Markets witness a roller-coaster ride in Oct; banking, realty stocks gain


After gaining as much as 8 per cent, the benchmark indices gave up half the gains to end October with a net 4 per cent gain.

At one point, the markets was once less than 3 per cent shy of new record highs. Then again, rising infections in Europe and the USA, coupled with a delay in US stimulus announcements, caused a pullback.

The high-beta banking and realty stocks were among major gainers. Index heavyweight Reliance Industries was once the biggest drag on market performance, with shares dropping 8 per cent.

In a foreign country investors started off as aggressive buyers but turned net sellers all over the fag end of the month.

Mutual funds pulled out almost Rs 12,000 crore, amid outflows in fairness schemes. The India VIX also surged ahead of next week’s US elections.

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