The Securities and Exchange Board of India (SEBI), on December 25, 2025, presented a comprehensive overview of developments in India’s capital markets during November 2025. The Bulletin highlighted strong capital mobilisation trends, with ₹1.20 lakh crore raised during the month, led by IPOs amounting to ₹33,507 crore. Despite moderation from October’s record levels, November marked the second-highest monthly resource mobilisation in FY 2025–26, with Offer for Sale (OFS) dominating mainboard IPOs and the northern region emerging as the leading contributor.
The Bulletin noted continued resilience in secondary markets, supported by robust Q2 FY26 corporate earnings and sustained domestic institutional investor participation. Benchmark indices Sensex and Nifty gained 2.1% and 1.9% respectively, though market breadth remained narrow with mid-caps outperforming small-caps. Sectorally, IT and PSU banks led gains, while Realty, Media, and FMCG underperformed. In derivatives, equity options activity moderated on a month-on-month basis, while interest rate derivatives at NSE showed renewed growth. Commodity derivatives also recorded positive momentum, driven by bullion and metals.
On the investment side, Foreign Portfolio Investors (FPIs) turned net sellers in equities but continued to invest in debt markets, while mutual fund assets under management rose to ₹80.8 lakh crore, reflecting strong investor participation in equity-oriented schemes. The Bulletin also underscored India’s robust macroeconomic performance, with Q2 FY26 GDP growth at 8.2%, and highlighted India’s global leadership in IPO activity by number of listings. Overall, the December 2025 Bulletin reflects the depth, resilience, and growing maturity of India’s securities markets.
