India’s stock market splits in November: Large-caps rise while small-caps stumble
November 2025 brought mixed results across India’s stock market indices, according to a report by Nippon India Index Fund. While some sectors saw strong gains, others faced declines, highlighting uneven performance in different market segments. Large-cap stocks generally held steady, but small-cap indices struggled during the month.
The Nifty 50 led the market in November with a 1.87 per cent increase. Over longer periods, it remained the top performer, delivering returns of 7.27 per cent in three months, 5.87 per cent in six months, and 8.59 per cent over the past year. The Nifty Midcap 150 followed closely, rising by 1.59 per cent in November, with consistent gains of 7.93 per cent, 6.01 per cent, and 7.12 per cent over three months, six months, and one year respectively.
The broader Nifty 500 index grew by 0.94 per cent in November. Within this, large and midcap stocks saw modest gains of 1-2 per cent, while smallcaps dropped by 1-3 per cent. The Nifty Smallcap 250 reflected this trend, falling 3.36 per cent in November, though it recovered slightly with a 1.37 per cent rise over three months. Meanwhile, the Nifty Microcap 250 also declined by 2.83 per cent during the month.
Sector-wise, defence stocks stood out as the year’s best performers, surging 19.43 per cent. In November alone, the IT sector climbed 4.74 per cent, while the auto sector rose by 3.60 per cent.
The report from Nippon India Index Fund shows a divided market in November 2025. Large and midcap indices generally advanced, but small and microcap segments faced setbacks. Defence stocks remained the strongest performers over the year, while IT and auto sectors showed notable gains in the month.
