Nifty Suffers Worst October Since 2009
The benchmark NSE Nifty 50 posted its first negative return in historically strong October in six years.
The Nifty swung between gains and losses of over 1 percent 10 times—six of which were in the downside—this month, making it the most volatile this calendar year. It turned in a negative return of 4.98 percent, as compared with the trailing five-year average of 4.31 percent—the highest for all months.
The month gone by saw increased volatility due to multiple factors such as the IL&FS crisis and its aftermath, rising trade war tensions and uncertainty on crude front, said UR Bhat, managing director of Dalton Capital. “The only overhang in the near term remains the upcoming elections and markets could see further volatility in the short term should the outcome be any negative from the base case.”