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Markets Rallied Most In November With 11.4 Percent Gains


With a flush of FII money, Indian markets for the month of amid the run up to the US Presidential election and later on account of progress made in Covid 19 vaccine front, delivered massive gains of as much as 11.4%, the highest on record since April.

Markets Rallied Most In November With 11.4 Percent Gains

On a daily basis their average purchase came in to be around Rs. 3000 crore.

And among the sectoral performers, banks and metals outperformed, while broader indices too outperformed rallying 13 percent during the month.

Of FPI flow, India received the second highest fund flow only after China among EMs.

And sharp gains have now pushed the valuations to a tad expensive which will have a bearing on future returns.

"The general expectation is that with the breakthrough in vaccines, things will get back to normal, the borders will open up a lot quicker, and Asia will be the growth engine globally. With Biden getting elected there is optimism around improvement in international ties. He is expected to avoid a confrontational approach towards China and global trade. As money flows into global and Asian markets, India will get its fair share," said Andrew Holland, CEO, Avendus Capital Alternate Strategies.

Read more about: stock markets
Story first published: Saturday, November 28, 2020, 6:16 [IST]
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