- The BSE Sensex closed at 85,707 up by 2.11%, and the Nifty 50 closed at 26,203 up by 1.87% in November 2025, supported by rate-cut expectations, easing inflation, India–US trade deal optimism, and an improving earnings outlook.
- Market momentum moderated toward the end of the month, as investors turned cautious ahead of the release of Q2 FY26 GDP and IIP data, resulting in range-bound trading and consolidation at record index levels.
- On November 28, Sector-wise, Nifty Auto led the gains with a 0.62% rise, while Nifty Pharma and Nifty Media also advanced by over 0.50%. On the flip side, Nifty Oil & Gas came under pressure, falling 0.69%, followed by Nifty Realty and Nifty IT, which declined 0.19% and 0.11%, respectively.
- Inflation remained subdued, with CPI at 0.25% and WPI at –1%, supporting corporate profitability and investor sentiment by easing cost pressures and sustaining market stability.
- Global macro conditions were broadly supportive, with the US Federal Reserve cutting policy rates by 25 bps to 3.75–4.00%, Brent crude oil prices moderating to around $64 per barrel, as expectations of a Russia-Ukraine peace agreement gained momentum.
- Foreign portfolio investor (FPIs) remained volatile, with net equity outflows of approximately Rs. 3,765 crore during November, reflecting elevated global risk aversion, increased volatility in global technology stocks, and a measured shift in allocations towards primary markets over secondary markets.
- The advance-decline ratio on the BSE stood at 2,019 advances against 2,128 declines, with 165 stocks remaining unchanged.
- The Nifty’s forward P/E stood at 20x FY27E earnings, near its long-term average, supported by an expected 12–13% earnings CAGR over FY25–27 supporting a constructive medium to long-term investment outlook.
Acknowledgements:
RBI Bulletin (www.bulletin.rbi.org.in), SEBI (www.sebi.gov.in), NSE (www.nseindia.com), BSE (www.bseindia.com)
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