Nifty50 finishes monthly F&O series 4% lower — key factors that influenced the market

Indian equity benchmarks reversed initial gains in a volatile session on Thursday — a seventh back-to-back day of relentless selling on Dalal Street. The Nifty50 benchmark finished the September derivatives (futures & options) series with a loss of 704.4 points or four percent. This marks the first negative series since June.

It also translates to the worst performance of the 50-scrip gauge in a monthly series since May 2022.

The Nifty50 made a sharp U-turn in the second half of the month after coming within a little more than 500 points or 2.7 percent of its all-time high, clocked in October 2021. A global sell-off triggered by a third straight hike of 75 basis points in key rates and the Fed's persistently hawkish commentary dented the sentiment on Dalal Street.