Market erases all gains, Nifty falls below 23,300
At close, the Sensex was down 422.59 points or 0.54% at 77,155.79, while the Nifty fell 168.60 points or 0.72% at 23,349.90.
Gold has given positive returns of 21.84 per cent in the past one year, while returns on Silver has been 21.05 per cent, as per a report by Motilal Oswal Asset Management Company.
In October, Indian stock markets exhibited a negative trend, highlighted by a 2.84 per cent fall in the Nifty 50 index, with the mid-cap 150 index leading the decline at 3.80 per cent.
With the exception of Realty, all sectors reported negative performance. The Metals sector saw the steepest decline, dropping by 6 per cent.
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In the US, S&P 500 and NASDAQ 100 both experienced a 2 per cent decline in October 2023, with the Healthcare & Consumer Discretionary sector being the largest contributor to the S&P 500’s fall. Globally, both emerging and developed markets saw negative performance, with declines of 4 per cent and 3 per cent, respectively. South Korea witnessed the most significant drop at 7 per cent, while Switzerland led the decline in developed markets with a 5 per cent fall.
Crude oil prices nosedived by 11 per cent during October, due to rising geo-political risks, low demand from the US and mixed Chinese data. On the commodities front, precious metals were in the green with gold and silver prices rising by 7 per cent and 1 per cent respectively, amid rising tensions in the middle east. Cryptocurrencies like Bitcoin and Ethereum went soaring at 29 per cent and 9 per cent, respectively.
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