Tariffs Shake D-Street: Nifty Marks Longest Monthly Losing Streak

The benchmark Nifty registered five consecutive decrease in its monthly price in February. This is it is the longest run of month-long sales over the last three decades. The Nifty was introduced in April of this year. The index was down 25% over the five months that ran from July through November. This downturn has been the longest since that time.

The current decline, which started in October with an 6.22 percentage drop, continued through February and the benchmark index fell about 6% during the month. In the last five months the Nifty has dropped around 14 percent. However, this is less than the decline of 22% that occurred during the selloff of four months between June and September 2001.

The Nifty index posted the longest losing streak in a month in the last 28 years, slipping for the fifth time in a row which was not witnessed since November 1996. In February 2023 stock performance; more than 500 of the Nifty 500 stocks saw losses, which was a difficult time for Mumbai stock market participants.

IndusInd Bank Limited., Tech Mahindra Ltd., Wipro Ltd., Mahindra & Mahindra Ltd. and Bharti Airtel Ltd. weighed the Nifty the most on Friday.

The shares of Shriram Finance Ltd., HDFC Bank Ltd., Coal India Ltd., Trent Ltd. Hindalco Industries Ltd. was able to cushion the fall in the index by the largest amount.

The stock market downturn in general underperformed in the end, with those on the BSE MidCap ending 2.13% lower, and the SmallCap declining 2.27 percent. The breadth of the market was tilted towards sellers, as 3,300 stocks fell while 683 advanced, and 90 remained the same in the BSE.

On the BSE All 21 sectors dropped and the biggest decline was Telecommunication and Teck being the worst offenders.