equities in November: a sharp turn from October selling

• FPIs have put about ₹84,291 crore ($8.94 billion) into Indian equities in November so far, and $9.81 billion including debt, according to the source. Depository data showed ₹53,739 crore in the first six sessions to November 9, and a separate report put the month's equity inflow near $6 billion by Wednesday, the largest monthly deployment since September 2024. The source says FPIs were net buyers on every session this month, with inflows above $1 billion on three of nine sessions.
• Why it matters to you: Foreign flows tend to move large-cap index levels and the rupee together, so a month of steady buying has lifted both, and a reversal would work the other way. The shift follows about ₹44,166 crore of FPI selling in the first six sessions of October, and Geojit's V K Vijayakumar links it to selling in AI-focused markets in the US, South Korea, Taiwan and Japan, along with strong earnings and reasonable large-cap valuations.

13. PSBs could draw about ₹30,000 crore of foreign flows if the FDI cap rises from 20% to 49%

• Industry estimates cited in reports suggest public sector banks could attract up to ₹30,000 crore of passive foreign flows if the FDI limit is raised from 20% to 49%, because a higher foreign limit could lift their weights in MSCI indices. The source says SBI alone could draw about ₹20,000 crore of that.
• Reports describe the change as under consideration, with the RBI earlier reported to back it. Nifty PSU Bank rose 3.73% on Monday and 2.94% on Wednesday before slipping 0.39% on Friday, so part of the expected benefit may already be reflected in prices.

14. Mutual funds record ₹1.74 lakh crore of net inflows in October, reversing September's outflows

• AMFI data show net inflows of ₹1,73,840 crore across mutual fund categories in October, against net outflows of ₹1.33 lakh crore in September. Debt funds took in ₹1.13 lakh crore after ₹1.83 lakh crore of withdrawals in September, led by liquid funds at ₹70,534 crore.
• Equity fund inflows fell nearly 14% to ₹32,994 crore, with large and mid-cap funds the leading category at ₹8,484 crore, almost double September's level. ETFs drew ₹20,304 crore and index funds ₹3,091 crore, about ₹23,400 crore of passive inflows in total, while 28 NFOs raised ₹3,829 crore, up 41.4%. Liquid and overnight funds often swing with corporate treasury cash, so the equity line says more about investor appetite than the headline total.

15. SIP flows ease to ₹32,160 crore as the stoppage ratio rises above 100%

• SIP contributions slipped about 1% to ₹32,160 crore in October from ₹32,490 crore in September, but remain 8.9% above the ₹29,529 crore of October 2025. The source puts the SIP stoppage ratio at 117%, meaning more SIPs were stopped or matured than were registered in the month, and links the contraction in SIP folios to market uncertainty and hesitation to renew.
• Why it matters to you: The source says contributing SIP folios held steady at 92.54% of all SIP folios, which suggests most registered SIPs are still running. A stoppage ratio above 100% shows the SIP base shrinking at the margin, which is worth tracking if volatility continues.

Corporate and Regulatory

16. Kia India reported to plan a $2 billion second plant in Andhra Pradesh

• Kia India is reported to plan about $2 billion for a second plant in Andhra Pradesh with annual capacity of 200,000 units, which would take total capacity to about 600,000 units across both plants, according to the source. The plant is expected to support new models across petrol, diesel and electric powertrains and create about 12,000 jobs.
• In August, Kia India said it was weighing a capacity increase at its Anantapur plant, which has an annual production limit of about 430,000 vehicles, and plans 10 new models, eight of them electrified. The final scale and timing will depend on formal announcements.

17. IIFL Finance to raise ₹6,414 crore, with Blackstone investing ₹5,000 crore

• IIFL Finance's board approved a ₹6,414 crore fundraise through fresh equity on November 10. Blackstone will invest ₹5,000 crore for a stake of about 16% through compulsorily convertible preference shares, convertible at ₹602 per share within 18 months, while promoters Nirmal Jain and R Venkataraman will infuse ₹1,264 crore through preferential warrants and Anchorage Capital ₹150 crore.
• The infusion is expected to lift IIFL Finance's capital adequacy ratio from about 17% to nearly 30% on a pro forma basis, against a market capitalisation of about ₹26,746 crore. Fairfax held 15.2% of IIFL Finance as of June 30 and was reported in September to be weighing a full exit, linked to regulatory requirements that could follow its bid for about 60.7% of IDBI Bank, a stake the source values at ₹52,878 crore.

18. Tata Sons rejects Noel Tata's demand for recordings of the September 17 board meeting

• Tata Sons has declined Noel Tata's request for the unedited recordings of the September 17 board meeting at which N Chandrasekaran was reappointed for a five-year term, according to the source. The Tata Sons company secretary reportedly said the Articles of Association and the law do not require the company to share unedited proceedings of the meeting.
• The request sits within a wider disagreement between Tata Trusts and Tata Sons over governance and the listing of Tata Sons. Four of the five voting directors backed the reappointment, Tata Sons has said it is valid under company law and its Articles, and Noel Tata has called the resolution void and flagged procedural lapses.

19. Eicher Motors Q2: profit up 15% to ₹1,573 crore, sales up 20% to ₹7,422 crore, below estimates

• Eicher Motors reported Q2 FY27 net profit of ₹1,573 crore, up 15%, and sales of ₹7,422 crore, up 20%, according to the source. Profit fell short of street estimates because a sharp rise in raw material costs offset gains from strong motorcycle sales, and the source says demand was robust in both domestic and international markets.
• Input costs had already cut gross margin by 4% to 4.5% in Q1 FY27, and aluminium averaged about $3,251 per tonne on the LME in August, up 25% from a year earlier. Royal Enfield's October volumes were 133,442 units, up 7%, with 350cc-plus motorcycles up 18% to 16,626 units.

20. Mahanadi Coalfields IPO of about ₹9,500 crore reported to open next week

• Coal India's subsidiary Mahanadi Coalfields is reported to launch its IPO as soon as next week, sized at about ₹9,500 crore according to the source. Bloomberg reported on November 3 that the issue could raise up to $1 billion, with a launch in the second half of November or early December. The price band and dates had not been announced at the time of writing.
• The issue is entirely an offer for sale of up to 66.18 crore shares, about 10% of the company, by Coal India, so Mahanadi itself receives no proceeds. Up to 50% of the net offer is reserved for QIBs, at least 15% for non-institutional investors and at least 35% for retail investors. The source notes that Coal India has been regularly monetising its stakes in subsidiaries.

21. Adani's Kutch Copper signs MoU with Codelco for Chile's Kaburkaala copper project

• Kutch Copper Limited, a subsidiary of Adani Enterprises, signed an MoU with Chile's Codelco on November 11 at LME Week in London. It sets out key commercial terms for a strategic exploration alliance at the Kaburkaala copper project in Chile's Antofagasta region, with Adani contributing capital and project execution capability and Codelco contributing geological knowledge. No financial terms were disclosed.
• A 2025 MoU led to joint technical due diligence of Codelco's copper portfolio, after which Adani selected Kaburkaala. The source links the deal to securing copper supply as demand and LME prices rise and as US stockpiling of copper tightens availability.

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Disclaimer: This article is for general information and educational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any securities or financial instruments. Market data, macroeconomic figures, and corporate announcements referenced in this article are based on publicly available sources and are subject to revision. Past market behaviour is not indicative of future outcomes. Please consult a SEBI-registered investment adviser or qualified financial professional before making any investment decision. Investments are subject to market risks.