In November 2025, the Nifty Smallcap 100 index had a negative return of 3.0%. This was driven by a sharp deterioration in market breadth, with only 29 stocks advancing against 70 declining — a steep drop from 66 advancing stocks in the prior month. Healthcare emerged as the top-performing sector, led by Narayana Hrudayalaya Limited, Laurus Labs Limited, and NATCO Pharma Limited, while the Utilities and Telecom sectors took a hit.
Chart: Monthly Return Chart
How was the market breadth – 29 advanced while 70 declined:
In Nov-2025, the market breadth was negative with 29 stocks advancing while 70 stocks declined. In comparison to the last month, this is significantly worse as advancing stocks dropped sharply from 66 to 29.
Table: Advances and Declines history
| Month | Advances | Declines | Advance/Decline Ratio
close |
| Nov-2025 | 29 | 70 | 0.41 |
| Oct-2025 | 66 | 33 | 2.0 |
| Sep-2025 | 61 | 39 | 1.56 |
| Aug-2025 | 20 | 79 | 0.25 |
| Jul-2025 | 29 | 71 | 0.41 |
| Jun-2025 | 73 | 27 | 2.7 |
| May-2025 | 87 | 13 | 6.69 |
| Apr-2025 | 52 | 48 | 1.08 |
| Mar-2025 | 84 | 16 | 5.25 |
| Feb-2025 | 11 | 89 | 0.12 |
| Jan-2025 | 20 | 80 | 0.25 |
| Dec-2024 | 47 | 51 | 0.92 |
Source: NSE
Chart: Trends In ADR Ratio
Source: NSE
Healthcare performs the best while Utilities & Telecom perform the worst:
Healthcare was the best-performing sector in the latest month with a weighted return of 2.87%. This was driven by strong performances from stocks like Narayana Hrudayalaya Limited, Laurus Labs Limited, and NATCO Pharma Limited. On the other hand, Utilities and Telecom performed the worst.
Table: Performance Across Sectors
| Sector | Number Of Stocks | % Change (w. avg) | % Change (avg) |
| Healthcare | 10 | 2.87 | 1.76 |
| Financial Services | 16 | 2.44 | 0.12 |
| Energy | 2 | 0.06 | 0.19 |
| Consumer Defensive | 2 | -0.76 | -1.9 |
| Technology | 12 | -0.8 | -2.13 |
| Basic Materials | 13 | -4.8 | -5.02 |
| Industrials | 23 | -6.2 | -5.23 |
| Consumer Cyclical | 8 | -6.52 | -4.59 |
| Utilities | 5 | -9.9 | -9.12 |
| Real Estate | 3 | -10.01 | -7.22 |
| Communication Services | 5 | -10.17 | -8.83 |
| Others | 1 | -13.17 | -13.17 |
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 Manappuram Finance Limited, Laurus Labs Limited, and Garden Reach Shipbuilders Engineers Limited with returns of 84.0%, 82.25%, and 68.03% respectively. These stocks were primarily from the Financial Services and Healthcare sectors.
Table: Top-15
| Stock | Sector | % Change (1Y) |
| Manappuram Finance Limited | Financial Services | 84.0 |
| Laurus Labs Limited | Healthcare | 82.25 |
| Garden Reach Shipbuilders Engineers Limited | Industrials | 68.03 |
| Navin Fluorine International Limited | Basic Materials | 63.91 |
| Multi Commodity Exchange of India Limited | Financial Services | 63.1 |
| Narayana Hrudayalaya Limited | Healthcare | 53.95 |
| Godfrey Phillips India Limited | Consumer Defensive | 53.61 |
| CreditAccess Grameen Limited | Financial Services | 48.24 |
| Redington Limited | Technology | 45.4 |
| HBL Engineering Ltd. | Industrials | 42.19 |
| IIFL Finance Ltd. | Financial Services | 37.65 |
| Poonawalla Fincorp Limited | Financial Services | 35.51 |
| Sagility India Limited | Healthcare | 35.41 |
| Aster DM Healthcare Limited | Healthcare | 34.46 |
| Radico Khaitan Limited | Consumer Defensive | 31.13 |
Source: NSE
Bottom performers over a 1 Year Horizon:
Over the past year, the bottom performers included Tejas Networks Limited, HFCL Limited, and NCC Limited with returns of -45.92%, -45.64%, and -44.1% respectively. These stocks were primarily from the Technology and Industrials sectors.
