Equity Markets | Performing Sectors | November 2021



  • Another very volatile month for domestic equities. Like last month, this month too started positively, however the gains were eroded in the second half. Nifty50 has now corrected 9.8% from its all-time high of 18,604.
  • All broad market indices, delivered absolute negative returns.
  • Nifty50 underperformed all indices. Smallcaps and Nifty Next 50 outperformed.
  • All 3 defensive segments have relatively outperformed. IT, Pharma are amongst the few sectors delivering positive returns this month.
  • Financials and Metals are the worst performing sectors.
  • IPOs and Power outperformed. There have been a series of big ipos this month including Nykaa, Policybazaar and Paytm.





  • Equity:
    • A very volatile month for global equities. Many markets delivered absolute negative returns. No clear trend between developed and emerging market performance.
    • US: Continues to be amongst the better performing markets. Nasdaq outperformed and continued to stay in green. Small caps underperformed significantly.
    • India: Underperformed global peers for second month in a row – Continued to witness big FII outflows in the secondary markets.
    • South Africa: Despite Omicron and International travel bans is the best performing equity market. Point to note, they haven’t imposed any movement restrictions locally so far.
    • Honk Kong: Index suffered massively given disappointing earnings and technology sector related concerns along with the new covid variant.
    • Russia: Equities take hit as oil tumbles.
  • Currencies: Broadly, both Developed and Emerging market currencies fell versus the US Dollar as FED begins tapering. CAD, NZD, AUD have fallen significantly – clear risk off signals (for second month in a row)

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