The NSE Nifty 50 fell 6.4 percent in September, the most in any month of this year, owing to major turmoil in stocks, particularly financials.
The 50-share NSE frontline index has so far maintained a modest annual gain of 3.8 percent, which looks less likely to improve given the macro-economic factors.
In 2017, the Nifty returned 28.6 percent on an annual basis, after a three percent annual gain in the preceding year.
Besides, the frontline index, the Nifty Next50, has fallen 12 percent in September, the worst month for the broader index which is also called as the Nifty Junior, amid a carnage in the non-banking financial space.
In September, the broader index has fallen in double-digits only twice. First in 2008, when it fell 29 percent at the height of the sub-prime crisis and before that in 2005, when it fell 11.1 percent.
Between 1999 and 2018, September of 2008 remains the worst month for the Nifty Junior, while it gained the most 41.5 percent in May 2009.
On an annual basis, the Nifty Junior has surged the most 141 percent in 2003, while it fell the most 63.5 percent in 2008.
Apart from 2003, the Nifty Next50 surged the most in 2009 with an annual gains of nearly 128 percent.
Between 1999 and 2018, the Nifty Junior, has returned 17.8 percent return, with November and December being the best months in terms of average.
Meanwhile, benchmark indexes fell sharply ahead of the closing trade. The BSE Sensex tanked over 521 points or 1.43 percent to trade at 36,005, while the NSE Nifty50 also plunged 134 points or 1.22 percent to trade at 10,874.
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First Published: Oct 3, 2018 3:24 PM IST
