What Drove FY26 Stock Market: Rupee crash, FII exit, Nifty retreat, commodity shockwaves – How FY26 shook dalal street – Markets

Equities rallied into the new calendar year, with the Nifty 50 scaling a lifetime high of 26,373.2 on January 5, 2026. However, the rally proved short‑lived. Global risk‑off cues and sector‑specific shocks triggered a correction, though markets have seen a tentative recovery more recently.