What drove the Nifty to record highs in November 2022? Will the rally sustain?

Indian stock market this month: Nifty 50

• The Indian stock market had another positive month, with the Nifty 50 registering gains of 3.4% during November and touching its lifetime highs. 
• November has been kind of a mixed bag with Nifty 50 posting losses in 8 sessions over the last 17 years.     

Indian stock market this month: Which sectors gained and which lost?

• Nifty PSU Bank headlined the gains with an up move of 4.7% during the month. Notably, Nifty Services recorded gains of up to 3% in the month. 
• Barring Nifty Pharma, all the indices ended with gains in the month of November. 
              

Indian stock market November 2022: Nifty movement

• The Indian stock market had a good start in the first week as quarterly earnings reports of most companies were above the estimates.
• The first week was marked by robust GST collections. The same stood at Rs 1.52 lakh crore in October, the second-highest collection since GST implementation.  
• The upward trend continued in the second week with the Nifty 50 closing 1.65% higher. Moreover, in this week, the Indian rupee showed strength by clocking gains of over 100 paise.
• In the third week, the market’s winning spree came to a halt as the Nifty ended lower. 
• The markets ended lower on concerns about future rate hikes, Chinese covid restrictions, and other adverse global cues.
• The fourth week brought cheer to the markets as Nifty closed near record highs on Friday. PSU Banks continued to show their strength as more than five of them touched their 52-week highs this week.  
• The markets started the last week of the month with strength as it reclaimed its all-time high.       

Indian stock market weekly: Catch the weekly recap for the month of November!

Nifty extends gains to third week amid strong macro data, earnings

Nifty extends gains to 4th week, hits fresh 52-week high: What’s behind the rally?

Nifty snaps 4-week gaining streak; global cues, macro data in focus

Nifty Closes Near Record High Amid Strong Rally in PSU Bank, Technology Stocks

Indian stock market this month: Major stock movement highlights 

• PSU Banks of the ilk of SBI, Bank of Baroda, Punjab National Bank among others had a strong showing in the month amid strong Q2 results. Check out PSU Banks’ Highlights
• Earlier in the month, the Fed hiked rates again by 0.75% though it did give the impression that the pace of rate hike may show signs of slowing down. Check out Fed Meeting Highlights
• November saw many companies coming up with their IPOs, notable among them being Bikaji Foods International Limited, Five Star Business Finance, Uniparts India Limited, and Kaynes Technologies. Check out the details of the IPOs
• Paytm shares were down 24% in the month as its net loss widened in the second quarter. Moreover, analysts remain concerned about the threat it may face from Jio’s financial services arm. Check out Paytm’s Earnings
• Zomato shares were up in the month as the company reported narrowing of losses in the second quarter. Check out Zomato’s Q2 results

How did the IPOs fare this month?

Indian stock market next month: Where is it headed? 

Here are some major factors that will drive the Indian markets in December 

• Chinese Unrest: The growing unrest in the world’s second largest economy has resulted in the development of a fresh set of uncertainties in the global economy. Investors will be keeping a keen eye on its developments.
• Central Bank actions: Investors will be keenly following the commentary that emanates from global banks around the world with a keen focus on rate hikes.
• Oil Prices: Market participants will also be having a critical look at the oil prices as developments in China could hurt demand and in turn result in lower prices. This could benefit India.
• Analysts remain optimistic about the market’s situation going forward amid robust earnings and solid credit growth. However, a global slowdown can become a dampener for the overall sentiments of the markets.

Holiday in Indian Stock market in December 2022

• There are no festival holidays in the Indian stock market in December

This is not investment advice. Investments in the securities market are subject to market risk, read all the related documents carefully before investing. Past performance is not indicative of future returns.