November market turnaround driven by AI correction, FII comeback and earnings resilience

GreyOak summary

Indian equities staged a sharp turnaround in November driven by three factors: a reassessment of global AI trade, a reversal in foreign flows, and strong earnings. Foreign investors pumped Rs 53,739 crore into Indian equities in six sessions, reversing October outflows. This was aided by Brent crude falling below $90, the rupee recovering over 3%, and 27 of 47 Nifty companies beating estimates.