👀 Ones to watch: Undervalued stocks to buy before they report Q3 earningsSee Undervalued Stocks

Nifty has given highest returns in October: Report

Published 28-09-2023, 05:31 pm
Nifty has given highest returns in October: Report
NIFTY500
-
NSEBANK
-
ASOK
-
ICBK
-
NMDC
-
PLNG
-
SBI
-
SAIL
-
TISC
-
JKCE
-
MNFL
-

New Delhi, Sep 28 (IANS) An analysis for the month of October indicates that the Nifty has shown relatively the strongest seasonality, according to a report by JM Financial (NS:JMSH) Institutional Securities.In the last 10 years, the index has closed in the green on nine occasions with an average positive return of 2.9 per cent, highest average return observed in any calendar month, the report said.

The Nifty Mid-cap index has also exhibited a strongest seasonality, closing in the green on all ten occasions with an average return of 3.3 per cent. However, it managed to outperform the Nifty only on five occasions with an average outperformance of 0.4 per cent.

Indices closed in green on eight or more occasions Bank Nifty and Financials index has closed in the green on all ten occasions with an average return of 6.2 per cent and 5.4 per cent, respectively. Metal, Auto and Energy indices have closed in the green on eight occasions each with an average return of 4.1 per cent, 3.9 per cent and 3.5 per cent, respectively.

Indices closed in red on seven or more occasions. FMCG index has closed in the red on seven occasions with an average negative return of 0.4 per cent.

Indices outperformed Nifty on seven or more occasions Bank and Financial indices outperformed the most with an average outperformance of 3.3 per cent and 2.5 per cent, respectively.

Indices underperformed Nifty on seven or more occasions FMCG and Technology indices underperformed the most with an average underperformance of 3.4 per cent and 2 per cent, respectively, the report said.

Stocks closed in green on nine or more occasions with an average positive return of more than 5 per cent are ICICI Bank (NS:ICBK), SAIL (NS:SAIL), Manappuram Finance (NS:MNFL), NMDC (NS:NMDC), State Bank of India (NS:SBI), GMR Airports Infrastructure, Power Finance (NS:PWFC) Corporation, Tata Steel (NS:TISC), Ashok Leyland (NS:ASOK), Petronet LNG (NS:PLNG) and JK Cement (NS:JKCE).

Stocks closed in red on seven or more occasions with an average negative return of more than 1 per cent are Oracle Financial Services Software (NS:ORCL) and Max Financial Services (NS:MAXI), the report added.

(Sanjeev Sharma can be reached atSanjeev.s@ians.in)

--IANS

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.