October tremors: Nifty posts worst decline in 10 months, shows data

Rising bond yields and the Israel-Hamas war led to the benchmark indices posting their worst decline in 10 months.
 

The Nifty fell 2.8 per cent in October, and the Sensex by 3 per cent, their biggest fall since December 2022.
 

The total investor wealth eroded by Rs 7.6 trillion in the rout this month. Foreign Portfolio Investors (FPIs) were the net sellers of Rs 21,680 crore.
 

The pain was more pronounced in the midcap stocks.

 

The Nifty Midcap 100 declined 4.1 per cent, the steepest decline since June 2022. Among the sectoral indices, the Nifty PSU Bank index fell by 6.2 per cent, followed by metals (5.7 per cent) and pharma (4.8 per cent).
 

Real estate index stocks did well, and the Nifty Realty index rose by 4.8 per cent.
 

Nestle India was the best-performing stock, which rose by 7.7 per cent, while UPL – the worst-performing stock -- fell 12.3 per cent during the month.
 

The bond yields and geopolitical tensions in West Asia will determine the market trajectory in the coming months.