Festive crash ahead? Nifty bulls stare at 4 bearish signs as October series begins
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Nifty bulls face four bearish signs as the October series begins after a tough September.
- ✓The index fell 6.7% during the series, marking its worst performance in 25 years.
- ✓Foreign investors sold shares worth 25,662 crore, their highest monthly outflow in six months, as markets stayed under heavy selling pressure.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 6 Minute(s)
- Market Focus
- India Economy
Nifty bulls are entering the October derivatives series with the benchmark facing a rare combination of technical damage, heavy foreign selling and bearish futures positioning. The index has just recorded its worst September derivatives series in 25 years, while FIIs have posted their biggest monthly outflow in six months.
At the same time, rollover data indicate that bearish positions have been carried into the new series, leaving Nifty perched near a long-term support zone last tested during the Covid crash.
Here are 4 bearish indicators for the market in the festive month of October:
1) Worst September expiry in 25 years
Nifty closed out its worst September derivatives series in a quarter century as relentless selling dragged the benchmark to a key long-term support zone. The index fell 6.7% during the series, a decline last seen in September 2001, when it dropped 6.5%.
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The Economic Times
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