Stock markets in September: Here’s how Sensex, Nifty, Gold price are expected to perform this month
Indian stock market indices declined in the month amid volatility and selling by foreign institutional investors (FII). The benchmark indices Nifty and Sensex fell 2.5% each last month dragged by selling in banking, financials, FMCG and energy sectors. After persistent buying for five consecutive months, the FIIs turned net sellers in the Indian equities last month.
FIIs net sold Indian shares worth ₹20,620 crore, while domestic institutional investors (DII) net purchased shares aggregating to ₹25,017 crore, data available on exchanges showed. Going ahead in September, analysts believe the sentiment is likely to remain somber for equities, while in commodities markets, gold and silver prices may shine. Also Read: FIIs offload ₹2,973 crore in Indian equities, emerge net sellers in August; Net buyers DII invest ₹4,383 crore On the global front, the US Federal Reserve is widely expected to hold interest rates amid weak economic data in the country.
Hopes of no further rate hike is likely to weigh on US treasury yields, and ultimately dent the US dollar. Let us take a look at how Sensex, Nifty, gold and others are expected to perform in September. As per an analysis by JM Financial for the month of September, Nifty has shown relatively average seasonality during the month.
In the last 10 years, the index has closed in the green on four occasions with an average negative return of 0.3%. In the last 5 years, the Nifty has been closing in the green every alternate year; the index last closed in the green in 2021. “The Nifty Mid-cap index too exhibited average seasonality, closing in the green on six occasions with an average return of 0.2%.
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