Benchmark indices Nifty and Sensex endured a sharp sell-off in September, falling more than 6% each as escalating tensions in the Middle East, soaring oil prices and bond yields hitting multi-decade highs rattled investor sentiment. The market weakness also spilt over into portfolio management services (PMS), with some strategies declining by nearly 11% and some rising over 7%.
Before this week, the Nifty had fallen for eight consecutive weeks for the first time in 25 years, a streak last recorded in 2001. The pressure on equities was reflected in PMS performance, where the gap between the best and worst performers widened sharply, highlighting how portfolio positioning and stock selection shaped returns during a turbulent month.
