- Nifty 50 closed positive in November six of the past 10 years with 2% average returns
- Nifty Midcap 100 and Smallcap 100 outperformed, closing higher in 8 and 7 years respectively
- Banking and IT indices showed positive returns in eight of 10 years with 3.8% and 2.7% averages
The Nifty 50 has closed in positive territory in the month of November in six of the past 10 years, delivering an average return of around 2% over the period, according to the historical data. In comparison, mid-cap and small-cap stocks have recorded positive returns more frequently, with the Nifty Midcap 100 closing higher in eight of the 10 years and the Nifty Smallcap 100 in seven.
The Nifty Midcap 100 delivered an average return of 2.7% in November, while the Nifty Smallcap 100 averaged 2% over the 10-year period.
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Within the Nifty 50, positive returns of more than 3% were recorded in November in 2018, 2020, 2022 and 2023. The data suggests that the broader market and several sectoral indices have offered different return patterns over the period, with banking and information technology among the sectors that most frequently ended the period in positive territory.
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Bank And IT Indices Closed Higher In Eight Of 10 Years
Among sectoral indices, the banking and IT indices recorded positive returns in eight of the past 10 years in November, the highest frequency among the sectors listed. The banking index delivered average returns of 3.8%, while the IT index averaged 2.7%. Real estate followed, closing higher in seven of the 10 years and delivering average returns of 3%.
The metal index recorded average returns of 3.3%, although it ended in positive territory in only five of the 10 years. This points to stronger average gains despite a less consistent record of positive returns. FMCG and pharma delivered comparatively modest average returns of 0.6% and 0.4%, respectively. Both indices closed higher in five and four years, respectively. Auto and energy indices each ended in positive territory in four of the 10 years in the month under review, with average returns of 1.1% apiece.
The historical data indicates that the frequency of positive returns and the average return are not necessarily aligned. Metal stocks, for instance, posted higher average returns than banking stocks despite closing higher in fewer years.
AB Capital, Adani Green Among Stocks With Strong Positive Returns
Among individual stocks, AB Capital and Adani Green recorded the highest average returns in the positive-return list, at 13.4% and 13%, respectively. Both stocks closed in positive territory in the month in at least seven of the 10 years, with average gains exceeding 8%. Vodafone Idea followed with average returns of 12.1%, while Varun Beverages delivered 10.9%.
Uno Minda and KEI Industries each recorded average returns of 9.6%. Indus Towers posted average returns of 8.6%, while Adani Energy and Union Bank each delivered 8.3%. Hindustan Aeronautics completed the list, with average returns of 8%.
These stocks met the criteria of closing higher in seven or more of the 10 years in November and delivering average positive returns exceeding 8%, according to the data provided.
Coal India, Suzlon Among Stocks With Persistent Negative Returns
On the other side, Coal India recorded the weakest average return among the stocks listed, at 2.5% decline. Suzlon followed with negative returns of 2.2%, while Container Corporation of India posted a loss of 1.6%. Cipla and Colgate recorded average declines of 1.5% and 1.4%, respectively.
These stocks closed in negative territory in at least seven of the 10 years in November and recorded average negative returns exceeding 1%.
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