Sector rotation

NSE relative rotation graph (RRG)

Every NSE sector plotted against the Nifty 50: how strong it is (RS-Ratio) and whether that strength is building or fading (RS-Momentum). Drop into a sector to see which industries inside it are actually carrying the move.

ViewSectorsIndustries·Communication ServicesConsumer DiscretionaryConsumer StaplesEnergyFinancialsHealth CareIndustrialsInformation TechnologyMaterialsReal EstateUtilities
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Showing the graph as it stood on 2026-10-22 — the positions traders were actually looking at then, not hindsight. Back to today →

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Nothing selected — the graph is empty. Tick an industry above, or show all industries.

LEADINGWEAKENINGLAGGINGIMPROVING95.797.9100102.1104.395.998100102104.1RS-Ratio → relative strength vs Nifty 50 (100 = benchmark)RS-Momentum → rate of changePublic Banks: Leading (RS-Ratio 102.12, RS-Momentum 101.22). 25% of its stocks in Stage 2, breadth strongPublic BanksPayment Infrastructure: Improving (RS-Ratio 98.45, RS-Momentum 101.31). 17% of its stocks in Stage 2, breadth weakPayment InfrastructureSpecialized Finance: Improving (RS-Ratio 98.22, RS-Momentum 100.35). 21% of its stocks in Stage 2, breadth thinningSpecialized FinanceConsumer Finance: Improving (RS-Ratio 97.63, RS-Momentum 100.15). 9% of its stocks in Stage 2, breadth weakConsumer FinancePrivate Banks: Weakening (RS-Ratio 100.72, RS-Momentum 98.04). 30% of its stocks in Stage 2, breadth thinningPrivate BanksStock Exchanges & Ratings: Weakening (RS-Ratio 100.34, RS-Momentum 98.16). 43% of its stocks in Stage 2, breadth thinningStock Exchanges & RatingsInvestment Banking & Brokerage: Lagging (RS-Ratio 99.32, RS-Momentum 97.47). 21% of its stocks in Stage 2, breadth strongInvestment Banking & BrokerageDiversified Financials: Lagging (RS-Ratio 97.99, RS-Momentum 97.45). 29% of its stocks in Stage 2, breadth thinningDiversified FinancialsHome Financing: Lagging (RS-Ratio 97.75, RS-Momentum 99.35). 9% of its stocks in Stage 2, breadth weakHome FinancingInsurance: Lagging (RS-Ratio 97.35, RS-Momentum 98.48). 7% of its stocks in Stage 2, breadth weakInsuranceAsset Management: Lagging (RS-Ratio 97.22, RS-Momentum 99.37). 20% of its stocks in Stage 2, breadth weakAsset Management
Each dot is an industry; the trail behind it is the last 8 weeks, one point per week. Rotation normally runs clockwise: Improving → Leading → Weakening → Lagging. A bigger dot means more of the industry's stocks are in Stage 2. Use the chips above to isolate industries; the axes stay fixed so positions remain comparable.

Showing the one Leading industry: ahead of the Nifty and still gaining. Show all

Showing the 3 Improving industries: behind, but turning up. Show all

Showing the 2 Weakening industries: still ahead, losing momentum. Show all

Showing the 5 Lagging industries: behind and still slipping. Show all

NSE industries by RRG quadrant, with where each one sat 1, 2 and 3 months earlier, RS-Ratio and RS-Momentum
IndustryNowBreadth1M2M3MRS-RatioRS-Mom8w returnStage 2 stocks
Public BanksLeadingStrong25%GLI102.12101.22-5.3%Screen →
Payment InfrastructureImprovingWeak17%price aheadWGW98.45101.31-12.4%Screen →
Specialized FinanceImprovingThinning21%price aheadGLL98.22100.35-7.9%Screen →
Consumer FinanceImprovingWeak9%price aheadGLW97.63100.15-13.8%Screen →
Private BanksWeakeningThinning30%WLL100.7298.04-3.3%Screen →
Stock Exchanges & RatingsWeakeningThinning43%WWI100.3498.16-3.6%Screen →
Investment Banking & BrokerageLaggingStrong21%breadth aheadWIW99.3297.47-4.8%Screen →
Diversified FinancialsLaggingThinning29%WLL97.9997.45-8.4%Screen →
Home FinancingLaggingWeak9%WIW97.7599.35-9.9%Screen →
InsuranceLaggingWeak7%WIG97.3598.48-8.7%Screen →
Asset ManagementLaggingWeak20%LLG97.2299.37-10.7%Screen →

L Leading · I Improving · W Weakening · G Lagging. Read the three history columns left to right to see the path: a run of I → L is a rotation being confirmed, L → W is one running out of road.

Breadth is how much of the industry is in Stage 2 (the percentage, and the size of its dot on the graph) compared with the other industries here: Strong a large share and growing, Building a small share but growing, Thinning a large share but shrinking, Weak a small share and shrinking.

Benchmark: Nifty 50. Computed from 270 trading sessions, latest 2026-10-29. Updated after each end-of-day run. Thin industries without continuous history are left out rather than drawn from gaps.

How to read this

The horizontal axis is relative strength against the Nifty 50 — right of centre means the group is beating the index. The vertical axis is the momentum of that strength — above centre means the lead is still building. Both are measured against the group's own recent range rather than a fixed scale, so a position just past centre is a real move, not a rounding error.

Read the quadrant and the direction of travel, not the absolute distance. Groups normally rotate clockwise (Improving, Leading, Weakening, Lagging), and a tail curling back toward the centre is the earliest sign a run is ending. The most useful reading is a disagreement: something sitting in Leading with a tail already bending down is late, whatever the headline says.

Then check the breadth. The graph measures price against the Nifty; breadth counts how many of the group's own stocks are in a Stage 2 uptrend. When the two point the same way the move is broad. A group whose momentum is rising while fewer of its stocks hold Stage 2 is marked price ahead: a handful of names is carrying it. One where more stocks are entering Stage 2 while momentum still falls is marked breadth ahead, and that is often how a turn starts.