Nifty logs back-to-back monthly loss; FPIs net sellers in November

Benchmark Nifty 50 index shed 0.3 per cent in November, logging its first back-to-back monthly loss since February 2023. This despite the bluechip index rebounding 3.7 per cent from November lows. The recovery was fuelled by Bharatiya Janata Party’s strong showing in Maharashtra Assembly polls and MSCI rebalancing. 

  The Sensex, the Nifty Midcap 100 and the Nifty Smallcap 100 indices managed to eke out marginal gains for the month. Informally technology stocks were among the best performers, while power and energy companies were the worst performers. FPIs were net sellers for a second straight month. After pulling out nearly Rs 92,000 crore in October, they sold shares worth around Rs 9,000 crore (up to November 27) during the month. FPIs flows into the primary market supported the overall tally