The Nifty Returns till date this month are the worst ever August performance in known history, with a –13.4% till August 27 going way below the –9.5% in 1997.
Of the 12 times prior to this month we have seen –10% of worse on the Nifty, 7 have given a positive month subsequently, and 5 a worse. Which means there’s no evidence that we’ll bounce back. Worse, the rises have been timid.
Another interesting piece: our year to date return, –22.6% is the second worst year-to-date return since 2008 (which was –29%). And 2008 ended up –51% down.
The Nifty has too little to really rely on – a 16 year history isn’t a lot. The 30 year history on the Sensex shows the worst YTD performance since 2008, if you were wondering.