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SEPTEMBER 2023 AUDIT: AN ALMOST FLAT MONTH

Nifty +2.00% · best PSU Bank +17.71% · worst Media -1.09%

Published by The Retail Trader · SEP 29, 2023 · Monthly Audit

The September 2023 audit — what every major index and every sector did across the month's 20 sessions, all measured from the 2023-08-31 close to the 2023-09-29 close.

September 2023 index and sector returns
2023-08-31 to 2023-09-29 — the return of every index and sector

INDEX LEVEL

An account of 20 sessions, best to worst:
• Midcap 100 — +3.63%, close 40537.05
• Nifty 500 — +2.18%, close 17292.60
• Nifty 50 — +2.00%, close 19638.30
• Sensex — +1.54%, close 65828.41
• Bank Nifty — +1.35%, close 44584.55

Of the Nifty's 20 sessions, 13 were up and 7 down. The best day was 2023-09-01 (+0.94%), the worst 2023-09-20 (-1.15%).

SECTOR LEVEL

There were 18.8 percentage points between the best and the worst sector:
• PSU Bank — +17.71%
• Realty — +3.09%
• Metal — +2.70%
• Pharma — +2.17%
• IT — +1.99%
• Bank — +1.35%
• FMCG — +1.00%
• Media — -1.09%

VOLATILITY AND DRAWDOWN

India VIX ranged between 10.66 and 12.82 during the month and closed at 11.45. The deepest peak-to-trough fall in the Nifty inside the month was -3.3% — so despite the month's net number of +2.00%, a decline of that depth was seen along the way.

All figures in this article were computed from The Retail Trader daily index database through 24 July 2026. Past performance does not indicate future performance. This analysis is educational only and is not a recommendation to buy or sell.

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