India's benchmark stock index, the Nifty 50, recorded its best month since July 2022, reaching a record high of 20,291 on Friday on positive sentiments ahead of the Union election.
It rose 5.52% during November, the highest in 16 months.
Excluding the anomalous year of 2020, this November was also the best in 13 years. It rose 6.8% in 2009 and 6.8% in 2006 before that. The index had surged 11.4% during 2020.
The index broke its earlier record of 20,222, which it hit on Sept. 15, by rising as much as 0.8% intraday on Dec. 1.
The November rally that led to the record high closing of the Nifty on Dec. 1 was led by Bharat Petroleum Corp. and Hero MotoCorp Ltd., which rose 25.5% and 21.2%, respectively.
The top laggards over the period were Bajaj Finance Ltd., which fell 3.2% and Cipla Ltd., which reported marginal gains of 0.4%.
The greatest contributors to the index since its previous high of 20,222 on Sept. 15 were Bharat Petroleum and Coal India Ltd., which rose 24.4% and 24.4%, respectively.
UPL Ltd. recorded a de-growth of 9.4% over the period, while Wipro Ltd. fell 7.6%.
The month also saw records being broken in the primary markets, with Tata Technologies Ltd. listing at a premium of 140%.
The primary markets also saw flows upwards of Rs 2.6 lakh crore over the course of a single week across five initial public offerings.
Tata Technologies Ltd. received a demand for over 69.4 times its desired amount, while Gandhar Oil Refineries Ltd. got subscribed 64 times.
RECOMMENDED FOR YOU
![](https://images.assettype.com/bloombergquint/2024-03/9601cd16-ed9d-45e5-9529-34671c349101/Till_up_Exterior_front_view_of_NSE_signage__logo_at_office_building_in_BKC__Bandra_Kurla_Complex___S.jpeg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
Nifty Extends Rally To 13th Session With Fresh Closing High: Market Wrap
![timelogo](/images/amp-time.png)
![](https://images.assettype.com/bloombergquint/2024-08-30/t6sonrbd/_1x_1.jpg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
S&P 500 Spikes In Last 10 Minutes Of US Trading: Markets Wrap
![timelogo](/images/amp-time.png)
![](https://images.assettype.com/bloombergquint/2019-08/c7d2214b-9012-4f63-bb4c-62cf493da660/sebi.jpeg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
NSE Files New Application For IPO No Objection Certificate With SEBI
![timelogo](/images/amp-time.png)
![](https://images.assettype.com/bloombergquint/2024-01/5e3badbd-b2cc-4d72-9e96-49c2e92e0ec8/WhatsApp_Image_2024_01_29_at_14_27_25__1_.jpeg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
Stock Market Today: Nifty, Sensex End Lackluster Session Flat; RIL, HUL Drag
![timelogo](/images/amp-time.png)