Sector Rotation Map: NSE Sectors vs Nifty 500

Sector rotation readings vs the Nifty 50, Weekly, as of 23 Oct 2026
Sector index	Quadrant	RS-Ratio	RS-Momentum	Change vs benchmark over 8 weeks	In quadrant
IT	Leading	104.02	103.11	+10.2%	Leading for 1 week, after Weakening
Media	Leading	102.85	101.28	+5.6%	Leading for 3 weeks, after Weakening
Private Bank	Leading	101.63	100.51	+1.3%	Leading for 7 weeks, after Lagging
Financial Services	Leading	100.18	100.17	−1.0%	Leading for 4 weeks, after Improving
Pharma	Weakening	100.65	98.01	+1.2%	Weakening for 2 weeks, after Leading
Bank	Weakening	100.52	99.82	+0.1%	Weakening for 1 week, after Leading
PSU Bank	Lagging	99.96	99.41	+0.2%	Lagging for 2 weeks, after Weakening
Capital Markets	Lagging	99.75	98.09	−3.8%	Lagging for 1 week, after Weakening
Healthcare	Lagging	99.51	97.67	−0.8%	Lagging for 1 week, after Weakening
Oil & Gas	Lagging	99.41	98.83	−1.9%	Lagging for 2 weeks, after Leading
Infrastructure	Lagging	99.05	99.13	−1.7%	Lagging for 2 weeks, after Improving
PSE	Lagging	98.84	98.70	−3.2%	Lagging for 2 weeks, after Leading
CPSE	Lagging	98.81	98.74	−3.2%	Lagging for 1 week, after Improving
Energy	Lagging	98.74	98.57	−4.1%	Lagging for 1 week, after Improving
Consumption	Lagging	98.62	98.78	−2.2%	Lagging for 6 weeks, after Weakening
Defence	Lagging	98.49	96.95	−6.8%	Lagging for 2 weeks, after Weakening
Cement	Lagging	98.24	99.55	−3.0%	Lagging for 11 weeks, after Leading
Commodities	Lagging	98.22	97.92	−5.2%	Lagging for 3 weeks, after Leading
Chemicals	Lagging	98.00	97.41	−7.5%	Lagging for 3 weeks, after Leading
Realty	Lagging	97.88	98.01	−8.7%	Lagging for 6 weeks, after Weakening
Metal	Lagging	97.50	94.86	−8.9%	Lagging for 2 weeks, after Weakening
Auto	Lagging	97.09	96.87	−5.1%	Lagging for 5 weeks, after Weakening
Consumer Durables	Lagging	96.83	96.07	−9.2%	Lagging for 4 weeks, after Weakening
MNC	Lagging	96.67	96.91	−8.6%	Lagging for 7 weeks, after Leading
FMCG	Improving	99.15	101.33	−1.7%	Improving for 5 weeks, after Lagging

Sector	RS	Mom.
Leading · 4
	104.02	103.11
	102.85	101.28
	101.63	100.51
	100.18	100.17
Weakening · 2
	100.65	98.01
	100.52	99.82
Lagging · 18
	99.96	99.41
	99.75	98.09
	99.51	97.67
	99.41	98.83
	99.05	99.13
	98.84	98.70
	98.81	98.74
	98.74	98.57
	98.62	98.78
	98.49	96.95
	98.24	99.55
	98.22	97.92
	98.00	97.41
	97.88	98.01
	97.50	94.86
	97.09	96.87
	96.83	96.07
	96.67	96.91
Improving · 1
	99.15	101.33
Not enough history yet · Capital Goods, Construction, Hospitals, Housing Finance, Insurance, NBFC, Power, Retail, Telecom

Sector rotation: questions and method

Which sectors are leading the Nifty 50 right now?

As of 23 Oct 2026, 4 of 25 NSE sector indices are leading the Nifty 50: IT, Media, Private Bank and 1 more. 18 are lagging, including PSU Bank, Capital Markets, Healthcare and 15 more. FMCG is improving. Pharma and Bank are weakening. IT moved from Weakening to Leading. Bank moved from Leading to Weakening. Capital Markets moved from Weakening to Lagging. Healthcare moved from Weakening to Lagging. CPSE moved from Improving to Lagging. Energy moved from Improving to Lagging.

How are RS-Ratio and RS-Momentum calculated?

Relative strength (RS) = 100 × sector close ÷ benchmark close. RS-Ratio = 100 × the 5-week weighted average of RS ÷ its 15-week weighted average (linearly weighted, newest heaviest). RS-Momentum = 100 × today's RS-Ratio ÷ the RS-Ratio 5 weeks earlier.

What is a sector rotation map?

A sector rotation map places each sector by two numbers. Relative strength (RS-Ratio, across) compares the sector index with a broad benchmark and normalises it to 100: above 100 means the sector has been outperforming its own recent trend against the benchmark, below 100 means underperforming. Momentum (RS-Momentum, up) measures whether that relative strength is rising or falling, also centred on 100.

What do Leading, Weakening, Lagging and Improving mean?

Leading: Outperforming the benchmark, and the outperformance is gaining pace. Weakening: Still outperforming, but losing pace. Lagging: Underperforming, and still fading. Improving: Still underperforming, but picking up pace.

Why do sectors move clockwise around the map?

Together they split the map into four quadrants. Leading (top right) is outperforming and gaining pace. Weakening (bottom right) is still outperforming but slowing. Lagging (bottom left) is underperforming and still fading. Improving (top left) is underperforming but picking up pace. Over time sectors tend to travel clockwise through them; select a sector, or show all tails, to see the path it took to get there.

Can a sector be Leading while its index is falling?

The map is relative, not absolute: a sector can be Leading while its index falls, if the benchmark falls further. It also lags by design, because both numbers are smoothed averages.

Should I use the weekly or the daily map?

The weekly map smooths out day-to-day noise and suits trends that play out over months; it uses completed weeks only, so it changes when a trading week closes. The daily map reacts faster and changes after every session. This view uses 5/15/5 weeks.

Why are some sector indices not on the map?

Capital Goods, Construction, Hospitals, Housing Finance, Insurance, NBFC, Power, Retail, Telecom were launched too recently to fill the averages for this view, so they are left off rather than plotted on a partial window.

Is this investment advice?

Relative strength data for research and information only. Not investment advice and not a forecast: a quadrant describes how a sector has moved against the benchmark, not what it will do next.