Retail Investors Book Profits as Sensex–Nifty Surge, Offload ₹25,000 Crore in Two Months

Despite the record-breaking rally in the domestic stock market, retail investors remained largely absent from this surge. Amid rising share prices, they sold shares worth over ₹25,000 crore in October and November. According to data from the National Stock Exchange (NSE), shares worth ₹13,776 crore were sold in October and ₹11,544 crore were sold in November.

According to analysts, this discrepancy is surprising because the stock market experienced a strong rally during this period. The Sensex and Nifty rose by over 4 percent in October and 2 percent in November. In October, the BSE Midcap Index rose 4.7 percent and the BSE Smallcap Index rose 3.22 percent. However, the market experienced significant volatility in November, with the Midcap Index falling 0.4 percent and the Smallcap Index falling 3.4 percent. Analysts say retail investors have been facing volatility in the stock market since the beginning of the year.

Although the market improved in October and November, many retail investors used this as an opportunity to book profits. While the indices rose 4 percent from January to September this year, the BSE Midcap Index declined 3 percent, while the Smallcap Index fell 5 percent, leaving retail investors disappointed.

According to analysts, the sharp rise in gold and silver prices has also led investors to sell shares. While direct equity portfolios are being cut, investments in mutual fund SIPs have remained stable. Investors are investing in multi-asset allocation funds to hedge against volatility. Gold prices have risen 61 percent so far in 2025. Silver prices have doubled. These impressive returns have kept some parts of the stock market volatile and uneven.