October Sell-Off: Nifty 50 Logs Worst Performance In 16 Months
The Nifty 50 is down 780 points to 18,855 since the beginning of October, falling nearly 4%.
The benchmark Nifty 50 has fallen 3.98% so far since the beginning of October, which is its worst performance during a month since June 2022.
The index fell 781 points during October to hit 18,857.
The NSE Midcap 100 declined by 2,420 points over the same period to hit 38,116, while the Smallcap 100 corrected 357 points to fall to 12,390.
Investors saw their wealth erode by nearly Rs 10 lakh crore as all broad-based and sectoral indices declined since the beginning of October.
The BSE equity market capitalisation stood at Rs 307 trillion at market close on Oct. 25.
The Sensex fell over 4% during the period, closing at 63,149 on Thursday.
The Nifty Bank fell 5.1% to 42,140, the lowest since April 21.
Broader Markets In Decline
The Midcap 100 declined 5.97% during the month, while the Smallcap 100 declined 2.8%.
Tata Communications Ltd. fell the most among mid-cap stocks, declining 19.1% since the beginning of the month.
Within the Smallcap 100, Triveni Turbine Ltd. fell the most by 28.5% during the period.
Sectoral Indices Fall
Nifty Media fell the most across sectoral indices, led by the decline in Hathway Cable and Datacom Ltd. and Dish TV India Ltd., which fell 11.2% and 10.6%, respectively.
