In November 2025, the Nifty Midcap 100 index had a positive return of 2.03%. The index has outperformed the broader Nifty index for the third straight month. This was driven by strong performances from sectors like Communication Services, led by Vodafone Idea Limited and Indus Towers Limited. The market breadth was negative with 42 stocks advancing and 58 declining, a deterioration from October’s 79 advancing stocks.
Chart: Monthly Return Chart
Source: NSE
How was the market breadth: 42 advances, while 58 declines:
In Nov-2025, the market breadth was negative. 42 stocks advanced while 58 stocks declined. In comparison to the last month, this is significantly worse, as October saw 79 stocks advancing.
Table: Advances and Declines history
| Month | Advances | Declines | Advance/Decline Ratio
close |
| Nov-2025 | 42 | 58 | 0.72 |
| Oct-2025 | 79 | 21 | 3.76 |
| Sep-2025 | 61 | 39 | 1.56 |
| Aug-2025 | 32 | 68 | 0.47 |
| Jul-2025 | 25 | 75 | 0.33 |
| Jun-2025 | 67 | 33 | 2.03 |
| May-2025 | 78 | 22 | 3.55 |
| Apr-2025 | 73 | 27 | 2.7 |
| Mar-2025 | 88 | 12 | 7.33 |
| Feb-2025 | 3 | 97 | 0.03 |
| Jan-2025 | 31 | 69 | 0.45 |
| Dec-2024 | 37 | 62 | 0.6 |
Source: NSE
Chart: Trends In ADR Ratio
Source: NSE
Communication Services performs the best while Utilities performs the worst:
Communication Services was the best-performing sector in the latest month with a weighted return of 6.26%. This was driven by strong performances from stocks like Vodafone Idea Limited and Indus Towers Limited. On the other hand, the worst-performing sector was Utilities, which saw a decline of 7.06%. Key contributors to this downturn included SJVN Limited and NHPC Limited.
Table: Performance Across Sectors
| Sector | Number Of Stocks | % Change (w. avg) | % Change (avg) |
| Communication Services | 4 | 6.26 | 4.09 |
| Financial Services | 22 | 6.17 | 4.61 |
| Healthcare | 7 | 2.95 | 3.24 |
| Technology | 9 | 1.37 | 0.65 |
| Industrials | 16 | 1.37 | 0.1 |
| Consumer Cyclical | 13 | -0.3 | -1.64 |
| Basic Materials | 10 | -0.56 | -0.08 |
| Consumer Defensive | 3 | -2.55 | -3.03 |
| Real Estate | 4 | -3.75 | -3.9 |
| Energy | 5 | -3.82 | -5.16 |
| Utilities | 7 | -7.06 | -6.86 |
Source: NSE
Chart: Sector Performance Heatmap Over the Past Year
Source: NSE
Top performers over a 1 Year Horizon:
Over the past year, the top performers were led by L&T Finance Ltd, Muthoot Finance Limited, and BSE Limited with returns of 122.75%, 97.7%, and 86.42% respectively. These stocks were primarily from the Financial Services sector.
Table: Top-15
| Stock | Sector | % Change (1Y) |
| L&T Finance Ltd | Financial Services | 122.75 |
| Muthoot Finance Limited | Financial Services | 97.7 |
| BSE Limited | Financial Services | 86.42 |
| Aditya Birla Capital Limited | Financial Services | 84.25 |
| AU Small Finance Bank Limited | Financial Services | 63.95 |
| Indian Bank | Financial Services | 55.41 |
| FSN E-Commerce Ventures Limited | Consumer Cyclical | 55.36 |
| Max Financial Services Limited | Financial Services | 50.1 |
| One97 Communications Limited | Technology | 46.45 |
| UPL Limited | Basic Materials | 40.48 |
| Ashok Leyland Limited | Industrials | 39.61 |
| Mahindra Mahindra Financial Services Limited | Financial Services | 39.39 |
| Bank of India Limited | Financial Services | 33.16 |
| Bharat Dynamics Limited | Industrials | 32.12 |
| Cummins India Limited | Industrials | 30.63 |
Source: NSE
Bottom performers over a 1 Year Horizon:
Over the past year, the bottom performers included Ola Electric Mobility Limited, Aditya Birla Fashion and Retail Limited, and SJVN Limited with returns of -52.85%, -31.64%, and -31.16% respectively. These stocks were primarily from the Consumer Cyclical and Utilities sectors.
