Stock Market Highlights: Nifty Clocks Longest Monthly Losing Streak In Nearly Three Decades

The benchmark indices ended the week and the month with heavy losses on Friday, with the NSE Nifty 50 falling to the lowest level since June 5.

The NSE Nifty 50 ended 420.35 points or 1.86% lower at 22,124.70, while the BSE Sensex closed 1,414.33 points or 1.9% down at 73,198.10. During the day, the Nifty fell as much as 1.95% to 22,104.85, while the Sensex dropped 1.97% to 73,141.27.

The Nifty index recorded its longest monthly losing streak in 28 years, falling for the fifth consecutive month, a trend not seen since November 1996. In February, over 450 of the Nifty 500 stocks experienced declines, marking a challenging month for the market.

During the week, the markets remained largely volatile, inclining towards losses as multiple sectors took sharp cuts, including cable and wires, metal and realty among other. The Nifty FMCG recorded longest the losing streak in 18 years.

All sectoral indices posted losses, with the Realty and IT sectors being the hardest hit. The Nifty Realty index had its worst month since the onset of the Covid-19 pandemic in March 2020, while the Nifty IT recording its worst performance in 35 months, since April 2022.