Key Events for the Month of November 2025

• India’s Services Purchasing Managers' Index (PMI) for October 2025 stood at 58.9, marking a slight easing from September's 60.9 and reflecting the slowest pace of expansion since May 2025.

• India’s Manufacturing Purchasing Managers’ Index (PMI) fell from 59.2 in October to 56.6 in November, indicating the slowest improvement in operating conditions since February.

• India’s Consumer Price Inflation (CPI) dropped to a 10-year low of 0.25%, well below the RBI’s target range.

• India’s Wholesale Price Index (WPI) inflation declined to -1.21% in October from 0.13% in September, primarily due to lower prices of food articles, crude petroleum and natural gas, electricity, mineral oils, and basic metal manufacturing, among others.

• India’s GST collections slowed to a 12-month low of ₹ 1.7 lakh crore in November, compared with ₹ 1.96 lakh crore in the previous month. The growth rate of 0.7% was also the slowest since the pandemic.

• Equity markets registered marginal gains in November 2025, with the Nifty 50 rising by 1.87% and the BSE Sensex by 2.11%, supported by positive domestic and global cues.

|	Sectoral Index Performance

Name	3 Months	6 Months	1 Year	3 Years	5 Years
Nifty Auto Index	11.3%	19.1%	18.9%	28.1%	25.6%
Nifty Bank Index	11.4%	7.2%	14.8%	11.4%	15.1%
Nifty Energy Index	5.7%	-0.9%	-5.2%	9.1%	17.0%
Nifty Financial Services Index	9.1%	5.2%	16.2%	13.0%	14.3%
Nifty FMCG Index	-1.0%	0.6%	-4.1%	6.9%	11.9%
Nifty Healthcare Index	4.7%	8.2%	6.4%	21.5%	22.0%
Nifty Infrastructure Index	8.8%	7.6%	10.5%	21.0%	23.0%
Nifty IT Index	6.3%	0.2%	-13.3%	7.2%	11.4%
Nifty Media Index	-8.9%	-14.2%	-26.5%	-11.5%	-0.5%
Nifty Metal Index	12.4%	12.0%	13.9%	16.2%	28.6%
Nifty Pharma Index	5.5%	7.3%	3.4%	20.5%	14.2%
Nifty PSU Bank Index	26.0%	22.1%	25.0%	28.7%	40.5%
Nifty Realty Index	3.7%	-4.9%	-11.5%	26.2%	28.2%
BSE Consumer Durables Index	2.0%	6.8%	-1.0%	14.3%	18.0%
BSE Industrial Index	5.2%	-0.4%	-2.4%	29.0%	36.6%

Source: Bloomberg, As on 28/11/2025. The Sector(s) mentioned in this document do not constitute any research report/recommendation of the same and the scheme(s)/Fund may or may not have any future position in these Sector(s) | The Index names mentioned do not constitute any kind of recommendation and are for information purpose only.
Past performance may or may not be sustained in the future

|	Global Index Performance

Name	3 Months	6 Months	1 Year	3 Years	5 Years
MSCI World Index	5.3%	13.8%	15.4%	17.4%	11.2%
MSCI Emerging Index	8.6%	18.1%	26.7%	12.0%	2.6%
MSCI India index	7.1%	5.4%	6.4%	12.6%	15.9%
Dow Jones Industrial Average Index	4.8%	12.9%	6.2%	11.3%	10.0%
Nasdaq Composite Index	8.9%	22.2%	21.6%	26.8%	13.9%
Nikkei 225 Index	17.6%	32.4%	31.5%	21.6%	13.7%
Shanghai Composite Index	0.8%	16.2%	16.9%	7.3%	2.8%
Deutsche Boerse AG german Stock Index DAX	-0.3%	-0.7%	21.5%	18.3%	12.4%

Source: Bloomberg, As on 28/11/2025 | The Index names mentioned do not constitute any kind of recommendation and are for information purpose only. Past performance may or may not be sustained in the future