Table: Bottom-15
| Stock | Sector | % Change (1Y) |
| Ola Electric Mobility Limited | Consumer Cyclical | -52.85 |
| Aditya Birla Fashion and Retail Limited | Consumer Cyclical | -31.64 |
| SJVN Limited | Utilities | -31.16 |
| Indian Renewable Energy Development Agency Limited | Financial Services | -30.35 |
| Kalyan Jewellers India Limited | Consumer Cyclical | -30.04 |
| Oracle Financial Services Software Limited | Technology | -27.36 |
| Tata Technologies Limited | Technology | -26.5 |
| The Supreme Industries Limited | Industrials | -25.81 |
| Adani Total Gas Limited | Utilities | -25.29 |
| Rail Vikas Nigam Limited | Industrials | -25.25 |
| NTPC Green Energy Ltd. | Utilities | -23.94 |
| Godrej Properties Limited | Real Estate | -23.83 |
| Colgate-Palmolive (India) Limited | Consumer Defensive | -23.32 |
| Sona BLW Precision Forgings Limited | Consumer Cyclical | -23.3 |
| Tube Investments of India Limited | Consumer Cyclical | -22.36 |
Source: NSE
Stocks Near 52 Week Highs:
As of the end of last month, nearly 39 stocks were more than 20% away from their 52-week highs. Around 40 stocks were within 10% of their 52-week highs, with Aditya Birla Capital Limited, L&T Finance Ltd, and AU Small Finance Bank Limited being the closest.
Table: Stocks within 10% of 52 Week High
| Stock | Sector | Last Close | 52 Week High | vs 52 Week High (%) |
| Aditya Birla Capital Limited | Financial Services | 358.05 | 360.15 | -0.58 |
| L&T Finance Ltd | Financial Services | 312.35 | 315.35 | -0.95 |
| AU Small Finance Bank Limited | Financial Services | 955.25 | 966.9 | -1.2 |
| Bharat Heavy Electricals Limited | Industrials | 290.85 | 295.25 | -1.49 |
| The Federal Bank Limited | Financial Services | 257.92 | 262.0 | -1.56 |
| Cummins India Limited | Industrials | 4479.3 | 4560.0 | -1.77 |
| GMR Airports Limited | Industrials | 108.35 | 110.3 | -1.77 |
| Bharat Forge Limited | Consumer Cyclical | 1433.8 | 1460.2 | -1.81 |
| FSN E-Commerce Ventures Limited | Consumer Cyclical | 267.31 | 273.22 | -2.16 |
| UPL Limited | Basic Materials | 758.65 | 776.0 | -2.24 |
| Muthoot Finance Limited | Financial Services | 3744.2 | 3833.0 | -2.32 |
| Indian Bank | Financial Services | 870.25 | 894.85 | -2.75 |
| Max Financial Services Limited | Financial Services | 1702.1 | 1751.4 | -2.81 |
| Bank of India Limited | Financial Services | 147.14 | 151.43 | -2.83 |
| IDFC First Bank Limited | Financial Services | 80.13 | 82.7 | -3.11 |
| Alkem Laboratories Limited | Healthcare | 5685.0 | 5868.0 | -3.12 |
| Ashok Leyland Limited | Industrials | 158.12 | 164.45 | -3.85 |
| Mahindra Mahindra Financial Services Limited | Financial Services | 371.85 | 387.0 | -3.91 |
| One97 Communications Limited | Technology | 1320.6 | 1375.9 | -4.02 |
| BSE Limited | Financial Services | 2902.4 | 3030.0 | -4.21 |
| Union Bank of India | Financial Services | 153.27 | 160.1 | -4.27 |
| National Aluminium Company Limited | Basic Materials | 259.98 | 271.89 | -4.38 |
| Coforge Limited | Technology | 1910.7 | 2005.36 | -4.72 |
