November 2025 Market Review

World Happenings:
November 2025 was shaped by shifting global economic expectations and central bank cues.

The US Federal Reserve maintained a patient stance on interest rates, strengthening the narrative around potential rate cuts in early 2026. This optimism helped buoy global equities and supported risk‑appetite among investors.

European markets also showed resilience, with macro indicators suggesting stabilizing inflation and improving industrial activity. Asian markets, particularly China, responded positively to renewed stimulus measures and increasing export activity, lending support to broader emerging market sentiment.

In Commodity markets, gold and silver continued to attract investor interest, both as safe‑haven assets and for their industrial demand drivers. Rallying prices reflected enduring demand even amid periods of volatility.

Market Roundup:
Indian equities gained steadily through November, supported by broad‑based mutual fund inflows and encouraging corporate earnings.

- Sensex & Nifty 50: Both indices traded strong through November, with the Nifty index touching historic intraday highs during the month.
- Domestic Liquidity: Captured momentum from continued SIP contributions and renewed investor confidence.
- Foreign Investors: Activity remained mixed as global macro cues drove selective buying and selling across segments.

The overall sentiment remained constructive as domestic macro indicators, such as inflation moderation and resilient consumption trends; balanced external market pressures.

Mutual Fund Industry Performance:
The mutual fund industry continued its uptrend in November 2025, driven by both systematic and discretionary flows:

- Equity Mutual Fund Inflows: Approximately ₹29,900 crore, up ~21% month‑on‑month, indicating renewed investor participation.
- SIP Contributions: Stayed near record levels with around ₹29,445 crore in monthly flows, highlighting continued trust in disciplined investing.
- Total Industry AUM: Crossed the ₹80 lakh crore mark, reflecting stronger overall industry health.

Category insights revealed broad‑based inflows across large, mid, and small cap equity funds, signifying diversified investor interest.

Sectoral Insights:
- Banking and Financials: Continued strong performance backed by credit growth and solid quarterly earnings.
- Information Technology: Showed resilience, aided by currency tailwinds and improving global tech demand.
- Automobiles & Consumer Goods: Maintained stability on healthy festive season trends, though growth calibrated from prior months.
- Commodities (Gold & Silver):

• Gold:
  • In India, gold hovered around ~₹1,25,000 per 10 grams during the month and peaked higher in mid-November.
  • Investors continued to deploy capital into gold as a defensive asset amid global macro uncertainty.
• Silver:
  • Domestic silver prices remained historically elevated, touching levels in excess of ₹1.5 lakh per kg in late November.
  • Strong industrial demand and safe-haven flows helped sustain silver’s momentum.

Both metals’ steady demand underscored their importance as portfolio diversifiers and inflation hedges.

Conclusion:
November 2025 marked a steady and constructive month for Indian markets. With equity benchmarks resilient, mutual fund inflows strengthening, and precious metals sustaining investor interest, the investment landscape reflected cautious optimism. While global cues and mixed foreign flows continued to influence sentiment, domestic retail and institutional participation played a central role in market momentum.

As the year draws to a close, maintaining a diversified strategy across equity, hybrid, and precious metal exposures, along with disciplined SIP investing, remains a prudent approach for long‑term wealth building.

Sources:
Reuters, AMFI/AMFI‑reported data (Moneycontrol, LiveMint), Indian Bullion and Jewellers Association (IBJA), NSE data

Shruti Jain

Registered Mutual Fund Distributor | Product Manager | FIKAA