The market corrected in November due to tapering and new Covid strain – The Nifty corrected by 3.9% in November while the Midcap 100 corrected by 2.7%. FIIs were net sellers in Indian equities to the extent of `5,945 crores in November as compared to `13,550 crores in October. Markets were largely stable in the first half of Nov post the announcement of tapering by the US Fed in the Oct FOMC meeting. However, there was an increase in volatility in the second half of the month due to the emergence of a new strain of Covid in South Africa.

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