| Bank of Maharashtra | Financial Services | 58.56 | 61.56 | -4.87 |
| Polycab India Limited | Industrials | 7470.0 | 7903.0 | -5.48 |
| Yes Bank Limited | Financial Services | 22.93 | 24.3 | -5.64 |
| Marico Limited | Consumer Defensive | 717.4 | 765.3 | -6.26 |
| Biocon Limited | Healthcare | 398.35 | 424.95 | -6.26 |
| Persistent Systems Limited | Technology | 6360.0 | 6788.9 | -6.32 |
| Indus Towers Limited | Communication Services | 401.05 | 430.0 | -6.73 |
| MRF Limited | Consumer Cyclical | 152420.0 | 163600.0 | -6.83 |
| Hindustan Petroleum Corporation Limited | Energy | 457.5 | 494.45 | -7.47 |
| Steel Authority of India Limited | Basic Materials | 134.91 | 145.9 | -7.53 |
| Apollo Tyres Limited | Consumer Cyclical | 514.0 | 557.0 | -7.72 |
| Escorts Kubota Limited | Industrials | 3817.4 | 4180.0 | -8.67 |
| The Phoenix Mills Limited | Real Estate | 1736.8 | 1902.0 | -8.69 |
| Housing and Urban Development Corporation Limited | Financial Services | 239.28 | 262.7 | -8.92 |
| Tata Communications Limited | Communication Services | 1816.0 | 2004.0 | -9.38 |
| Aurobindo Pharma Limited | Healthcare | 1226.7 | 1356.2 | -9.55 |
| HDFC Asset Management Company Limited | Financial Services | 2673.0 | 2967.25 | -9.92 |
Source: NSE
Chart: Distribution of stocks vs their 52-week highs
Source: NSE
Stocks Near 52 Week Lows:
As of the end of last month, nearly 64 stocks were more than 20% away from their 52-week lows. Only 8 stocks were within 5% of their 52-week lows, with SJVN Limited, Colgate-Palmolive (India) Limited, and Petronet LNG Limited being the closest.
Table: Stocks within 10% of 52 Week Low
| Stock | Sector | Last Close | 52 Week Low | vs 52 Week Low (%) |
| Patanjali Foods Limited | Consumer Defensive | 568.15 | 523.33 | 8.56 |
| NHPC Limited | Utilities | 76.74 | 71.0 | 8.08 |
| ACC Limited | Basic Materials | 1850.6 | 1778.45 | 4.06 |
| Indian Railway Catering Tourism Corporation Limited | Industrials | 686.7 | 656.0 | 4.68 |
| Petronet LNG Limited | Energy | 271.85 | 266.1 | 2.16 |
| Page Industries Limited | Consumer Cyclical | 38320.0 | 37110.0 | 3.26 |
| Jubilant FoodWorks Limited | Consumer Cyclical | 601.5 | 564.95 | 6.47 |
| Mankind Pharma Limited | Healthcare | 2251.0 | 2132.0 | 5.58 |
| Colgate-Palmolive (India) Limited | Consumer Defensive | 2168.6 | 2142.5 | 1.22 |
| IRB Infrastructure Developers Limited | Industrials | 42.91 | 40.51 | 5.92 |
| Tata Elxsi Limited | Technology | 5155.0 | 4700.0 | 9.68 |
| The Supreme Industries Limited | Industrials | 3391.8 | 3095.0 | 9.59 |
| Rail Vikas Nigam Limited | Industrials | 324.1 | 301.6 | 7.46 |
| SJVN Limited | Utilities | 77.86 | 77.42 | 0.57 |
| Indian Renewable Energy Development Agency Limited | Financial Services | 142.9 | 137.01 | 4.3 |
| Container Corporation of India Limited | Industrials | 510.95 | 481.0 | 6.23 |
| Ola Electric Mobility Limited | Consumer Cyclical | 41.21 | 39.6 | 4.07 |
Source: NSE
Chart: Distribution of stocks vs their 52-week Low
Source: NSE
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