Table: Bottom-15
| Stock | Sector | % Change (1Y) |
| Tejas Networks Limited | Technology | -45.92 |
| HFCL Limited | Technology | -45.64 |
| NCC Limited | Industrials | -44.1 |
| Ramkrishna Forgings Limited | Industrials | -42.98 |
| Sonata Software Limited | Technology | -41.91 |
| Jupiter Wagons Limited | Industrials | -41.62 |
| Cyient Limited | Industrials | -37.85 |
| NATCO Pharma Limited | Healthcare | -35.97 |
| Aditya Birla Real Estate Ltd. | Basic Materials | -35.51 |
| Birlasoft Limited | Technology | -34.73 |
| Crompton Greaves Consumer Electricals Limited | Consumer Cyclical | -34.66 |
| KEC International Limited | Industrials | -34.55 |
| Tata Teleservices (Maharashtra) Limited | Communication Services | -34.16 |
| Titagarh Rail Systems Limited | Industrials | -31.57 |
Source: NSE
Stocks Near 52 Week Highs:
As of the end of last month, nearly 64 stocks were more than 20% away from their 52-week highs. Only 11 stocks were within 10% of their 52-week highs, with Laurus Labs Limited, IIFL Finance Ltd. and Multi Commodity Exchange of India Limited being the closest.
Table: Stocks within 10% of 52 Week High
| Stock | Sector | Last Close | 52 Week High | vs 52 Week High (%) |
| Laurus Labs Limited | Healthcare | 1031.35 | 1040.2 | -0.85 |
| IIFL Finance Ltd. | Financial Services | 578.7 | 592.8 | -2.38 |
| Multi Commodity Exchange of India Limited | Financial Services | 10073.5 | 10471.5 | -3.8 |
| The Karur Vysya Bank Limited | Financial Services | 247.97 | 258.5 | -4.07 |
| Manappuram Finance Limited | Financial Services | 284.95 | 298.0 | -4.38 |
| Go Digit General Insurance Limited | Financial Services | 358.15 | 381.4 | -6.1 |
| The Great Eastern Shipping Company Limited | Industrials | 1106.9 | 1179.0 | -6.12 |
| IDBI Bank Limited | Financial Services | 100.38 | 106.97 | -6.16 |
| Navin Fluorine International Limited | Basic Materials | 5735.5 | 6168.5 | -7.02 |
| Data Patterns (India) Limited | Industrials | 2970.8 | 3268.8 | -9.12 |
| Aster DM Healthcare Limited | Healthcare | 665.45 | 732.2 | -9.12 |
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 14 stocks were within 5% of their 52-week lows, with NCC Limited, Mahanagar Gas Limited and Chambal Fertilisers and Chemicals Limited being the closest.
Table: Stocks within 10% of 52 Week Low
| Stock | Sector | Last Close | 52 Week Low | vs 52 Week Low |
| Mahanagar Gas Limited | Utilities | 1200.2 | 1190.4 | 0.82 |
| Gujarat State Petronet Limited | Utilities | 287.5 | 261.45 | 9.96 |
| Afcons Infrastructure Ltd. | Industrials | 404.1 | 386.2 | 4.63 |
| Tata Chemicals Limited | Basic Materials | 800.4 | 756.0 | 5.87 |
| Bata India Limited | Consumer Cyclical | 999.2 | 966.5 | 3.38 |
| Piramal Pharma Limited | Healthcare | 187.21 | 181.73 | 3.02 |
| Brigade Enterprises Limited | Real Estate | 895.1 | 850.7 | 5.22 |
| PCBL Limited | Basic Materials | 325.15 | 319.5 | 1.77 |
| Devyani International Limited | Consumer Cyclical | 135.64 | 132.14 | 2.65 |
| Indian Energy Exchange Limited | Financial Services | 139.29 | 130.26 | 6.93 |
| Crompton Greaves Consumer Electricals Limited | Consumer Cyclical | 265.35 | 261.6 | 1.43 |
| Inox Wind Limited | Utilities | 134.5 | 130.32 | 3.21 |
| Action Construction Equipment Limited | Industrials | 992.8 | 917.45 | 8.21 |
| Chambal Fertilisers and Chemicals Limited | Basic Materials | 440.15 | 435.3 | 1.11 |
| Tata Teleservices (Maharashtra) Limited | Communication Services | 51.84 | 50.1 | 3.47 |
| Ramkrishna Forgings Limited | Industrials | 550.0 | 513.2 | 7.17 |
| Cyient Limited | Industrials | 1123.6 | 1084.05 | 3.65 |
| NCC Limited | Industrials | 171.41 | 170.05 | 0.8 |
| KEC International Limited | Industrials | 685.75 | 627.45 | 9.29 |
| HFCL Limited | Technology | 70.17 | 68.56 | 2.35 |
| Jupiter Wagons Limited | Industrials | 285.8 | 270.05 | 5.83 |
| Tejas Networks Limited | Technology | 494.2 | 474.45 | 4.16 |
Source: NSE
Chart: Distribution of stocks vs their 52-week Low
Source: NSE
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