Jagat Joshi
Currently ongoing West Asian geopolitical tensions, rising crude oil prices, increasing global bond yields, and a weak rupee are some of the factors affecting the market, but the available data shows that out of the last 10 Novembers, the Sensex closed higher 7 times. Not only that, but in November 2020, both the Sensex and Nifty recorded gains of 11.4%. Nifty closed higher in 6 out of these 10 years.
In November 2024, Sensex closed with a 0.5% gain, whereas Nifty closed with a 0.3% decline. Across the 10 years in November, Sensex generated an average return of 2.1%, while Nifty’s average return was 1.9%.
If we talk about the mid-cap and small-cap shares, the BSE 150 Midcap Index closed higher in 8 out of the last 10 Novembers, generating an average return of 2.4%. Similarly, the BSE 250 Smallcap Index closed higher 6 out of 10 times, generating an average return of 1.8%.
Market Fluctuations in November Over the Last 10 Years
| Year | Sensex | Nifty | BSE 150 Midcap | BSE 250 Smallcap |
| 2025 | 2.1 | 1.9 | 0.7 | -2.9 |
| 2024 | 0.5 | -0.3 | 0.1 | -0.6 |
| 2023 | 4.9 | 5.5 | 9.6 | 9.4 |
| 2022 | 3.9 | 4.1 | 2.2 | 3.1 |
| 2021 | -3.8 | -3.9 | -1.5 | 0.9 |
| 2020 | 11.4 | 11.4 | 13.7 | 13.0 |
| 2019 | 1.7 | 1.5 | 1.6 | 0.3 |
| 2018 | 5.1 | 4.7 | 3.0 | 1.6 |
| 2017 | -0.2 | -1.1 | 2.2 | 3.2 |
| 2016 | -4.6 | -4.7 | -7.4 | -7.8 |
| Average | 2.1 | 1.9 | 2.4 | 1.8 |
Experts shared their outlook for November 2026, saying that crude oil prices and the outcome of the US elections will predict the future market direction. However, factors such as a surge in Reliance profits and the positive listing of Jio Platforms favor bullish momentum. Most importantly, foreign fund trends will have a significant impact on the Indian stock market.
Also in October, the Sensex recorded a gain of 2.7%, and Nifty rose by 1.9%, while the BSE 150 Midcap surged by 4% and the BSE 250 Smallcap fell by 6.3%. Over the past two weeks of the month, foreign funds made net purchases of $2 billion in the Indian stock market, indicating a positive signal. Moreover, the IT stocks that lacked momentum so far in 2024 also saw an impressive rally this month, with the Nifty IT index closing with a surge of over 17%.
Disclaimer:
This article is based on information and data published in newspapers and media reports and is intended for informational purposes only. The views and market outlook mentioned are those of the respective sources and experts.
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