The Nifty 50 index’s performance during November over the past decade has been evenly divided — it closed higher in five of the last ten Novembers and lower in the remaining five — yet the average return over that period was a modest positive 1.6%.
Digging deeper into institutional activity, foreign institutional investors (FIIs) emerged as net buyers in about 60% of the past ten Novembers, while domestic institutional investors (DIIs) were even stronger participants, net buying in about 70% of those Novembers.In 2020, FIIs’ inflows peaked at approximately Rs 60,358 crore, while in 2024, FIIs registered an outflow of around Rs 21,612 crore — the largest withdrawal since 2016. On the DII side, 2024 saw inflows of about Rs 44,484 crore, despite weaker FII participation that year.
Looking ahead to November 2025, analysts expect a favourable tone. The Nifty has already advanced strongly in October, adding over 1,260 points (roughly a 5% gain) up to 30 October. The alignment of major moving averages and positive momentum indicators are also cited as supportive of further upside. However, a note of caution remains: the rollover rate for the October series came in at 75.8%, below its three- and six-month averages of ~80.6% and ~79.9% respectively — suggesting some moderation in near-term sentiment.
In conclusion, while historical data shows November has been a mixed month for the market, the combination of strong institutional flow patterns and positive technicals for November 2025 suggests a potentially better outcome than the flat average might indicate.
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